Electric Commercial Vehicle Market Snapshot
Rising awareness about environment friendly vehicles has led us to develop the fuel-efficient and emission-free vehicles. Commercial electric vehicles are becoming an increasingly attractive option as it provides reduced maintenance cost, and project a greener technology to consumers compared to other conventional options. Countries all around the world are reducing the vehicular carbon emission by promoting electric vehicle and creating basic infrastructure to make these vehicles cost-effective and easily available. Prominent market players are continuously working to develop low-cost, fast charging battery technologies that support long range use looked set to yield promising results. Changing consumer preference to adapt electric commercial vehicle in recent years is a major factor attributed to the increasing demand of commercial electric vehicle.
The prominent players in the Electric Commercial Vehicle Market are-
The prominent players in the global electric commercial vehicle market include Tesla (US), Nissan (Japan), BYD (China), Daimler (Germany), Proterra (US), LG Chem (South Korea), Zhongtong Bus Holding Co., Ltd (China) and Panasonic (Japan). Delphi (US), ABB (Switzerland), Continental (Germany), Siemens(Germany), Mitsubishi Electric (Japan), Toshiba (Japan), Ballard Power Systems (Canada), are among others.
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Electric Commercial Vehicle Market Segmentation:
- Global electric commercial vehicle market is segmented on the basis of vehicle type, propulsion, components, range, and region.
- Vehicle type segment is divided into bus, trucks and others. On the basis of component, the market has been segmented into electric motor, EV battery, hydrogen fuel cell, and others.
- Propulsion segment is further classified as, battery electric vehicle, hybrid electric vehicle, plug in hybrid electric vehicle, and fuel cell electric vehicle. Range segment is divided as 0-150 miles, 151-250 miles, 251-500 miles, and above 500 miles.
Electric Commercial Vehicle Market Regional Analysis:
Geographically, the global electric commercial vehicle market has been segmented into the four major regions of North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to lead the market growth during the forecast period. China has world’s worst pollution problem and to deal with that they are electrifying their fleets by imposing government mandates to curb out urban pollution by using emission-free vehicles.
Moreover, generous subsidies and tight regulations are the primary reasons behind china’s dominating positions in commercial electric vehicle market. Furthermore, increasing activities to create awareness about the benefit associated with electric commercial vehicle by governments all over the Asia-Pacific region are expected to drive the market during forecast period.
More Info : https://www.marketwatch.com/press-release/electric-commercial-vehicle-market-forecast-2019-2023-size-industry-outlook-share-market-growth-key-player-analysis-segmentation-by-propulsion-and-components-like-auto-fuel-cell-electric-vehicle-battery-2019-01-07
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