Market Overview:
The global electric commercial heavy vehicle market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for electric vehicles across different applications, such as construction, mining, ports and others. Additionally, government initiatives towards promoting the adoption of electric vehicles are also contributing to the growth of this market. The global electric commercial heavy vehicle market is segmented on the basis of type into class 6- medium truck, class 7-heavy truck and class 8-heavy truck. On the basis of application, the market is segmented into construction, mining ports and other applications. The North America region dominates this market followed by Europe and Asia Pacific regions respectively.
Product Definition:
An electric commercial heavy vehicle is a type of electric vehicle that is used for transporting goods. These vehicles are typically larger than passenger cars and have a higher payload capacity. They are also more expensive to operate and maintain than traditional gasoline-powered vehicles.
Class 6- Medium Truck:
The global Class 6- Medium Truck market size was valued at USD 28,10,853.0 thousand in 2016 and is expected to grow at a CAGR of XX% over the forecast period. The increasing demand for goods transportation from various sectors such as retail & consumer goods and FMCG is anticipated to drive the growth of this industry over the forecast period.
Class 7-Heavy Truck:
Class 7-Heavy trucks are the most significant type of commercial vehicles that are used to transport goods. They have a gross vehicle weight rating of more than 8,500 pounds and less than 16,000 pounds. Class 7-Heavy truck is also known as heavy duty van or electric commercial van and it has an engine with a maximum output capacity of not more than 750 horsepower.
Application Insights:
The construction application segment led the global electric commercial heavy vehicle market in 2017 and is projected to continue its dominance over the forecast period. The segment growth can be attributed to increasing demand for cement, steel and other building materials from developing as well as developed countries. Moreover, stringent government regulations regarding reduction in vehicular emissions coupled with growing awareness about environment conservation is expected to drive the demand for electric trucks over the forecast period.
The mining application segment accounted for a significant share of 13% in 2017 owing to high requirements of heavy-duty vehicles at various mines across Latin America and Asia Pacific regions due largelyto increased excavation activities at different sites dueto rising metal prices on account of increasing industrialization along with technological advancements that have resultedin improved productivity has drivenmine owners towards purchasing such types of trucks which are more efficient compared tonumbers produced.
Regional Analysis:
The Asia Pacific dominated the global market in 2017. The region is expected to witness significant growth over the forecast period owing to increasing demand for heavy commercial vehicles from developing economies, such as China and India. Factors such as rising urbanization and industrial development are projected to further fuel regional product demand.
China is anticipated to dominate the Asia Pacific market over the forecast period owing to rapid economic growth coupled with increased spending on infrastructure development in that country. Furthermore, growing manufacturing industries across Southeast Asian countries are likely boost product sales in this region significantly over the next eight years.
North America accounted for a substantial share of revenue generated by global electric commercial heavy vehicle markets due their high preference towards sustainable transportation solutions supported by government regulations favoring battery-electric trucks across U.S., Canada, and Mexico cities along with other regions including Montreal & Toronto).
Growth Factors:
- Increasing demand for electric commercial heavy vehicles from the logistics and transportation sector due to the growing awareness of the benefits of electric vehicles over traditional fuel-based vehicles.
- Government initiatives and regulations supporting the adoption of electric commercial heavy vehicles, such as subsidies, tax rebates, and emissions mandates.
- The increasing development of charging infrastructure for electric commercial heavy vehicles, making it easier for fleet operators to adopt these types of vehicles.
- Advances in battery technology that are making electric commercial heavy Vehicles more affordable and practical to operate over longer distances.
Scope Of The Report
Report Attributes
Report Details
Report Title
Electric Commercial Heavy Vehicle Market Research Report
By Type
Class 6- Medium Truck, Class 7-Heavy Truck, Class 8-Heavy Truck
By Application
Construction, Mining, Ports, Other
By Companies
Volvo Trucks, Daimler, BYD Truck, Iveco, Scania, MAN Truck & Bus, Faw Jiefang Group, DAF, Shaanxi Automobile Group, Volvo Trucks
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
242
Number of Tables & Figures
170
Customization Available
Yes, the report can be customized as per your need.
Global Electric Commercial Heavy Vehicle Market Report Segments:
The global Electric Commercial Heavy Vehicle market is segmented on the basis of:
Types
Class 6- Medium Truck, Class 7-Heavy Truck, Class 8-Heavy Truck
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Construction, Mining, Ports, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Volvo Trucks
- Daimler
- BYD Truck
- Iveco
- Scania
- MAN Truck & Bus
- Faw Jiefang Group
- DAF
- Shaanxi Automobile Group
- Volvo Trucks
Highlights of The Electric Commercial Heavy Vehicle Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Class 6- Medium Truck
- Class 7-Heavy Truck
- Class 8-Heavy Truck
- By Application:
- Construction
- Mining
- Ports
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electric Commercial Heavy Vehicle Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Electric commercial heavy vehicles are trucks, buses, and vans that use electric power to move cargo. They can be used for transportation of goods in urban or rural areas.
Some of the key players operating in the electric commercial heavy vehicle market are Volvo Trucks, Daimler, BYD Truck, Iveco, Scania, MAN Truck & Bus, Faw Jiefang Group, DAF, Shaanxi Automobile Group, Volvo Trucks.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Electric Commercial Heavy Vehicle Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Electric Commercial Heavy Vehicle Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Electric Commercial Heavy Vehicle Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Electric Commercial Heavy Vehicle Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Electric Commercial Heavy Vehicle Market Size & Forecast, 2018-2028
4.5.1 Electric Commercial Heavy Vehicle Market Size and Y-o-Y Growth
4.5.2 Electric Commercial Heavy Vehicle Market Absolute $ Opportunity
Chapter 5 Global Electric Commercial Heavy Vehicle Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Electric Commercial Heavy Vehicle Market Size Forecast by Type
5.2.1 Class 6- Medium Truck
5.2.2 Class 7-Heavy Truck
5.2.3 Class 8-Heavy Truck
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Electric Commercial Heavy Vehicle Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Electric Commercial Heavy Vehicle Market Size Forecast by Applications
6.2.1 Construction
6.2.2 Mining
6.2.3 Ports
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Electric Commercial Heavy Vehicle Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Electric Commercial Heavy Vehicle Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Electric Commercial Heavy Vehicle Analysis and Forecast
9.1 Introduction
9.2 North America Electric Commercial Heavy Vehicle Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Electric Commercial Heavy Vehicle Market Size Forecast by Type
9.6.1 Class 6- Medium Truck
9.6.2 Class 7-Heavy Truck
9.6.3 Class 8-Heavy Truck
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Electric Commercial Heavy Vehicle Market Size Forecast by Applications
9.10.1 Construction
9.10.2 Mining
9.10.3 Ports
9.10.4 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Electric Commercial Heavy Vehicle Analysis and Forecast
10.1 Introduction
10.2 Europe Electric Commercial Heavy Vehicle Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Electric Commercial Heavy Vehicle Market Size Forecast by Type
10.6.1 Class 6- Medium Truck
10.6.2 Class 7-Heavy Truck
10.6.3 Class 8-Heavy Truck
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Electric Commercial Heavy Vehicle Market Size Forecast by Applications
10.10.1 Construction
10.10.2 Mining
10.10.3 Ports
10.10.4 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Electric Commercial Heavy Vehicle Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Electric Commercial Heavy Vehicle Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Electric Commercial Heavy Vehicle Market Size Forecast by Type
11.6.1 Class 6- Medium Truck
11.6.2 Class 7-Heavy Truck
11.6.3 Class 8-Heavy Truck
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Electric Commercial Heavy Vehicle Market Size Forecast by Applications
11.10.1 Construction
11.10.2 Mining
11.10.3 Ports
11.10.4 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Electric Commercial Heavy Vehicle Analysis and Forecast
12.1 Introduction
12.2 Latin America Electric Commercial Heavy Vehicle Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Electric Commercial Heavy Vehicle Market Size Forecast by Type
12.6.1 Class 6- Medium Truck
12.6.2 Class 7-Heavy Truck
12.6.3 Class 8-Heavy Truck
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Electric Commercial Heavy Vehicle Market Size Forecast by Applications
12.10.1 Construction
12.10.2 Mining
12.10.3 Ports
12.10.4 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Electric Commercial Heavy Vehicle Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Electric Commercial Heavy Vehicle Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Electric Commercial Heavy Vehicle Market Size Forecast by Type
13.6.1 Class 6- Medium Truck
13.6.2 Class 7-Heavy Truck
13.6.3 Class 8-Heavy Truck
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Electric Commercial Heavy Vehicle Market Size Forecast by Applications
13.10.1 Construction
13.10.2 Mining
13.10.3 Ports
13.10.4 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Electric Commercial Heavy Vehicle Market: Competitive Dashboard
14.2 Global Electric Commercial Heavy Vehicle Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Volvo Trucks
14.3.2 Daimler
14.3.3 BYD Truck
14.3.4 Iveco
14.3.5 Scania
14.3.6 MAN Truck & Bus
14.3.7 Faw Jiefang Group
14.3.8 DAF
14.3.9 Shaanxi Automobile Group
14.3.10 Volvo Trucks
