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Commercial Electric Vehicle Market Size, Latest Trends, Scope, Competitive Analysis, Revenue and Forecast 2029

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The Global Commercial Electric Vehicle Market was estimated at 234.16 Thousand units in 2021 and is anticipated to reach 1200.43 Thousand units by 2028, growing at a CAGR of 26.3%.

Electricity can power not only cars, but also commercial vehicles such as buses, trucks, vans, and vehicles used in agriculture and building industry. Electric vehicles are more environmentally friendly, quieter, and efficient than gasoline vehicles. Furthermore, commercial vehicles require a lot of fuel and thus consume far more diesel than a car. However, fossil fuels such as oil are limited. They also contribute significantly to air pollution: in the EU, commercial vehicles account for 25% of CO2 emissions from traffic, and thus 5% of total greenhouse gas emissions. As electric commercial vehicles do not consume any fossil fuels they do not emit any CO2 in operation. They are completely clean if their electricity comes from renewable sources.

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The latest research on the Global Commercial Electric Vehicle Market provides a comprehensive overview of the market for the years 2022 to 2028. It gives a comprehensive picture of the global Commercial Electric Vehicle industry, considering all significant industry trends, market dynamics, and competitive landscape. In addition, the analysis includes critical information on the Commercial Electric Vehicle Market status of the main market players, major trends, and future market development opportunities.

 Leading Key Players Covered Commercial Electric Vehicle Market: -

  • Traton SE
  • AB Volvo
  • BYD Auto Co. Ltd
  • Daimler AG
  • Zhongtong Bus Holding
  • Anhui Ankai Automobile Co. LTD
  • Proterra Inc.
  • Rivian
  • Tata Motors Limited
  • Tesla Inc.
  • Ford Motor Company
  • NFI Group Inc and Other Major Players.

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The Report Will Contains A Crucial Chapter

  • Patent Analysis
  • Regulatory Framework
  • Technology Roadmap
  • BCG Matrix
  • Heat Map Analysis
  • Price Trend Analysis
  • Investment Analysis
  • Company Profiling and Competitive Positioning
  • Industry Value Chain Analysis
  • Market Dynamics and Factors
  • Porter’s Five Forces Analysis
  • Pestle Analysis
  • SWOT Analysis

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Segmentation of Commercial Electric Vehicle Market: -

By Vehicle Type       

  • Bus
  • Trucks
  • Pick-up Trucks
  • Vans

By Propulsion           

  • Battery Electric Vehicles
  • Plug-in Hybrid Electric Vehicles
  • Fuel Cell Electric Vehicles

By End Users

  • Last Mile Delivery
  • Distribution Services
  • Transportation
  • Others

 By Region    

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

COVID-19 Impact on The Commercial Electric Vehicle Market

COVID-19's effects have significantly altered the business environment for 2020 and had a detrimental effect on both production and sales across the board for the automobile industry. The COVID-19 epidemic caused a significant blow to the global economy. Global sales of electric vehicles were, on average, 15% lower in the first half of 2020 than in 2019. The growth of the Commercial Electric Vehicle business was adversely impacted by the drop in electric car sales. However, it is anticipated that future market acceptance would be favored by the economic recovery and governments gradually removing lockup restrictions.

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