Global Electric Commercial Vehicle Market 2020-2024
Technavio has been monitoring the electric commercial vehicle market and it is poised to grow by 531.99 th units during 2020-2024 progressing at a CAGR of 25% during the forecast period. Our reports on the electric commercial vehicle market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the growing focus on reducing vehicular emissions, increasing adoption of EVs for improved logistics and transportation, and favorable government initiatives.
The electric commercial vehicle market analysis includes product segment and geographic landscape.
Technavio's electric commercial vehicle market is segmented as below:
- Heavy and medium commercial vehicles
By Geographic Landscapes
- North America
- South America
This study identifies the growing focus on strategies to develop advanced ECVs as one of the prime reasons driving the electric commercial vehicle market growth during the next few years. Also, technological advances in ECVs and the integration of telematics and autonomous technologies will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our electric commercial vehicle market covers the following areas:
- Electric commercial vehicle market sizing
- Electric commercial vehicle market forecast
- Electric commercial vehicle market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading electric commercial vehicle market vendors that include AB Volvo, BYD Co. Ltd., Daimler AG, Ford Motor Co., Hyundai Motor Co., Navistar International Corp., Nissan Motor Co. Ltd., Tata Motors Ltd., Tesla Inc., and Toyota Motor Corp. Also, the electric commercial vehicle market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.