Electric Commercial Vehicle Market worth 2,026 thousand units by 2028

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MarketsandMarkets Presents

Electric Commercial Vehicle Market worth 2,026
thousand units by 2028
https//www.marketsandmarkets.com/Market-Reports/e
lectric-commercial-vehicle-market-16430819.html
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The report "Electric Commercial Vehicle Market by
Propulsion Type, Vehicle Type, Range, Battery
Type, Length of Bus, Power Output Type, Battery
Capacity Type, Component Type, Autonomous
Vehicles Type, End User and Region", The global
electric commercial vehicle size is projected to
grow from 129 thousand units in 2020 to reach
2,026 thousand units by 2028, at a CAGR of 41.1.
The growth of the electric commercial vehicle
market can be attributed to the increasing focus
of countries on the electrification of their
public transport fleets and the increasing demand
for zero emission vehicles in the logistics
sector. Advancements in battery pack technologies
and electric powertrains are some of the major
factors driving the growth of the electric
commercial vehicle industry. Browse 188 market
data Tables and 65 Figures spread through 234
Pages and in-depth TOC on "Electric Commercial
Vehicle Market Factors such as rise in
pollution and environmental hazards, stringent
government regulations, and stiff competition
have compelled automotive OEMs to make
fuel-efficient and environment-friendly vehicles.
Thus, the electric commercial vehicle market is
expected to witness significant growth in the
future.
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The global electric commercial vehicle market is
dominated by major players such as BYD (China),
Yutong (China), Proterra (US), VDL Groep
(Netherlands), and AB Volvo (Sweden). Download
PDF Brochure _at_ https//www.marketsandmarkets.com/p
dfdownloadNew.asp?id16430819 Asia Pacific is
expected to lead the global market during the
forecast period The Asia Pacific region is the
largest electric commercial vehicle market in the
world. It comprises some of the fastest
developing and developed economies in the world,
such as China, India, and Japan. The market
growth in the region can be attributed to the
dominance of Chinese market in the electric bus
segment and the presence of market leading OEMs
in the country as well, resulting in the
exponential growth of electric commercial vehicle
market in Asia Pacific. The large demand for
electric buses, favorable regulations for
electric commercial vehicles, and the rapidly
growing logistics sector are expected to boost
the electric commercial vehicle market in the
region.
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North America electric van segment is expected
to grow at the highest CAGR The North American
electric van segment is expected to be the
fastest market as there is a high demand for
electric vans from the logistics sector. The
increasing demand for electric vans in the
logistics sector and focus on the electrification
of public transport fleet are driving the
electric commercial vehicle market. The growth of
the logistics and e-commerce sectors is expected
to drive the market for electric vans during the
forecast period. The usage of electric vans in
the logistics sector would minimize the cost of
transportation. Many leading logistics companies
in North America and Europe have started using
electric vans for shipping and delivery purposes.
For instance, DHL, one of the leading logistics
companies in the world, is using electric vans
while Amazon announced plans to use electric
delivery vans to be built by Rivian. Request
FREE Sample Report _at_ https//www.marketsandmarkets
.com/requestsampleNew.asp?id10199544
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North America U.S is expected to lead the
market The North American region is projected to
be the fastest-growing market during the forecast
period. The region is a hub to major players such
as Proterra (California, U.S), Tesla (California,
U.S), Workhorse Group (Ohio, U.S), Nikola Motor
Company (Arizona, U.S) and Rivian (Michigan,
U.S). North America is a key region for
innovations significant RD and technological
advancements in electric vehicles, battery
technologies, and charging solutions. U.S is the
largest market in North America, followed by
Canada. Also,U.S, is home to many established
OEMs providing electric vehicles and also has a
higher adoption rate for electric commercial
vehicles. To speak to our analyst for a
discussion on the above findings, click Speak to
Analyst
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