Electric Logistics Vehicle Market Scope
In recent times, electric vehicles are becoming more popular for various applications as more and more industries are focusing on the reduction of GHG emissions. It is widely adopted in the logistics industry with the aim of to reduce emissions throughout the supply chain and increasing demand for fast & cheap shipping. The high growth of third-party logistics providers due to increasing consumers’ preference towards online shopping and outsourcing of logistics services by the industries will accelerate the market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | BYD Auto (China), The Mercedes-Benz Group AG (Germany), SAIC Motor (China), BAIC Group (China), Volvo (Sweden), Nissan (Japan), StreetScooter GmbH (Germany), Groupe Renault (France), Dongfeng Motor Corporation (China), Electric Last Mile (United States), Lordstown Motors (United States), Workhorse (United States) and Tata Motors (India) |
CAGR | % |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new mobility solutions, which is likely to encourage the growth of the global market throughout the forecast period.
BYD Auto (China), The Mercedes-Benz Group AG (Germany), SAIC Motor (China), BAIC Group (China), Volvo (Sweden), Nissan (Japan), StreetScooter GmbH (Germany), Groupe Renault (France), Dongfeng Motor Corporation (China), Electric Last Mile (United States), Lordstown Motors (United States), Workhorse (United States) and Tata Motors (India) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Electric Logistics Vehicle market by Type and Region with country level break-up.
On the basis of geography, the market of Electric Logistics Vehicle has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In October 2021, BYD Auto collaborated with Levo Mobility LLC, a joint venture of Nuvve Holding Corp. to deploy medium and heavy-duty battery-electric vehicles to accelerate and transform the transportation sector. With this deal, BYD will leverage Nuvve’s V2G technology and high-powered bidirectional charging stations and accelerate the reduction of harmful CO2 emissions.
The Southeast Coast and Southeast Asian Markets are Radiated by SAIC's New Passenger Vehicle Base, which is Located in Ningde, Fujian and Features Own Brand and New Energy Vehicles
Influencing Trend:
Emerging Trend of Micro Carrier in Logistics to Overcome traffic Issues
Market Growth Drivers:
Increasing Investment in the Electric Fleets by the Third-party Logistic Companies and Increasing Government Initiatives Towards the Adoption of EVs to Reduce the GHG Emission
Challenges:
Range Issue of Electric Vehicles May Limit the Adoption in the Logistic Industry
Restraints:
Less Acceptance Due to Inadequate EV Charging Infrastructure Facilities and High Cost of Micro Vehicles
Opportunities:
Declination of Average Length-of-Haul Will Create Significant Opportunities
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Electric Logistics Vehicle Manufacturers, Raw Material Providers, Automotive Manufacturers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End Users and Others