What is Electric Commercial Vehicle?
Electric commercial vehicles are powered by electricity instead of diesel or gasoline. They can be buses, vans, trucks, agricultural vehicles, such as combine harvesters or tractors, and construction machinery such as excavators or wheel loaders. The energy that drive the vehicles comes from an on-board battery, which is recharged from the power grid.
The market study is broken down by Type (Battery Electric Vehicles (BEV), Plug-in Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicles (HEV) and Fuel Cell Electric Vehicle (FCEV)) and major geographies with country level break-up.
Analysts at AMA Research estimates that Vendors from German will contribute to the maximum growth of Global Electric Commercial Vehicle market throughout the predicted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Daimler (Germany), Nissan (Japan), Proterra (United States), ABB (Switzerland), Delphi Technologies (United Kingdom), Continental (Germany), Tesla (United States), Mahindra (India), Tata (India), Hyundai Motor Company (South Korea), ZF Friedrichshafen AG (Germany) and BYD (China) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Electric Commercial Vehicle market by Type, Application and Region.
On the basis of geography, the market of Electric Commercial Vehicle has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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). If we see Market by Components, the sub-segment i.e. Electric Motor will boost the Electric Commercial Vehicle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle Type, the sub-segment i.e. Buses will boost the Electric Commercial Vehicle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On May 20, 2019 - Panasonic, the world’s leading automotive battery supplier, has announced collaboration with Tropos Motors, the companies will bring advanced levels of connectivity, efficiency and performance to compact commercial vehicles; the second largest class of fleet vehicles and On May 21, 2019 - Proterra, a leading innovator in heavy-duty electric transportation, has announced a collaboration with Michelin to develop the MICHELIN X InCity Energy Z tire, a new low rolling resistance tire designed and optimized for battery-electric buses in urban environments.
On August 6, 2019 - Proterra, a leading innovator in heavy-duty electric transportation, has launched Proterra Powered vehicle electrification solutions, leveraging Proterra’s industry-leading electric vehicle technology and expertise to help commercial vehicle manufacturers electrify their heavy-duty vehicles.
The Chinese government has announced several programs to promote the development of EV in China. Some of the major initiatives covered include development plan for fuel-efficient and new energy vehicles (2011-2020), ten cities, one thousand vehicles program and research and development support policies.
Market Trend
- Advancement in Electric Commercial Vehicles
- Adoption of Electric Trucks for Urban Logistics
Market Drivers
- Increasing Demand for Electric Vehicles
- Government Regulations to Reduce the Greenhouse Gases Emitted By Vehicles
Opportunities
- Rapid Depletion of Non-Renewable Sources of Energy
- Growing Demand for Electric Trucks in both Developed and Developing Countries
Restraints
- High Initial Cost of Vehicle
- Stringent Government and Energy Association Rules for Installation of Charging Station
Challenges
- High Making Cost of Electric Vehicles In Comparison With Internal Combustion Engine Vehicles
Key Target Audience
Manufacturers of Electric Commercial Vehicle, Suppliers of Electric Commercial Vehicle, Wholesalers, Distributors and Retailers of Electric Commercial Vehicle, Automotive Industry, Components Manufacturers and Governmental Bodies
Key Finding and Research Objectives
Focus of the study is to analyse characteristics that affect the nature of competition and pricing. Identifying Influencing factors keeping Electric Commercial Vehicles Market Intense, factored with periodic analysis of CR4 & CR8 concentration ratio. Understanding policy and regulatory proposal, designing clear explanations of the stakes, potential winners and losers, and options for improvement. To categorize the impact of regulation on long-term market growth.
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.