Commercial Electric Vehicles Global Market Estimated To Grow At 32% Rate
The Business Research Company’s Commercial Electric Vehicles Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2030
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As per The Business Research Company’s “Commercial Electric Vehicles Global Market Report 2022”, the commercial EV market is expected to grow from $68.43 billion in 2021 to $101.44 billion in 2022 at a compound annual growth rate (CAGR) of 48.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The commercial electric vehicle market size is expected to grow to $303.15 billion in 2026 at a CAGR of 31.5%. Government subsidies to consumers and manufacturers help with the adoption of electric vehicles.
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Key Trends In The Commercial Electric Vehicles Market
Technological advances to improve charging speed and enhance battery design are the latest trend in the commercial electric vehicle market. Manufacturers are looking at solid-state batteries that use graphene as the potential solution and are expected to increase both the range and the charging speed of the batteries in electric vehicles. Apart from the improvements in battery design and charging speed, there will be a significant shift toward diversifying the sources of power for EVs. Solar panels have already become much more efficient at capturing the sun’s energy. With the recent development of three-phase charging, the most modern electric vehicles can charge up to 80% in just 30 minutes.
Overview Of The Commercial Electric Vehicles Market
Commercial electric vehicles are electrically powered, self-propelled electric vehicles used for transportation that help reduce greenhouse gas emissions (GHG) and pollution and work with the help of both electric motors working in tandem.
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Commercial Electric Vehicles Global Market Report 2022 from TBRC covers the following information:
Market Size Data
• Forecast period: Historical and Future
• By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
• By Technology: Battery Electric Vehicles, Hybrid Electric Vehicles, Plug-in Hybrid Electric Vehicles
• By Vehicle: Bus, Truck, Pick-Up Truck, Van
• By Charging Infrastructure: Pantograph, Plug-in, Inductive
• By Geography: The global commercial EV market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Major market players such as Tesla, Nissan, BMW, Chevrolet, Ford, Volkswagen, Kia Motors, Audi, BYD, and Daimler.
Trends, opportunities, strategies and so much more.
Commercial Electric Vehicles Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides an overview of commercial EV market. The market report analyzes commercial EV global market size, commercial electric vehicles global market growth drivers, commercial electric vehicles global market share, commercial EV global market segments, commercial EV global market major players, commercial EV global market growth across geographies, commercial electric vehicles global market trends and commercial EV global market competitors’ revenues and market positioning. commercial electric vehicles global market research report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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The Business Research Company has published over 3000 industry reports, covering over 3000 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.
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