The global Electric Commercial Vehicle Market, by value, is estimated to grow from USD 60.41 billion in 2024 to USD 248.20 billion by 2030, with a CAGR of 26.6%.

Global electric commercial vehicle sales have surged due to regulatory incentives, technological advancements, and economic benefits. Additionally, growing last-mile delivery and urban logistics are driving the growth in electric commercial vehicles. The Asia Pacific region, particularly China, leads this growth with a well-established supply chain and innovative battery technologies. Additionally, declining battery costs and increasing model availability drive the electric commercial vehicle market. Furthermore, the need for reduced operational costs, improved air quality in urban areas, and corporate sustainability goals are significant factors driving the market.

Browse more than 290 market data tables and 115 figures spread through more than 380 Pages and in-depth TOC on “Electric Commercial Vehicle Market: Global Forecast to 2030.”

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“The full-size vans market is expected to grow at the fastest CAGR during the forecast period.”

Full-size electric vans are primarily used in logistics, e-commerce, distribution, and refrigerated services. The factors driving the full-size electric vans are increased demand for last-mile delivery, advancement in battery technology, and government incentives for electric vans. Stricter emissions regulations, such as the introduction of Phase-3 GHG emission standards for heavy-duty vehicles (model years 2027 to 2032) in EPA Phase 3 GHG Emission Standards (April 2024) and Euro 7 regulation (expected from mid-2025) with strict limits on pollutants from all types of vehicles, will boost the adoption of full-sized electric vans. The transport business is buying electric vans to reduce operating costs and meet net-zero targets, particularly in logistics, delivery services, and e-commerce. The full-size electric is usually offered with an output of 80–100 kW with LFP and NMC batteries according to the needs of OEMs. The charging infrastructure expansion has been critical to adopting full-size electric vans. Until December 2024, Europe had 882,012 public chargers in operation, from which 0.4 million chargers were installed for light commercial vehicles and 0.1 million for trucks and buses. In contrast, in North America, the electric charging stations were around 9,000 in 2023 for all vehicle types. Hence, these investments from the OEMs and environmental regulations are driving the market for full-size vans.

“The 60–120 kWh battery capacity holds the largest market during the forecast period.”

The 60–120 kWh battery capacity segment offers a better range with operational flexibility. These are primarily used on medium-duty applications such as regional freight and inter-city logistics, where vehicles cover distances of ~300 miles on a single charge. Models like the Ford E-Transit and Renault Master E-Tech utilize this capacity for urban delivery fleets. The electric light commercial vehicles (eLCVs) used for urban and regional deliveries benefit from 60-120 kWh battery capacities. This range is ideal as it is used for low operational distance and low payload efficiency. Alternatively, if the smaller batteries are used in light commercial vehicles, they would limit the range and increase charging downtime. Lastly, larger batteries in electric commercial vehicles have higher vehicle load carrying capacity and overall efficiency but are heavy.

This segment’s new developments focus on advancing battery chemistry and manufacturing scalability. The LFP (lithium iron phosphate) and NMC (nickel manganese cobalt) batteries dominate, with companies like BYD and Gotion High-Tech investing in high-density LFP cells (e.g., 190Wh/kg) to extend range without compromising payload. The partnership deals between OEMs and battery manufacturers also drive the demand for 60 – 120 kWh battery capacity for commercial vehicles. Considering all these benefits, the 60-120 kWh batteries are ideal for eLCVs.

“North America is the fastest growing region for electric commercial vehicles during the forecast period.”

The electric commercial vehicle market in North America has experienced a growth in sales due to regulatory incentives, infrastructure investments, and technological advancements in battery technology, compelling logistics and transportation firms to drive the market for electric fleets in this region. The electric Van with (3–7 tonnes) has the highest market share with >55% in terms of value in 2023 due to increased demand for last-mile delivery and freight transportation to reduce pollution.

In North America, the US is expected to register the largest growth in the Electric commercial vehicle market due to increased demand for electric commercial vehicles. The key factors contributing to this expansion include the ambitious goal of the Trump administration in the US to establish 500,000 public chargers by 2030. Also, the tax benefits and incentives policy have fuelled the demand for electric commercial vehicles. The Trump administration has announced plans to eliminate federal tax credits for electric vehicles (EVs), which includes a USD 7,500 incentive under the Biden administration’s Inflation Reduction Act for the new cars. In contrast, the used electric cars will get a tax benefit of USD 4,000 if the vehicle costs under USD 25,000. This law, which the Trump government implemented to reduce the EV cost for customers, is driving the market in the US. The key players in battery technology are also investing in this region to cater to the increasing demand for electric commercial vehicles. Toyota invested USD 14 billion in the North Carolina battery plant to manufacture batteries for hybrids and BEVs starting in April 2025. Also, Bipartisan Infrastructure Law (BIL) allocated USD 5 billion for five years (FY 2022-2026) to many states, including Puerto Rico, to strategically deploy EV charging infrastructure and establish an interconnected national network. Hence, with the increase in charging infrastructure and regulation mandate, the demand for electric commercial vehicles has increased in North America, which is driving the demand.

Key Market Players:

The electric commercial vehicle market is dominated by established players such as BYD (China), Mercedes-Benz Group AG (Germany), Yutong Bus Co., Ltd. (China), AB Volvo (Sweden), Ford Motor Company (US), Tesla Inc. (US), PACCAR Inc (US), Scania AB (Sweden), Dongfeng Motor Company (China), General Motors (US), VDL GROEP, and Rivian. These companies adopted strategies such as product developments, deals, and others to gain traction in the market.

Key Players Strategies

• In October 2024, Arriva (UK) launched 21 new electric buses in the Madrid area, which were designed and manufactured by BYD (China) in collaboration with coachbuilder Castrosua (Spain).
• In June 2024, BYD launched its T4K electric refrigerator truck for South Korea. The T4K was equipped with an 82-kWh lithium iron phosphate (LFP) blade battery, allowing it to travel up to 205 kilometers at room temperature and 164 kilometers at low temperatures.
• In April 2024, Daimler India Commercial Vehicles announced the launch of their first electric truck named “eCanter” in the next 6 to 12 months (There is no update yet for commercial launch).
• In January 2024, Mercedes-Benz announced its plan to double its plant capacity from 20,000 units to 40,000 units per annum. It has invested approx. USD 2.4 billion (Rs 200 crore) to scale up manufacturing operations at its Pune plant (India) in 2024.

Study Coverage

The Market Study Covers the electric commercial vehicle market By Propulsion (BEV, FCEV), Vehicle Type (Medium-duty Trucks, Heavy-duty Truck, Electric Pickup Trucks, Light Vans, Full-size Vans, and Buses & Coaches), Range, Battery Type (LFP Batteries, NMC Batteries, Solid-state Batteries, and Others), Power Output (Less than 100 kW, 100−250 kW, and Above 250 kW), Battery Capacity (Less than 60 kWh, 60−120 kWh, 121−200 kWh, 201−300 kWh, 301−500 kWh, and 501−1,000 kWh), End Use (Last-mile Delivery, Field Services, Distribution Services, Refuse Trucks, Long-haul Transportation), by Body Construction (Integrated, Semi-integrated, and Full-sized) and Region (Asia Pacific, Europe and North America).

The report’s scope covers detailed information regarding the major factors influencing the market’s

growth, such as drivers, restraints, challenges, and opportunities.

A detailed analysis of the key industry players has been done to provide insights into their business

overview solutions, key strategies, Contracts, partnerships, agreements, new product launches, mergers and acquisitions, and recent developments associated with the market.

This report covers the competitive analysis of upcoming startups/SMEs in electric commercial vehicle market ecosystem.

The report description on the website provides brief information on the research methodology.
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