The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Government subsidies to consumers and manufacturers are expected to drive innovation in commercial electric vehicles manufacturing, thus driving the market during the forecast period.

The global commercial electric vehicles 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 commercial electric vehicle market size is expected to grow to $303.15 billion in 2026 at a CAGR of 31.5%.

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Global Commercial Electric Vehicles Market Segments Include:

• 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 market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

Major Market Players in the commercial electric vehicles market include Tesla, Nissan, BMW, Chevrolet, Ford, Volkswagen, Kia Motors, Audi, BYD, and Daimler.

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. For instance, Earthday, a Catalan startup, introduced fast-charging graphene-based batteries that weigh only 55 kg and use a paste-like electrolyte based on graphene. Earthday claims that the graphene-based battery charges up to 1350 times faster than normal batteries based on lithium technology.

The Commercial Electric Vehicles Global Market Report 2023  provides a commercial electric vehicles market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The commercial electric vehicles market forecast analyzes commercial electric vehicles market size, commercial electric vehicles market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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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