Electric Commercial Vehicles Market Size, Share, Opportunities, And Trends By Vehicle Type (Buses and Coaches, Trucks (Light-Duty Trucks, Medium-Duty Trucks, Heavy-Duty Trucks), Vans, Pick-up Trucks) By Propulsion (Battery Electric Vehicles (BEVs), Plug-in Hybrid Electric Vehicles (PHEVs), Fuel Cell Electric Vehicles (FCEVs)), By Power Output (Less than 150 kW 150-250 kW, Above 250 kW), By Application (Logistics and Transportation, Public Transportation, Construction and Mining, Agriculture, Others), And By Geography - Forecasts From 2025 To 2030

Electric Commercial Vehicles Market Size:

The Electric Commercial Vehicles Market is set to witness robust growth at a CAGR of 15.23% during the forecast period to be worth US$228.202 billion in 2030 from US$112.337 billion in 2025.

Electric Commercial Vehicles Market Trends:

The market for electric commercial vehicles is growing due to environmental concerns, lower costs, and technological advancements. Strict governmental emission regulations are being established worldwide to fight climate change because EVs deliver zero-emissions capabilities. These automobiles present reduced maintenance costs and lower operating expenses due to their usage of less expensive electricity and lowered maintenance intensity. The performance of electric commercial vehicles, a broader accessible charging network, enhanced battery technology, and electric drivetrain developments become more attainable for these vehicles.

Electric Commercial Vehicles Market Growth Drivers:

• Stringent Regulatory Support and Environmental Policies: Governments worldwide enforce strict environmental rules that combine incentives and subsidiaries for Electric Vehicles to boost consumer demand for electric automobiles. The adoption of electric technology in commercial fleets is rising because companies are working to attract eco-conscious consumers and minimize their carbon emissions. In August 2024, India launched its BHARAT Zero Emission Trucking Policy to push zero-emission trucking projects while decreasing transportation sector emissions, targeting 100% sales penetration by 2050 as a part of the Net Zero 2070 commitment.
• Growing Technological Advancement:  New EV battery technologies and improved EV charging technologies in the commercial sector allow drivers to operate vehicles with heavier load limits for longer distances. Fast-charging networks have helped remove range anxiety for electric commercial vehicle operators, thus making these vehicles more approachable for fleet operations. Fleet operators find electric commercial automobiles highly appealing as companies push forward their commercial EV portfolio investments. In November 2024, Mahindra Last Mile Mobility Limited achieved leadership status in sustainable transportation and commercial EV innovation by selling over 2,00,000 electric vehicles in India.

Electric Commercial Vehicles Market Segmentation Analysis by Vehicle Type:

• Buses and Coaches: Widespread adoption in city transportation systems drives the demand for electric buses and couches because they provide lower costs for ownership and service. There is also broad governmental backing for zero-emission public transport.
• Trucks: The electric truck segment is growing significantly because logistics companies aim to lower environmental impact and operational costs. Established auto producers develop new vehicle models at expanded capacity while improving electrical range performance and fast refueling technology.

Electric Commercial Vehicles Market Segmentation Analysis by Propulsion:

• Battery Electric Vehicles (BEVs): The BEV segment holds the largest market share for electric commercial vehicles by controlling extensive sales. The current increase in consumer demand for zero-emission vehicles drives manufacturers to create fully electric models for their product lines. Electric vehicle development experts are advancing lithium-ion batteries to increase this vehicle range while lowering prices.
• Plug-in Hybrid Electric Vehicles (PHEVs): Blending electric components with traditional combustion power into PHEVs provides businesses with flexible electric range capabilities despite limited charging options. Current electric models enable fleet operators to reduce their reliance on fossil fuels for city driving while they await the complete transition to electric vehicles.

Electric Commercial Vehicles Market Geographical Outlook:

The Electric Commercial Vehicles Market report analyzes growth factors across the following five regions:

• North America:  Widespread interest in zero-emission vehicles, growing environmental awareness, and rising fuel prices are driving electric vehicle adoption across North America. Programs like California's Advanced Clean Trucks regulation and New York City's Clean Trucks Program are contributing to the regional market growth.
• South America: South American electric commercial vehicle adoption rates have risen quickly as Brazil and Chile emerge at the forefront of the market. Sustainable transportation development and pollution reduction form the core objectives of present government programs. Insufficient charging infrastructure hinders market expansion; thus, government investments in renewable energy will be necessary for further development.
• Europe:  European nations are making headway toward electric car adoption through solid regulatory systems and investments in charging stations. The EU's Green Deal envisions reducing emissions until they reach almost 55% of their previous levels by 2030, alongside Germany and the UK, among other countries operating as pioneers in infrastructure design.
• Middle East and Africa: Growing environmental awareness in urban areas in the Middle East and African region is increasing the exploration of EVs in South African markets. Proper charging infrastructure is critical, but insufficient policy support hinders the successful adoption of electric commercial vehicles.
• Asia-Pacific: Due to rapid urbanization, demand for efficient public transport solutions is surging across the Asia-Pacific region, where China and India are leading nations. China's BEV market success relies on government support through policies and monetary support, yet India advances the electric mobility drive through policies like FAME II.

Electric Commercial Vehicles Market– Competitive Landscape:

• Daimler Truck
• BYD Co., Ltd.
• Tesla, Inc.
• Volvo Trucks

Companies are securing stronger market standings through fresh product launches and strategic alliance formation as major vehicle producers collaborate with technology organizations to develop enhanced powertrain and charging infrastructure. New startup ventures continue to access this market by introducing revolutionary business concepts alongside unique technological approaches.

Electric Commercial Vehicles Market Latest Developments:

• In October 2024, Volvo announced that it plans to launch an FH Electric version with an increased range of 600 km on one full charge. This will allow transport businesses to cover long-range interstate runs and operate throughout an entire working day before needing to recharge. This long-range electric truck model is expected to become available during the second half of 2025.
• In April 2024, Daimler India Commercial Vehicles (DICV) under Daimler Truck AG unveiled the all-electric light-duty truck Next Generation eCanter for India's market while developing a sustainable CO2-neutral propulsive strategy for future products through the battery-electric market entry.

Electric Commercial Vehicles Market Scope:

Report Metric	Details
Electric Commercial Vehicles Market Size in 2025	US$112.337 billion
Electric Commercial Vehicles Market Size in 2030	US$228.202 billion
Growth Rate	CAGR of 15.23%
Study Period	2020 to 2030
Historical Data	2020 to 2023
Base Year	2024
Forecast Period	2025 – 2030
Forecast Unit (Value)	USD Billion
Segmentation	Vehicle Type Propulsion Power Output Application Geography
Geographical Segmentation	North America, South America, Europe, Middle East and Africa, Asia Pacific
List of Major Companies in the Electric Commercial Vehicles Market	BYD Co., Ltd. Tesla, Inc. Ford Motor Company Rivian Workhorse
Customization Scope	Free report customization with purchase

 

Electric Commercial Vehicles Market is analyzed into the following segments:

• By Vehicle Type
  • Buses and Coaches
  • Trucks
    • Light-Duty Trucks
    • Medium-Duty Trucks
    • Heavy-Duty Trucks
  • Vans
  • Pick-up Trucks
• By Propulsion
  • Battery Electric Vehicles (BEVs)
  • Plug-in Hybrid Electric Vehicles (PHEVs)
  • Fuel Cell Electric Vehicles (FCEVs)
• By Power Output
  • Less than 150 kW
  • 150-250 kW
  • Above 250 kW
• By Application
  • Logistics and Transportation
  • Public Transportation
  • Construction and Mining
  • Agriculture
  • Others
• By Geography
  • North America
    • USA
    • Canada              
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Taiwan
    • Australia
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View

5. ELECTRIC COMMERCIAL VEHICLES MARKET BY VEHICLE TYPE

5.1. Introduction

5.2. Buses and Coaches

5.3. Trucks

5.3.1. Light-Duty Trucks

5.3.2. Medium-Duty Trucks

5.3.3. Heavy-Duty Trucks

5.4. Vans

5.5. Pick-up Trucks

6. ELECTRIC COMMERCIAL VEHICLES MARKET BY PROPULSION 

6.1. Introduction

6.2. Battery Electric Vehicles (BEVs)

6.3. Plug-in Hybrid Electric Vehicles (PHEVs)

6.4. Fuel Cell Electric Vehicles (FCEVs)

7. ELECTRIC COMMERCIAL VEHICLES MARKET BY POWER OUTPUT

7.1. Introduction

7.2. Less than 150 kW

7.3. 150-250 kW

7.4. Above 250 kW

8. ELECTRIC COMMERCIAL VEHICLES MARKET BY APPLICATION

8.1. Introduction

8.2. Logistics and Transportation

8.3. Public Transportation

8.4. Construction and Mining

8.5. Agriculture

8.6. Others

9. ELECTRIC COMMERCIAL VEHICLES MARKET BY GEOGRAPHY

9.1. Introduction

9.2. North America

9.2.1. By Vehicle Type

9.2.2. By Propulsion

9.2.3. By Power Output

9.2.4. By Application

9.2.5. By Country

9.2.5.1. USA

9.2.5.2. Canada

9.2.5.3. Mexico

9.3. South America

9.3.1. By Vehicle Type

9.3.2. By Propulsion

9.3.3. By Power Output

9.3.4. By Application

9.3.5. By Country

9.3.5.1. Brazil

9.3.5.2. Argentina

9.3.5.3. Others

9.4. Europe

9.4.1. By Vehicle Type

9.4.2. By Propulsion

9.4.3. By Power Output

9.4.4. By Application

9.4.5. By Country

9.4.5.1. United Kingdom

9.4.5.2. Germany

9.4.5.3. France

9.4.5.4. Spain

9.4.5.5. Others

9.5. Middle East and Africa

9.5.1. By Vehicle Type

9.5.2. By Propulsion

9.5.3. By Power Output

9.5.4. By Application

9.5.5. By Country

9.5.5.1. Saudi Arabia

9.5.5.2. UAE

9.5.5.3. Others

9.6. Asia Pacific

9.6.1. By Vehicle Type

9.6.2. By Propulsion

9.6.3. By Power Output

9.6.4. By Application

9.6.5. By Country

9.6.5.1. China

9.6.5.2. Japan

9.6.5.3. India

9.6.5.4. South Korea

9.6.5.5. Taiwan

9.6.5.6. Others

10. COMPETITIVE ENVIRONMENT AND ANALYSIS

10.1. Major Players and Strategy Analysis

10.2. Market Share Analysis

10.3. Mergers, Acquisitions, Agreements, and Collaborations

10.4. Competitive Dashboard

11. COMPANY PROFILES

11.1. BYD Co., Ltd.

11.2. Tesla, Inc.

11.3. Ford Motor Company

11.4. Rivian

11.5. Workhorse

11.6. Nikola Motor Company

11.7. Daimler Truck

11.8. Volvo Trucks

11.9. Scania

11.10. MAN Truck & Bus 

11.11. Hyundai Motor Company 

11.12. Tata Motors 

11.13. Mahindra

BYD Co., Ltd.

Tesla, Inc.

Ford Motor Company

Rivian

Workhorse

Nikola Motor Company

Daimler Truck

Volvo Trucks

Scania

MAN Truck & Bus 

Hyundai Motor Company 

Tata Motors 

Mahindra