Market Scenario
Global Electric Heavy Vehicle Market was volume 125,215 Unit in 2017 and is estimated to reach 1,831,865 Units by 2026 at a CAGR of about 39.85% during a forecast period.
The report electric heavy vehicle market based on propulsion, vehicles, and region. In terms of propulsion, the electric heavy vehicle market is classified into battery electric vehicle (BEV), hybrid electric vehicle (HEV), plug-in hybrid electric vehicle (PHEV), and fuel cell electric vehicle (FCEV). Based on vehicles, the electric heavy vehicle market is categorized into bus, truck, pick-up truck and van. Region wise into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
The major drivers of electric heavy vehicle market are the need for fuel-efficient and emission-free vehicles and the increase in demand for electric commercial vehicle such as electric truck in the logistics industry to minimize the additional liability of fuel expenses. With strong electric-vehicle technology, infrastructure is also becoming increasingly cost competitive and available which is the major factor that will drive the growth and adoption of electric heavy vehicles. The less number of charging stations and high cost involved in the initial development of electric heavy vehicle are restraining factors for the electric heavy vehicle market. Government funds and incentive programs to encourage adoption of electric heavy vehicles such as public buses and electric trucks will be creating opportunities in upcoming years.
Global Electric Heavy Vehicle Market
In terms of propulsion, battery electric vehicle accounts for the largest market share in the electric heavy vehicle market and is expected to grow with the highest CAGR during the forecast period because of its wide application in number of types of vehicles. The growth of BEV in electric heavy vehicle market is mainly due to two factors such as advancement in battery capacity which fulfils the power requirement in electric commercial vehicle and the decrease of the price of EV battery.
Based on vehicles, the market share for bus in electric heavy vehicle market is estimated to be the highest in 2017 and is expected to remain predominant during the forecast period. Various government mandates and individual country targets to phase out fossil fuel-based public transportation system and to replace them with electric buses will help the bus market grow over the forecast period.
In terms of region, Asia Pacific region is expected to hold the largest volume share of global electric heavy vehicle market in year 2017.The segment is projected to grow with a significant CAGR in the forecast period. On the other hand, U.S. is the fastest growing region for plug-in hybrid trucks market majorly fuelled by the introduction of new electric heavy vehicles and the regional market value is anticipated to increase at a CAGR of more than 50% during the forecast period.
Some of the key players in the electric heavy vehicle market are Orange EV, Tesla, Hino Heavy Vehicles, Isuzu Motors Limited, Nissan, Goupil Industries, Dong Feng Motors, Iveco, Efficient Drivetrains Inc (EDI), BYD, Wrightspeed, Renault & Groupe Delanchy, Cummins Inc., Daimler AG and Nikola Motor Company.
Scope of Global Electric Heavy Vehicle Market
Electric Heavy Vehicle Market by propulsion
• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)
• Plug-In Hybrid Electric Vehicle (PHEV)
• Fuel Cell Electric Vehicle (FCEV)
Electric Heavy Vehicle Market by Vehicles
• Bus
• Truck
• Pick-Up Truck
• Van
Electric Heavy Vehicle Market by Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key Players operating in Global Electric Heavy Vehicle Market
• Orange EV
• Tesla
• Hino Heavy Vehicles
• Isuzu Motors Limited
• Nissan
• Goupil Industries
• Dong Feng Motors
• Iveco
• Efficient Drivetrains Inc (EDI)
• BYD
• Wrightspeed
• Renault & Groupe Delanchy
• Cummins Inc.
• Daimler AG
• Nikola Motor Company
• Proterra
• LG Chem
• Samsung SDI
• Panasonic
• Delphi
• ABB
• Siemens
Table of Contents
Global Electric Heavy Vehicle Market
1. Preface
1.1. Report Scope and Market Segmentation
1.2. Research Highlights
1.3. Research Objectives
1.4. Key Questions Answered
2. Assumptions and Research Methodology
2.1. Report Assumptions
2.2. Abbreviations Used
2.3. Research Methodology
3. Executive Summary
3.1. Global Electric Heavy Vehicle Market Size, by Market Value (US$ Mn) and Market, by Region
4. Market Overview
4.1. Introduction
4.2. Market Indicator
4.3. Drivers and Restraints Snapshot Analysis
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.3.4. Porter’s Analysis
4.3.5. Value Chain Analysis
4.3.6. SWOT Analysis
5. Global Electric Heavy Vehicle Market Analysis and Forecast
5.1. Global Electric Heavy Vehicle Market Analysis and Forecast
5.2. Global Electric Heavy Vehicle Market Size& Y-o-Y Growth Analysis
5.2.1. North America
5.2.2. Europe
5.2.3. Asia Pacific
5.2.4. Middle East & Africa
5.2.5. Latin America
6. Global Electric Heavy Vehicle Market Analysis and Forecast, by Propulsion
6.1. Introduction and Definition
6.2. Key Findings
6.3. Global Electric Heavy Vehicle Market Value Share Analysis, by Propulsion
6.4. Market Size (US$ Mn) Forecast, by Propulsion
6.5. Global Electric Heavy Vehicle Market Analysis, by Propulsion
6.6. Electric Heavy Vehicle Market Attractiveness Analysis, by Propulsion
7. Global Electric Heavy Vehicle Market Analysis and Forecast, by Vehicles
7.1. Introduction and Definition
7.2. Global Electric Heavy Vehicle Market Value Share Analysis, by Vehicles
7.3. Market Size (US$ Mn) Forecast, by Vehicles
7.4. Global Electric Heavy Vehicle Market Analysis, by Vehicles
7.5. Global Electric Heavy Vehicle Market Attractiveness Analysis, by Vehicles
8. Global Electric Heavy Vehicle Market Analysis, by Region
8.1. Global Electric Heavy Vehicle Market Value Share Analysis, by Region
8.2. Market Size (US$ Mn) Forecast, by Region
8.3. Global Electric Heavy Vehicle Market Attractiveness Analysis, by Region
9. North America Electric Heavy Vehicle Market Analysis
9.1. Key Findings
9.2. North America Electric Heavy Vehicle Market Overview
9.3. North America Electric Heavy Vehicle Market Value Share Analysis, by Propulsion
9.4. North America Electric Heavy Vehicle Market Forecast, by Propulsion
9.4.1. Battery Electric Vehicle (BEV)
9.4.2. Hybrid Electric Vehicle (HEV)
9.4.3. Plug-In Hybrid Electric Vehicle (PHEV)
9.4.4. Fuel Cell Electric Vehicle (FCEV)
9.5. North America Electric Heavy Vehicle Market Value Share Analysis, by Vehicles
9.6. North America Electric Heavy Vehicle Market Forecast, by Vehicles
9.6.1. Bus
9.6.2. Truck
9.6.3. Pick-Up Truck
9.6.4. Van
9.7. North America Electric Heavy Vehicle Market Value Share Analysis, by Country
9.8. North America Electric Heavy Vehicle Market Forecast, by Country
9.8.1.1. U.S.
9.8.1.2. Canada
9.9. North America Electric Heavy Vehicle Market Analysis, by Country
9.10. U.S. Electric Heavy Vehicle Market Forecast, by Propulsion
9.10.1. Battery Electric Vehicle (BEV)
9.10.2. Hybrid Electric Vehicle (HEV)
9.10.3. Plug-In Hybrid Electric Vehicle (PHEV)
9.10.4. Fuel Cell Electric Vehicle (FCEV)
9.11. U.S. Electric Heavy Vehicle Market Forecast, by Vehicles
9.11.1. Bus
9.11.2. Truck
9.11.3. Pick-Up Truck
9.11.4. Van
9.12. Canada Electric Heavy Vehicle Market Forecast, by Propulsion
9.12.1. Battery Electric Vehicle (BEV)
9.12.2. Hybrid Electric Vehicle (HEV)
9.12.3. Plug-In Hybrid Electric Vehicle (PHEV)
9.12.4. Fuel Cell Electric Vehicle (FCEV)
9.13. Canada Electric Heavy Vehicle Market Forecast, by Vehicles
9.13.1. Bus
9.13.2. Truck
9.13.3. Pick-Up Truck
9.13.4. Van
9.14. North America Electric Heavy Vehicle Market Attractiveness Analysis
9.14.1. By Propulsion
9.14.2. By Vehicles
9.15. PEST Analysis
10. Europe Electric Heavy Vehicle Market Analysis
10.1. Key Findings
10.2. Europe Electric Heavy Vehicle Market Overview
10.3. Europe Electric Heavy Vehicle Market Value Share Analysis, by Propulsion
10.4. Europe Electric Heavy Vehicle Market Forecast, by Propulsion
10.4.1. Battery Electric Vehicle (BEV)
10.4.2. Hybrid Electric Vehicle (HEV)
10.4.3. Plug-In Hybrid Electric Vehicle (PHEV)
10.4.4. Fuel Cell Electric Vehicle (FCEV)
10.5. Europe Electric Heavy Vehicle Market Value Share Analysis, by Vehicles
10.6. Europe Electric Heavy Vehicle Market Forecast, by Vehicles
10.6.1. Bus
10.6.2. Truck
10.6.3. Pick-Up Truck
10.6.4. Van
10.7. Europe Electric Heavy Vehicle Market Value Share Analysis, by Country
10.8. Europe Electric Heavy Vehicle Market Forecast, by Country
10.8.1.1. Germany
10.8.1.2. U.K.
10.8.1.3. France
10.8.1.4. Italy
10.8.1.5. Spain
10.8.1.6. Rest of Europe
10.9. Europe Electric Heavy Vehicle Market Analysis, by Country/ Sub-region
10.10. Germany Electric Heavy Vehicle Market Forecast, by Propulsion
10.10.1. Battery Electric Vehicle (BEV)
10.10.2. Hybrid Electric Vehicle (HEV)
10.10.3. Plug-In Hybrid Electric Vehicle (PHEV)
10.10.4. Fuel Cell Electric Vehicle (FCEV)
10.11. Germany Electric Heavy Vehicle Market Forecast, by Vehicles
10.11.1. Bus
10.11.2. Truck
10.11.3. Pick-Up Truck
10.11.4. Van
10.12. U.K. Electric Heavy Vehicle Market Forecast, by Propulsion
10.12.1. Battery Electric Vehicle (BEV)
10.12.2. Hybrid Electric Vehicle (HEV)
10.12.3. Plug-In Hybrid Electric Vehicle (PHEV)
10.12.4. Fuel Cell Electric Vehicle (FCEV)
10.13. U.K. Electric Heavy Vehicle Market Forecast, by Vehicles
10.13.1. Bus
10.13.2. Truck
10.13.3. Pick-Up Truck
10.13.4. Van
10.14. France Electric Heavy Vehicle Market Forecast, by Propulsion
10.14.1. Battery Electric Vehicle (BEV)
10.14.2. Hybrid Electric Vehicle (HEV)
10.14.3. Plug-In Hybrid Electric Vehicle (PHEV)
10.14.4. Fuel Cell Electric Vehicle (FCEV)
10.15. France Electric Heavy Vehicle Market Forecast, by Vehicles
10.15.1. Bus
10.15.2. Truck
10.15.3. Pick-Up Truck
10.15.4. Van
10.16. Italy Electric Heavy Vehicle Market Forecast, by Propulsion
10.16.1. Battery Electric Vehicle (BEV)
10.16.2. Hybrid Electric Vehicle (HEV)
10.16.3. Plug-In Hybrid Electric Vehicle (PHEV)
10.16.4. Fuel Cell Electric Vehicle (FCEV)
10.17. Italy Electric Heavy Vehicle Market Forecast, by Vehicles
10.17.1. Bus
10.17.2. Truck
10.17.3. Pick-Up Truck
10.17.4. Van
10.18. Spain Electric Heavy Vehicle Market Forecast, by Propulsion
10.18.1. Battery Electric Vehicle (BEV)
10.18.2. Hybrid Electric Vehicle (HEV)
10.18.3. Plug-In Hybrid Electric Vehicle (PHEV)
10.18.4. Fuel Cell Electric Vehicle (FCEV)
10.19. Spain Electric Heavy Vehicle Market Forecast, by Vehicles
10.19.1. Bus
10.19.2. Truck
10.19.3. Pick-Up Truck
10.19.4. Van
10.20. Rest of Europe Electric Heavy Vehicle Market Forecast, by Propulsion
10.20.1. Battery Electric Vehicle (BEV)
10.20.2. Hybrid Electric Vehicle (HEV)
10.20.3. Plug-In Hybrid Electric Vehicle (PHEV)
10.20.4. Fuel Cell Electric Vehicle (FCEV)
10.21. Rest of Europe Electric Heavy Vehicle Market Forecast, by Vehicles
10.21.1. Bus
10.21.2. Truck
10.21.3. Pick-Up Truck
10.21.4. Van
10.22. Europe Electric Heavy Vehicle Market Attractiveness Analysis
10.22.1. By Propulsion
10.22.2. By Vehicles
10.23. PEST Analysis
11. Asia Pacific Electric Heavy Vehicle Market Analysis
11.1. Key Findings
11.2. Asia Pacific Electric Heavy Vehicle Market Overview
11.3. Asia Pacific Electric Heavy Vehicle Market Value Share Analysis, by Propulsion
11.4. Asia Pacific Electric Heavy Vehicle Market Forecast, by Propulsion
11.4.1. Battery Electric Vehicle (BEV)
11.4.2. Hybrid Electric Vehicle (HEV)
11.4.3. Plug-In Hybrid Electric Vehicle (PHEV)
11.4.4. Fuel Cell Electric Vehicle (FCEV)
11.5. Asia Pacific Electric Heavy Vehicle Market Value Share Analysis, by Vehicles
11.6. Asia Pacific Electric Heavy Vehicle Market Forecast, by Vehicles
11.6.1. Bus
11.6.2. Truck
11.6.3. Pick-Up Truck
11.6.4. Van
11.7. Asia Pacific Electric Heavy Vehicle Market Value Share Analysis, by Country
11.8. Asia Pacific Electric Heavy Vehicle Market Forecast, by Country
11.8.1. China
11.8.2. India
11.8.3. Japan
11.8.4. ASEAN
11.8.5. Rest of Asia Pacific
11.9. Asia Pacific Electric Heavy Vehicle Market Analysis, by Country/ Sub-region
11.10. China Electric Heavy Vehicle Market Forecast, by Propulsion
11.10.1. Battery Electric Vehicle (BEV)
11.10.2. Hybrid Electric Vehicle (HEV)
11.10.3. Plug-In Hybrid Electric Vehicle (PHEV)
11.10.4. Fuel Cell Electric Vehicle (FCEV)
11.11. China Electric Heavy Vehicle Market Forecast, by Vehicles
11.11.1. Bus
11.11.2. Truck
11.11.3. Pick-Up Truck
11.11.4. Van
11.12. India Electric Heavy Vehicle Market Forecast, by Propulsion
11.12.1. Battery Electric Vehicle (BEV)
11.12.2. Hybrid Electric Vehicle (HEV)
11.12.3. Plug-In Hybrid Electric Vehicle (PHEV)
11.12.4. Fuel Cell Electric Vehicle (FCEV)
11.13. India Electric Heavy Vehicle Market Forecast, by Vehicles
11.13.1. Bus
11.13.2. Truck
11.13.3. Pick-Up Truck
11.13.4. Van
11.14. Japan Electric Heavy Vehicle Market Forecast, by Propulsion
11.14.1. Battery Electric Vehicle (BEV)
11.14.2. Hybrid Electric Vehicle (HEV)
11.14.3. Plug-In Hybrid Electric Vehicle (PHEV)
11.14.4. Fuel Cell Electric Vehicle (FCEV)
11.15. Japan Electric Heavy Vehicle Market Forecast, by Vehicles
11.15.1. Bus
11.15.2. Truck
11.15.3. Pick-Up Truck
11.15.4. Van
11.16. ASEAN Electric Heavy Vehicle Market Forecast, by Propulsion
11.16.1. Battery Electric Vehicle (BEV)
11.16.2. Hybrid Electric Vehicle (HEV)
11.16.3. Plug-In Hybrid Electric Vehicle (PHEV)
11.16.4. Fuel Cell Electric Vehicle (FCEV)
11.17. ASEAN Electric Heavy Vehicle Market Forecast, by Vehicles
11.17.1. Bus
11.17.2. Truck
11.17.3. Pick-Up Truck
11.17.4. Van
11.18. Rest of Asia Pacific Electric Heavy Vehicle Market Forecast, by Propulsion
11.18.1. Battery Electric Vehicle (BEV)
11.18.2. Hybrid Electric Vehicle (HEV)
11.18.3. Plug-In Hybrid Electric Vehicle (PHEV)
11.18.4. Fuel Cell Electric Vehicle (FCEV)
11.19. Rest of Asia Pacific Electric Heavy Vehicle Market Forecast, by Vehicles
11.19.1. Bus
11.19.2. Truck
11.19.3. Pick-Up Truck
11.19.4. Van
11.20. Asia Pacific Electric Heavy Vehicle Market Attractiveness Analysis
11.20.1. By Propulsion
11.20.2. By Vehicles
11.21. PEST Analysis
12. Middle East & Africa Electric Heavy Vehicle Market Analysis
12.1. Key Findings
12.2. Middle East & Africa Electric Heavy Vehicle Market Overview
12.3. Middle East & Africa Electric Heavy Vehicle Market Value Share Analysis, by Propulsion
12.4. Middle East & Africa Electric Heavy Vehicle Market Forecast, by Propulsion
12.4.1. Battery Electric Vehicle (BEV)
12.4.2. Hybrid Electric Vehicle (HEV)
12.4.3. Plug-In Hybrid Electric Vehicle (PHEV)
12.4.4. Fuel Cell Electric Vehicle (FCEV)
12.5. Middle East & Africa Electric Heavy Vehicle Market Value Share Analysis, by Vehicles
12.6. Middle East & Africa Electric Heavy Vehicle Market Forecast, by Vehicles
12.6.1. Bus
12.6.2. Truck
12.6.3. Pick-Up Truck
12.6.4. Van
12.7. Middle East & Africa Electric Heavy Vehicle Market Value Share Analysis, by Country
12.8. Middle East & Africa Electric Heavy Vehicle Market Forecast, by Country
12.8.1. GCC
12.8.2. South Africa
12.8.3. Rest of Middle East & Africa
12.9. Middle East & Africa Electric Heavy Vehicle Market Analysis, by Country/ Sub-region
12.10. GCC Electric Heavy Vehicle Market Forecast, by Propulsion
12.10.1. Battery Electric Vehicle (BEV)
12.10.2. Hybrid Electric Vehicle (HEV)
12.10.3. Plug-In Hybrid Electric Vehicle (PHEV)
12.10.4. Fuel Cell Electric Vehicle (FCEV)
12.11. GCC Electric Heavy Vehicle Market Forecast, by Vehicles
12.11.1. Bus
12.11.2. Truck
12.11.3. Pick-Up Truck
12.11.4. Van
12.12. South Africa Electric Heavy Vehicle Market Forecast, by Propulsion
12.12.1. Battery Electric Vehicle (BEV)
12.12.2. Hybrid Electric Vehicle (HEV)
12.12.3. Plug-In Hybrid Electric Vehicle (PHEV)
12.12.4. Fuel Cell Electric Vehicle (FCEV)
12.13. South Africa Electric Heavy Vehicle Market Forecast, by Vehicles
12.13.1. Bus
12.13.2. Truck
12.13.3. Pick-Up Truck
12.13.4. Van
12.14. Rest of Middle East & Africa Electric Heavy Vehicle Market Forecast, by Propulsion
12.14.1. Battery Electric Vehicle (BEV)
12.14.2. Hybrid Electric Vehicle (HEV)
12.14.3. Plug-In Hybrid Electric Vehicle (PHEV)
12.14.4. Fuel Cell Electric Vehicle (FCEV)
12.15. Rest of Middle East & Africa Electric Heavy Vehicle Market Forecast, by Vehicles
12.15.1. Bus
12.15.2. Truck
12.15.3. Pick-Up Truck
12.15.4. Van
12.16. Middle East & Africa Electric Heavy Vehicle Market Attractiveness Analysis
12.16.1. By Propulsion
12.16.2. By Vehicles
12.17. PEST Analysis
13. Latin America Electric Heavy Vehicle Market Analysis
13.1. Key Findings
13.2. Latin America Electric Heavy Vehicle Market Overview
13.3. Latin America Electric Heavy Vehicle Market Value Share Analysis, by Propulsion
13.4. Latin America Electric Heavy Vehicle Market Forecast, by Propulsion
13.4.1. Battery Electric Vehicle (BEV)
13.4.2. Hybrid Electric Vehicle (HEV)
13.4.3. Plug-In Hybrid Electric Vehicle (PHEV)
13.4.4. Fuel Cell Electric Vehicle (FCEV)
13.5. Latin America Electric Heavy Vehicle Market Value Share Analysis, by Vehicles
13.6. Latin America Electric Heavy Vehicle Market Forecast, by Vehicles
13.6.1. Bus
13.6.2. Truck
13.6.3. Pick-Up Truck
13.6.4. Van
13.7. Latin America Electric Heavy Vehicle Market Value Share Analysis, by Country
13.8. Latin America Electric Heavy Vehicle Market Forecast, by Country
13.8.1.1. Brazil
13.8.1.2. Mexico
13.8.1.3. Rest of Latin America
13.9. Latin America Electric Heavy Vehicle Market Analysis, by Country/ Sub-region
13.10. Brazil Electric Heavy Vehicle Market Forecast, by Propulsion
13.10.1. Battery Electric Vehicle (BEV)
13.10.2. Hybrid Electric Vehicle (HEV)
13.10.3. Plug-In Hybrid Electric Vehicle (PHEV)
13.10.4. Fuel Cell Electric Vehicle (FCEV)
13.11. Brazil Electric Heavy Vehicle Market Forecast, by Vehicles
13.11.1. Bus
13.11.2. Truck
13.11.3. Pick-Up Truck
13.11.4. Van
13.12. Mexico Electric Heavy Vehicle Market Forecast, by Propulsion
13.12.1. Battery Electric Vehicle (BEV)
13.12.2. Hybrid Electric Vehicle (HEV)
13.12.3. Plug-In Hybrid Electric Vehicle (PHEV)
13.12.4. Fuel Cell Electric Vehicle (FCEV)
13.13. Mexico Electric Heavy Vehicle Market Forecast, by Vehicles
13.13.1. Bus
13.13.2. Truck
13.13.3. Pick-Up Truck
13.13.4. Van
13.14. Rest of Latin America Electric Heavy Vehicle Market Forecast, by Propulsion
13.14.1. Battery Electric Vehicle (BEV)
13.14.2. Hybrid Electric Vehicle (HEV)
13.14.3. Plug-In Hybrid Electric Vehicle (PHEV)
13.14.4. Fuel Cell Electric Vehicle (FCEV)
13.15. Rest of Latin America Electric Heavy Vehicle Market Forecast, by Vehicles
13.15.1. Bus
13.15.2. Truck
13.15.3. Pick-Up Truck
13.15.4. Van
13.16. Latin America Electric Heavy Vehicle Market Attractiveness Analysis
13.16.1. By Propulsion
13.16.2. By Vehicles
13.17. PEST Analysis
14. Company Profiles
14.1. Market Share Analysis, by Company
14.2. Competition Matrix
14.3. Company Profiles: Key Players
14.3.1. Orange EV
14.3.1.1. Company Overview
14.3.1.2. Financial Overview
14.3.1.3. Business Strategy
14.3.1.4. Recent Developments
14.3.1.5. Manufacturing Footprint
14.3.2. Tesla
14.3.3. Hino Heavy Vehicles
14.3.4. Isuzu Motors Limited
14.3.5. Nissan
14.3.6. Goupil Industries
14.3.7. Dong Feng Motors
14.3.8. Iveco
14.3.9. Efficient Drivetrains Inc (EDI)
14.3.10. BYD
14.3.11. Wrightspeed
14.3.12. Renault & Groupe Delanchy
14.3.13. Cummins Inc.
14.3.14. Daimler AG
14.3.15. Nikola Motor Company
14.3.16. Proterra
14.3.17. LG Chem
14.3.18. Samsung SDI
14.3.19. Panasonic
14.3.20. Delphi
14.3.21. ABB
14.3.22. Siemens
15. Primary Key Insights
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