Global Commercial Electric Vehicles Market To Have Growth Rate Of Almost 40% Through 2022!

The global commercial electric vehicles market was valued at about $34.7 billion in 2018 and is expected to grow to $132.73 billion at a CAGR of 39.9% through 2022. Government subsidies to consumers and manufacturers help in the adoption of electric vehicles. However, the difference in vehicle performance acts as a restraint to the growth of the commercial electric vehicle market.

The commercial electric vehicles manufactured includes Battery Electric Vehicles (BEV), Hybrid Electric Vehicles, and Plug-in Hybrid Electric Vehicles (PHEV).

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The global commercial electric vehicles market is further segmented based on type and geography.
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 electric vehicles market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific commercial electric vehicles market accounts for the largest share in the global commercial electric vehicles market.

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Trends In The Commercial Electric Vehicles Market
Technological advances to improve charging speed and enhance battery design makes the latest trend in the commercial electric vehicles market. Manufacturers are looking at solid-state batteries which use graphene as the potential solution and are expected to increase both range and the charging speed of the electric vehicles’ batteries. 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 charges, most of the modern electric vehicle can charge up to 80% in just 30 minutes.
Commercial Electric Vehicles Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides commercial electric vehicles market overviews, analyzes and forecasts commercial electric vehicles market size and growth for the global commercial electric vehicles market, commercial electric vehicles market share, commercial electric vehicles market players, commercial electric vehicles market size, commercial electric vehicles market segments and geographies, commercial electric vehicles market trends, commercial electric vehicles market drivers and commercial electric vehicles market restraints, commercial electric vehicles market’s leading competitors’ revenues, profiles and market shares. The commercial electric vehicles market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.