May 27, 2022 – The global electric commercial vehicle market size is projected to grow from 353 thousand units in 2022 to 3,144 thousand units by 2030, at a compound annual growth rate (CAGR) of 31.4%.
With companies and governments across the globe encouraging the use of electric vehicles, the electric commercial vehicle industry is expected to grow exponentially in the next decade. Electric commercial vehicles have a major role in last-mile delivery with lower emissions, cheaper running costs, and less ongoing maintenance.
The less than 150 miles segment is expected to be the largest market in the forecast period. Low performance and affordable electric commercial vehicles usually have a range of fewer than 150 miles. Several OEMs offer electric buses and vans with low-cost batteries with a restricted range of 100-150 miles.