Electric Utility Vehicle Market Revenue, Industry Statistics, Regional Economy, Development and Forecast till 2027



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Commercial vehicle market size – USD 31.05 billion in 2019, Market growth – CAGR 34.8%, Market trends – Strong demand from China.

VANCOUVER, BC, CANADA, September 19, 2021 /EINPresswire.com/ – The global electric utility vehicle market is expected to reach $ 339.78 billion by 2027, according to a current analysis by Emergen Research. Current developments in electric vehicle technology have allowed its growth to revolutionize the commercial transportation industry. Electric utility vehicles are expected to move closer to cost competitiveness over conventional vehicles, due to lower battery costs and increased production volumes over the forecast years.

Electric utility vehicles can be beneficial in reducing the carbon footprint on the environment, as they produce fewer emissions responsible for climate change and smog compared to conventional vehicles. Currently, based on the global average carbon intensity of power generation, the wheel-to-wheel emissions of an average electric utility vehicle are lower than that of an average ICE vehicle running on blends. liquid / gaseous fuel.

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Highlights of the report

There is a growing demand for electric vehicle battery systems and emission control systems due to growing concerns about increasing pollution levels and the adverse effects of climate change. Hybrid systems of standard motors and electric vehicle batteries are used by most hybrid vehicles.

Battery electric vehicles (BEVs) store electricity on board with high capacity battery packs. BEVs do not release any harmful emissions caused by traditional gasoline vehicles. Battery electric vehicles are charged by electricity from an external source.

The government is focusing on the introduction of an electric vehicle for public transport. Several cities operate a fleet of electric buses to reduce the level of pollution, and these vehicles also offer shake-free transportation, which improves customer satisfaction.

Revenue and Cost & Profit Analysis of Major Player Dominating Electric Utility Vehicle Market:

With a primary focus on the growth trajectories of each segment of the Electric Commercial Vehicle merchandise, the report extensively inspects the operating models of each market competitor, for example, partnerships and collaborations, mergers and acquisitions, and new product launches. In addition to describing the broad competitive landscape of the Electric Utility Vehicle merchandise, the report estimates the CAGR of the merchandise over the forecast period.

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This particular section of the report covers all the necessary details of renowned Electric Utility Vehicle Market players operating in the global Electric Utility Vehicle Market. The report then explains various marketing strategies used by companies in this industry. Information on the holdings of these players in the global market has also been included in this report.

Cue Merchandise Contender includes:

Pitch participants include Yutong, BYD, VDL Groep, Proterra, AB Volvo, NFI Group, Daimler AG, King Long, Ebusco BV and Ankai, among others.

Electric Utility Vehicle Market Range and Pass Size:

The global electric utility vehicle market is broadly segmented on the basis of product type and application. The segmental growth helps the reader to get a clear idea of ​​the pockets of niche growth, as well as the strategies deployed by the players in the electric utility vehicle market to drive the growth of these segments. This section of the report helps them understand and determine the main areas of application and the differences between target markets. The report examines the global electric utility vehicle market in terms of market size and volume and important information related to product bifurcation and application overview.

Territorial analysis by electric utility vehicle market:

The Electric Utility Vehicles report offers significant data regarding the company profiles, product types and application outlook of these competitors in the market. The Electric Commercial Vehicles market size estimation and forecast detailed in this report are based on a thorough research methodology and are tailored based on the different conditions that create the demand for the global market.

Electric utility vehicle market to divide the market into parts by region is North America, South America, Europe, Asia-Pacific, Middle East and Africa

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Separation of Global Electric Commercial Vehicles Market Report:

The study of the historical background of the demand of the global Electric Commercial Vehicles market has been conducted keeping in mind all organic and inorganic innovations introduced in the market. Hence, the latest report offers accurate estimates of the global market size over the projected period and further includes the major factors influencing the demand growth of the global market.

For the purpose of this report, Emergen Research has segmented the global electric utility vehicle market on the basis of component, propulsion type, vehicle type, battery type, range, end-user, and region :

Components Outlook (Revenue, USD Billion; 2017-2027)
Electric motor
Electric vehicle battery
Hydrogen fuel cell

Propulsion Type Outlook (Revenue, USD Billion; 2017-2027)

Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)
Electric bus
Electric truck (medium and heavy trucks)
Electric pickup truck
Electric van

Outlook Battery Type (Revenue, USD Billion; 2017-2027)
Lithium-iron-phosphate (LFP)
Lithium-nickel-manganese-cobalt oxide (NMC)

Range Outlook (Revenue, USD Billion; 2017-2027)
less than 150 miles
150-300 miles
Above 300 miles

End User Outlook (Revenue, USD Billion; 2017-2027)
Last mile delivery
Distribution service
Field service
Decline the service
Long distance transport

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