What are the latest figures on the electric medium and heavy commercial vehicles (emhcv) market’s size and projected CAGR?
The electric medium and heavy commercial vehicles (eMHCV) market size has grown rapidly in recent years. It will grow from $10.41 billion in 2024 to $11.61 billion in 2025 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to increasingly prevalent in the freight, logistics, construction, and transport industries, shift towards sustainable transportation solutions, expansion of charging infrastructure, rise in demand for electric trucks from the logistics sector, and growing public consciousness of air pollution and climate change.
The electric medium and heavy commercial vehicles (eMHCV) market size is expected to see rapid growth in the next few years. It will grow to $17.85 billion in 2029 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to the increasing adoption of zero-emission heavy-duty vehicles, growing demand for electric scooters and motorcycles, increase in demand for fuel-efficient, high-performance, and low-emission buses, increase in government initiatives for the promotion of e-mobility, and growing demand for fleet electrification. Major trends in the forecast period include advancements in heavy-duty electric truck technology, advancements in battery technology, developments in electric vehicle (EV) technology, product innovations, and integration of artificial intelligence (AI).
Get Your Free Sample of The Global Electric Medium And Heavy Commercial Vehicles (eMHCV) Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=20761&type=smp
Which Market drivers have played a significant role in driving the electric medium and heavy commercial vehicles (emhcv) market?
The increasing demand for the e-commerce industry is expected to propel the growth of the electric medium and heavy commercial vehicles (eMHCV) market going forward. The e-commerce industry is expanding due to increasing internet penetration, the convenience of online shopping, and the growing use of mobile devices for purchases. Commercial vehicles (eMHCVs) are increasingly utilized in e-commerce to support sustainable, efficient, and zero-emission transportation for goods delivery and logistics operations. For instance, in August 2024, according to the U.S. Census Bureau, a US-based government agency, retail e-commerce sales for the second quarter of 2024 totaled $282.3 billion, marking a 5.3% increase from the first quarter of 2023 and a 6.6% rise compared to the second quarter of 2023. Therefore, the increasing demand for the e-commerce industry drives the electric medium and heavy commercial vehicles (eMHCV) market.
What are the key segments within the electric medium and heavy commercial vehicles (emhcv) market?
The electric medium and heavy commercial vehicles (eMHCV) market covered in this report is segmented –
1) By Vehicle Type: Pickup Trucks; Trucks; Vans; Buses And Coaches
2) By Battery Type: Nickel Manganese Cobalt (NMC) Batteries; Lithium Iron Phosphate (LIP) Batteries; Solid-State Batteries; Other Battery Types
3) By Application: Logistics And Delivery; Construction; Waste Management; Other Applications
Subsegments:
1) By Pickup Trucks: Light Duty Electric Pickup Trucks; Heavy Duty Electric Pickup Trucks; Electric Pickup Trucks for Urban Logistics; Electric Pickup Trucks for Agricultural Use
2) By Trucks: Electric Heavy Duty Trucks (Class 8); Electric Medium Duty Trucks (Class 5-7); Electric Refrigerated Trucks; Electric Flatbed Trucks; Electric Delivery Trucks
3) By Vans: Electric Cargo Vans; Electric Passenger Vans; Electric Delivery Vans; Electric Utility Vans
4) By Buses and Coaches: Electric City Buses; Electric Intercity Coaches; Electric School Buses; Electric Coach Buses; Autonomous Electric Buses
Order your report now for swift delivery
Which key players are shaping the electric medium and heavy commercial vehicles (emhcv) market?
Major companies operating in the electric medium and heavy commercial vehicles (eMHCV) market areSAIC Motor Corporation, Hyundai Motor Group, Tesla Inc., BYD Company Ltd., Caterpillar Inc., Daimler AG, Volvo Group, Dongfeng Motor Corporation, MAN Truck & Bus SE, Beiqi Foton Motor Co. Ltd., Renault Trucks International, JBM Auto Limited, Proterra Inc., IVECO Group, Volta Trucks Ltd., Olectra Greentech Ltd., Freightliner Ltd., Alke Srl, KAMAZ Inc., Workhorse Group
Which transformative trends will shape the electric medium and heavy commercial vehicles (emhcv) market landscape?
Major companies operating in the electric medium and heavy commercial vehicles (eMHCV) market are focused on developing battery-electric truck ecanters to enhance sustainability, reduce emissions, and meet the increasing demand for eco-friendly transportation solutions in urban and regional logistics. Battery-electric truck ecanters refer to a line of commercial trucks designed and manufactured with electric propulsion systems, aimed at providing an eco-friendly alternative to traditional diesel-powered trucks. For instance, in April 2024, Daimler India Commercial Vehicles, an India-based commercial vehicle manufacturer, launched the all-electric light-duty truck Next Generation eCanter in India. The vehicle features an innovative eAxle, which integrates the electric motor with the rear axle, resulting in a more compact drivetrain. This design enhances the vehicle’s efficiency and expands the range of available configurations. The new model offers a significantly expanded lineup, with over 100 variants globally, including different weight classes and cab configurations. This allows for greater versatility in meeting diverse operational needs.
How do regional factors impact the electric medium and heavy commercial vehicles (emhcv) market, and which region is the largest contributor?
Asia-Pacific was the largest region in the electric medium and heavy commercial vehicles (eMHCV) market in 2024. The regions covered in the electric medium and heavy commercial vehicles (eMHCV) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Electric Medium And Heavy Commercial Vehicles (eMHCV) Market Report 2025 Offer?
The electric medium and heavy commercial vehicles (emhcv) market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Electric medium and heavy commercial vehicles (eMHCV) are electrically powered vehicles offering the ability to carry goods, transport passengers, or perform specialized tasks. These are used for transporting goods over medium to long distances, especially in urban and suburban settings where zero emissions are prioritized.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=20761
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
