Global Electric Vehicle Market
DUBLIN, Nov. 08, 2022 (GLOBE NEWSWIRE) — Added the Commercial Electric Vehicles Global Market Report 2022 ResearchAndMarkets.com Offer.
The global commercial electric vehicle market is expected to grow from US$68.43 billion in 2021 to US$101.44 billion in 2022 at a compound annual growth rate (CAGR) of 48.2%. The market is expected to grow to $303.15 billion by 2026 at a compound annual growth rate (CAGR) of 31.5%.
The main technologies in commercial electric vehicles are battery electric vehicles, hybrid electric vehicles and plug-in hybrid electric vehicles. Battery electric vehicles run on stored electricity only and their main components consist of a high voltage battery, one or more electric motors (either AC [AC] or direct current [DC]) and a controller for managing the power electronics. The vehicle types involved are bus, truck, pick-up truck, van. The charging infrastructure involved is pantograph, plug-in, inductive.
Government subsidies for consumers and manufacturers are helping EV adoption. The introduction of electric vehicles has been identified as an effective way to reduce carbon emissions and dependence on fossil fuels. Therefore, the governments of many countries provide direct subsidies to both buyers and manufacturers to increase the adoption rate of electric vehicles.
In March 2019, the Government of India announced spending of US$1434.45 million (10,000 crores) under the Faster Adoption and Manufacturing of Electric Vehicles (FAME-II) program to encourage the use of electric and hybrid vehicles. The program spent $213.6 million (1,500 crores) in 2019-20; $716.7 million (5,000 crores) in 2020-21 and $501.69 (3,500 crores) in 2021-22 and will cover electric vehicle (EV) technology buses; Electric, plug-in hybrid and powerful hybrid four-wheelers; electric tricycles including e-rickshaws and electric two-wheelers.
The difference in vehicle performance acts as a constraint on the growth of the commercial electric vehicle market. EVs offer excellent low-speed torque, but performance drops at higher speeds. The range of current battery electric vehicles (BEVs) is typically between 50 and 100 miles. For example, the Nissan LEAF electric vehicle has a high torque of 236 lb-ft but a relatively low power output of 147 hp. On the other hand, the Honda S2000 conventional fuel car has a decent power output of 256 Wr.
Technological advances to improve charging speed and battery design are the latest trend in the commercial electric vehicle market. Manufacturers are looking at solid-state batteries using graphene as a possible solution, aiming to increase both the range and charging speed of EV batteries.
Aside from improvements in battery design and charging speed, there will be a significant shift toward diversification of EV power sources. Solar panels have already become much more efficient at capturing the sun’s energy. With the recent development of three-phase charging, the most modern electric vehicle can be charged up to 80% in just 30 minutes.
For example, Earthday, a Catalan startup, has introduced fast-charging graphene-based batteries that weigh just 55kg and use a paste-like graphene-based electrolyte. Earthday claims that the graphene-based battery charges up to 1350 times faster than regular batteries based on lithium technologies.
1) By technology: battery electric vehicles; hybrid electric vehicles; Plug-in Hybrid Electric Vehicles
2) By vehicle: bus; TRUCK; Pick up; delivery trucks
3) By charging infrastructure: pantograph; plugin; Inductive
Main topics covered:
2. Characteristics of Electric Commercial Vehicles Market
3. Electric Commercial Vehicles Market Size and Growth
4. Commercial Electric Vehicle Market Segmentation
5. Regional and country analysis of the electric utility vehicle market
6. Asia Pacific Electric Commercial Vehicles Market
7. Electric commercial vehicle market in China
8. Indian commercial electric vehicle market
9. Japan commercial electric vehicle market
10. Australian commercial electric vehicle market
11. Indonesian Commercial Electric Vehicle Market
12. South Korea’s commercial electric vehicle market
13. Western Europe commercial electric vehicle market
14. UK commercial electric vehicle market
15. Germany market for commercial electric vehicles
16. Electric commercial vehicle market in France
17. Commercial electric vehicle market in Eastern Europe
18. Russian commercial electric vehicle market
19. Electric Commercial Vehicles Market in North America
20. US commercial electric vehicle market
21. Commercial Electric Vehicle Market in South America
22. Brazilian commercial electric vehicle market
23. Middle East Commercial Electric Vehicle Market
24. Electric commercial vehicle market in Africa
25. Competitive Landscape and Company Profiles in the Commercial Electric Vehicles Market
26. Major mergers and acquisitions in the commercial electric vehicle market
27. Commercial Electric Vehicle Market Trends and Strategies
28. Future outlook and potential analysis for commercial electric vehicle market
YO Bykes Electric
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