세계의 상용차 전기화 시장 : 차종별, 하이브리드 화별, 지역 범위별, 예측

Commercial Vehicle Electrification Market Size And Forecast

Commercial Vehicle Electrification Market size was valued at USD 84.46 Billion in 2024 and is projected to reach USD 506.7 Billion by 2031, growing at a CAGR of 25.10% from 2024 to 2031.

Commercial vehicle electrification refers to the integration of electric powertrains into commercial vehicles, including trucks, buses, and vans, to replace traditional internal combustion engines. This shift involves utilizing various electric vehicle (EV) technologies such as Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), and Plug-In Hybrid Electric Vehicles (PHEVs) to reduce reliance on fossil fuels and lower greenhouse gas emissions.

The applications of commercial vehicle electrification are diverse and increasingly prevalent. Electric trucks are used for long-haul and regional transportation, offering lower emissions and operating costs compared to diesel counterparts. Electric buses are transforming urban public transport with zero-emission capabilities, enhancing air quality in cities.

The future of commercial vehicle electrification is promising, driven by advancements in battery technology, supportive government policies, and increasing environmental awareness. As battery ranges improve and charging infrastructure expands, electric commercial vehicles are expected to see broader adoption across various sectors.

Global Commercial Vehicle Electrification Market Dynamics

The key market dynamics that are shaping the global commercial vehicle electrification market include:

Key Market Drivers:

Government Regulations and Incentives: Globally, stringent emissions regulations and government incentives are driving the adoption of electric commercial vehicles. According to the U.S. Environmental Protection Agency's (EPA) Clean Trucks Plan aims to reduce nitrogen oxide emissions by 90% by 2031, promoting electrification.

Lower Total Cost of Ownership: Electric commercial vehicles are becoming more cost-effective due to lower fuel and maintenance costs. According to a 2023 report, the total cost of ownership for electric trucks is expected to be 15-20% lower than diesel trucks over a 10-year period.

Advancements in Battery Technology: Improvements in battery technology, including higher energy density and faster charging, are accelerating market growth. The average battery range for electric commercial vehicles increased to 350 kilometers in 2023, a 30% improvement over the previous year.

Rising Demand for Clean Energy Transportation: With increasing global focus on sustainability, there is rising demand for clean energy transportation solutions. By 2024, the number of electric trucks in logistics and delivery fleets globally is expected to grow by 40%, driven by both government mandates and consumer demand for sustainable options.

Key Challenges:

High Initial Costs: One of the major challenges in the global commercial vehicle electrification market is the high upfront cost of electric commercial vehicles (ECVs), including battery costs, which make them more expensive than conventional internal combustion engine vehicles. Although operational savings and government incentives exist, the high initial investment remains a barrier for many fleet operators.

Limited Charging Infrastructure: The lack of widespread charging infrastructure is a significant hurdle for the adoption of electric commercial vehicles, especially for long-haul applications. Many regions still lack adequate fast-charging stations, making it difficult for companies to operate electric trucks or buses over longer distances efficiently.

Range Limitations: Range anxiety continues to be a concern for commercial fleet operators, particularly in heavy-duty segments. Current battery technology limits the driving range of electric commercial vehicles, and for sectors like logistics and transport, the inability to complete long-distance trips without recharging is a major challenge.

Battery Supply Chain and Sustainability: Ensuring a stable and sustainable supply of batteries, especially lithium-ion batteries, is another key challenge. The commercial vehicle industry is highly dependent on raw materials such as lithium, cobalt, and nickel, which are subject to supply chain disruptions and price volatility. Additionally, the environmental impact of battery production and disposal poses sustainability concerns.

Key Trends:

Government Regulations and Emission Standards: Stringent global emissions regulations are driving the shift toward electrification in commercial vehicles. Governments are implementing carbon-reduction policies, such as Europe's target to cut CO2 emissions from commercial vehicles by 90% by 2040, accelerating the adoption of electric trucks and buses.

Advancements in Battery Technology: Improvements in battery efficiency, range, and cost are major drivers of growth in the electric commercial vehicle sector. The development of solid-state batteries and fast-charging technologies is enabling longer driving ranges and reducing downtime, making electric vehicles more competitive with traditional internal combustion engines.

Expansion of Charging Infrastructure: Investment in charging infrastructure, particularly for heavy-duty electric vehicles, is rapidly expanding. Governments and private companies are collaborating to build high-capacity charging networks along major freight corridors, supporting the long-term viability of electric commercial fleets.

Fleet Electrification by Logistics Companies: Logistics and e-commerce companies are increasingly electrifying their fleets to reduce operating costs and meet sustainability targets. Major players are leading this trend by adopting electric delivery vans and trucks, further propelling the demand for electric commercial vehicles.

What's inside a VMR industry report?

Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.

>>>

Global Commercial Vehicle Electrification Market Regional Analysis

Here is a more detailed regional analysis of the global commercial vehicle electrification market:

Asia Pacific:

Asia Pacific is the dominant region in the global commercial vehicle electrification market, particularly China, is the dominant region in the global commercial vehicle electrification market. The Chinese government has been highly supportive of the electrification transition, offering subsidies and incentives for electric commercial vehicle manufacturers. In 2023, China accounted for over 60% of global electric commercial vehicle sales, fueled by stringent emissions regulations and ambitious electrification goals outlined in its 14th Five-Year Plan, which includes achieving 20% new energy vehicle penetration by 2025.

Japan is another key player in the Asia Pacific region, driving commercial vehicle electrification. In 2024, Japan announced an investment of over $1 billion into developing infrastructure for electric commercial vehicles, aiming to reach 100% electrification of new commercial vehicle sales by 2040. Japanese automakers, such as Toyota and Mitsubishi Fuso, have significantly advanced in launching electric trucks and buses, positioning Japan as a leader in the regional electrification push.

Europe:

Europe is the fastest-growing region in the commercial vehicle electrification market, driven by the European Union's Green Deal and its goal of achieving carbon neutrality by 2050. Recent government data reveals that sales of electric commercial vehicles in Europe surged by 40% year-on-year in 2023, supported by stringent emissions regulations and substantial government funding for electric mobility projects. The European Commission also plans to reduce CO2 emissions from commercial vehicles by 90% by 2040, further accelerating the market's growth.

Germany, as a leading automotive hub in Europe, is rapidly expanding its electric commercial vehicle fleet. In 2024, the German government allocated €5 billion towards electric vehicle infrastructure and subsidies for commercial fleet electrification. The country's electric truck sales are expected to grow by 35% annually, reflecting strong demand and government-backed incentives. This rapid expansion positions Germany as a key contributor to Europe's growth in the commercial vehicle electrification market.

Global Commercial Vehicle Electrification Market: Segmentation Analysis

The Global Commercial Vehicle Electrification Market is Segmented Based on Vehicle Type, Hybridization, and Geography

Commercial Vehicle Electrification Market, By Vehicle Type

Light Commercial Vehicle

Heavy-Duty Commercial Vehicle

Based on Vehicle Type, the Global Commercial Vehicle Electrification Market is segmented into Light Commercial Vehicle, Heavy-Duty Commercial Vehicle. the Heavy-Duty Commercial Vehicle (HCV) segment is dominant, driven by the increasing demand for electric trucks and buses, particularly in regions focusing on reducing emissions. The Light Commercial Vehicle (LCV) segment is the fastest-growing, fueled by the rising adoption of electric vans for last-mile delivery and urban transportation, where environmental regulations and cost savings are key factors.

Commercial Vehicle Electrification Market, By Hybridization

Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle

Hybrid Electric Vehicle (HEV)

Plug-In Hybrid Electric Vehicle (PHEV)

Battery Electric Vehicle (BEV)

48 V

Based on Hybridization, the Global Commercial Vehicle Electrification Market is segmented into Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle, Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV), and 48V. Internal Combustion Engine (ICE) & Micro-Hybrid Vehicles is the dominant segment due to their widespread use and established infrastructure. However, the Battery Electric Vehicle (BEV) segment is the fastest-growing, driven by advancements in battery technology, government incentives, and growing demand for zero-emission vehicles, particularly in urban and regulated areas.

Commercial Vehicle Electrification Market, By Geography

North America

Europe

Asia Pacific

Rest of the World

Based on the Geography, the Global Commercial Vehicle Electrification Market are classified into North America, Europe, Asia Pacific, and Rest of World. Asia Pacific is the dominant region, driven by strong government support, significant electric vehicle production, and high demand in countries like China and Japan. Europe is the fastest-growing region, propelled by stringent emissions regulations, ambitious electrification targets, and increasing investments in electric commercial vehicle infrastructure.

Key Players

The "Global Commercial Vehicle Electrification Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are Volvo Trucks, Daimler, Scania, Isuzu, Tata Motors, Robert Bosch GmbH, Denso Corporation, Groupe PSA, Nikola Motor Company, and Mitsubishi.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

TABLE OF CONTENTS

1 INTRODUCTION OF GLOBAL COMMERCIAL VEHICLE ELECTRIFICATION MARKET

• 1.1 Overview of the Market
• 1.2 Scope of Report
• 1.3 Assumptions

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH

• 3.1 Data Mining
• 3.2 Validation
• 3.3 Primary Interviews
• 3.4 List of Data Sources

4 GLOBAL COMMERCIAL VEHICLE ELECTRIFICATION MARKET OUTLOOK

• 4.1 Overview
• 4.2 Market Dynamics
  • 4.2.1 Drivers
  • 4.2.2 Restraints
  • 4.2.3 Opportunities
• 4.3 Porters Five Force Model
• 4.4 Value Chain Analysis

5 GLOBAL COMMERCIAL VEHICLE ELECTRIFICATION MARKET, BY VEHICLE TYPE

• 5.1 Overview
• 5.2 Light Commercial Vehicle
• 5.3 Heavy-duty Commercial Vehicle

6 GLOBAL COMMERCIAL VEHICLE ELECTRIFICATION MARKET, BY HYBRIDIZATION

• 6.1 Overview
• 6.2 Internal Combustion Engine (ICE) & Micro-Hybrid Vehicle
• 6.3 Hybrid Electric Vehicle (HEV)
• 6.4 Plug-In Hybrid Electric Vehicle (PHEV)
• 6.5 Battery Electric Vehicle (BEV)
• 6.6 48 V

7 GLOBAL COMMERCIAL VEHICLE ELECTRIFICATION MARKET, BY GEOGRAPHY

• 7.1 Overview
• 7.2 North America
  • 7.2.1 U.S.
  • 7.2.2 Canada
  • 7.2.3 Mexico
• 7.3 Europe
  • 7.3.1 Germany
  • 7.3.2 U.K.
  • 7.3.3 France
  • 7.3.4 Rest of Europe
• 7.4 Asia Pacific
  • 7.4.1 China
  • 7.4.2 Japan
  • 7.4.3 India
  • 7.4.4 Rest of Asia Pacific
• 7.5 Rest of the World
  • 7.5.1 Middle East and Africa
  • 7.5.2 South America

8 GLOBAL COMMERCIAL VEHICLE ELECTRIFICATION MARKET COMPETITIVE LANDSCAPE

• 8.1 Overview
• 8.2 Company Market ranking
• 8.3 Key Development Strategies

9 COMPANY PROFILES

• 9.1 Volvo Trucks
  • 9.1.1 Overview
  • 9.1.2 Financial Performance
  • 9.1.3 Product Outlook
  • 9.1.4 Key Developments
• 9.2 Daimler
  • 9.2.1 Overview
  • 9.2.2 Financial Performance
  • 9.2.3 Product Outlook
  • 9.2.4 Key Developments
• 9.3 Scania
  • 9.3.1 Overview
  • 9.3.2 Financial Performance
  • 9.3.3 Product Outlook
  • 9.3.4 Key Developments
• 9.4 Isuzu
  • 9.4.1 Overview
  • 9.4.2 Financial Performance
  • 9.4.3 Product Outlook
  • 9.4.4 Key Developments
• 9.5 Tata Motors
  • 9.5.1 Overview
  • 9.5.2 Financial Performance
  • 9.5.3 Product Outlook
  • 9.5.4 Key Developments
• 9.6 Robert Bosch GmbH
  • 9.6.1 Overview
  • 9.6.2 Financial Performance
  • 9.6.3 Product Outlook
  • 9.6.4 Key Developments
• 9.7 Nikola Motor Company
  • 9.7.1 Overview
  • 9.7.2 Financial Performance
  • 9.7.3 Product Outlook
  • 9.7.4 Key Developments
• 9.8 Groupe PSA
  • 9.8.1 Overview
  • 9.8.2 Financial Performance
  • 9.8.3 Product Outlook
  • 9.8.4 Key Developments
• 9.9 Denso Corporation
  • 9.9.1 Overview
  • 9.9.2 Financial Performance
  • 9.9.3 Product Outlook
  • 9.9.4 Key Developments
• 9.10 Mitsubishi
  • 9.10.1 Overview
  • 9.10.2 Financial Performance
  • 9.10.3 Product Outlook
  • 9.10.4 Key Developments

10 APPENDIX

• 10.1 Related Research