U.S. Electric Commercial Vehicles Market: Overview
U.S. Electric Commercial Vehicles market report provides analysis for the period 2014 – 2024, wherein the period from 2018 to 2024 is the forecast period and 2017 as base year. The report covers all the major trends and technologies playing an influential role in the market’s growth over the estimated period. It also highlights the drivers, restraints, and opportunities for the analysis of market growth during the period. The market study reveals that the U.S. Electric Commercial Vehicles market is expected to grow at a CAGR over 11% during the forecast period in terms of value.
The market overview section of the report demonstrates market dynamics such as trends, drivers, restraints, and opportunities that talks about the current nature and future scenario of the U.S. Electric Commercial Vehicles market, key market indicators, end-user adoption analysis. Further, key market indicators included in the report provide the significant factors which are capable to define the market position of U.S. electric commercial product.
U.S. Electric Commercial Vehicles Market: Scope Of The Report
The electric commercial vehicle market can be segmented on the basis of propulsion type, vehicle type, component, and region. Based on propulsion type, the U.S. electric commercial vehicle market is further classified into battery electric vehicle (BEV), hybrid electric vehicle (HEV), Plug-in hybrid electric vehicles (PHEV) and fuel cell electric vehicle (FCEV). The battery electric vehicle segment dominates the market due to government initiatives to promote green transportation across the globe. Based on electric vehicle type, the U.S. electric commercial vehicle market can be fragmented into bus, truck, vans and others. Based on components, the electric commercial vehicle market can be segmented into motors, electric batteries, and others.
The report also highlights the competitive landscape of the U.S. electric commercial vehicles market, positioning all the major players according to their presence in different regions and recent key developments initiated by them in the industry.
This report provides all the essential information required to understand the key developments in the electric commercial vehicles market, growth trends of each segment and region. It also includes strategies of companies, financial information, SWOT analysis, and developments under the company profile section. Also, the report provides insights related to trends and their impact on the market.
U.S. Electric Commercial Vehicles Market: Key Findings Of The Report
According to BlueWeave Consulting, the key findings of the report “U.S. Electric Commercial Vehicles Market Size, Share, Development, Growth and Demand Forecast to 2024” are:
U.S. electrical commercial vehicle market is expected to witness owing to the factor that the government has enforced stringent rules and regulations for vehicular emission control. Rising transportation infrastructural spending owing to strong economic growth is anticipated to remain a key driving factor for industry growth over the forecast period
The electric vehicles are becoming increasingly cheaper in U.S. which is anticipated to boost market growth. The change of lifestyle in U.S. which is increasingly shifting towards eco-friendly environment is another key factor driving industry growth over forthcoming years.
U.S. Electric Commercial Vehicle Market, Revenue Forecast, USD (Million), 2014-2024
U.S. Electric Commercial Vehicles Market: Market Dynamics
The demand for the commercial electric vehicles is governed by increase in demand for fuel-efficient, high-performance and low-emission vehicles. Moreover, it is also been influenced by the trend of reduction in vehicular emission due to stringent rules & regulations by the U.S. government and growth of public charging infrastructure. However, technological advancements in electric vehicles and proactive government initiatives are expected to unfold various opportunities for the growth of the stakeholders of the U.S. Electric Vehicles market, such as system integrators, vehicle manufacturers, engine manufactures, and component providers. Though electric vehicles have proven to be advantageous over conventional vehicles, the market is not without restraints hindering the growth of the market over the forecast period. Electric vehicles come along with a high price tag which might evoke customer apathy towards this market. Scarcity of charging points within major cities is a massive hurdle in the growth of the U.S. Electric Vehicles market.
U.S. Electric Commercial Vehicles Market: Research Methodology
Extensive secondary research was conducted using paid data sources including Bloomberg, Factiva, Capital IQ, OneSource, and Hoovers. Additionally, several publicly-available data sources were used including journals, statistics articles, and industry associations. These data sources were used to gather relevant information to develop an understanding on the U.S. Electric Vehicles market. The research was conducted covering the desk research and primary research. Data sources used for primary research included online forums and blogs, CATI/CAWI, CAPI interviews, and video conferences. Additionally, interviews were conducted through connecting with various industry respondents including C-level executives, directors, divisional heads, regional heads, expert consultants, and independent consultants. The primary research was conducted to gain market insights from industry respondents and validate the gathered information through desk research.
U.S. Electric Commercial Vehicles Market: Competitive Dynamics
The research study includes profiles of leading companies operating in the U.S. electric commercial vehicles market. Some of the key players profiled in the report include Tesla, Fisker Automotive Inc., American Honda Motor Co., Myers Motors LLC, Aptera, etc.