Electric Medium And Heavy Commercial Vehicles (Emhcv) Market Forecast 2025-2034: Market Size, Growth Factors, Trends

The Business Research Company’s Commercial Vehicles (Emhcv) Global Market Report 2025 – Market Size, Trends, And Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, February 24, 2025 /EINPresswire.com/ -- Is the Electric Medium And Heavy Commercial Vehicles Market Set to Witness Substantial Growth?
Over the years, the electric medium and heavy commercial vehicles eMHCV market size has grown significantly. The market value, which was at $10.41 billion in 2024, is expected to surge to $11.61 billion in 2025, registering a compound annual growth rate CAGR of 11.5%. This growth in the medium and heavy-duty e-vehicle market has been driven by the freight, logistics, construction, and transport sectors. Increased investment in charging infrastructure, the demand for sustainable transportation solutions, along with growing public awareness of air pollution and climate change, have all contributed to this growth.

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This trend is expected to continue in the following years, with the eMHCV market predicted to reach $17.85 billion in 2029 at a CAGR of 11.4%. This future market growth can be credited to factors such as the increasing adoption of zero-emission heavy-duty vehicles, growing demand for electric scooters and motorcycles, enhancements in electric vehicle EV technology, and government initiatives promoting e-mobility. Advancements in heavy-duty electric truck technology and battery technology, innovative product development, and the integration of artificial intelligence AI in vehicles are among the anticipated trends during this forecast period.

What Drives The Electric Medium And Heavy Commercial Vehicles Market Growth?
One key driver propelling the growth of the eMHCV market is the booming e-commerce industry. As internet penetration increases, so does online shopping and the use of mobile devices for purchases. This has led to eMHCVs being utilized in e-commerce to provide sustainable, efficient, and zero-emission transportation for goods delivery and logistics operations. For instance, data from the U.S. Census Bureau revealed that retail e-commerce sales for the second quarter of 2024 totaled $282.3 billion, signifying a 5.3% increase from the first quarter of 2023 and a 6.6% rise compared to the second quarter of 2023. The rise of e-commerce is thus seen as a positive factor driving the eMHCV market.

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Who Are The Key Players In The Electric Medium And Heavy Commercial Vehicles Market?
Major industry players in the eMHCV market include SAIC 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., and others. Companies are focusing on battery-electric truck ecanters for sustainable and emission-free transportation solutions in regional logistics. For instance, Daimler India Commercial Vehicles launched the all-electric light-duty truck Next Generation eCanter in India in 2024, featuring an innovative eAxle that enhances vehicle efficiency.

How Is The Electric Medium And Heavy Commercial Vehicles Market Segmented?
The eMHCVs' market segmentation in this report is based on vehicle type, battery type, and application. The subsegments are categorized as follows:
Vehicle Type: Pickup Trucks; Trucks; Vans; Buses And Coaches
Battery Type: Nickel Manganese Cobalt NMC Batteries; Lithium Iron Phosphate LIP Batteries; Solid-State Batteries; Other Battery Types
Applications: Logistics And Delivery; Construction; Waste Management; Other Applications

What is the Regional Analysis Of Electric Medium And Heavy Commercial Vehicles Market?
Asia-Pacific was the largest region in the eMHCV market in 2024, and the report covers other geographical locations including Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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