By 2025, there are expected to be 1831865 electric commercial vehicles worldwide

According to the latest report from Markets and Markets, global electric commercial vehicles are expected to increase from 125212 in 2017 to 1831865 units in 2025, growing at a CAGR of 39.
85
%.

By 2025, there are expected to be 1831865 electric commercial vehicles worldwide

Increasing awareness of pollution threats, government policies and orders to limit pollution, declining battery prices, and rapid adoption of electric vehicles such as buses and vans are the major factors
driving the growth of the electric commercial vehicle market.
A key factor in the rise in the adoption of electric commercial vehicles in recent years has been the changing
preferences of consumers.
Strategies to minimize the dependence on fossil fuels in developing economies are driving the electric commercial vehicle market
.
In addition, electric commercial vehicles are already widely used
by transport companies in countries such as China, the Netherlands and Sweden.

By 2025, Asia Pacific will become the largest market
for electric commercial vehicles.
In terms of volume, the growth of Asia Pacific can be attributed to many factors, such as the adoption of more electric buses, government policies to limit urban pollution, and the involvement of original equipment manufacturers in the development of electric vehicles
with different powertrains.

Electric buses accounted for the largest share of the electric commercial vehicle market in 2017 and are expected to remain dominant through 2025
.
It is estimated that buses in the electric commercial vehicle market have the highest sales volume, followed by vans, pickup trucks and trucks
.
Countries such as China and the United States have seen large sales
of electric buses due to high economic growth and government policies conducive to curbing emissions.

Battery electric vehicles are expected to be the largest segment of the electric commercial vehicle market by 2025, as battery electric vehicles are most widely used in electric commercial vehicles such as buses and vans
.
The growth of the battery electric vehicle market is mainly due to two factors, the increase in battery capacity can meet the power demand of electric commercial vehicles, and the decline
in battery prices.
In the next few years, the price of electric vehicle batteries will drop to $109/kWh
.

The global electric commercial vehicle market is dominated
by a few well-known companies such as Daimler (Germany), Tesla (USA), BYD (China), Nissan (Japan), Proterra (USA) and so on.

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