Vehicle electrification is growing rapidly around the world and leading automakers are investing huge resources into safe, clean and energy-efficient vehicle concepts that are affordable. The commercial car segment is also adopting the concept of electrification to control emissions and save fuel in the future. Electric propulsion system is basically the power of electric vehicles. An electric motor converts electricity into kinetic energy that is used to power the wheels.
Concern about the changing environment due to excessive pollution by the auto industry is one of the main reasons why government agencies are promoting zero-emission vehicles over gasoline or diesel OEMs are beginning to do plans for an all-electric future in their upcoming vehicles. This includes the development of electric buses, vans, passenger trucks and trucks. To attract and encourage people to buy ECVs, governments around the world have introduced attractive policies and incentives including discounts on electric and commercial vehicles, reduced taxes on car purchases, easy access to loans and more
The major drivers of this market include the need for fuel efficient and emission friendly vehicles and electric commercial vehicles such as the increasing demand for electric commercial vehicles in the logistics industry though reduced fuel costs new liabilities and innovations in EV battery capacity It will, create new revenue opportunities. Whereas, oil companies trying to challenge EVs, limited battery capacity and long charging times are not a few challenges for the global market.
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The prominent players in the global electric commercial vehicle market include
- Traton SE(Germany)
- AB Volvo(Sweden)
- BYD Auto Co. Ltd(China)
- Daimler AG(Germany)
- Zhongtong Bus Holding (China)
- Anhui Ankai Automobile Co. LTD(China)
- Proterra Inc. (US)
- Rivian(US)
- Tata Motors Limited(India)
- Tesla Inc.(US)
Major industry trends in the Commercial Electric Vehicles market
In June 2023, Volkswagen commercial vehicles will be able to take autonomous driving tests using an all-electric Volkswagen ID in addition. It has already started in a test program at the Volkswagen Group (VWGoA) in Texas, USA, and various parts of Europe. The company aims to expand the sales of travel packages and routes for the Volkswagen Group.
By Vehicle Type
· Bus
· Trucks
· Pick-up Trucks
· Vans
By Propulsion
· Battery-electric vehicles
· Plug-in Hybrid Electric Vehicles
· Fuel Cell Electric Vehicles
By End Users
· Last-mile delivery
· Distribution Services
· Transportation
· Others
There are hybrid electric vehicles on the market. These HEVs are more than just electric motors. Modern HEVs incorporate technology such as regenerative braking, which recovers energy and stores the energy generated during braking to recharge the main battery, instead of wasting it as heat energy like many traditional brake HEVs -They also in shutdown main diesel engine at idle to reduce emissions and restart when necessary. It is often referred to as a start-stop system which is particularly useful for bus operators plying busy city routes with multiple stops.
The major factors influencing the Commercial Vehicle Electric Propulsion Systems market globally are the increasing number of commercial HEVs and increasing demand for zero-emission and fuel-efficient commercial vehicles. Some of the major restraints in the Commercial Vehicle Electric Propulsion System market globally are high fluctuations in product prices which hinder the development of electrical systems and low load carrying.
By Region
· North America (U.S., Canada, Mexico)
· Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, and the Rest of Eastern Europe)
· Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
· Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New- Zealand, and the Rest of APAC)
· Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, and South Africa)
· South America (Brazil, Argentina, and the Rest of SA)
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Commercial Vehicle Electric Propulsion System Market Growth For
With growing concerns about fuel efficiency, global warming and emissions standards, manufacturers are increasingly focusing on developing advanced electric propulsion systems without compromising its performance Increasing growth in hybrid vehicles worldwide, fueling the indirect growth of electric propulsion. An electric or hybrid commercial vehicle combines conventional diesel engine propulsion with electric propulsion. The predominant electric propulsion system or powertrain is to achieve better fuel efficiency and reduce the carbon footprint on the environment
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