Asia Pacific Electric Commercial Vehicles Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

The Asia Pacific Electric Commercial Vehicles Market is segmented by Vehicle Body Type (Buses, Heavy-duty Commercial Trucks, Light Commercial Pick-up Trucks, Light Commercial Vans, Medium-duty Commercial Trucks), by Fuel Category (BEV, FCEV, HEV, PHEV) and by Country (Australia, China, India, Indonesia, Japan, Malaysia, South Korea, Thailand, Rest-of-APAC). The report offers market size in both market value in USD and market volume in unit. Further, the report includes a market split by Vehicle Type, Vehicle Configuration, Vehicle Body Type, Propulsion Type, and Fuel Category.

Asia Pacific Electric Commercial Vehicles Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

Asia Pacific Electric Commercial Vehicles Market Size

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Asia Pacific Electric Commercial Vehicles Market Summary
Study Period 2017 - 2029
Base Year For Estimation 2024
Forecast Data Period 2025 - 2029
Market Size (2025) USD 114 Billion
Market Size (2029) USD 221 Billion
CAGR (2025 - 2029) 17.99 %
Market Concentration Medium

Major Players

Asia Pacific Electric Commercial Vehicles Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Asia Pacific Electric Commercial Vehicles Market Analysis

The Asia Pacific Electric Commercial Vehicles Market size is estimated at 114 billion USD in 2025, and is expected to reach 221 billion USD by 2029, growing at a CAGR of 17.99% during the forecast period (2025-2029).

The Asia Pacific electric commercial vehicles industry is experiencing transformative growth driven by rapid urbanization and intensifying environmental concerns across the region. The transition toward sustainable transportation solutions has gained significant momentum, evidenced by the substantial increase in hybrid and electric commercial vehicles registrations reaching 490,958 units in 2022, nearly doubling from the previous year. This shift reflects a broader industrial transformation as businesses increasingly recognize the long-term economic and environmental benefits of electric mobility solutions. The region's robust manufacturing capabilities, coupled with technological advancements in vehicle design and performance, have created a fertile ground for innovation and market expansion.


The commercial EV charging infrastructure landscape has witnessed remarkable development, forming the backbone of electric commercial vehicle adoption. The region has demonstrated substantial progress in expanding its charging network, with publicly available slow charging stations reaching 399,201 units and fast charging stations totaling 248,494 units in 2023. This infrastructure growth has been complemented by significant improvements in battery technology and efficiency. The industry has achieved a notable milestone with lithium-ion battery prices declining by approximately 80% to reach USD 220 per kWh, making electric commercial vehicles increasingly cost-competitive with traditional alternatives.


The market is characterized by intense competition and strategic collaborations among manufacturers, suppliers, and technology providers. Major automotive manufacturers are expanding their electric commercial vehicle portfolios through innovative product launches and strategic partnerships. For instance, in 2023, Yutong Bus unveiled two new hydrogen fuel cell buses at the Zhengzhou International New Energy Vehicle Expo, demonstrating the industry's commitment to diversifying clean energy solutions. Similarly, BYD and Spanish bus manufacturer Castrosua's collaboration to introduce custom-made electric buses highlights the growing emphasis on market-specific solutions and technological expertise sharing.


The industry landscape is being reshaped by emerging business models and operational innovations in the commercial transportation sector. Fleet operators are increasingly adopting smart mobility solutions that integrate advanced telematics, predictive maintenance, and route optimization technologies. The rise of electric logistics solutions has been particularly notable in urban areas, where last-mile delivery services are rapidly transitioning to electric fleet vehicles. This transformation is supported by the development of specialized electric commercial vehicles designed for specific applications, from urban delivery vans to heavy-duty trucks, enabling businesses to optimize their operations while meeting sustainability goals.

Segment Analysis: Vehicle Body Type

Light Commercial Pick-up Trucks Segment in Asia Pacific Electric Commercial Vehicles Market

Light Commercial Pick-up Trucks dominate the Asia Pacific electric commercial vehicles market, commanding approximately 40% market share in 2024, with sales volumes reaching 308,727 units. This segment's leadership position is driven by the versatility and adaptability of electric pick-up trucks in meeting diverse commercial needs across urban and rural environments. The segment's strong performance is bolstered by increasing demand from e-commerce, last-mile delivery services, and small businesses seeking cost-effective and environmentally sustainable transportation solutions. Additionally, government incentives specifically targeting light commercial vehicles, coupled with advancing battery technology that extends range capabilities, have made electric pick-up trucks an increasingly attractive option for businesses across the region.

Market Analysis of Asia Pacific Electric Commercial Vehicles Market: Chart for Vehicle Body Type

Medium-duty Commercial Trucks Segment in Asia Pacific Electric Commercial Vehicles Market

The Medium-duty Commercial Trucks segment is emerging as the fastest-growing category in the market, with projections indicating robust expansion through 2024-2029. This remarkable growth is driven by several factors, including technological advancements in electric powertrains specifically designed for medium-duty applications, improving battery efficiency, and expanding charging infrastructure across the region. The segment is benefiting from increasing adoption by urban logistics companies, retail distribution networks, and municipal services seeking to reduce their carbon footprint while optimizing operational costs. Furthermore, government regulations promoting zero-emission zones in urban areas and financial incentives for electric commercial vehicle adoption are accelerating the transition to electric medium-duty trucks across key markets in the Asia Pacific region.

Remaining Segments in Vehicle Body Type

The other segments in the market, including Buses, Heavy-duty Commercial Trucks, and Light Commercial Vans, each play crucial roles in the overall ecosystem of electric commercial vehicles. The bus segment is particularly significant in urban transportation modernization efforts, with many cities transitioning their public transport fleets to electric alternatives. Heavy-duty Commercial Trucks are gaining traction in long-haul transportation and construction sectors, while Light Commercial Vans are becoming increasingly popular in urban delivery and service industries. These segments are experiencing varying levels of growth and adoption, influenced by factors such as infrastructure development, technological readiness, and specific use-case requirements across different markets in the Asia Pacific region.

Segment Analysis: Fuel Category

BEV Segment in Asia Pacific Electric Commercial Vehicles Market

Battery Electric Vehicles (BEVs) have emerged as the dominant force in the Asia Pacific electric commercial vehicles market, commanding approximately 86% market share in 2024. This substantial market presence is driven by several factors, including significant advancements in battery technology, expanding charging infrastructure networks across major Asian economies, and strong government support through subsidies and incentives. China leads the BEV adoption in the region, followed by significant uptake in Japan and South Korea. The segment's growth is further bolstered by major fleet operators transitioning to zero-emission vehicles, particularly in the urban delivery and public transportation sectors. Additionally, decreasing battery costs and improving vehicle range capabilities have made BEVs increasingly attractive for commercial applications, from light-duty delivery vans to heavy-duty trucks.

FCEV Segment in Asia Pacific Electric Commercial Vehicles Market

The Fuel Cell Electric Vehicle (FCEV) segment is emerging as the fastest-growing category in the Asia Pacific electric commercial vehicles market, with projections indicating approximately a 40% growth rate from 2024 to 2029. This remarkable growth trajectory is primarily driven by increasing investments in hydrogen infrastructure development, particularly in countries like Japan, South Korea, and China. The segment's expansion is supported by the technology's advantages in heavy-duty applications, where FCEVs offer longer range capabilities and shorter refueling times compared to battery-electric alternatives. Major automotive manufacturers in the region are increasingly focusing on FCEV development, particularly for long-haul trucking and bus applications. The segment is also benefiting from growing government support through dedicated hydrogen strategies and substantial funding for research and development initiatives.

Remaining Segments in Fuel Category

The Hybrid Electric Vehicle (HEV) and Plug-in Hybrid Electric Vehicle (PHEV) segments continue to play important roles in the Asia Pacific electric commercial vehicles market, offering transitional solutions for fleet operators not yet ready for full electrification. HEVs provide improved fuel efficiency and reduced emissions while maintaining operational flexibility, making them particularly attractive in regions with developing charging infrastructure. PHEVs bridge the gap between conventional hybrids and full electric vehicles, offering both pure electric driving capability for short-range urban operations and extended range through hybrid operation. These segments are particularly strong in markets where charging infrastructure is still developing or where operators require more flexible powertrain solutions for varied operational requirements.

Asia Pacific Electric Commercial Vehicles Market Geography Segment Analysis

Asia Pacific Electric Commercial Vehicles Market in China

China continues to dominate the Asia Pacific electric commercial vehicles market, commanding approximately 87% of the regional market share in 2024. The country's leadership position is reinforced by its robust manufacturing capabilities, extensive supply chain network, and advanced battery technology ecosystem. The government's unwavering commitment to sustainable transportation through comprehensive policy support, including purchase subsidies and infrastructure development initiatives, has created a conducive environment for market growth. Chinese manufacturers have demonstrated remarkable innovation in developing diverse electric commercial vehicle portfolios, ranging from urban delivery electric vans to heavy-duty electric trucks. The country's strategic focus on reducing urban pollution and achieving carbon neutrality goals has accelerated the adoption of electric commercial vehicles across various sectors. Furthermore, China's established charging infrastructure network, coupled with decreasing battery costs and improving vehicle performance, has significantly enhanced the commercial viability of electric vehicles for fleet operators and logistics companies.

Asia Pacific Electric Commercial Vehicles Market in Indonesia

Indonesia is emerging as the region's fastest-growing market for electric commercial vehicles, with a projected growth rate of approximately 37% from 2024 to 2029. The country's transformation is driven by its ambitious vision to become a major hub for electric vehicle manufacturing in Southeast Asia. Indonesia's unique position as a global leader in nickel reserves, a critical component for electric vehicle batteries, has attracted significant investments in the electric vehicle supply chain. The government's comprehensive approach includes developing a robust charging infrastructure network, implementing favorable tax policies, and promoting local manufacturing capabilities. The country's large-scale urbanization and growing emphasis on sustainable transportation solutions have created substantial opportunities for electric commercial vehicle adoption. Additionally, Indonesia's strategic partnerships with international manufacturers and technology providers have accelerated knowledge transfer and technological advancement in the sector. The increasing awareness of environmental sustainability among businesses and the rising total cost of ownership advantages of electric vehicles have further catalyzed market growth.

Asia Pacific Electric Commercial Vehicles Market in Japan

Japan's electric commercial vehicles market exemplifies the country's commitment to technological innovation and environmental sustainability. The nation's advanced automotive manufacturing capabilities and strong focus on research and development have positioned it as a pioneer in electric vehicle technology. Japanese manufacturers have particularly excelled in developing efficient powertrains and advanced battery management systems for commercial applications. The country's mature logistics sector has been instrumental in driving the adoption of electric commercial vehicles, particularly in urban delivery and municipal services. Japan's unique approach to electrification, which includes a balanced focus on battery electric vehicles and fuel cell technology, has created diverse opportunities for commercial vehicle electrification. The integration of smart charging solutions and vehicle-to-grid technologies has enhanced the appeal of electric commercial vehicles for fleet operators. Furthermore, Japan's strong emphasis on quality and reliability has established high standards for electric commercial vehicle manufacturing across the region.

Asia Pacific Electric Commercial Vehicles Market in India

India's electric commercial vehicles market is experiencing a remarkable transformation driven by the country's push towards sustainable mobility solutions. The nation's vast commercial vehicle sector presents significant opportunities for electrification, particularly in urban logistics and public transportation. The government's production-linked incentive scheme has attracted substantial investments in electric vehicle manufacturing, creating a robust ecosystem for commercial vehicle electrification. Indian manufacturers have focused on developing cost-effective electric commercial vehicles tailored to local operating conditions and requirements. The country's growing emphasis on reducing oil dependency and improving urban air quality has accelerated the adoption of electric buses and delivery vehicles. The emergence of innovative business models, including battery swapping and vehicle leasing, has addressed key adoption barriers. Additionally, India's strong IT capabilities have facilitated the integration of telematics and fleet management solutions, enhancing the operational efficiency of electric commercial vehicles.

Asia Pacific Electric Commercial Vehicles Market in Other Countries

The electric commercial vehicles market in other Asia Pacific countries, including South Korea, Malaysia, Thailand, and Australia, demonstrates diverse adoption patterns and growth trajectories. These markets are characterized by varying levels of infrastructure development, government support, and industry readiness for electrification. South Korea's technological prowess and strong automotive manufacturing base have enabled significant advances in electric commercial vehicle development. Malaysia and Thailand have positioned themselves as emerging manufacturing hubs, leveraging their established automotive industries to attract investments in electric vehicle production. Australia's vast distances and unique operating conditions have led to specialized applications of electric commercial vehicles, particularly in urban and regional logistics. These markets benefit from knowledge sharing and technology transfer within the region, while developing distinct approaches to address their specific transportation needs and environmental goals. The collective progress in these countries contributes to the broader regional transition towards sustainable commercial transportation solutions.

Asia Pacific Electric Commercial Vehicles Industry Overview

Top Companies in Asia Pacific Electric Commercial Vehicles Market

The Asia Pacific electric commercial vehicles market is characterized by intense innovation and strategic developments among key players like Hyundai Motor Company, BYD Auto, Mitsubishi Motors, and Tata Motors. Companies are heavily investing in research and development to advance battery technology, enhance vehicle range, and improve overall performance capabilities. Operational agility is demonstrated through flexible manufacturing processes and rapid responses to market demands, with manufacturers increasingly adopting smart manufacturing technologies and digitalized operations. Strategic partnerships, particularly in battery development and charging infrastructure, have become crucial for market expansion, with companies forming alliances across the value chain. Geographic expansion remains a key focus, with companies establishing new manufacturing facilities and distribution networks across different countries to capture emerging opportunities and strengthen their regional presence.

Market Dominated by Regional Manufacturing Giants

The competitive landscape is characterized by a mix of established automotive conglomerates and specialized electric commercial vehicle manufacturers, with Chinese companies holding a significant market position. Traditional automotive giants like Hyundai and Tata Motors leverage their extensive manufacturing capabilities and established distribution networks to maintain market leadership, while pure-play EV manufacturers like BYD are gaining ground through focused innovation and specialized expertise. The market shows moderate consolidation, with the top players commanding substantial market share while leaving room for emerging players and startups to establish their presence in specific niches or regional markets.


The industry is witnessing strategic consolidation through mergers, acquisitions, and joint ventures, particularly in technology sharing and manufacturing capabilities. Companies are forming strategic alliances to share development costs and accelerate innovation in key areas such as battery technology and autonomous driving features. Local manufacturers are increasingly partnering with global technology providers to enhance their competitive position, while international players are collaborating with regional partners to strengthen their market presence and navigate local regulatory environments.

Innovation and Sustainability Drive Future Success

For incumbent players to maintain and expand their market share, a focus on technological innovation, particularly in battery efficiency and charging solutions, remains crucial. Companies need to invest in developing comprehensive ecosystem solutions, including electric commercial fleet management systems and charging infrastructure, while maintaining cost competitiveness through economies of scale. Building strong relationships with commercial fleet operators and government bodies through customized solutions and support services is becoming increasingly important. Additionally, establishing robust supply chain networks and localizing production can help companies better serve regional markets and mitigate operational risks.


Emerging players can gain ground by focusing on specific market segments or geographic regions where they can build competitive advantages. Success factors include developing innovative financing solutions, establishing strategic partnerships for technology and infrastructure development, and creating differentiated value propositions for specific commercial applications. Companies must also navigate evolving regulatory landscapes, particularly regarding emissions standards and safety requirements, while maintaining flexibility to adapt to changing market conditions. The ability to offer comprehensive after-sales support and maintain strong relationships with key stakeholders will be crucial for long-term success in this rapidly evolving market.

Asia Pacific Electric Commercial Vehicles Market Leaders

  1. BYD Auto Co. Ltd.

  2. Daihatsu Motor Co. Ltd.

  3. Dongfeng Motor Corporation

  4. Hyundai Motor Company

  5. Mitsubishi Motors Corporation

  6. *Disclaimer: Major Players sorted in no particular order
Asia Pacific Electric Commercial Vehicles Market Concentration
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Asia Pacific Electric Commercial Vehicles Market News

  • July 2023: Yutong Group formed a partnership with Langfang Transportation to jointly promote the development of new energy logistics transportation.
  • June 2023: Yutong Bus officially unveiled two hydrogen fuel cell buses, 10.5 m- and 12 m-long hydrogen fuel cell buses, at the 11th Zhengzhou International New Energy Vehicle Expo.
  • May 2023: The BYD and Spanish bus manufacturer Castrosua joined forces to introduce custom-made, fully electromechanical buses.

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For the Vehicle Hub report, we provide an extensive collection of over 150 free charts, delivering detailed insights on regional and country-level dynamics within the vehicle industry. This encompasses in-depth analyses of vehicle registrations, usage patterns in both consumer and business segments, and evaluations of various vehicle configurations and body types. The report delves into critical industrial trends such as shifts in vehicle production and distribution centers, changes in vehicle ownership costs, and advancements in automotive technologies. Further, our report offers comprehensive market segmentation by vehicle type, body type, propulsion, and fuel categories, providing a nuanced understanding of the market landscape. It also explores the adoption rate of new technologies, the impact of regulatory changes, and the influence of economic factors on the vehicle market. We include a thorough examination of key industry players, regulatory frameworks, and market size in terms of both revenue and unit sales, leading to strategic projections and forecasts that account for emerging trends and potential shifts in the industry.

Asia Pacific Electric Commercial Vehicles Market
Asia Pacific Electric Commercial Vehicles Market
Asia Pacific Electric Commercial Vehicles Market
Asia Pacific Electric Commercial Vehicles Market

Asia Pacific Electric Commercial Vehicles Market Report - Table of Contents

1. EXECUTIVE SUMMARY & KEY FINDINGS

2. REPORT OFFERS

3. INTRODUCTION

  • 3.1 Study Assumptions & Market Definition
  • 3.2 Scope of the Study​
  • 3.3 Research Methodology

4. KEY INDUSTRY TRENDS

  • 4.1 Population
  • 4.2 GDP Per Capita
  • 4.3 Consumer Spending For Vehicle Purchase (cvp)
  • 4.4 Inflation
  • 4.5 Interest Rate For Auto Loans
  • 4.6 Impact Of Electrification
  • 4.7 EV Charging Station
  • 4.8 Battery Pack Price
  • 4.9 New Xev Models Announced
  • 4.10 Logistics Performance Index
  • 4.11 Fuel Price
  • 4.12 Oem-wise Production Statistics
  • 4.13 Regulatory Framework
  • 4.14 Value Chain & Distribution Channel Analysis

5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

  • 5.1 Vehicle Body Type
    • 5.1.1 Buses
    • 5.1.2 Heavy-duty Commercial Trucks
    • 5.1.3 Light Commercial Pick-up Trucks
    • 5.1.4 Light Commercial Vans
    • 5.1.5 Medium-duty Commercial Trucks
  • 5.2 Fuel Category
    • 5.2.1 BEV
    • 5.2.2 FCEV
    • 5.2.3 HEV
    • 5.2.4 PHEV
  • 5.3 Country
    • 5.3.1 Australia
    • 5.3.2 China
    • 5.3.3 India
    • 5.3.4 Indonesia
    • 5.3.5 Japan
    • 5.3.6 Malaysia
    • 5.3.7 South Korea
    • 5.3.8 Thailand
    • 5.3.9 Rest-of-APAC

6. COMPETITIVE LANDSCAPE

  • 6.1 Key Strategic Moves
  • 6.2 Market Share Analysis
  • 6.3 Company Landscape
  • 6.4 Company Profiles
    • 6.4.1 BYD Auto Co. Ltd.
    • 6.4.2 Daihatsu Motor Co. Ltd.
    • 6.4.3 Dongfeng Motor Corporation
    • 6.4.4 Higer Bus Company Ltd.
    • 6.4.5 Hino Motors Ltd.
    • 6.4.6 Hyundai Motor Company
    • 6.4.7 Mahindra & Mahindra Limited
    • 6.4.8 Mitsubishi Motors Corporation
    • 6.4.9 Tata Motors Limited
    • 6.4.10 Zhengzhou Yutong Bus Co. Ltd.
  • *List Not Exhaustive

7. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS

8. APPENDIX

  • 8.1 Global Overview
    • 8.1.1 Overview
    • 8.1.2 Porter’s Five Forces Framework
    • 8.1.3 Global Value Chain Analysis
    • 8.1.4 Market Dynamics (DROs)
  • 8.2 Sources & References
  • 8.3 List of Tables & Figures
  • 8.4 Primary Insights
  • 8.5 Data Pack
  • 8.6 Glossary of Terms
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List of Tables & Figures

  1. Figure 1:  
  2. POPULATION TRENDS, VOLUME IN UNITS, ASIA-PACIFIC, 2017 - 2030
  1. Figure 2:  
  2. GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, ASIA-PACIFIC, 2017 - 2030
  1. Figure 3:  
  2. AVERAGE CONSUMER SPENDING PER CAPITA ON PURCHASE OF VEHICLES, VALUE IN USD, ASIA-PACIFIC, 2017 - 2030
  1. Figure 4:  
  2. INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, ASIA-PACIFIC, 2017 - 2030
  1. Figure 5:  
  2. AUTO LOAN INTEREST RATES, PERCENTAGE, ASIA-PACIFIC, 2017 - 2022
  1. Figure 6:  
  2. ELECTRIC VEHICLE MARKET PENETRATION RATE, BY VEHICLE TYPE, PERCENTAGE OF VOLUME, ASIA-PACIFIC, 2017 - 2030
  1. Figure 7:  
  2. CHARGING STATION DEPLOYMENT, BY TYPE, VOLUME IN UNITS, ASIA-PACIFIC, 2017 - 2022
  1. Figure 8:  
  2. AVERAGE LITHIUM-ION BATTERY PACK PRICE, VALUE IN USD, ASIA-PACIFIC, 2017 - 2030
  1. Figure 9:  
  2. ANNOUNCEMENT OF NEW XEV MODELS, BY VEHICLE TYPE, VOLUME IN UNITS, ASIA-PACIFIC, 2023 - 2027
  1. Figure 10:  
  2. WORLD BANK LOGISTICS PERFORMANCE INDEX, ASIA-PACIFIC, 2017 - 2030
  1. Figure 11:  
  2. FUEL PRICE, BY FUEL TYPE, USD/LITER, ASIA-PACIFIC, 2017 - 2022
  1. Figure 12:  
  2. OEM-WISE PRODUCTION STATISTICS, VOLUME IN UNITS, ASIA-PACIFIC, 2017 - 2022
  1. Figure 13:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, VOLUME IN UNITS, 2017 - 2030
  1. Figure 14:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, VALUE IN USD, 2017 - 2030
  1. Figure 15:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY VEHICLE BODY TYPE, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 16:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY VEHICLE BODY TYPE, BY VALUE IN USD, 2017 - 2030
  1. Figure 17:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
  1. Figure 18:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
  1. Figure 19:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY BUSES, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 20:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY BUSES, BY VALUE IN USD, 2017 - 2030
  1. Figure 21:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
  1. Figure 22:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 23:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2017 - 2030
  1. Figure 24:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
  1. Figure 25:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 26:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VALUE IN USD, 2017 - 2030
  1. Figure 27:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
  1. Figure 28:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 29:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VALUE IN USD, 2017 - 2030
  1. Figure 30:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
  1. Figure 31:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 32:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2017 - 2030
  1. Figure 33:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
  1. Figure 34:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY FUEL CATEGORY, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 35:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY FUEL CATEGORY, BY VALUE IN USD, 2017 - 2030
  1. Figure 36:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 37:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 38:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY BEV, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 39:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY BEV, BY VALUE IN USD, 2017 - 2030
  1. Figure 40:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 41:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY FCEV, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 42:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY FCEV, BY VALUE IN USD, 2017 - 2030
  1. Figure 43:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 44:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY HEV, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 45:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY HEV, BY VALUE IN USD, 2017 - 2030
  1. Figure 46:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 47:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY PHEV, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 48:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY PHEV, BY VALUE IN USD, 2017 - 2030
  1. Figure 49:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
  1. Figure 50:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 51:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
  1. Figure 52:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
  1. Figure 53:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
  1. Figure 54:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY AUSTRALIA, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 55:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY AUSTRALIA, BY VALUE IN USD, 2017 - 2030
  1. Figure 56:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE CONFIGURATION, 2017 - 2030
  1. Figure 57:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY CHINA, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 58:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY CHINA, BY VALUE IN USD, 2017 - 2030
  1. Figure 59:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE CONFIGURATION, 2017 - 2030
  1. Figure 60:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY INDIA, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 61:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY INDIA, BY VALUE IN USD, 2017 - 2030
  1. Figure 62:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE CONFIGURATION, 2017 - 2030
  1. Figure 63:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY INDONESIA, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 64:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY INDONESIA, BY VALUE IN USD, 2017 - 2030
  1. Figure 65:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE CONFIGURATION, 2017 - 2030
  1. Figure 66:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY JAPAN, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 67:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY JAPAN, BY VALUE IN USD, 2017 - 2030
  1. Figure 68:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE CONFIGURATION, 2017 - 2030
  1. Figure 69:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY MALAYSIA, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 70:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY MALAYSIA, BY VALUE IN USD, 2017 - 2030
  1. Figure 71:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE CONFIGURATION, 2017 - 2030
  1. Figure 72:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY SOUTH KOREA, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 73:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY SOUTH KOREA, BY VALUE IN USD, 2017 - 2030
  1. Figure 74:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE CONFIGURATION, 2017 - 2030
  1. Figure 75:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY THAILAND, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 76:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY THAILAND, BY VALUE IN USD, 2017 - 2030
  1. Figure 77:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE CONFIGURATION, 2017 - 2030
  1. Figure 78:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY REST-OF-APAC, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 79:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, BY REST-OF-APAC, BY VALUE IN USD, 2017 - 2030
  1. Figure 80:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE CONFIGURATION, 2017 - 2030
  1. Figure 81:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2017 - 2030
  1. Figure 82:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET, MOST ADOPTED STRATEGIES, 2017 - 2030
  1. Figure 83:  
  2. ASIA PACIFIC ELECTRIC COMMERCIAL VEHICLES MARKET SHARE(%), BY MAJOR PLAYERS

Asia Pacific Electric Commercial Vehicles Industry Segmentation

Buses, Heavy-duty Commercial Trucks, Light Commercial Pick-up Trucks, Light Commercial Vans, Medium-duty Commercial Trucks are covered as segments by Vehicle Body Type. BEV, FCEV, HEV, PHEV are covered as segments by Fuel Category. Australia, China, India, Indonesia, Japan, Malaysia, South Korea, Thailand, Rest-of-APAC are covered as segments by Country.
Vehicle Body Type Buses
Heavy-duty Commercial Trucks
Light Commercial Pick-up Trucks
Light Commercial Vans
Medium-duty Commercial Trucks
Fuel Category BEV
FCEV
HEV
PHEV
Country Australia
China
India
Indonesia
Japan
Malaysia
South Korea
Thailand
Rest-of-APAC
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Market Definition

  • Vehicle Type - The category covers light, medium, and heavy duty commercial vehicle.
  • Vehicle Body Type - This includes Light Commercial Pick-up Trucks, Light Commercial Vans, Medium-duty Commercial Trucks, Heavy-duty Commercial Trucks, and Medium and Heavy Duty Buses.
  • Fuel Category - The category exclusively covers electric propulsion systems, including various types such as HEV (Hybrid Electric Vehicles), PHEV (Plug-in Hybrid Electric Vehicles), BEV (Battery Electric Vehicles), and FCEV (Fuel Cell Electric Vehicles).
Keyword Definition
Electric Vehicle (EV) A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles.
BEV A BEV relies completely on a battery and a motor for propulsion. The battery in the vehicle must be charged by plugging it into an outlet or public charging station. BEVs do not have an ICE and hence are pollution-free. They have a low cost of operation and reduced engine noise as compared to conventional fuel engines. However, they have a shorter range and higher prices than their equivalent gasoline models.
PEV A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids.
Plug-in Hybrid EV A vehicle that can be powered either by an ICE or an electric motor. In contrast to normal hybrid EVs, they can be charged externally.
Internal combustion engine An engine in which the burning of fuels occurs in a confined space called a combustion chamber. Usually run with gasoline/petrol or diesel.
Hybrid EV A vehicle powered by an ICE in combination with one or more electric motors that use energy stored in batteries. These are continually recharged with power from the ICE and regenerative braking.
Commercial Vehicles Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes light commercial vehicles (LCVs) and medium and heavy-duty vehicles (M&HCV).
Passenger Vehicles Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat.
Light Commercial Vehicles Commercial vehicles that weigh less than 6,000 lb (Class 1) and in the range of 6,001–10,000 lb (Class 2) are covered under this category.
M&HDT Commercial vehicles that weigh in the range of 10,001–14,000 lb (Class 3), 14,001–16,000 lb (Class 4), 16,001–19,500 lb (Class 5), 19,501–26,000 lb (Class 6), 26,001–33,000 lb (Class 7) and above 33,001 lb (Class 8) are covered under this category.
Bus A mode of transportation that typically refers to a large vehicle designed to carry passengers over long distances. This includes transit bus, school bus, shuttle bus, and trolleybuses.
Diesel It includes vehicles that use diesel as their primary fuel. A diesel engine vehicle have a compression-ignited injection system rather than the spark-ignited system used by most gasoline vehicles. In such vehicles, fuel is injected into the combustion chamber and ignited by the high temperature achieved when gas is greatly compressed.
Gasoline It includes vehicles that use gas/petrol as their primary fuel. A gasoline car typically uses a spark-ignited internal combustion engine. In such vehicles, fuel is injected into either the intake manifold or the combustion chamber, where it is combined with air, and the air/fuel mixture is ignited by the spark from a spark plug.
LPG It includes vehicles that use LPG as their primary fuel. Both dedicated and bi-fuel LPG vehicles are considered under the scope of the study.
CNG It includes vehicles that use CNG as their primary fuel. These are vehicles that operate like gasoline-powered vehicles with spark-ignited internal combustion engines.
HEV All the electric vehicles that use batteries and an internal combustion engine (ICE) as their primary source for propulsion are considered under this category. HEVs generally use a diesel-electric powertrain and are also known as hybrid diesel-electric vehicles. An HEV converts the vehicle momentum (kinetic energy) into electricity that recharges the battery when the vehicle slows down or stops. The battery of HEV cannot be charged using plug-in devices.
PHEV PHEVs are powered by a battery as well as an ICE. The battery can be charged through either regenerative breaking using the ICE or by plugging into some external charging source. PHEVs have a better range than BEVs but are comparatively less eco-friendly.
Hatchback These are compact-sized cars with a hatch-type door provided at the rear end.
Sedan These are usually two- or four-door passenger cars, with a separate area provided at the rear end for luggage.
SUV Popularly known as SUVs, these cars come with four-wheel drive, and usually have high ground clearance. These cars can also be used as off-road vehicles.
MPV These are multi-purpose vehicles (also called minivans) designed to carry a larger number of passengers. They carry between five and seven people and have room for luggage too. They are usually taller than the average family saloon car, to provide greater headroom and ease of access, and they are usually front-wheel drive.
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Mordor Intelligence follows a four-step methodology in all its reports.

  • Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the sales volume with their respective average selling price (ASP). While estimating ASP factors like average inflation, market demand shift, manufacturing cost, technological advancement, and varying consumer preference, among others have been taken into account.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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Asia Pacific Electric Commercial Vehicles Market Research FAQs

How big is the Asia Pacific Electric Commercial Vehicles Market?

The Asia Pacific Electric Commercial Vehicles Market size is expected to reach USD 114.05 billion in 2025 and grow at a CAGR of 17.99% to reach USD 221.03 billion by 2029.

What is the current Asia Pacific Electric Commercial Vehicles Market size?

In 2025, the Asia Pacific Electric Commercial Vehicles Market size is expected to reach USD 114.05 billion.

Who are the key players in Asia Pacific Electric Commercial Vehicles Market?

BYD Auto Co. Ltd., Daihatsu Motor Co. Ltd., Dongfeng Motor Corporation, Hyundai Motor Company and Mitsubishi Motors Corporation are the major companies operating in the Asia Pacific Electric Commercial Vehicles Market.

Which segment has the biggest share in the Asia Pacific Electric Commercial Vehicles Market?

In the Asia Pacific Electric Commercial Vehicles Market, the BEV segment accounts for the largest share by fuel category.

Which country has the biggest share in the Asia Pacific Electric Commercial Vehicles Market?

In 2025, China accounts for the largest share by country in the Asia Pacific Electric Commercial Vehicles Market.

What years does this Asia Pacific Electric Commercial Vehicles Market cover, and what was the market size in 2025?

In 2025, the Asia Pacific Electric Commercial Vehicles Market size was estimated at 114.05 billion. The report covers the Asia Pacific Electric Commercial Vehicles Market historical market size for years: 2017, 2018, 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Asia Pacific Electric Commercial Vehicles Market size for years: 2025, 2026, 2027, 2028 and 2029.

Asia Pacific Electric Commercial Vehicles Market Research

Mordor Intelligence provides a comprehensive analysis of the Asia Pacific electric commercial vehicle market, drawing on decades of consulting expertise in the transportation sector. Our detailed research covers electric commercial vehicles, including electric trucks, electric buses, and electric vans. We focus specifically on B category vehicles and the broader commercial vehicle category. The report examines various segments, such as commercial EV charging infrastructure, electric delivery vehicles, and emerging trends in electric fleet vehicle deployment across key regions like China and Indonesia.

Our analysis offers stakeholders actionable insights into component markets, propulsion types, and duty-type segmentation across the Asia-Pacific truck market. The report, available for easy download in PDF format, provides a detailed examination of electric light commercial vehicles and electric logistics vehicles. It also addresses crucial aspects of electric commercial fleet operations. Stakeholders benefit from our thorough assessment of commercial electric truck developments, market dynamics, and technological advancements in ECVs. This enables informed decision-making for fleet electrification strategies and infrastructure planning.