Market Size of asia pacific electric commercial vehicles Industry
| Icons | Lable | Value |
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Study Period | 2016 - 2029 |
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Market Size (2024) | USD 87.81 Billion |
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Market Size (2029) | USD 221.03 Billion |
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Largest Share by Body Type | Trucks |
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CAGR (2024 - 2029) | 20.28 % |
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Largest Share by Country | China |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
APAC Electric Commercial Vehicles Market Analysis
The Asia Pacific Electric Commercial Vehicles Market size is estimated at USD 87.81 billion in 2024, and is expected to reach USD 221.03 billion by 2029, growing at a CAGR of 20.28% during the forecast period (2024-2029).
- Largest Segment by Vehicle Type - Trucks : Development in E-mobility and limited electric options available in CV due to less models in big trucks makes the electric LCV the largest seller in an electric CV in APAC.
- Fastest-growing Segment by Vehicle Type - Light Commercial Vehicles : The growth in various industries such as e-commerce, construction, and logistics along with the adoption of electric mobility is driving the growth of electric LCVs across the APAC region.
- Largest Segment by Fuel Type - BEV : HEV has highest sales in the overall commercial vehicle category. The major drivers for this market are increasing gasoline prices, better fuel economy, governments' rebates and incentives.
- Fastest-growing Segment by Fuel Type - HEV : Norms by the government, awareness of e-mobility, development in charging infrastructure and incentives is making BEV the fastest growing fuel type in the APAC electric commercial vehicle market.
