Market Size of europe electric light commercial vehicles Industry
| Icons | Lable | Value |
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Study Period | 2016 - 2029 |
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Market Size (2024) | USD 5.33 Billion |
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Market Size (2029) | USD 13.80 Billion |
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Largest Share by Sub Body Type | Light Commercial Pick-up Trucks |
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CAGR (2024 - 2029) | 20.96 % |
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Largest Share by Country | Germany |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Europe Electric Light Commercial Vehicles Market Analysis
The Europe Electric Light Commercial Vehicles Market size is estimated at USD 5.33 billion in 2024, and is expected to reach USD 13.80 billion by 2029, growing at a CAGR of 20.96% during the forecast period (2024-2029).
- Largest Segment by Fuel Type - BEV : In Europe, pure battery light commercial vehicles has highest sales in all fuel types. Due to higher fuel efficiency and less maintenance cost, the demand for the BEV LCV is increasing significantly.
- Largest Segment by Sub-Body Type - Light Commercial Pick-up Trucks : An increase in online purchases and growth in the e-commerce industry has grown the last mile logistics, which has immensely grown the market for vans for delivery in Europe in recent years.
- Fastest-growing Segment by Fuel Type - FCEV : Government focus on green mobility to cut carbon emissions, and development in charging infrastructure is making BEV the fastest growing fuel type in commercial vehicles in Europe.
- Largest Segment by Country - Germany : France has witnessed the highest sales of electric LCV in Europe. Stringent norms by the government and adopting electric mobility are fueling demand for electric light commercial vehicles in France.
