An electric logistic vehicle operates on electricity as compared to its counterpart, which operates on fuel. Instead of running on an internal combustion engine, these logistics vehicles run on an electric motor which needs continuous supply of energy from batteries. Wide range of batteries are available as per the power requirement. These include zinc-air, molten salt, lithium ion, and nickel based designs. Electric logistics vehicle market is anticipated to grow considerably in coming years.
MARKET SCOPE
The "Global Electric Logistics Vehicle Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the electric logistics vehicle market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading electric logistics vehicle market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global electric logistics vehicle market is segmented into medium/heavy truck electric logistics vehicle, micro/light truck electric logistics vehicle, MPV electric logistics vehicle and micro-surface electric logistics vehicle.
- On the basis of application, the market is segmented into express postal service, online retailers and others.
MARKET DYNAMICS
Drivers:
- Rising adoption of emission-free commercial vehicles.
- Rising urbanization and increasing per capita disposable income to boost market growth of electric logistics vehicles.
Restraints:
- High manufacturing cost involved in producing electric vehicles
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The electric logistics vehicle market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the electric logistics vehicle market in these regions.
IMPACT OF COVID-19 ON ELECTRIC LOGISTICS VEHICLE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. This pandemic restricted the movement of non-essential goods in various regions. This has impacted the sales of electric logistics vehicle across the world to a great extent.
MARKET PLAYERS
The report covers key developments in the electric logistics vehicle market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from electric logistics vehicle market are anticipated to lucrative growth opportunities in the future with the rising demand for electric logistics vehicles in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the electric logistics vehicle market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- AB Volvo
- Alke
- BYD Motors Inc.
- Chanje Energy
- Nikola Corporation
- Nissan
- Open Motors
- Proterra
- StreetScooter
- Tesla