What is Electric Logistics Vehicle Market?
In recent times, electric vehicles are becoming more popular for various applications as more and more industries are focusing on the reduction of GHG emissions. It is widely adopted in the logistics industry with the aim of to reduce emissions throughout the supply chain and increasing demand for fast & cheap shipping. The high growth of third-party logistics providers due to increasing consumers’ preference towards online shopping and outsourcing of logistics services by the industries will accelerate the market growth.
Highlights from Electric Logistics Vehicle Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | BYD Auto (China), The Mercedes-Benz Group AG (Germany), SAIC Motor (China), BAIC Group (China), Volvo (Sweden), Nissan (Japan), StreetScooter GmbH (Germany), Groupe Renault (France), Dongfeng Motor Corporation (China), Electric Last Mile (United States), Lordstown Motors (United States), Workhorse (United States) and Tata Motors (India) |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new mobility solutions, which is likely to encourage the growth of the global market throughout the forecast period.
BYD Auto (China), The Mercedes-Benz Group AG (Germany), SAIC Motor (China), BAIC Group (China), Volvo (Sweden), Nissan (Japan), StreetScooter GmbH (Germany), Groupe Renault (France), Dongfeng Motor Corporation (China), Electric Last Mile (United States), Lordstown Motors (United States), Workhorse (United States) and Tata Motors (India) are some of the key players profiled in the study. Electric Logistics Vehicle Market Segmentation:
Scope | Sub-Segments |
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Type | Light Electric Vehicles and Heavy Electric Vehicles |
Battery Type | Lead-Acid,Lithium-Ion |
End User | Transportation & Logistics,Government,Retail & E-Commerce,Food & Beverages,Others |
On the basis of geography, the market of Electric Logistics Vehicle has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emerging Trend of Micro Carrier in Logistics to Overcome traffic Issues
Market Growth Drivers:
Increasing Investment in the Electric Fleets by the Third-party Logistic Companies and Increasing Government Initiatives Towards the Adoption of EVs to Reduce the GHG Emission
Challenges:
Range Issue of Electric Vehicles May Limit the Adoption in the Logistic Industry
Restraints:
Less Acceptance Due to Inadequate EV Charging Infrastructure Facilities and High Cost of Micro Vehicles
Opportunities:
Declination of Average Length-of-Haul Will Create Significant Opportunities
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Electric Logistics Vehicle Manufacturers, Raw Material Providers, Automotive Manufacturers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End Users and Others
Market Leaders & Development Strategies
In October 2021, BYD Auto collaborated with Levo Mobility LLC, a joint venture of Nuvve Holding Corp. to deploy medium and heavy-duty battery-electric vehicles to accelerate and transform the transportation sector. With this deal, BYD will leverage Nuvve’s V2G technology and high-powered bidirectional charging stations and accelerate the reduction of harmful CO2 emissions.
The Southeast Coast and Southeast Asian Markets are Radiated by SAIC's New Passenger Vehicle Base, which is Located in Ningde, Fujian and Features Own Brand and New Energy Vehicles