Electric Light Commercial Vehicle Market – Global Forecast to 2032
전기 경상용차 시장 시장 – 차량 타입(픽업 트럭, 밴), 구동 방식(BEV, PHEV), GVWR(6,000파운드 미만, 6,001~10,000파운드), 배터리 타입(LFP, NMC 등), 배터리 용량, 항속 거리, 최종 용도 및 지역별 – 2032년
Electric Light Commercial Vehicle Market by Vehicle Type (Pickup Truck, Van), Propulsion (BEV, PHEV), GVWR (< 6,000 lbs, and 6,001 to 10,000 lbs), Battery Type (LFP, NMC, Others), Battery Capacity, Range, End Use, And Region – Global Forecast to 2032
| 조사회사 | MarketsandMarkets |
| 출판년월 | 2025년8월 |
| 페이지 수 | 286 |
| 도표 수 | 345 |
| 라이센스 | Single User License |
| 가격 | USD 9,500 |
| 구성 | 영문조사보고서 |
본 연구 보고서는 전기 상용차 시장을 차량 유형(픽업 트럭 및 밴), 추진 방식(배터리 전기차 및 플러그인 하이브리드 전기차), 배터리 유형(LFP, NMC, 솔리드 스테이트 등), 배터리 용량(최대 50kWh, 50~100kWh, 100~150kWh), 주행 거리(최대 100마일, 100~200마일, 200마일 이상), 총중량(GVWR)(6,000파운드 미만 및 6,001~10,000파운드), 최종 용도(라스트 마일 배송, 현장 서비스, 유통 서비스), 지역(중국, 아시아 태평양(중국 제외), 유럽, 북미)별로 분류합니다. 보고서의 범위는 시장 성장에 영향을 미치는 주요 요인(동력, 제약, 과제, 기회 등)에 대한 자세한 정보를 포함합니다. 주요 업계 기업에 대한 상세 분석을 통해 사업 개요, 솔루션 및 서비스, 주요 전략, 계약, 파트너십, 협정, 제품 및 서비스 출시, 인수합병, 그리고 전기 상용차 시장과 관련된 최근 동향에 대한 통찰력을 제공했습니다. 본 보고서는 전기 상용차 시장 생태계에서 떠오르는 스타트업에 대한 경쟁 분석도 다룹니다.
전기 경량 상용차 시장은 2025년에 244억 9천만 달러로 추산되며 2032년까지 2025년에서 2032년까지 25.0%의 CAGR로 1,166억 달러에 이를 것으로 예상됩니다. 이러한 급속한 확장은 배출량 감축에 대한 규제 압력, 전자 상거래 성장으로 인한 도시 물류 수요 증가, 인수 비용을 줄이는 유리한 정부 인센티브에 의해 촉진됩니다. 예를 들어, 미국과 캐나다에서는 엄격한 배출 기준(예: EPA 2027 표준)과 미국에서 최대 40,000달러, 캐나다에서 최대 146,000달러(iMHZEV)의 강력한 구매 인센티브에 의해 전기 상용 밴과 픽업의 빠른 채택이 촉진되고 있으며, 추가적인 주 및 지방 리베이트가 제공됩니다. 이는 전자 상거래 성장으로 인한 도시 물류 수요 증가로 더욱 뒷받침되어 전기 구동계로의 전환을 가속화합니다. 유럽은 독일, 프랑스, 영국, 네덜란드 등이 주도하는 주요 전기차 도입국이며, 중국은 강력한 국내 보조금과 수직 통합된 전기차 공급망의 혜택을 누리고 있습니다. 인도와 동남아시아에서는 FAME-II와 같은 정부 지원 제도와 증가하는 상업용 차량 수요에 힘입어 전기차 도입이 가속화되고 있습니다.배터리 화학(LFP/NMC)의 기술 발전, 차량 기지 내 DC 고속 충전 인프라 구축, 그리고 텔레매틱스 및 차량 관리 시스템의 통합은 전기 경차(e-LCV)의 가능성을 더욱 높여줍니다. 스텔란티스, 포드, 르노, 울링 모터스 등 주요 OEM 업체들이 생산량을 확대함에 따라, 시장은 틈새 시장에서 주류 시장으로 전환되고 있으며, 다양한 도시 및 지역 물류 수요에 맞춰 2톤 미만 소형 경차와 2~3.5톤 배송용 밴으로 세분화되고 있습니다.
조사 대상 세그먼트
- 차량 유형
- 픽업 트럭
- 밴
- 추진 방식
- 전지식 전기 자동차
- 플러그인 하이브리드 자동차
- 배터리 용량
- 50kWh 미만
- 100-150kWh
- 배터리 유형
- 인산철 리튬 이온(LFP)
- 삼원계 양극재(니켈·망간·코발트/NMC)
- 솔리드 스테이트
- 기타
- 엔드 유스
- 마일 마일 배송
- 필드 서비스
- 배송 서비스
- 차량 총중량(GVWR)
- 6,000LBS 이하
- 6,001-10,000LBS
- 항속거리
- 100마일 미만
- 100-200마일
- 200마일 초과
- 지역
- 중국
- 아시아 태평양 지역(제중국)
- 일본
- 인도
- 한국
- 유럽
- 프랑스
- 독일
- 스페인
- 오스트리아
- 노르웨이
- 스웨덴
- 네덜란드
- 영국
- 이탈리아
- 기타 유럽
- 북미
- 미국
- 캐나다
주요 기업
- Wuling Motors Holdings Limited (五菱汽車集団HD)（중국）
- Ford Motor Company (미국)
- General Motors (미국)
- Stellantis NV (네덜란드)
- Renault (프랑스)
The electric light commercial vehicle market is estimated at USD 24.49 billion in 2025 and is projected to reach USD 116.60 billion by 2032 at a CAGR of 25.0% from 2025 to 2032. This rapid expansion is driven by regulatory pressure to cut emissions, rising urban logistics demand due to e-commerce growth, and favorable government incentives that reduce acquisition costs. For instance, in the US and Canada, rapid adoption of electric commercial vans and pickups is driven by strict emission norms (e.g., EPA 2027 standards) and strong purchase incentives up to USD 40,000 in the US and up to USD 146,000 in Canada (iMHZEV), with additional state and provincial rebates. This is further supported by rising urban logistics demand due to e-commerce growth, accelerating the shift to electric drivetrains. Europe remains a key adopter, led by countries like Germany, France, the UK, and the Netherlands, while China benefits from strong domestic subsidies and vertically integrated EV supply chains. In India and Southeast Asia, adoption is gaining momentum, supported by government schemes like FAME-II and increasing commercial fleet demand, respectively. Technological advancements in battery chemistries (LFP/NMC), deployment of DC fast-charging infrastructure at fleet depots, and integration of telematics and fleet management systems further enhance the viability of e-LCVs. With major OEMs such as Stellantis, Ford, Renault, and Wuling Motors scaling production, the market is transitioning from niche to mainstream, with a precise segmentation emerging between sub-2-ton mini-LCVs and 2–3.5-ton delivery vans for diverse urban and regional logistics needs.
“Plug-in hybrid electric vehicle to be faster-growing propulsion segment than battery electric vehicle segment during forecast period”
The plug-in hybrid electric vehicle segment of the electric light commercial vehicle market is gaining traction primarily due to its operational flexibility in regions with inconsistent charging infrastructure. In April 2025, Ford announced the launch of Australia’s first plug-in hybrid van, the 2025 Ford Transit Custom PHEV, arriving in October alongside its full-electric sibling. The PHEV models are Trend LWB and Sport SWB. This plug-in hybrid model offers fleets the benefit of electric-only operation in urban low-emission zones, while retaining ICE backup for extended rural routes. Additionally, lower range anxiety in electric light commercial vehicles is a key driver for fleet adoption, especially as charging infrastructure expands and battery technologies improve. This assurance enables logistics and last-mile delivery companies to deploy eLCVs across urban and semi-urban routes without disruption, confidently.
“Up to 50 kWh to hold significant market share during forecast period”
The up to 50 kWh battery capacity segment of the electric light commercial vehicle market is primarily driven by the growing demand for compact delivery vans optimized for short-distance, intra-city logistics. These battery packs offer a cost-effective solution for urban fleets, especially in densely populated regions where daily routes are under 150 km and frequent stop-and-go driving is common. BYD (China) offers T3 light-duty electric trucks with a battery capacity of 43 kWh. The offerings of Workhorse Group (US) include its electric truck W-15 with a battery capacity of 50 kWh. Countries like India, Japan, and Indonesia are witnessing increased adoption of compact eLCVs such as Tata Ace EV and Suzuki Every EV, equipped with battery packs under 30–50 kWh, tailored for short-haul logistics and small business use. These vehicles align with government-supported electrification programs and urban mobility goals, offering lower total cost of ownership and compatibility with limited charging infrastructure, factors critical to commercial fleet operators in emerging economies.
“North America to hold second-largest market share during forecast period”
North America is home to renowned OEMs that specialize in producing high-quality and high-performance vehicles, driving the electric light commercial vehicle market. These manufacturers, including Ford Motor Company (US), GMC (US), and General Motors (US), are increasingly focusing on developing faster, cleaner, and more efficient electric light commercial vehicles. In North America, governments at both the federal and state levels are offering incentives to promote the adoption of electric vehicles, including electric light commercial vehicles. For instance, under the US Federal Commercial Clean Vehicle Credit (IRC §45W), businesses can receive up to USD 7,500 for light commercial EVs, and state programs like California’s HVIP offer up to USD 60,000 per vehicle for zero-emission vans and trucks, with tiered reductions for large fleets. These incentives include tax credits, rebates, grants, and infrastructure investments. For instance, the US federal government’s investments in charging infrastructure and tax incentives for EV purchases have stimulated growth in the electric light commercial vehicle market. The expansion of charging infrastructure is critical for the widespread adoption of electric light commercial vehicles. In North America, there has been significant investment in charging networks, including fast-charging stations along major transportation routes and in urban areas. For instance, in January 2024, the US government invested USD 623 million in charging infrastructure. In February 2024, the first public 500 kW charging station for North America was unveiled at Mercedes-Benz USA Headquarters in Sandy Springs, Georgia.
Breakup of Primaries:
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
- By Company Type: OEMs- 35%, Tier I- 41%, and Tier II & III- 24%
- By Designation: CXOs – 60%, Managers – 10%, and Executives- 30%
- By Region: China-20%, Asia Pacific (excl. China)-34%, Europe-23%, North America-18%
The electric light commercial vehicle market is dominated by major players, including Wuling Motors Holdings Limited (China), Ford Motor Company (US), General Motors (US), Stellantis NV (Netherlands), and Renault (France).
The study includes an in-depth competitive analysis of these key players in the electric light commercial vehicle market, with their company profiles, recent developments, and key market strategies.
Research Coverage:
This research report categorizes the electric light commercial vehicle market by vehicle type (pickup truck and van), propulsion (battery electric vehicle and plug-in hybrid electric vehicle), by battery type (LFP, NMC, solid-state, and others), battery capacity (up to 50 kWh, 50 to 100 kWh, and 100 to 150 kWh), range (up to 100 miles, 100 to 200 miles, and above 200 miles), by GVWR (Below 6,000 lbs and 6,001 to 10,000 lbs), end use (last-mile delivery, field services, and distribution services), and region (China, Asia Pacific (excl. China), Europe, and North America). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the market. A detailed analysis of the key industry players provided insights into their business overviews, solutions & services, key strategies, contracts, partnerships, agreements, product & service launches, mergers & acquisitions, and recent developments associated with the electric light commercial vehicle market. Competitive analysis of upcoming startups in the electric light commercial vehicle market ecosystem has been covered in this report.
Reasons to Buy this Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall electric light commercial vehicle market and the subsegments. This report will also help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. It will help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights into the following pointers:
- Analysis of key drivers (cost optimization in EV batteries enhancing profitability and adoption, Escalating fossil fuel costs driving energy transition, Surging demand for zero-emission eLVCs reshaping logistics operations, government initiatives promoting eLCV adoption), restraints (inadequate charging infrastructure and persistent range anxiety hindering market adoption, exposure to supply chain disruptions), opportunities (battery leasing and mobility-as-a-service (MaaS) models, development of wireless EV charging technology for on-the-go charging), and challenges (lack of standardization in charging protocols, low availability of lithium for EV batteries) influencing the growth of the electric light commercial vehicle market
- Product Development/Innovation: Detailed insights into upcoming technologies and research & development activities in the electric light commercial vehicle market
- Market Development: Comprehensive information about lucrative markets (the report analyses the electric light commercial vehicle market across varied regions)
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the electric light commercial vehicle market
Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, such as Wuling Motors Holdings Limited. (China), Ford Motor Company (US), General Motors (US), Stellantis NV (Netherlands), and Renault (France), in the electric light commercial vehicle market
Table of Contents
1 INTRODUCTION 27
1.1 STUDY OBJECTIVES 27
1.2 MARKET DEFINITION 28
1.3 STUDY SCOPE 30
1.3.1 MARKETS COVERED AND REGIONAL SCOPE 30
1.3.2 INCLUSIONS AND EXCLUSIONS 31
1.3.3 YEARS CONSIDERED 32
1.4 CURRENCY CONSIDERED 33
1.4.1 UNITS CONSIDERED 33
1.5 STAKEHOLDERS 33
1.6 SUMMARY OF CHANGES 34
2 RESEARCH METHODOLOGY 36
2.1 RESEARCH DATA 36
2.1.1 SECONDARY DATA 37
2.1.1.1 List of key secondary sources 38
2.1.1.2 Key data from secondary sources 39
2.1.2 PRIMARY DATA 40
2.1.2.1 Primary interviews: demand and supply sides 40
2.1.2.2 Primary interview participants 41
2.1.2.3 Objectives of primary research 41
2.2 MARKET SIZE ESTIMATION 41
2.2.1 BOTTOM-UP APPROACH 43
2.2.2 TOP-DOWN APPROACH 43
2.3 DATA TRIANGULATION 45
2.4 FACTOR ANALYSIS 47
2.4.1 DEMAND- AND SUPPLY-SIDE FACTOR ANALYSIS 47
2.5 RESEARCH ASSUMPTIONS 47
2.6 RESEARCH LIMITATIONS 48
2.7 RISK ANALYSIS 49
3 EXECUTIVE SUMMARY 50
4 PREMIUM INSIGHTS 54
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ELECTRIC LIGHT COMMERCIAL
VEHICLE MARKET 54
4.2 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE 54
4.3 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY GVWR 55
4.4 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY PROPULSION 55
4.5 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY RANGE 56
4.6 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE 56
4.7 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY 57
4.8 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY END USE 57
4.9 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY REGION 58
5 MARKET OVERVIEW 59
5.1 INTRODUCTION 59
5.2 MARKET DYNAMICS 60
5.2.1 DRIVERS 60
5.2.1.1 Cost optimization in EV batteries enhancing profitability
and adoption 60
5.2.1.2 Escalating fossil fuel costs driving energy transition 61
5.2.1.3 Surging demand for zero-emission eLCVs reshaping logistics operations 63
5.2.1.4 Government initiatives promoting eLCV adoption 63
5.2.2 RESTRAINTS 67
5.2.2.1 Inadequate charging infrastructure and persistent range anxiety hindering market adoption 67
5.2.2.2 Exposure to supply chain disruptions 68
5.2.3 OPPORTUNITIES 68
5.2.3.1 Battery leasing and mobility-as-a-service (MaaS) models 68
5.2.3.2 Development of wireless EV charging technology for on-the-go charging 69
5.2.4 CHALLENGES 70
5.2.4.1 Lack of standardization in charging protocols 70
5.2.4.2 Low availability of lithium for EV batteries 70
5.2.5 IMPACT OF MARKET DYNAMICS 71
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 72
5.4 PRICING ANALYSIS 73
5.4.1 AVERAGE SELLING PRICE TREND FOR VEHICLE TYPES,
BY KEY PLAYERS, 2024 (USD) 73
5.4.2 AVERAGE SELLING PRICE TREND, BY REGION, 2022–2024 75
5.5 ECOSYSTEM ANALYSIS 75
5.5.1 OEMS 76
5.5.2 RAW MATERIAL SUPPLIERS 76
5.5.3 TIER I SUPPLIERS 76
5.5.4 TIER II SUPPLIERS 77
5.5.5 COMPONENT MANUFACTURERS 77
5.5.6 EV CHARGING INFRASTRUCTURE PROVIDERS 77
5.6 SUPPLY CHAIN ANALYSIS 79
5.7 REGULATORY LANDSCAPE 80
5.7.1 COUNTRY-WISE REGULATIONS 80
5.7.1.1 Netherlands 80
5.7.1.2 Germany 81
5.7.1.3 France 82
5.7.1.4 UK 82
5.7.1.5 China 83
5.7.1.6 US 84
5.7.2 REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 84
5.8 KEY CONFERENCES AND EVENTS, 2025–2026 88
5.9 CASE STUDY ANALYSIS 89
5.9.1 FEDEX’S LEAP INTO SUSTAINABLE LOGISTICS 89
5.9.2 SCOTTISH WATER’S SUCCESSFUL ADOPTION OF ELECTRIC VANS 89
5.9.3 ELECTRIC VAN TRIAL FOR BUSINESSES BY KENT COUNTY COUNCIL 90
5.10 INVESTMENT AND FUNDING SCENARIO 90
5.11 PATENT ANALYSIS 92
5.11.1 INTRODUCTION 92
5.12 HS CODE (8702): ELECTRIC LIGHT COMMERCIAL VEHICLE 95
5.12.1 IMPORT SCENARIO OF ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET 95
5.12.2 EXPORT SCENARIO OF ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET 96
5.13 IMPACT OF AI/GEN AI 98
5.14 TECHNOLOGY ANALYSIS 98
5.14.1 KEY TECHNOLOGIES 98
5.14.1.1 Development in wireless charging technology 98
5.14.1.2 Vehicle-to-Everything (V2X) integration 99
5.14.2 COMPLEMENTARY TECHNOLOGIES 100
5.14.2.1 Development in solid-state batteries 100
5.14.2.2 Advanced fleet telematics systems 100
5.14.3 ADJACENT TECHNOLOGIES 100
5.14.3.1 Multi-motor configurations 100
5.15 MNM INSIGHTS ON UPCOMING VEHICLE LAUNCHES, KEY OEM INVESTMENTS,
AND TARGET FOR ELECTRIFICATION 101
5.15.1 UPCOMING VEHICLE MODEL LAUNCHES 101
5.15.2 OEM TARGETS AND INVESTMENT 101
5.16 INSIGHTS INTO OEMS’ STRATEGIES FOR ELCV PLATFORMS 102
5.17 STRATEGIC INSIGHTS INTO BATTERY SWAPPING FOR ELECTRIC PICKUP TRUCKS
AND VANS 103
5.18 BUSINESS CASE ANALYSIS FOR ELECTRIC PICKUP TRUCKS AND VANS 104
5.18.1 FLEET OWNERSHIP & OPERATIONS 104
5.18.2 FLEET-AS-A-SERVICE (FAAS) 104
5.18.3 PLATFORM AND ECOSYSTEM COLLABORATION 105
5.18.4 PAY-PER-USE MODEL 105
5.19 BILL OF MATERIALS 106
5.20 TOTAL COST OF OWNERSHIP 107
5.21 KEY PERFORMANCE COMPARISON FOR ELECTRIC LIGHT COMMERCIAL VEHICLES 108
5.21.1 RANGE/BATTERY CAPACITY 108
5.21.2 RANGE VS. END USE 108
5.21.3 BATTERY CAPACITY VS. END USE 109
5.21.4 POWER VS. CHARGING DURATION 109
5.22 KEY STAKEHOLDERS AND BUYING CRITERIA 110
5.22.1 KEY STAKEHOLDERS IN BUYING PROCESS 110
5.22.2 BUYING CRITERIA 111
6 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE 113
6.1 INTRODUCTION 114
6.2 PICKUP TRUCK 116
6.2.1 RISING DEMAND FOR DUAL-PURPOSE UTILITY VEHICLES TO DRIVE GROWTH 116
6.3 VAN 117
6.3.1 LOWER TOTAL COST OF OWNERSHIP TO DRIVE GROWTH 117
6.3.2 CARGO VAN 119
6.3.3 PASSENGER VAN 120
6.4 KEY PRIMARY INSIGHTS 120
7 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY PROPULSION 121
7.1 INTRODUCTION 122
7.2 BATTERY ELECTRIC VEHICLE 123
7.2.1 LOWER TOTAL COST OF OWNERSHIP THAN ICE AND HYBRID VEHICLES TO DRIVE GROWTH 123
7.3 PLUG-IN HYBRID ELECTRIC VEHICLE 124
7.3.1 LOWER RANGE ANXIETY AND OPERATIONAL FLEXIBILITY TO DRIVE GROWTH 124
7.4 PRIMARY INSIGHTS 125
8 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY 126
8.1 INTRODUCTION 127
8.2 UP TO 50 KWH 128
8.2.1 INCREASING ADOPTION OF COMPACT DELIVERY VANS TO DRIVE GROWTH 128
8.3 50 TO 100 KWH 129
8.3.1 SUITABILITY FOR MID-RANGE LOGISTICS AND URBAN-SUBURBAN DELIVERY OPERATIONS TO DRIVE GROWTH 129
8.4 100 TO 150 KWH 130
8.4.1 HIGH PAYLOAD APPLICATIONS TO DRIVE GROWTH 130
8.5 PRIMARY INSIGHTS 131
9 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE 132
9.1 INTRODUCTION 133
9.2 LITHIUM IRON PHOSPHATE (LFP) 134
9.2.1 HIGH ENERGY DENSITY AND FAST‑CHARGING CAPABILITIES TO DRIVE GROWTH 134
9.3 NICKEL MANGANESE COBALT (NMC) 135
9.3.1 LONG DRIVING RANGES FOR LOGISTICS AND DELIVERY TO DRIVE GROWTH 135
9.4 SOLID-STATE 136
9.4.1 LONGER LIFECYCLE THAN CONVENTIONAL LITHIUM-ION BATTERIES TO DRIVE GROWTH 136
9.5 OTHERS 137
9.6 PRIMARY INSIGHTS 138
10 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY END USE 139
10.1 INTRODUCTION 140
10.2 LAST-MILE DELIVERY 141
10.2.1 RISING DEMAND FOR VEHICLE ELECTRIFICATION IN E-COMMERCE TO DRIVE GROWTH 141
10.3 FIELD SERVICES 143
10.3.1 INCREASING DEMAND FOR GREEN MOBILITY IN FIELD SERVICES TO DRIVE GROWTH 143
10.4 DISTRIBUTION SERVICES 144
10.4.1 INCREASING RELIANCE ON DELIVERY SERVICES TO DRIVE GROWTH 144
10.5 KEY INDUSTRY INSIGHTS 145
11 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY GVWR 146
11.1 INTRODUCTION 147
11.2 BELOW 6,000 LBS 148
11.2.1 GROWING DEMAND FOR LAST-MILE DELIVERY IN URBAN AREAS TO DRIVE GROWTH 148
11.3 6,001–10,000 LBS 149
11.3.1 GROWING DEMAND FOR OPTIMAL LOAD-CARRYING CAPACITY DRIVE GROWTH 149
11.4 PRIMARY INSIGHTS 150
12 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY RANGE 151
12.1 INTRODUCTION 152
12.2 UP TO 100 MILES 153
12.2.1 INCREASING DEMAND FROM MICRO-MOBILITY LOGISTICS TO DRIVE GROWTH 153
12.3 100 TO 200 MILES 154
12.3.1 OPERATIONAL FLEXIBILITY AND COST-EFFECTIVENESS TO DRIVE GROWTH 154
12.4 ABOVE 200 MILES 155
12.4.1 INCREASING DEMAND FOR ZERO-EMISSION CARGO VANS IN EUROPE TO DRIVE GROWTH 155
12.5 PRIMARY INSIGHTS 156
13 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY REGION 157
13.1 INTRODUCTION 158
13.2 CHINA 160
13.2.1 RAPID ROLLOUT OF COST-EFFECTIVE ELCVS TO DRIVE MARKET 160
13.2.2 MACROECONOMIC OUTLOOK 161
13.3 ASIA PACIFIC (EXCL. CHINA) 164
13.3.1 MACROECONOMIC OUTLOOK 164
13.3.2 JAPAN 169
13.3.2.1 Government-led decarbonization and urban logistics innovation to drive growth 169
13.3.3 INDIA 170
13.3.3.1 Urban emission norms and government push toward clean mobility to drive growth 170
13.3.4 SOUTH KOREA 172
13.3.4.1 Targeted fleet electrification initiatives to drive growth 172
13.4 EUROPE 173
13.4.1 MACROECONOMIC OUTLOOK 173
13.4.2 FRANCE 179
13.4.2.1 Growth in e-commerce and parcel delivery to drive market 179
13.4.3 GERMANY 181
13.4.3.1 Commercial charging infrastructure development to drive growth 181
13.4.4 SPAIN 182
13.4.4.1 Government-led electrification targets and subsidies to drive growth 182
13.4.5 AUSTRIA 183
13.4.5.1 Increasing deployment of fast-charging hubs near industrial parks and logistic centers to drive growth 183
13.4.6 NORWAY 185
13.4.6.1 Zero-emission commercial transport policies to drive growth 185
13.4.7 SWEDEN 186
13.4.7.1 Government-backed green transport incentives to drive growth 186
13.4.8 NETHERLANDS 187
13.4.8.1 Stringent legislation to drive growth 187
13.4.9 UK 189
13.4.9.1 ZEV mandate to drive growth 189
13.4.10 ITALY 190
13.4.10.1 Integration of smart mobility solutions in commercial fleets to drive growth 190
13.4.11 REST OF EUROPE 191
13.5 NORTH AMERICA 193
13.5.1 MACROECONOMIC OUTLOOK 193
13.5.2 US 198
13.5.2.1 Rising adoption of electric pickup trucks to drive growth 198
13.5.3 CANADA 200
13.5.3.1 Government plans to electrify transit to drive growth 200
14 COMPETITIVE LANDSCAPE 202
14.1 OVERVIEW 202
14.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 202
14.3 MARKET SHARE ANALYSIS, 2024 204
14.4 REVENUE ANALYSIS, 2020–2024 206
14.5 COMPANY VALUATION AND FINANCIAL METRICS 207
14.5.1 COMPANY VALUATION 207
14.5.2 FINANCIAL METRICS 207
14.6 BRAND/PRODUCT COMPARISON 208
14.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024 209
14.7.1 STARS 209
14.7.2 EMERGING LEADERS 209
14.7.3 PERVASIVE PLAYERS 209
14.7.4 PARTICIPANTS 209
14.7.5 COMPANY FOOTPRINT 211
14.7.5.1 Company footprint 211
14.7.5.2 Region footprint 212
14.7.5.3 Vehicle type footprint 213
14.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024 213
14.8.1 PROGRESSIVE COMPANIES 213
14.8.2 RESPONSIVE COMPANIES 213
14.8.3 DYNAMIC COMPANIES 214
14.8.4 STARTING BLOCKS 214
14.8.5 COMPETITIVE BENCHMARKING 215
14.8.5.1 List of startups/SMEs 215
14.8.5.2 Competitive benchmarking of startups/SMEs 215
14.9 COMPETITIVE SCENARIO 216
14.9.1 PRODUCT LAUNCHES 216
14.9.2 DEALS 217
14.9.3 EXPANSIONS 219
14.9.4 OTHER DEVELOPMENTS 220
15 COMPANY PROFILES 221
15.1 KEY PLAYERS 221
15.1.1 WULING MOTORS HOLDINGS LIMITED 221
15.1.1.1 Business overview 221
15.1.1.2 Products offered 222
15.1.1.3 Recent developments 223
15.1.1.3.1 Product launches 223
15.1.1.3.2 Deals 224
15.1.1.4 MnM view 224
15.1.1.4.1 Key strengths 224
15.1.1.4.2 Strategic choices 224
15.1.1.4.3 Weaknesses and competitive threats 224
15.1.2 FORD MOTOR COMPANY 225
15.1.2.1 Business overview 225
15.1.2.2 Products offered 226
15.1.2.3 Recent developments 227
15.1.2.3.1 Product launches 227
15.1.2.3.2 Deals 227
15.1.2.3.3 Expansions 228
15.1.2.3.4 Other developments 228
15.1.2.4 MnM view 229
15.1.2.4.1 Key strengths 229
15.1.2.4.2 Strategic choices 229
15.1.2.4.3 Weaknesses and competitive threats 229
15.1.3 GENERAL MOTORS 230
15.1.3.1 Business overview 230
15.1.3.2 Chevrolet BrightDrop 230
15.1.3.3 Products offered 231
15.1.3.4 Recent developments 232
15.1.3.4.1 Deals 232
15.1.3.5 MnM view 232
15.1.3.5.1 Key strengths 232
15.1.3.5.2 Strategic choices 232
15.1.3.5.3 Weaknesses and competitive threats 232
15.1.4 STELLANTIS N.V. 233
15.1.4.1 Business overview 233
15.1.4.2 Peugeot 233
15.1.4.3 Citroën 233
15.1.4.4 Fiat Professional 233
15.1.4.5 Vauxhall 233
15.1.4.6 Ram 234
15.1.4.7 Products offered 235
15.1.4.8 Recent developments 236
15.1.4.8.1 Product launches 236
15.1.4.8.2 Deals 237
15.1.4.9 MnM view 237
15.1.4.9.1 Key strengths 237
15.1.4.9.2 Strategic choices 237
15.1.4.9.3 Weaknesses and competitive threats 237
15.1.5 RENAULT GROUP 238
15.1.5.1 Business overview 238
15.1.5.2 Products offered 239
15.1.5.3 Recent developments 240
15.1.5.3.1 Product developments 240
15.1.5.3.2 Deals 240
15.1.5.4 MnM view 241
15.1.5.4.1 Key strengths 241
15.1.5.4.2 Strategic choices 241
15.1.5.4.3 Weaknesses and competitive threats 241
15.1.6 TOYOTA MOTOR CORPORATION 242
15.1.6.1 Business overview 242
15.1.6.2 Products offered 243
15.1.6.3 Recent developments 244
15.1.6.3.1 Deals 244
15.1.6.3.2 Other developments 244
15.1.7 BYD COMPANY LTD. 245
15.1.7.1 Business overview 245
15.1.7.2 Products offered 246
15.1.7.3 Recent developments 247
15.1.7.3.1 Product launches 247
15.1.7.3.2 Deals 247
15.1.7.3.3 Expansions 247
15.1.8 NISSAN MOTOR CO., LTD. 248
15.1.8.1 Business overview 248
15.1.8.2 Products offered 249
15.1.8.3 Recent developments 250
15.1.8.3.1 Product launches 250
15.1.8.3.2 Deals 250
15.1.9 IVECO GROUP N.V. 251
15.1.9.1 Business overview 251
15.1.9.2 Products offered 252
15.1.9.3 Recent developments 253
15.1.9.3.1 Product launches 253
15.1.9.3.2 Deals 253
15.1.10 FLEXIS 254
15.1.10.1 Business overview 254
15.1.10.2 Products offered 254
15.1.10.3 Recent developments 255
15.1.10.3.1 Deals 255
15.1.11 RIVIAN 256
15.1.11.1 Business overview 256
15.1.11.2 Products offered 257
15.1.11.3 Recent developments 257
15.1.11.3.1 Product enhancements/launches 257
15.1.11.3.2 Deals 258
15.1.11.3.3 Other developments 258
15.1.12 FOTON INTERNATIONAL 259
15.1.12.1 Business overview 259
15.1.12.2 Products offered 260
15.1.12.3 Recent developments 260
15.1.12.3.1 Product launches 260
15.1.12.3.2 Deals 261
15.1.12.3.3 Other developments 261
15.1.13 TATA MOTORS LIMITED 262
15.1.13.1 Business overview 262
15.1.13.2 Products offered 263
15.1.13.3 Recent developments 263
15.1.13.3.1 Product launches 263
15.1.13.3.2 Deals 263
15.1.14 MAXUS ELECTRIC VEHICLES AND VANS 264
15.1.14.1 Business overview 264
15.1.14.2 Products offered 264
15.1.14.3 Recent developments 265
15.1.14.3.1 Product launches 265
15.1.15 MITSUBISHI FUSO TRUCK AND BUS CORPORATION 266
15.1.15.1 Business overview 266
15.1.15.2 Products offered 266
15.1.15.3 Recent developments 267
15.1.15.3.1 Deals 267
15.1.15.3.2 Other developments 267
15.2 OTHER PLAYERS 268
15.2.1 SWITCH MOBILITY 268
15.2.2 EULER MOTORS 269
15.2.3 TELO TRUCKS 270
15.2.4 OMEGA SEIKI MOBILITY 270
15.2.5 SLATE 271
15.2.6 EVUM MOTORS 272
15.2.7 ARRIVAL UK LTD. 273
15.2.8 EKA MOBILITY 273
15.2.9 NU RIDE INC. 274
15.2.10 MULLEN AUTOMOTIVE, INC. 274
15.2.11 EVAGE 275
15.2.12 QUCEV 276
15.2.13 KAIYUN MOTORS 276
16 RECOMMENDATIONS BY MARKETSANDMARKETS 277
16.1 CHINA TO BE PROMINENT MARKET FOR ELECTRIC LIGHT COMMERCIAL VEHICLES 277
16.2 6,001 TO 10,000 LBS SEGMENT TO WITNESS GROWTH DURING FORECAST PERIOD 277
16.3 INTEGRATION OF ADVANCED DRIVER ASSISTANCE SYSTEMS 277
16.4 CONCLUSION 278
17 APPENDIX 279
17.1 KEY INSIGHTS OF INDUSTRY EXPERTS 279
17.2 DISCUSSION GUIDE 279
17.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 282
17.4 CUSTOMIZATION OPTIONS 284
17.4.1 COMPANY PROFILES 284
17.4.1.1 Profiling of Additional Market Players (Up to 5) 284
17.4.2 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY PROPULSION,
AT COUNTRY LEVEL 284
17.4.3 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY GVWR,
AT COUNTRY LEVEL 284
17.5 RELATED REPORTS 284
17.6 AUTHOR DETAILS 285
LIST OF TABLES
TABLE 1 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET DEFINITION, BY PROPULSION 28
TABLE 2 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET DEFINITION, BY END USE 28
TABLE 3 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET DEFINITION, BY BATTERY TYPE 29
TABLE 4 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET DEFINITION, BY VEHICLE TYPE 29
TABLE 5 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET DEFINITION, BY GVWR 30
TABLE 6 INCLUSIONS AND EXCLUSIONS 31
TABLE 7 USD EXCHANGE RATES, 2021–2025 33
TABLE 8 ZERO-EMISSION LIGHT-DUTY VEHICLE POLICIES AND INCENTIVES
IN SELECTED COUNTRIES 64
TABLE 9 EV CHARGER DENSITY, BY KEY COUNTRIES, 2024 67
TABLE 10 LITHIUM AVAILABILITY VS. DEMAND FOR EV BATTERIES, 2020–2030 71
TABLE 11 AVERAGE SELLING PRICE TREND OF ELECTRIC VANS,
BY KEY PLAYERS, 2024 (USD) 73
TABLE 12 AVERAGE SELLING PRICE OF ELECTRIC PICKUP TRUCKS, BY KEY PLAYERS, 2024 74
TABLE 13 AVERAGE SELLING PRICE TREND, BY VEHICLE TYPE, 2022–2024 (USD) 74
TABLE 14 AVERAGE SELLING PRICE TREND, BY REGION, 2022–2024 (USD) 75
TABLE 15 ROLE OF COMPANIES IN ELECTRIC LIGHT COMMERCIAL VEHICLE
MARKET ECOSYSTEM 78
TABLE 16 NETHERLANDS: ELECTRIC VEHICLE INCENTIVES 80
TABLE 17 NETHERLANDS: ELECTRIC VEHICLE CHARGING STATION INCENTIVES 81
TABLE 18 GERMANY: ELECTRIC VEHICLE INCENTIVES 81
TABLE 19 GERMANY: ELECTRIC VEHICLE CHARGING STATION INCENTIVES 81
TABLE 20 FRANCE: ELECTRIC VEHICLE INCENTIVES 82
TABLE 21 FRANCE: ELECTRIC VEHICLE CHARGING STATION INCENTIVES 82
TABLE 22 UK: ELECTRIC VEHICLE INCENTIVES 82
TABLE 23 UK: ELECTRIC VEHICLE CHARGING STATION INCENTIVES 83
TABLE 24 CHINA: ELECTRIC VEHICLE INCENTIVES 83
TABLE 25 CHINA: ELECTRIC VEHICLE CHARGING STATION INCENTIVES 83
TABLE 26 US: ELECTRIC VEHICLE INCENTIVES 84
TABLE 27 US: ELECTRIC VEHICLE CHARGING STATION INCENTIVES 84
TABLE 28 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 84
TABLE 29 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 85
TABLE 30 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 87
TABLE 31 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 88
TABLE 32 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET: KEY CONFERENCES
AND EVENTS, 2025–2026 88
TABLE 33 LIST OF FUNDING, APRIL 2024–MARCH 2025 91
TABLE 34 PATENT REGISTRATIONS RELATED TO ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, APRIL 2024–FEBRUARY 2025 93
TABLE 35 IMPORT DATA FOR HS CODE 8702, BY COUNTRY, 2020–2024 (USD MILLION) 95
TABLE 36 EXPORT DATA FOR HS CODE 8702, BY COUNTRY, 2020–2024 (USD MILLION) 97
TABLE 37 VEHICLE MODEL EQUIPPED WITH V2X TECHNOLOGY 99
TABLE 38 UPCOMING ELECTRIC LIGHT COMMERCIAL VEHICLES, 2025–2026 101
TABLE 39 OEM TARGETS AND INVESTMENT 101
TABLE 40 OEM STRATEGIES AND EV PLATFORMS FOR ELECTRIC
LIGHT COMMERCIAL VEHICLES 102
TABLE 41 OEM INITIATIVES TOWARD BATTERY SWAPPING 103
TABLE 42 KEY ELECTRIC VANS AND PICKUP TRUCKS FOR FLEET APPLICATIONS 105
TABLE 43 ELECTRIC LIGHT COMMERCIAL VEHICLES: RANGE VS. BATTERY CAPACITY 108
TABLE 44 ELECTRIC LIGHT COMMERCIAL VEHICLES: RANGE VS. END USE 108
TABLE 45 ELECTRIC LIGHT COMMERCIAL VEHICLES: BATTERY CAPACITY VS. END USE 109
TABLE 46 ELECTRIC LIGHT COMMERCIAL VEHICLES: POWER VS. CHARGING DURATION 109
TABLE 47 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR ELECTRIC LIGHT COMMERCIAL VEHICLES, BY VEHICLE TYPE 110
TABLE 48 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2021–2024 (THOUSAND UNITS) 114
TABLE 49 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2025–2032 (THOUSAND UNITS) 115
TABLE 50 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2021–2024 (USD MILLION) 115
TABLE 51 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2025–2032 (USD MILLION) 115
TABLE 52 ELECTRIC PICKUP TRUCK MARKET, BY COUNTRY/REGION,
2021–2024 (THOUSAND UNITS) 116
TABLE 53 ELECTRIC PICKUP TRUCK MARKET, BY COUNTRY/REGION,
2025–2032 (THOUSAND UNITS) 116
TABLE 54 ELECTRIC PICKUP TRUCK MARKET, BY COUNTRY/REGION,
2021–2024 (USD MILLION) 117
TABLE 55 ELECTRIC PICKUP TRUCK MARKET, BY COUNTRY/REGION,
2025–2032 (USD MILLION) 117
TABLE 56 ELECTRIC VAN MARKET, BY COUNTRY/REGION, 2021–2024 (THOUSAND UNITS) 118
TABLE 57 ELECTRIC VAN MARKET, BY COUNTRY/REGION, 2025–2032 (THOUSAND UNITS) 118
TABLE 58 ELECTRIC VAN MARKET, BY COUNTRY/REGION, 2021–2024 (USD MILLION) 118
TABLE 59 ELECTRIC VAN MARKET, BY COUNTRY/REGION, 2025–2032 (USD MILLION) 119
TABLE 60 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY PROPULSION,
2021–2024 (THOUSAND UNITS) 122
TABLE 61 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY PROPULSION,
2025–2032 (THOUSAND UNITS) 123
TABLE 62 BATTERY ELECTRIC VEHICLE: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2021–2024 (THOUSAND UNITS) 123
TABLE 63 BATTERY ELECTRIC VEHICLE: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2025–2032 (THOUSAND UNITS) 124
TABLE 64 PLUG-IN HYBRID ELECTRIC VEHICLE: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY COUNTRY/REGION, 2021–2024 (THOUSAND UNITS) 124
TABLE 65 PLUG-IN HYBRID ELECTRIC VEHICLE: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY COUNTRY/REGION, 2025–2032 (THOUSAND UNITS) 125
TABLE 66 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY,
2021–2024 (THOUSAND UNITS) 127
TABLE 67 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY,
2025–2032 (THOUSAND UNITS) 128
TABLE 68 UP TO 50 KWH: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2021–2024 (THOUSAND UNITS) 128
TABLE 69 UP TO 50 KWH: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2025–2032 (THOUSAND UNITS) 129
TABLE 70 50 TO 100 KWH: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2021–2024 (THOUSAND UNITS) 129
TABLE 71 50 TO 100 KWH: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2025–2032 (THOUSAND UNITS) 130
TABLE 72 100 TO 150 KWH: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2021–2024 (THOUSAND UNITS) 130
TABLE 73 100 TO 150 KWH: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2025–2032 (THOUSAND UNITS) 131
TABLE 74 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE,
2021–2024 (THOUSAND UNITS) 133
TABLE 75 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE,
2025–2032 (THOUSAND UNITS) 134
TABLE 76 LFP: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY COUNTRY/REGION, 2021–2024 (THOUSAND UNITS) 134
TABLE 77 LFP: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY COUNTRY/REGION, 2025–2032 (THOUSAND UNITS) 135
TABLE 78 NMC: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY COUNTRY/REGION, 2021–2024 (THOUSAND UNITS) 136
TABLE 79 NMC: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY COUNTRY/REGION, 2025–2032 (THOUSAND UNITS) 136
TABLE 80 SOLID-STATE: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2025–2032 (THOUSAND UNITS) 137
TABLE 81 OTHERS: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2021–2024 (THOUSAND UNITS) 137
TABLE 82 OTHERS: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2025–2032 (THOUSAND UNITS) 138
TABLE 83 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY END USE,
2021–2024 (THOUSAND UNITS) 140
TABLE 84 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY END USE,
2025–2032 (THOUSAND UNITS) 141
TABLE 85 LAST-MILE DELIVERY: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2021–2024 (THOUSAND UNITS) 142
TABLE 86 LAST-MILE DELIVERY: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2025–2032 (THOUSAND UNITS) 142
TABLE 87 FIELD SERVICES: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2021–2024 (THOUSAND UNITS) 143
TABLE 88 FIELD SERVICES: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2025–2032 (THOUSAND UNITS) 143
TABLE 89 DISTRIBUTION SERVICES: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2021–2024 (THOUSAND UNITS) 144
TABLE 90 DISTRIBUTION SERVICES: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2025–2032 (THOUSAND UNITS) 145
TABLE 91 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY GVWR,
2021–2024 (THOUSAND UNITS) 147
TABLE 92 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY GVWR,
2025–2032 (THOUSAND UNITS) 148
TABLE 93 BELOW 6,000 LBS ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2021–2024 (THOUSAND UNITS) 148
TABLE 94 BELOW 6,000 LBS ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2025–2032 (THOUSAND UNITS) 149
TABLE 95 6,001–10,000 LBS ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2021–2024 (THOUSAND UNITS) 149
TABLE 96 6,001–10,000 LBS ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2025–2032 (THOUSAND UNITS) 150
TABLE 97 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY RANGE,
2021–2024 (THOUSAND UNITS) 152
TABLE 98 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY RANGE,
2025–2032 (THOUSAND UNITS) 153
TABLE 99 UP TO 100 MILES: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2021–2024 (THOUSAND UNITS) 153
TABLE 100 UP TO 100 MILES: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2025–2032 (THOUSAND UNITS) 154
TABLE 101 100 TO 200 MILES: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2021–2024 (THOUSAND UNITS) 154
TABLE 102 100 TO 200 MILES: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2025–2032 (THOUSAND UNITS) 155
TABLE 103 ABOVE 200 MILES: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2021–2024 (THOUSAND UNITS) 156
TABLE 104 ABOVE 200 MILES: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY/REGION, 2025–2032 (THOUSAND UNITS) 156
TABLE 105 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY COUNTRY/REGION,
2021–2024 (THOUSAND UNITS) 159
TABLE 106 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY COUNTRY/REGION,
2025–2032 (THOUSAND UNITS) 159
TABLE 107 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY COUNTRY/REGION,
2021–2024 (USD MILLION) 160
TABLE 108 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY COUNTRY/REGION,
2025–2032 (USD MILLION) 160
TABLE 109 CHINA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2021–2024 (THOUSAND UNITS) 163
TABLE 110 CHINA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2025–2032 (THOUSAND UNITS) 163
TABLE 111 CHINA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2021–2024 (USD MILLION) 163
TABLE 112 CHINA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2025–2032 (USD MILLION) 163
TABLE 113 ASIA PACIFIC (EXCL. CHINA): ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY, 2021–2024 (THOUSAND UNITS) 168
TABLE 114 ASIA PACIFIC (EXCL. CHINA): ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY, 2025–2032 (THOUSAND UNITS) 168
TABLE 115 ASIA PACIFIC (EXCL. CHINA): ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY, 2021–2024 (USD MILLION) 168
TABLE 116 ASIA PACIFIC (EXCL. CHINA): ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY, 2025–2032 (USD MILLION) 168
TABLE 117 JAPAN: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2021–2024 (THOUSAND UNITS) 169
TABLE 118 JAPAN: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE, 2025–2032 (THOUSAND UNITS) 169
TABLE 119 JAPAN: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (USD MILLION) 170
TABLE 120 JAPAN: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (USD MILLION) 170
TABLE 121 INDIA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (THOUSAND UNITS) 171
TABLE 122 INDIA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (THOUSAND UNITS) 171
TABLE 123 INDIA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (USD MILLION) 171
TABLE 124 INDIA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (USD MILLION) 171
TABLE 125 SOUTH KOREA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (THOUSAND UNITS) 172
TABLE 126 SOUTH KOREA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (THOUSAND UNITS) 172
TABLE 127 SOUTH KOREA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (USD MILLION) 172
TABLE 128 SOUTH KOREA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (USD MILLION) 173
TABLE 129 EUROPE: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY, 2021–2024 (THOUSAND UNITS) 177
TABLE 130 EUROPE: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY, 2025–2032 (THOUSAND UNITS) 178
TABLE 131 EUROPE: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY, 2021–2024 (USD MILLION) 178
TABLE 132 EUROPE: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY, 2025–2032 (USD MILLION) 179
TABLE 133 FRANCE: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (THOUSAND UNITS) 180
TABLE 134 FRANCE: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (THOUSAND UNITS) 180
TABLE 135 FRANCE: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (USD MILLION) 180
TABLE 136 FRANCE: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (USD MILLION) 180
TABLE 137 GERMANY: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (THOUSAND UNITS) 181
TABLE 138 GERMANY: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (THOUSAND UNITS) 181
TABLE 139 GERMANY: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (USD MILLION) 181
TABLE 140 GERMANY: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (USD MILLION) 182
TABLE 141 SPAIN: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (THOUSAND UNITS) 182
TABLE 142 SPAIN: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (THOUSAND UNITS) 182
TABLE 143 SPAIN: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (USD MILLION) 183
TABLE 144 SPAIN: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (USD MILLION) 183
TABLE 145 AUSTRIA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (THOUSAND UNITS) 184
TABLE 146 AUSTRIA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (THOUSAND UNITS) 184
TABLE 147 AUSTRIA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (USD MILLION) 184
TABLE 148 AUSTRIA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (USD MILLION) 184
TABLE 149 NORWAY: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (THOUSAND UNITS) 185
TABLE 150 NORWAY: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (THOUSAND UNITS) 185
TABLE 151 NORWAY: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (USD MILLION) 185
TABLE 152 NORWAY: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (USD MILLION) 186
TABLE 153 SWEDEN: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (THOUSAND UNITS) 186
TABLE 154 SWEDEN: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (THOUSAND UNITS) 187
TABLE 155 SWEDEN: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (USD MILLION) 187
TABLE 156 SWEDEN: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (USD MILLION) 187
TABLE 157 NETHERLANDS: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (THOUSAND UNITS) 188
TABLE 158 NETHERLANDS: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (THOUSAND UNITS) 188
TABLE 159 NETHERLANDS: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (USD MILLION) 188
TABLE 160 NETHERLANDS: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (USD MILLION) 188
TABLE 161 UK: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (THOUSAND UNITS) 189
TABLE 162 UK: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (THOUSAND UNITS) 189
TABLE 163 UK: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (USD MILLION) 189
TABLE 164 UK: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (USD MILLION) 190
TABLE 165 ITALY: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (THOUSAND UNITS) 190
TABLE 166 ITALY: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (THOUSAND UNITS) 191
TABLE 167 ITALY: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (USD MILLION) 191
TABLE 168 ITALY: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (USD MILLION) 191
TABLE 169 REST OF EUROPE: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (THOUSAND UNITS) 192
TABLE 170 REST OF EUROPE: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (THOUSAND UNITS) 192
TABLE 171 REST OF EUROPE: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (USD MILLION) 192
TABLE 172 REST OF EUROPE: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (USD MILLION) 192
TABLE 173 NORTH AMERICA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY, 2021–2024 (THOUSAND UNITS) 196
TABLE 174 NORTH AMERICA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY, 2025–2032 (THOUSAND UNITS) 196
TABLE 175 NORTH AMERICA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY, 2021–2024 (USD MILLION) 197
TABLE 176 NORTH AMERICA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY, 2025–2032 (USD MILLION) 197
TABLE 177 US: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2021–2024 (THOUSAND UNITS) 198
TABLE 178 US: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2025–2032 (THOUSAND UNITS) 199
TABLE 179 US: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2021–2024 (USD MILLION) 199
TABLE 180 US: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2025–2032 (USD MILLION) 199
TABLE 181 CANADA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (THOUSAND UNITS) 200
TABLE 182 CANADA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (THOUSAND UNITS) 200
TABLE 183 CANADA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2021–2024 (USD MILLION) 200
TABLE 184 CANADA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025–2032 (USD MILLION) 201
TABLE 185 KEY PLAYER STRATEGIES/RIGHT TO WIN, JANUARY 2021–JUNE 2025 203
TABLE 186 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET SHARE OF TOP 5 PLAYERS, 2024 204
TABLE 187 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET: REGION FOOTPRINT, 2024 212
TABLE 188 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET: VEHICLE TYPE FOOTPRINT, 2024 213
TABLE 189 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET: LIST OF STARTUPS/SMES 215
TABLE 190 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET: COMPETITIVE BENCHMARKING OF STARTUPS/SMES 215
TABLE 191 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET: PRODUCT LAUNCHES,
JANUARY 2021–JUNE 2025 216
TABLE 192 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET: DEALS,
JANUARY 2021–JULY 2025 217
TABLE 193 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET: EXPANSIONS,
JANUARY 2021–JULY 2025 219
TABLE 194 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET: OTHER DEVELOPMENTS, JANUARY 2021–JULY 2025 220
TABLE 195 WULING MOTORS HOLDINGS LIMITED: COMPANY OVERVIEW 221
TABLE 196 WULING MOTORS HOLDINGS LIMITED: PRODUCTS OFFERED 222
TABLE 197 WULING MOTORS HOLDINGS LIMITED: PRODUCT LAUNCHES 223
TABLE 198 WULING MOTORS HOLDINGS LIMITED: DEALS 224
TABLE 199 FORD MOTOR COMPANY: COMPANY OVERVIEW 225
TABLE 200 FORD MOTOR COMPANY: PRODUCTS OFFERED 226
TABLE 201 FORD MOTOR COMPANY: PRODUCT LAUNCHES 227
TABLE 202 FORD MOTOR COMPANY: DEALS 227
TABLE 203 FORD MOTOR COMPANY: EXPANSIONS 228
TABLE 204 FORD MOTOR COMPANY: OTHER DEVELOPMENTS 228
TABLE 205 GENERAL MOTORS: COMPANY OVERVIEW 230
TABLE 206 GENERAL MOTORS: PRODUCTS OFFERED 231
TABLE 207 GENERAL MOTORS: DEALS 232
TABLE 208 STELLANTIS N.V.: COMPANY OVERVIEW 234
TABLE 209 STELLANTIS N.V.: PRODUCTS OFFERED 235
TABLE 210 STELLANTIS N.V.: PRODUCT LAUNCHES 236
TABLE 211 STELLANTIS N.V.: DEALS 237
TABLE 212 RENAULT GROUP: COMPANY OVERVIEW 238
TABLE 213 RENAULT GROUP: PRODUCTS OFFERED 239
TABLE 214 RENAULT GROUP: PRODUCT DEVELOPMENTS 240
TABLE 215 RENAULT GROUP: DEALS 240
TABLE 216 TOYOTA MOTOR CORPORATION: COMPANY OVERVIEW 242
TABLE 217 TOYOTA MOTOR CORPORATION: PRODUCTS OFFERED 243
TABLE 218 TOYOTA MOTOR CORPORATION: DEALS 244
TABLE 219 TOYOTA MOTOR CORPORATION: OTHER DEVELOPMENTS 244
TABLE 220 BYD COMPANY LTD.: COMPANY OVERVIEW 245
TABLE 221 BYD COMPANY LTD.: PRODUCTS OFFERED 246
TABLE 222 BYD COMPANY LTD.: PRODUCT LAUNCHES 247
TABLE 223 BYD COMPANY LTD.: DEALS 247
TABLE 224 BYD COMPANY LTD.: EXPANSIONS 247
TABLE 225 NISSAN MOTOR CO., LTD.: COMPANY OVERVIEW 248
TABLE 226 NISSAN MOTOR CO., LTD.: PRODUCTS OFFERED 249
TABLE 227 NISSAN MOTOR CO., LTD.: PRODUCT LAUNCHES 250
TABLE 228 NISSAN MOTOR CO., LTD.: DEALS 250
TABLE 229 IVECO GROUP N.V.: COMPANY OVERVIEW 251
TABLE 230 IVECO GROUP N.V.: PRODUCTS OFFERED 252
TABLE 231 IVECO GROUP N.V.: PRODUCT LAUNCHES 253
TABLE 232 IVECO GROUP N.V.: DEALS 253
TABLE 233 FLEXIS: COMPANY OVERVIEW 254
TABLE 234 FLEXIS: PRODUCTS OFFERED 254
TABLE 235 FLEXIS: DEALS 255
TABLE 236 RIVIAN: COMPANY OVERVIEW 256
TABLE 237 RIVIAN: PRODUCTS OFFERED 257
TABLE 238 RIVIAN: PRODUCT ENHANCEMENTS/LAUNCHES 257
TABLE 239 RIVIAN: DEALS 258
TABLE 240 RIVIAN: OTHER DEVELOPMENTS 258
TABLE 241 FOTON INTERNATIONAL: COMPANY OVERVIEW 259
TABLE 242 FOTON INTERNATIONAL: PRODUCTS OFFERED 260
TABLE 243 FOTON INTERNATIONAL: PRODUCT LAUNCHES 260
TABLE 244 FOTON INTERNATIONAL: DEALS 261
TABLE 245 FOTON INTERNATIONAL: OTHER DEVELOPMENTS 261
TABLE 246 TATA MOTORS LIMITED: COMPANY OVERVIEW 262
TABLE 247 TATA MOTORS LIMITED: PRODUCTS OFFERED 263
TABLE 248 TATA MOTORS LIMITED: PRODUCT LAUNCHES 263
TABLE 249 TATA MOTORS LIMITED: DEALS 263
TABLE 250 MAXUS ELECTRIC VEHICLES AND VANS: COMPANY OVERVIEW 264
TABLE 251 MAXUS ELECTRIC VEHICLES AND VANS: PRODUCTS OFFERED 264
TABLE 252 MAXUS ELECTRIC VEHICLES AND VANS: PRODUCT LAUNCHES 265
TABLE 253 MITSUBISHI FUSO TRUCK AND BUS CORPORATION: COMPANY OVERVIEW 266
TABLE 254 MITSUBISHI FUSO TRUCK AND BUS CORPORATION: PRODUCTS OFFERED 266
TABLE 255 MITSUBISHI FUSO TRUCK AND BUS CORPORATION: DEALS 267
TABLE 256 MITSUBISHI FUSO TRUCK AND BUS CORPORATION: OTHER DEVELOPMENTS 267
TABLE 257 SWITCH MOBILITY: COMPANY OVERVIEW 268
TABLE 258 EULER MOTORS: COMPANY OVERVIEW 269
TABLE 259 TELO TRUCKS: COMPANY OVERVIEW 270
TABLE 260 OMEGA SEIKI MOBILITY: COMPANY OVERVIEW 270
TABLE 261 SLATE: COMPANY OVERVIEW 271
TABLE 262 EVUM MOTORS: COMPANY OVERVIEW 272
TABLE 263 ARRIVAL UK LTD.: COMPANY OVERVIEW 273
TABLE 264 EKA MOBILITY: COMPANY OVERVIEW 273
TABLE 265 NU RIDE INC.: COMPANY OVERVIEW 274
TABLE 266 MULLEN AUTOMOTIVE, INC.: COMPANY OVERVIEW 274
TABLE 267 EVAGE: COMPANY OVERVIEW 275
TABLE 268 QUCEV: COMPANY OVERVIEW 276
TABLE 269 KAIYUN MOTORS: COMPANY OVERVIEW 276
LIST OF FIGURES
FIGURE 1 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET SEGMENTATION 30
FIGURE 2 RESEARCH DESIGN 36
FIGURE 3 RESEARCH DESIGN MODEL 37
FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS 40
FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING 42
FIGURE 6 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET: BOTTOM-UP APPROACH 43
FIGURE 7 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET: TOP-DOWN APPROACH 44
FIGURE 8 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET ESTIMATION NOTES 44
FIGURE 9 DATA TRIANGULATION 45
FIGURE 10 MARKET GROWTH PROJECTIONS FROM DEMAND-SIDE DRIVERS 46
FIGURE 11 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET OVERVIEW 51
FIGURE 12 CHINA TO HOLD PROMINENT MARKET SHARE IN 2032 52
FIGURE 13 ELECTRIC VAN SEGMENT TO HOLD DOMINANT MARKET SHARE IN 2032 52
FIGURE 14 6,001 TO 10,000 LBS TO GROW AT HIGHER CAGR THAN BELOW 6,000 LBS DURING FORECAST PERIOD 53
FIGURE 15 RISING DEMAND FOR ELECTRIC VANS IN CHINA TO DRIVE MARKET 54
FIGURE 16 ELECTRIC VAN SEGMENT TO HOLD DOMINANT MARKET SHARE IN 2032 54
FIGURE 17 6,001-10,000 LBS TO BE DOMINANT SEGMENT DURING FORECAST PERIOD 55
FIGURE 18 BATTERY ELECTRIC VEHICLE SEGMENT TO SECURE LEADING POSITION DURING FORECAST PERIOD 55
FIGURE 19 UP TO 100 MILES SEGMENT TO GROW AT HIGHEST CAGR DURING
FORECAST PERIOD 56
FIGURE 20 LFP BATTERIES TO DOMINATE MARKET IN 2032 56
FIGURE 21 50 TO 100 KWH SEGMENT TO GROW AT HIGHEST CAGR DURING
FORECAST PERIOD 57
FIGURE 22 LAST-MILE DELIVERY SEGMENT TO HOLD LARGEST MARKET SHARE IN 2032 57
FIGURE 23 EUROPE TO BE FASTEST-GROWING ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET DURING FORECAST PERIOD 58
FIGURE 24 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET 60
FIGURE 25 PRICE TRENDS OF SELECTED BATTERY METALS AND LITHIUM-ION
BATTERY PACK, 2020–2025 61
FIGURE 26 AVERAGE GLOBAL PETROL PRICES, 2001 VS. 2011 VS. 2024 VS. 2025 62
FIGURE 27 OPERATING COST COMPARISON OF ELECTRIC AND ICE VEHICLES 62
FIGURE 28 GLOBAL ELECTRIFICATION TARGETS, 2025–2050 66
FIGURE 29 PRIVATE, SEMI-PUBLIC, AND PUBLIC CHARGING OWNERSHIP 68
FIGURE 30 BATTERY-LEASING SERVICE MODEL FOR LIGHT-DUTY COMMERCIAL VEHICLES 69
FIGURE 31 WIRELESS CHARGING FOR ELECTRIC PICKUP TRUCKS 70
FIGURE 32 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET: TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 72
FIGURE 33 AVERAGE SELLING PRICE TREND, BY VEHICLE TYPE, 2022–2024 (USD) 74
FIGURE 34 AVERAGE SELLING PRICE TREND, BY REGION, 2022–2024 (USD) 75
FIGURE 35 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET ECOSYSTEM 76
FIGURE 36 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET MAP 77
FIGURE 37 SUPPLY CHAIN ANALYSIS OF ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET 79
FIGURE 38 INVESTMENT SCENARIO, JANUARY 2022–JULY 2025 90
FIGURE 39 PATENT ANALYSIS, JANUARY 2015–JULY 2025 92
FIGURE 40 IMPORT DATA FOR HS CODE 8702, BY COUNTRY, 2020–2024 (USD MILLION) 96
FIGURE 41 EXPORT DATA FOR HS CODE 8702, BY COUNTRY, 2020–2024 (USD MILLION) 97
FIGURE 42 ELECTRIC VAN EQUIPPED WITH WIRELESS CHARGING TECHNOLOGY 99
FIGURE 43 BILL OF MATERIALS: ELECTRIC LIGHT COMMERCIAL VEHICLES 106
FIGURE 44 BILL OF MATERIALS: BATTERY VS. NON-BATTERY COMPONENTS (USD) 106
FIGURE 45 TOTAL COST OF OWNERSHIP: FORD ELECTRIC TRANSIT VS. ICE
TRANSIT 3.5-TON MODELS 107
FIGURE 46 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR ELECTRIC LIGHT COMMERCIAL VEHICLES, BY VEHICLE TYPE 110
FIGURE 47 KEY BUYING CRITERIA FOR ELECTRIC LIGHT COMMERCIAL VEHICLE TYPES 111
FIGURE 48 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY VEHICLE TYPE,
2025 VS. 2032 (USD MILLION) 114
FIGURE 49 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY PROPULSION,
2025–2032 (THOUSAND UNITS) 122
FIGURE 50 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY BATTERY CAPACITY,
2025–2032 (THOUSAND UNITS) 127
FIGURE 51 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY BATTERY TYPE,
2025–2032 (THOUSAND UNITS) 133
FIGURE 52 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY END USE,
2025 VS. 2032 (THOUSAND UNITS) 140
FIGURE 53 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY GVWR,
2025–2032 (THOUSAND UNITS) 147
FIGURE 54 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY RANGE,
2025–2032 (THOUSAND UNITS) 152
FIGURE 55 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET, BY REGION,
2025 VS. 2032 (USD MILLION) 159
FIGURE 56 CHINA: REAL GDP GROWTH RATE, 2024–2026 161
FIGURE 57 CHINA: GDP PER CAPITA, 2024–2026 161
FIGURE 58 CHINA: INFLATION RATE AVERAGE CONSUMER PRICES, 2024–2026 162
FIGURE 59 CHINA: MANUFACTURING INDUSTRY’S CONTRIBUTION TO GDP, 2024 162
FIGURE 60 CHINA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY VEHICLE TYPE, 2025 VS. 2032 162
FIGURE 61 ASIA PACIFIC (EXCL. CHINA): REAL GDP GROWTH RATE, BY COUNTRY, 2024–2026 165
FIGURE 62 ASIA PACIFIC (EXCL. CHINA): GDP PER CAPITA, BY COUNTRY, 2024–2026 165
FIGURE 63 ASIA PACIFIC (EXCL. CHINA): INFLATION RATE AVERAGE CONSUMER PRICES,
BY COUNTRY, 2024–2026 166
FIGURE 64 ASIA PACIFIC (EXCL. CHINA): MANUFACTURING INDUSTRY’S CONTRIBUTION
TO GDP, 2024 166
FIGURE 65 ASIA PACIFIC (EXCL. CHINA): ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET SNAPSHOT 167
FIGURE 66 EUROPE: REAL GDP GROWTH RATE, BY COUNTRY, 2024–2026 174
FIGURE 67 EUROPE: GDP PER CAPITA, BY COUNTRY, 2024–2026 175
FIGURE 68 EUROPE: INFLATION RATE AVERAGE CONSUMER PRICES,
BY COUNTRY, 2024–2026 175
FIGURE 69 EUROPE: MANUFACTURING INDUSTRY’S CONTRIBUTION TO GDP, 2024 175
FIGURE 70 EUROPE: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET,
BY COUNTRY, 2025 VS. 2032 (USD MILLION) 177
FIGURE 71 NORTH AMERICA: REAL GDP GROWTH RATE, BY COUNTRY, 2024–2026 194
FIGURE 72 NORTH AMERICA: GDP PER CAPITA, BY COUNTRY, 2024–2026 195
FIGURE 73 NORTH AMERICA: CPI INFLATION RATE, BY COUNTRY, 2024–2026 195
FIGURE 74 NORTH AMERICA: MANUFACTURING INDUSTRY’S CONTRIBUTION TO GDP, 2024 195
FIGURE 75 NORTH AMERICA: ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET SNAPSHOT 196
FIGURE 76 US: ELECTRIC LIGHT COMMERCIAL VEHICLE DEMAND, BY END USER 198
FIGURE 77 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET SHARE ANALYSIS, 2024 205
FIGURE 78 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET: REVENUE ANALYSIS
OF TOP LISTED PLAYERS, 2020–2024 206
FIGURE 79 COMPANY VALUATION OF KEY PLAYERS, JULY 2025 (USD BILLION) 207
FIGURE 80 FINANCIAL METRICS OF KEY PLAYERS, JULY 2025 (EV/EBITDA) 207
FIGURE 81 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET: BRAND/PRODUCT COMPARISON 208
FIGURE 82 COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024 210
FIGURE 83 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET: COMPANY FOOTPRINT, 2024 211
FIGURE 84 ELECTRIC LIGHT COMMERCIAL VEHICLE MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024 214
FIGURE 85 WULING MOTORS HOLDINGS LIMITED: COMPANY SNAPSHOT 222
FIGURE 86 FORD MOTOR COMPANY: COMPANY SNAPSHOT 226
FIGURE 87 GENERAL MOTORS: COMPANY SNAPSHOT 231
FIGURE 88 STELLANTIS N.V.: COMPANY SNAPSHOT 234
FIGURE 89 RENAULT GROUP: COMPANY SNAPSHOT 239
FIGURE 90 TOYOTA MOTOR CORPORATION: COMPANY SNAPSHOT 243
FIGURE 91 BYD COMPANY LTD.: COMPANY SNAPSHOT 246
FIGURE 92 NISSAN MOTOR CO., LTD.: COMPANY SNAPSHOT 249
FIGURE 93 IVECO GROUP N.V.: COMPANY SNAPSHOT 252
FIGURE 94 RIVIAN: COMPANY SNAPSHOT 256
FIGURE 95 FOTON INTERNATIONAL: COMPANY SNAPSHOT 259
FIGURE 96 TATA MOTORS LIMITED: COMPANY SNAPSHOT 262
