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Industrial Electric Vehicles Market By Type (Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), Plug-in Hybrid Electric Vehicles (PHEV)) By Vehicle Type (Two-wheelers, Passenger Cars, Commercial Vehicles) – Growth, Share, Opportunities & Competitive Analysis, 2015 – 2027

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Market Insights

The industrial electric vehicles market is expected to cross-market value of USD 800.71 billion in 2027 from USD 165.21 billion in 2020. It is expected to grow at a CAGR of over 30.1% during the forecast period.

Electric vehicles outperform traditional vehicles in fuel economy, carbon emissions, and maintenance, as well as the ease of charging at home, a smoother ride, and reduced engine noise. Due to various technological advances, electric vehicles have grown in popularity. Battery, hybrid, and plug-in hybrid electric vehicles are the three types of electric vehicles. Furthermore, electric vehicles do not need engine oil adjustments, but they are significantly more costly than their gasoline counterparts. Credence Research is offering holistic information and absolute accuracy in the report titled “Global Industrial Electric Vehicles Market.”

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Key Market Drivers and Restraints

Factors that greatly impact the market growth of industrial electric vehicles will be covered here. Also, covers factors that may challenge or act as an opportunity for the market will be discussed to identify revenue generation.

High demand for high-performance, fuel-efficient, and low-emission vehicles

Since gasoline is a fossil fuel, it is not a renewable source of energy and will eventually run out. Therefore, alternative fuel sources must be developed and used to promote sustainable growth. This entails the use of electric vehicles, which do not require the use of gasoline and are more cost-effective than traditional vehicles. An electric vehicle converts half of the electrical energy from the grid to power at the wheels, while a gas-powered vehicle converts just about 17%–21% of the energy stored in fuel to power at the wheels. Due to the recent increase in the price of gasoline and diesel, the demand for fuel-efficient vehicles has risen. As a result of these factors, there is a growing demand for advanced fuel-efficient technology, increasing demand for electric vehicles for travel.

North America to dominate the global Industrial Electric Vehicles market

On the geographic front, the global industrial electric vehicles market comprises six regions with all key economies pertaining to it. Credence Research provides in-depth insight into prominent global industrial electric vehicles market regions. North America dominated with over 27.5% share in 2020.

The PHEV leads global Industrial Electric Vehicles Market

Based on vehicle type, the market is bifurcated into Plug-in Hybrid Electric Vehicles (PHEV), Battery Electric Vehicles (BEV), and Hybrid Electric Vehicles (HEV). In 2020, PHEV had the highest market share 2020, owing to the reduced prices of these vehicles.

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Passenger Cars continue to dominate the vehicle type of the global market

Passenger Cars, Two-wheelers, and Commercial Vehicles are some of the vehicle types in this market. The Commercial Vehicle is anticipated to experience high growth during the forecast period owing to rising innovations in the battery of EVs to improve the vehicle’s load capacity.

1.Preface

1.1.Report Description
1.1.1.Purpose of the Report
1.1.2.Target Audience
1.1.3.USP and Key Offerings
1.2.Research Scope
1.3.Research Methodology
1.3.1.Phase I – Secondary Research
1.3.2.Phase II – Primary Research
1.3.3.Phase III – Expert Panel Review
1.3.4.Approach Adopted
1.3.4.1.Top-Down Approach
1.3.4.2.Bottom-Up Approach
1.3.5.Assumptions
1.4.Market Segmentation

2.Executive Summary

2.1.Market Snapshot: Global Industrial Electric Vehicles Market

3.Market Dynamics

3.1.Introduction
3.1.1. Global Industrial Electric Vehicles Market Value, 2015-2027, (US$ Bn)
3.2.Market Dynamics
3.2.1.Key Growth Trends
3.2.2.Major Industry Challenges
3.2.3.Key Growth Pockets
3.3.Attractive Investment Proposition, 2020
3.3.1.Type
3.3.2.Vehicle Type
3.3.3.Geography

4.Market Positioning of Key Players, 2020

4.1.Company market share of key players, 2020
4.2.Top 6 Players
4.3.Top 3 Players
4.4.Major Strategies Adopted by Key Players

5.COVID 19 Impact Analysis

5.1.Global Industrial Electric Vehicles Market Pre Vs Post COVID 19, 2019 – 2027
5.2.Impact on Import & Export
5.3.Impact on Demand & Supply

6.North America

6.1.North America Industrial Electric Vehicles Market, by Country, 2015-2027 (US$ Bn)
6.1.1.U.S.
6.1.2.Canada
6.1.3.Mexico
6.2.North America Industrial Electric Vehicles Market, by Type of Metal Extracted, 2015-2027 (US$ Bn)
6.2.1.Overview
6.2.2.Copper
6.2.3.Iron
6.2.4.Gold
6.2.5.Zinc
6.2.6.Cobalt
6.2.7.Others
6.3.North America Industrial Electric Vehicles Market, By Type, 2015-2027 (US$ Bn)
6.3.1.Overview
6.3.2.Battery Electric Vehicles (BEV)
6.3.3.Hybrid Electric Vehicles (HEV)
6.3.4.Plug-in Hybrid Electric Vehicles (PHEV))
6.4.North America Industrial Electric Vehicles Market, by Vehicle Type, 2015-2027 (US$ Bn)
6.4.1.Overview
6.4.2.Two-wheelers
6.4.3.Passenger Cars
6.4.4.Commercial Vehicles

7.Europe

7.1.Europe Industrial Electric Vehicles Market, by Country, 2015-2027 (US$ Bn)
7.1.1.UK
7.1.2.France
7.1.3.Germany
7.1.4.Italy
7.1.5.Russia
7.1.6.Spain
7.1.7.Belgium
7.1.8.Netherland
7.1.9.Austria
7.1.10.Sweden
7.1.11.Poland
7.1.12.Denmark
7.1.13.Switzerland
7.1.14.Rest of Europe
7.2.Europe Industrial Electric Vehicles Market, By Type, 2015-2027 (US$ Bn)
7.2.1.Overview
7.2.2.Battery Electric Vehicles (BEV)
7.2.3.Hybrid Electric Vehicles (HEV)
7.2.4.Plug-in Hybrid Electric Vehicles (PHEV))
7.3.Europe Industrial Electric Vehicles Market, by Vehicle Type, 2015-2027 (US$ Bn)
7.3.1.Overview
7.3.2.Two-wheelers
7.3.3.Passenger Cars
7.3.4.Commercial Vehicles

8.Asia Pacific

8.1.Asia Pacific Industrial Electric Vehicles Market, by Country, 2015-2027 (US$ Bn)
8.1.1.China
8.1.2.Japan
8.1.3.South Korea
8.1.4.India
8.1.5.Australia
8.1.6.New Zealand
8.1.7.Taiwan
8.1.8.Southeast Asia
8.1.9.Central Asia
8.1.10.Rest of Asia Pacific
8.2.Asia Pacific Industrial Electric Vehicles Market, By Type, 2015-2027 (US$ Bn)
8.2.1.Overview
8.2.2.Battery Electric Vehicles (BEV)
8.2.3.Hybrid Electric Vehicles (HEV)
8.2.4.Plug-in Hybrid Electric Vehicles (PHEV))
8.3.Asia Pacific Industrial Electric Vehicles Market, by Vehicle Type, 2015-2027 (US$ Bn)
8.3.1.Overview
8.3.2.Two-wheelers
8.3.3.Passenger Cars
8.3.4.Commercial Vehicles

9.Latin America

9.1.Latin America Industrial Electric Vehicles Market, by Country, 2015-2027 (US$ Bn)
9.1.1.Brazil
9.1.2.Argentina
9.1.3.Peru
9.1.4.Chile
9.1.5.Colombia
9.1.6.Rest of Latin America
9.2.Latin America Industrial Electric Vehicles Market, By Type, 2015-2027 (US$ Bn)
9.2.1.Overview
9.2.2.Battery Electric Vehicles (BEV)
9.2.3.Hybrid Electric Vehicles (HEV)
9.2.4.Plug-in Hybrid Electric Vehicles (PHEV))
9.3.Latin America Industrial Electric Vehicles Market, by Vehicle Type, 2015-2027 (US$ Bn)
9.3.1.Overview
9.3.2.Two-wheelers
9.3.3.Passenger Cars
9.3.4.Commercial Vehicles

10.Middle East

10.1.Middle East Industrial Electric Vehicles Market, by Country, 2015-2027 (US$ Bn)
10.1.1.UAE
10.1.2.KSA
10.1.3.Israel
10.1.4.Turkey
10.1.5.Iran
10.1.6.Rest of Middle East
10.2.Middle East Industrial Electric Vehicles Market, By Type, 2015-2027 (US$ Bn)
10.2.1.Overview
10.2.2.Battery Electric Vehicles (BEV)
10.2.3.Hybrid Electric Vehicles (HEV)
10.2.4.Plug-in Hybrid Electric Vehicles (PHEV))
10.3.Middle East Industrial Electric Vehicles Market, by Vehicle Type, 2015-2027 (US$ Bn)
10.3.1.Overview
10.3.2.Two-wheelers
10.3.3.Passenger Cars
10.3.4.Commercial Vehicles

11.Africa

11.1.Africa Industrial Electric Vehicles Market, by Country, 2015-2027 (US$ Bn)
11.1.1.South Africa
11.1.2.Egypt
11.1.3.Nigeria
11.1.4.Rest of Africa
11.2.Africa Industrial Electric Vehicles Market, By Type, 2015-2027 (US$ Bn)
11.2.1.Overview
11.2.2.Battery Electric Vehicles (BEV)
11.2.3.Hybrid Electric Vehicles (HEV)
11.2.4.Plug-in Hybrid Electric Vehicles (PHEV))
11.3.Africa Industrial Electric Vehicles Market, by Vehicle Type, 2015-2027 (US$ Bn)
11.3.1.Overview
11.3.2.Two-wheelers
11.3.3.Passenger Cars
11.3.4.Commercial Vehicles

12.Global

12.1.Global Industrial Electric Vehicles Market, By Type, 2015-2027 (US$ Bn)
12.1.1.Overview
12.1.2.Battery Electric Vehicles (BEV)
12.1.3.Hybrid Electric Vehicles (HEV)
12.1.4.Plug-in Hybrid Electric Vehicles (PHEV))
12.2.Global Industrial Electric Vehicles Market, by Vehicle Type, 2015-2027 (US$ Bn)
12.2.1.Overview
12.2.2.Two-wheelers
12.2.3.Passenger Cars
12.2.4.Commercial Vehicles

13.Company Profiles

13.1.Tesla
13.2.BMW Group
13.3.Nissan Motor Corporation
13.4.Toyota Motor Corporation
13.5.Volkswagen AG
13.6.General Motors
13.7.Daimler AG
13.8.Energica Motor Company S.p.A.
13.9.BYD Company Motors
13.10.Ford Motor Company

List of Figures

FIG. 1 Global Industrial Electric Vehicles Market: Research Methodology

FIG. 2 Market Size Estimation – Top Down & Bottom up Approach

FIG. 3 Global Industrial Electric Vehicles Market Segmentation

FIG. 4 Global Industrial Electric Vehicles Market, by Product, 2019 (US$ Bn)

FIG. 5 Global Industrial Electric Vehicles Market, by End-user, 2019 (US$ Bn)

FIG. 6 Global Industrial Electric Vehicles Market, by Geography, 2019 (US$ Bn)

FIG. 7 Attractive Investment Proposition, by Geography, 2019

FIG. 8 Global Market Positioning of Key Industrial Electric Vehicles Market Manufacturers, 2019

FIG. 9 Global Industrial Electric Vehicles Market Value Contribution, By Type of Metal Extracted, 2019 & 2027 (Value %)

FIG. 10 Global Industrial Electric Vehicles Market, by Metal 1, Value, 2015-2027 (US$ Bn)

FIG. 11 Global Industrial Electric Vehicles Market, by Metal 2, Value, 2015-2027 (US$ Bn)

FIG. 12 Global Industrial Electric Vehicles Market, by Metal 3, Value, 2015-2027 (US$ Bn)

FIG. 13 Global Industrial Electric Vehicles Market, by Metal 4, Value, 2015-2027 (US$ Bn)

FIG. 14 Global Industrial Electric Vehicles Market, by Metal 5, Value, 2015-2027 (US$ Bn)

FIG. 15 Global Industrial Electric Vehicles Market, by Others, Value, 2015-2027 (US$ Bn)

FIG. 16 Global Industrial Electric Vehicles Market Value Contribution, By Type, 2019 & 2027 (Value %)

FIG. 17 Global Industrial Electric Vehicles Market, by Process 1, Value, 2015-2027 (US$ Bn)

FIG. 18 Global Industrial Electric Vehicles Market, by Process 2, Value, 2015-2027 (US$ Bn)

FIG. 19 Global Industrial Electric Vehicles Market, by Process 3, Value, 2015-2027 (US$ Bn)

FIG. 20 U.S. Industrial Electric Vehicles Market, 2015-2027 (US$ Bn)

FIG. 21 Rest of North America Industrial Electric Vehicles Market, 2015-2027 (US$ Bn)

FIG. 22 U.K. Industrial Electric Vehicles Market, 2015-2027 (US$ Bn)

FIG. 23 Germany Industrial Electric Vehicles Market, 2015-2027 (US$ Bn)

FIG. 24 France Industrial Electric Vehicles Market, 2015-2027 (US$ Bn)

FIG. 25 Rest of Europe Industrial Electric Vehicles Market, 2015-2027 (US$ Bn)

FIG. 26 Japan Industrial Electric Vehicles Market, 2015-2027 (US$ Bn)

FIG. 27 China Industrial Electric Vehicles Market, 2015-2027 (US$ Bn)

FIG. 28 India Industrial Electric Vehicles Market, 2015-2027 (US$ Bn)

FIG. 29 Rest of Asia Pacific Industrial Electric Vehicles Market, 2015-2027 (US$ Bn)

FIG. 30 Middle East & Africa Industrial Electric Vehicles Market, 2015-2027 (US$ Bn)

FIG. 31 Latin America Industrial Electric Vehicles Market, 2015-2027 (US$ Bn)

List of Tables

TABLE 1 Market Snapshot: Global Industrial Electric Vehicles Market

TABLE 2 Global Industrial Electric Vehicles Market, by Type of Metal Extracted, 2015-2027 (US$ Bn)

TABLE 3 Global Industrial Electric Vehicles Market, by Type, 2015-2027 (US$ Bn)

TABLE 4 Global Industrial Electric Vehicles Market, by Vehicle Type, 2015-2027 (US$ Bn)

TABLE 5 Global Industrial Electric Vehicles Market, by Geography, 2015-2027 (US$ Bn)

TABLE 6 North America Industrial Electric Vehicles Market, by Type of Metal Extracted, 2015-2027 (US$ Bn)

TABLE 7 North America Industrial Electric Vehicles Market, by Type, 2015-2027 (US$ Bn)

TABLE 8 North America Industrial Electric Vehicles Market, by Country, 2015-2027 (US$ Bn)

TABLE 9 Europe Industrial Electric Vehicles Market, by Type of Metal Extracted, 2015-2027 (US$ Bn)

TABLE 10 Europe Industrial Electric Vehicles Market, by Type, 2015-2027 (US$ Bn)

TABLE 11 Europe Industrial Electric Vehicles Market, by Country/Region, 2015-2027 (US$ Bn)

TABLE 12 Asia Pacific Industrial Electric Vehicles Market, by Type of Metal Extracted, 2015-2027 (US$ Bn)

TABLE 13 Asia Pacific Industrial Electric Vehicles Market, by Type, 2015-2027 (US$ Bn)

TABLE 14 Asia Pacific Industrial Electric Vehicles Market, by Country/Region, 2015-2027 (US$ Bn)

TABLE 15 Latin America Industrial Electric Vehicles Market, by Type of Metal Extracted, 2015-2027 (US$ Bn)

TABLE 16 Latin America Industrial Electric Vehicles Market, by Type, 2015-2027 (US$ Bn)

TABLE 17 Latin America Industrial Electric Vehicles Market, by Country/Region, 2015-2027 (US$ Bn)

TABLE 18 Middle East Industrial Electric Vehicles Market, by Type of Metal Extracted, 2015-2027 (US$ Bn)

TABLE 19 Middle East Industrial Electric Vehicles Market, by Type, 2015-2027 (US$ Bn)

TABLE 20 Middle East Industrial Electric Vehicles Market, by Country/Region, 2015-2027 (US$ Bn)

TABLE 21 Africa Industrial Electric Vehicles Market, by Type of Metal Extracted, 2015-2027 (US$ Bn)

TABLE 22 Africa Industrial Electric Vehicles Market, by Type, 2015-2027 (US$ Bn)

TABLE 23 Africa Industrial Electric Vehicles Market, by Country/Region, 2015-2027 (US$ Bn)

TABLE 24 Company 01: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)

TABLE 25 Company 2: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)

TABLE 26  Company 3: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)

TABLE 27 Company 4.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)

TABLE 28 Company 5: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)

TABLE 29  Company 6: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

TABLE 30 Company 7: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

TABLE 31 Company 8: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

TABLE 32 Company 9: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

TABLE 33 Company 10: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

TABLE 34 Company 11: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

TABLE 35 Company 12: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

TABLE 36 Company 13: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments

Frequently Asked Questions

Which are the various Industrial Electric Vehicles available in market?

Hybrid Electric Vehicles (HEV), Battery Electric Vehicles (BEV), and Plug-in Hybrid Electric Vehicles (PHEV) are the three types of EV available

Who are the key players in the global Industrial Electric Vehicles industry?

BMW Group, Tesla, Daimler AG, Nissan Motor Corporation, Volkswagen AG, Toyota Motor Corporation, General Motors, BYD Company Motors, Energica Motor Company S.p.A., and Ford Motor Company are the key players operating in this market

Which is the fastest growing Vehicle Type segment for global Industrial Electric Vehicles industry?

Passenger Cars offers tremendous opportunities to market players

Which is the leading regional market for global Industrial Electric Vehicles industry?

North America has the largest share owing to various developments happening in this space

What will be the CAGR (2021 – 2027) of in global Industrial Electric Vehicles industry?

The market is anticipated to grow at a CAGR of 30.1% throughout the forecast period

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