The electric commercial vehicle market size was US$ 194.7 billion in 2021 and is projected to reach US$ 1190.2 billion by 2030, growing at a compound annual growth rate (CAGR) of 22.1% during the forecast period from 2021-2030.
COVID-19 Impact Analysis
The COVID-19 adversely affected the entire automotive sector. Manufacturing companies had to close their plants for a short time period. It is because of the shortage of laborers and the ban on import-export activities. Thus, the global electric commercial vehicles market witnessed significant disruptions during the initial phase of the pandemic.
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Factors Influencing
