Global Commercial & Off-Highway Vehicle Electrification Market Analysis Report 2022: OEMs Still Appear Reluctant to Completely Abandon ICEs in the Commercial Vehicle Market


Dublin, March 10, 2023 (GLOBE NEWSWIRE) -- The "Commercial & Off-Highway Vehicle Electrification Market Analysis - Sales of Buses, Trucks, Light Commercial Vehicles, Construction Vehicles, Agricultural Vehicles, Forklifts" report has been added to's offering.

The Commercial Off-Highway Vehicles Service takes a look at the following 6 types of vehicles: Agriculture, Buses & Coaches, Construction, Light Commercial Vehicles, Forklifts, and Trucks, further breaking down each type into various sub-types and sub-categories.

Electric Vehicles have been penetrating the passenger vehicle market significantly, but what is the story for commercial and off-highway vehicles? Motivations and incentives are different in this sector where latest-and-greatest pales in comparison to ROI.

Within the e-Mobility segment, the Commercial & Off-Highway Vehicles Service has been designed to look deeper into the sales of these vehicles, complimenting the EV Charging Infrastructure (EVSE) Service. Many segments have different drivers and market dynamics as well as a myriad of OEMs providing solutions. Accelerators and Inhibitors in this market include the available EV charging infrastructure, EV policy and plans, and company product portfolios.

Recently, the transition towards zero-emission vehicles has been evident, especially in the electric commercial vehicles segment (Buses, Trucks, LCVs). Several new electric models have been announced in the commercial vehicle segment with higher range and battery sizes. New long-haul models have also been announced by major OEMs indicating an imminent market shift in the United States.

Alongside these market changes, major fleet operators have announced their sustainability goals as they start electrifying their fleets. In Europe, the United States, and China, there has been rapid growth in the adoption of e-bus fleets. China, on a global scale, hosts over 90% of all e-buses currently.

There has been a clear shift from PHEVs to BEVs as well, especially in the LCV segment, as only BEVs may be considered zero-emission commercial vehicles. That said, the market is still reliant on subsidies. In a 2019 momentum test in China, the market of e-buses slowed down as subsidies were temporarily removed.

In addition to this, OEMs still appear reluctant to completely abandon ICEs in the commercial vehicle market segment. But as the adoption of BEVs increases, the market is naturally gravitating towards such vehicles and many OEMs are expanding into the market to avail new growth opportunities to stay relevant in this change.

As a part of this service, the analyst delves into the current and projected sales to accurately forecast and predict market happenings based upon qualitative and quantitative shifts observed due to changes in market dynamics. The service includes annual sales volumes, and historical data; Market Shares by vehicle segment; Key Market Trends along with exclusive analyst commentary. Additionally, market shares of OEMs are also available.

High-level collected data is categorized into sub-categories based upon the aforementioned vehicle types and then triangulated and validated through primary research. Data through secondary research is obtained from private and federal/public targets and automotive OEMs. Primary research is conducted through interviews of vehicle manufacturers, fleet-operators and auto-dealers to validate and understand the market trends.

Data is presented as a database along with a Power BI Dashboard for interactive and quick analytics; and a Live App for quick access to industry news, important sources, and update logs. With the extensive intel that this service provides, all that remains requiring your attention is the set of informed and data-backed decisions you need to make to ensure company and investment success.

Key Topics Covered:

1. By Weight & Functionality

I. Trucks
i. Heavy Duty
ii. Medium Duty
II. Buses
i. Heavy Duty
ii. Medium Duty
III. Light Commercial Vehicles (LCVs)
i. Vans
ii. Trucks
IV. Forklifts
i. Class 1
ii. Class 2
iii. Class 3
iv. Class 4-5
V. Agricultural Vehicles
i. Tractors
ii. Combines
iii. Others
VI. Construction Vehicles
i. Wheeled Loaders
ii. Backhoe Loaders
iii. Excavators
iv. Others

2. By Fuel Type (for Each Weight/Functionality)

I. Trucks
i. Internal Combustion Engine (ICEs)
ii. Electric (BEVs/PHEVs)
II. Buses
i. Internal Combustion Engine (ICEs)
ii. Electric (BEVs/PHEVs)
III. Light Commercial Vehicles (LCVs)
i. Internal Combustion Engine (ICEs)
ii. Electric (BEVs/PHEVs)
IV. Forklifts
i. Internal Combustion Engine (ICEs)
ii. Electric (BEVs/PHEVs)
V. Agricultural Vehicles
i. Internal Combustion Engine (ICEs)
ii. Electric (BEVs/PHEVs)
VI. Construction Vehicles
i. Internal Combustion Engine (ICEs)
ii. Electric (BEVs/PHEVs)

Companies Mentioned

  • AGCO Corporation
  • Amalgamations Group
  • Anhui Forklift Truck Group
  • Ashok Leyland
  • Caterpillar Inc.
  • Claas Group
  • CNH Industrial
  • Crown Equipment Corp.
  • Daimler Group
  • Deere & Company
  • Dongfeng Motor
  • Doosan Corporation
  • Fiat Chrysler Automobiles
  • Ford motor Company
  • General Motors Company
  • Groupe PSA
  • Groupe Renault
  • Hangcha Group
  • Hitachi Construction Machinery
  • Hyster-Yale Materials Handling
  • Jungheinrich AG
  • Kion Group
  • Komatsu Ltd.
  • Kubota Corporation
  • Liebherr Group
  • Mahindra Group
  • Mitsubishi Nichiyu Forklift Co.
  • Navistar International
  • Nissan Motor Co.
  • PACCAR Inc.
  • SAIC Motor Corporation
  • Sany Heavy Industry Co.
  • SDF Group
  • Suzuki Motor Corporation
  • TATA Motors
  • Toyota Group
  • Volkswagen Group
  • Volvo Group
  • Xiamen King Long Motor Group
  • XCMG Group
  • Zhengzhou Yutong Bus Co.
  • Zhongtong Bus Holding Co.

For more information about this report visit

About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.