The increasing demand for last-mile and food delivery services and the need for nimble, emission-free modes of transportation with low operating costs are driving the commercial light EVs (CLEVs) market. Further increasing demand, cities have responded to urbanization and congestion with access restrictions to internal combustion engine vehicles.
Battery technology has advanced to help reduce prices and improve performance, resulting in CLEVs becoming an attractive proposition for applications such as transporting staff and goods on government fleets. Furthermore, police and military forces are seeing the benefits of CLEVs as agile and stealthy patrol vehicles.
In sales revenue, E3Ws are the leading CLEV technology, predominantly in India. The large fleet of E3Ws there is expected to gradually transition from mainly low-cost sealed lead-acid batteries to higher performance li-ion, which offer performance advantages for commercial use. This will likely lead to increased average transaction prices and projected revenue of $4.1 billion in 2031.
The commercial e-bike market is forecast to closely follow revenue expectations for E3Ws, with the highest number of unit sales for any CLEV technology, led by the market in China.
The report analyzes the global potential for CLEVs and evaluates how the market for these technologies will evolve. The report features an overview of the various types of CLEV, current applications and an examination of the key drivers for future demand. Global market forecasts through 2031 are included for unit sales and sales revenue generated by the major CLEV technologies including e-Bikes, e-Cargo Bikes, seated e-Scooters, e-Motorcycles, and E3Ws.
