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Allied Market Research

Electric Utility Vehicle Market by Type (Acid Lead Type, Gel Lead Type, and Lithium-Ion Type), and by Application (Commercial Use, Industrial Use, Private Use, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

A09618
Pages: NA
Dec 2020 | 103 Views
 
Author(s) : NA
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Electric Utility Vehicle Market Outlook - 2027

In past few years, the use of alternative for fossil fuel vehicles have enlarged owing to climate change and environmental sustainability. An electric utility vehicle is an alternative to conventional utility vehicle which gets power from battery instead of internal combustion engines. Moreover, electric utility vehicle is designed to carry out a specific task with more efficiency than a passenger vehicle. Besides, electric utility vehicle is quiet and green alternative to conventional utility vehicle. Electric utility vehicles are used in farms, logistics, parks, or carrying any other utilities.

Market scope and structure analysis:

Report Metric

Details

Market size available for years

2019–2027

Base year considered

2019

Forecast period

2020–2027

Forecast units

Value (USD)

Segments covered

Type, Application

Region covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa

Companies covered

Tesla, Alkè, Tropos motor, Columbia vehicle, Marshell, Polaris, Club Car, Star EV, Neuron EV, Bollinger Motors

 

 COVID-19 scenario analysis:

  • The eruption of coronavirus has decelerated the production of automotive sector and electric vehicle industry has been no exception.
  • Despite the impacts of COVID-19 on the workforce and factory operation, the electric utility vehicle market is expected to grow in the near future.
  • Governments are focusing towards cleaner technologies. Moreover, the government relief packages during the economic crisis for adoption of electric utility vehicle is expected to propel the market.
  • However, governments would tighten their expenditure on electric vehicle infrastructure, which, in turn would affect the growth in countries with underdeveloped infrastructure. Further, the sales of EV are anticipated to rise in countries with proper infrastructure.

Top impacting factors: market scenario analysis, trends, drivers and impact analysis

Stringent government rules and regulations towards vehicle emissions and increase in fuel cost is driving the market of electric utility market. Additionally, increasing investment by governments in developing the infrastructure for electric vehicles is favoring the market. Besides, rise in pollution and decrease in fossil fuel reserves is bolstering the market growth. However, high cost and low operating range linked with electric utility vehicles is hampering the market growth. Furthermore, technological advancements in electric vehicle and heavy investment by manufacturers in R&D activities is expected to proliferate the market. 

The electric utility vehiclemarket trends are as follows:

Delivery fleet to boost the market demand

While e-commerce has grown significantly globally in recent years, there is a huge potential for penetration of online sales in near future. Factors like growth of rural consumption, growing income, increased online spending and rising use of internet and smartphones are fueling the e-commerce platforms. However, commercial delivery vehicle which run on fossil fuels aren’t cost-effective as frequent stops and idling waste lots of petrol. To resolve this problem, many companies are focusing towards electric utility vehicles for delivering products. For instance, Amazon has procured Mercedes-Benz electric utility vehicle to dispatch goods from its fulfilment center in Munich.

Rise in number of public charging to foster the market growth

OEMs have shifted their focus toward zero-emission vehicles in order to reduce the global warming caused by gasoline engines. Governments are supporting the initiative by providing infrastructure required for the growth of electric vehicles. Moreover, companies are associating to develop electric charging solution. For instance, in 2020, MG Motors joined hands with TATA power to setup superfast chargers for electric vehicles and provide end to end solution. With this association, the companies focus to expand the market for electric vehicles.

Key segments covered:

Segments

Sub-segments

Type

  • Acid Lead Type
  • Gel Lead Type
  • Lithium-Ion Type

Application

  • Commercial Use
  • Industrial Use
  • Private Use
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the Electric Utility Vehicleindustry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the Electric Utility Vehiclemarket growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the electric utility vehicle market research report:

  • Which are the leading market players active in the electric utility vehicle market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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