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Why Will APAC Lead Commercial Electric Vehicle Market in the Future?

Electric Commercial Vehicle Market Size and Share Analysis Report@

In recent years, more electric vehicles have been on the road, and this trend will only continue as global demand rises. Furthermore, as the average daily driving length is usually lower in metropolitan areas, more efficient vehicles are typically more common there. By 2030, it's anticipated that more than 50% of the world's population will reside in urban areas, increasing the need for electric vehicles.

The number of ports available is growing yearly as many communities attempt to fulfill the rising demand for charging stations. Electric automobiles are becoming more widely available as there are more charging stations in airports, supermarkets, and other public places.

The commercial electric vehicle sector is experiencing significant growth due to the falling cost and rising operational efficiency of batteries. Industry experts claim that the average cost of Li-ion battery packs for large sales has dropped from about $642/kWh in recent years to about $209/kWh.

Electric Commercial Vehicle Market Growth Forecast, 2023-2030

Electric Commercial Vehicle Market Growth Forecast, 2023-2030

The electric commercial vehicle market size stood at $68.9 billion in 2022, and it is expected to grow at a CAGR of 36.2% during 2022–2030.
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Micro-Mobility Revolution: Navigating Trends in the Global Micromobility Market

The micromobility market has captured $3,060 million revenue in 2021, and it is projected to rise at a rate of 14.5% from 2021 to 2030, to generate $10,351 million revenue in 2030, according to P&S Intelligence. It is ascribed to the rapid development of smart cities and the worldwide expansion of the automotive infrastructure.

The surging number of micromobility vehicles, their various advantages, including compact size, restricted passenger capacity, low weight, and ease of use, and the surging demand for ridesharing in metropolitan regions boost the industry growth.

Moreover, the surging penetration of service providers, growing costs of vehicle ownership, and increasing demand for emission-free vehicles propel industry growth.

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Report Sample - Micromobility Market Size, Share & Demand Forecast to 2030

Report Sample - Micromobility Market Size, Share & Demand Forecast to 2030

The micromobility market was valued at $3,060 million in 2021, and this number is expected to increase to $10,351 million by 2030, advancing at a CAGR of 14.5% during 2021–2030.

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