Special Purpose Electric Vehicle Market Worth $113.75 Billion and 2.57 Million Units by 2029
Special Purpose Electric Vehicle Market by Type (Electric Sweepers and Scrubbers, Electric Sanitation Trucks, Electric Earthmoving Equipment, Electric Concrete Mixers), Battery Capacity, Application, End User, and Geography - Global Forecast to 2029
(EMAILWIRE.COM, July 06, 2022 ) Meticulous Research®—leading global market research company published a research report titled, ‘Special Purpose Electric Vehicle Market by Type (Electric Sweepers & Scrubbers, Electric Sanitation Trucks, Electric Earthmoving Equipment, Electric Concrete Mixers), Battery Capacity, Application, End User, and Geography—Global Forecast to 2029.’ The special purpose electric vehicle market is expected to grow at a CAGR of 13.1% by value from 2022 to reach $113.75 billion by 2029. By volume, this market is expected to grow at a CAGR of 13.8% from 2022 to reach 2.57 million units by 2029.
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The growth of this market is driven by factors such as the growing construction industry in various countries, the increasing investments by municipal corporations, and rising environmental concerns. However, concerns regarding the underutilization of special purpose EVs due to their unsuitability for multi-shift operations and long charging cycles, and high initial investment requirements are expected to hamper the growth of this market. Furthermore, the increasing requirement for safe working environments and low maintenance costs of special purpose EVs are expected to create significant growth opportunities for the growth of this market.
Impact of COVID-19 on the Special Purpose Electric Vehicle Market
The outbreak of the COVID-19 pandemic significantly impacted public health and businesses globally. Governments worldwide imposed lockdowns and curfews, consequently shutting down on-premise business processes and manufacturing operations to curb the spread of infection, disrupting supply chains and production schedules globally.
The economic slowdown significantly disrupted the automotive industry, causing a rapid decline in the sale of special purpose electric vehicles. However, various government initiatives and increasing investments by companies are contributing to the growth of this market, which is expected to help overcome the impact of COVID-19 on the special purpose EV market.
Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5291
Scope of the Report:
Special Purpose EV Market, by Type
Electric Sweepers & Scrubbers
Electric Sanitation Trucks
Electric Earthmoving Equipment
Electric Excavators
Electric Wheel Loaders
Electric Crawler Cranes
Electric Bulldozers
Other Electric Earthmoving Equipment
Electric Concrete Mixers
Electric Tractors
Electric Forklifts
Electric Automated Guided Vehicles (AGVs)
Pallet Stackers
Pallet Trucks
Special Purpose EV Market, by Battery Capacity
Below 10 kW
12.5 kW to 100 kW
Above 100 kW
Special Purpose EV Market, by Application
Airports
Railway Stations
Mining Sites
Construction Sites
Logistics Companies
Commercial Spaces
Factories
Other Applications
Special Purpose EV Market, by End User
Municipal
Industrial
Commercial End Users
Special Purpose EV Market, by Geography
Asia-Pacific (APAC)
China
Japan
South Korea
India
Rest of Asia-Pacific (RoAPAC)
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe (RoE)
North America
U.S.
Canada
Latin America
Middle East & Africa
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/special-purpose-electric-vehicle-market-5291
Based on geography, in 2022, Asia-Pacific is estimated to account for the largest share of the special purpose electric vehicles market. Asia-Pacific’s large market share is attributed to the increasing demand for EVs and charging facilities, the growing number of electric mobility start-ups offering numerous solutions & services, and the rising number of government initiatives to develop charging infrastructure. However, Europe is expected to register the fastest growth by value during the forecast period.
Some of the key players operating in the special purpose electric vehicles market are Anhui Airuite New Energy Special Purpose Vehicle Co., Ltd. (France), Dulevo International S.p.A. (Italy), Aebi Schmidt Group (Zürich), AB Volvo (Sweden), Liebherr-International Deutschland GmbH (Germany), Hyster-Yale Materials Handling, Inc.(U.S.), Linde Material Handling GmbH (Germany), Toyota Material Handling, Inc. (U.S.), Jungheinrich AG (Germany), Mitsubishi Logisnext Europe B.V. (Netherlands), J C Bamford Excavators Ltd (U.K.), Big Lift, LLC (U.S.), Crown Equipment Corporation (U.S.), Mighty Lift, Inc. (U.S.), and HUBTEX Maschinenbau GmbH & Co. KG (Germany).
Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5291
Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5291
The growth of this market is driven by factors such as the growing construction industry in various countries, the increasing investments by municipal corporations, and rising environmental concerns. However, concerns regarding the underutilization of special purpose EVs due to their unsuitability for multi-shift operations and long charging cycles, and high initial investment requirements are expected to hamper the growth of this market. Furthermore, the increasing requirement for safe working environments and low maintenance costs of special purpose EVs are expected to create significant growth opportunities for the growth of this market.
Impact of COVID-19 on the Special Purpose Electric Vehicle Market
The outbreak of the COVID-19 pandemic significantly impacted public health and businesses globally. Governments worldwide imposed lockdowns and curfews, consequently shutting down on-premise business processes and manufacturing operations to curb the spread of infection, disrupting supply chains and production schedules globally.
The economic slowdown significantly disrupted the automotive industry, causing a rapid decline in the sale of special purpose electric vehicles. However, various government initiatives and increasing investments by companies are contributing to the growth of this market, which is expected to help overcome the impact of COVID-19 on the special purpose EV market.
Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5291
Scope of the Report:
Special Purpose EV Market, by Type
Electric Sweepers & Scrubbers
Electric Sanitation Trucks
Electric Earthmoving Equipment
Electric Excavators
Electric Wheel Loaders
Electric Crawler Cranes
Electric Bulldozers
Other Electric Earthmoving Equipment
Electric Concrete Mixers
Electric Tractors
Electric Forklifts
Electric Automated Guided Vehicles (AGVs)
Pallet Stackers
Pallet Trucks
Special Purpose EV Market, by Battery Capacity
Below 10 kW
12.5 kW to 100 kW
Above 100 kW
Special Purpose EV Market, by Application
Airports
Railway Stations
Mining Sites
Construction Sites
Logistics Companies
Commercial Spaces
Factories
Other Applications
Special Purpose EV Market, by End User
Municipal
Industrial
Commercial End Users
Special Purpose EV Market, by Geography
Asia-Pacific (APAC)
China
Japan
South Korea
India
Rest of Asia-Pacific (RoAPAC)
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe (RoE)
North America
U.S.
Canada
Latin America
Middle East & Africa
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/special-purpose-electric-vehicle-market-5291
Based on geography, in 2022, Asia-Pacific is estimated to account for the largest share of the special purpose electric vehicles market. Asia-Pacific’s large market share is attributed to the increasing demand for EVs and charging facilities, the growing number of electric mobility start-ups offering numerous solutions & services, and the rising number of government initiatives to develop charging infrastructure. However, Europe is expected to register the fastest growth by value during the forecast period.
Some of the key players operating in the special purpose electric vehicles market are Anhui Airuite New Energy Special Purpose Vehicle Co., Ltd. (France), Dulevo International S.p.A. (Italy), Aebi Schmidt Group (Zürich), AB Volvo (Sweden), Liebherr-International Deutschland GmbH (Germany), Hyster-Yale Materials Handling, Inc.(U.S.), Linde Material Handling GmbH (Germany), Toyota Material Handling, Inc. (U.S.), Jungheinrich AG (Germany), Mitsubishi Logisnext Europe B.V. (Netherlands), J C Bamford Excavators Ltd (U.K.), Big Lift, LLC (U.S.), Crown Equipment Corporation (U.S.), Mighty Lift, Inc. (U.S.), and HUBTEX Maschinenbau GmbH & Co. KG (Germany).
Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5291
Contact Information:
Meticulous Research™
Khushal
Tel: +91 744-7780008
Email us
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Meticulous Research™
Khushal
Tel: +91 744-7780008
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results