Special Purpose Electric Vehicles Market Key Growth Factor Analysis, And Research Study 2029
October 15, 2022 ⚊ 1 Min read ⚊ Views 106 ⚊ NEWS
The special purpose electric vehicles market is expected to reach $113.75 billion by 2029, at a CAGR of 13.1% during the forecast period. By volume, this market is expected to reach 2.57 million units by 2029, at a CAGR of 13.8%. The growth of this market is driven by factors such as the growing construction industry in various countries, the increasing number of 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
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Tags: special purpose electric vehicles market analysis
