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The electric light commercial vehicle market was valued at around US$ 173 billion in 2019. In the following five years, sales of electric light commercial vehicles surged at a 12% CAGR and reached US$ 271.9 billion by 2023.

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The eLCV market, driven by environmentalism & urban delivery needs in Asia, will surge from $303.2 B in 2024 to $750 B by 2034, powered by a 9.5% CAGR.