The total value of electric commercial vehicle MRO market in the previous year 2022 is figured at around US$ 513.9 million. During the projection period, the FMI report predicts that the overall market would develop at an amazing pace of 23.8% per year. Meanwhile, the total market value is anticipated to grow from US$ 638.7 million in 2023 to over US$ 5,401.6 million by 2033.
Logistics and transport businesses have indeed been facing the cost surcharges connected with the maintenance and repair of their electric vehicles. End users quickly adopted the introduction of companies providing such maintenance, repair, and overhaul services, making it a high-potential business soon.
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Fleet owners around the world are adopting electric cars (EVs) as a more and more common means of logistics and transportation these days. Moreover, Federal governments are extending sufficient support to this sector as it is projected to produce many employment opportunities in the hinterlands.
With rising petrol prices, big fleet owners throughout the world are migrating increasingly towards electric and hybrid vehicles of transportation and logistics. Several government measures to encourage the deployment of such commercial EVs have greatly aided the expansion of the MRO sector.
Severe weather and the need to decrease the intervals between planned MRO calls will continue to be the primary limitations on market development. Furthermore, several international and national initiatives promoting electric mobility are expected to play a significant influence in market major trends.
Competitive Landscape for the Electric Commercial Vehicle MRO Market
Name of some of the leading players operating in the global electric commercial vehicle MRO market is Robert Bosch GmbH, LKC Corporation, The Hybrid Shop, Hyundai Motor Company, Singapore Technologies Engineering, Performance Consulting Associates, Inc., Micron Technology, Inc., TMD Mobility PTE. Ltd., Fraunhofer Gesellschaft, and NM and E Co., Ltd. among others.
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Recent Developments in the Electric Commercial Vehicle MRO Services Industry
Custom masking options that are highly tailored particularly for E-Coating, Insulation Coating, and Class-A Paint Coatings make up Echo's MRO expertise for the EV sector.
