Frost Radar™: North American Electric Light Commercial Vehicle Market, 2022
Published on: 29-Aug-2022 | SKU: AU02394-NA-MR_26863

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As the North American transportation and mobility space transitions toward electrification during the next decade, new opportunities and greater demand for greener powertrain alternatives will surface. The biggest opportunities lie in battery electric technology to expedite the adoption of cleaner and more sustainable last-mile mobility. Many new participants have entered the electric light commercial vehicle (eLCV) space, drawn to the sheer potential in volume and conducive business case for the early adoption of electrification. Numerous start-ups are building eLCVs from scratch and bringing in fresh and dedicated platforms for electrification that make vehicles highly efficient. As the market evolves, OEMs and suppliers will collaborate to produce greener pickups and vans that are technologically feasible and financially viable for customers. Industry stakeholders are working together to provide customers with vital end-to-end solutions. Industry stakeholders are working together to provide customers with vital end-to-end solutions.

Improving battery chemistry and properties to lower costs and increase energy density plays a big role in accelerating the electrification potential of vehicles used in heavy-duty applications.

OEMs have saturated the market with eLCV options for delivery applications, such as severe-duty pickups, by offering higher torque and stable power output. These are requirements that OEMs can build on for favorable electric viability. Improving the business case for electrification in heavy-duty applications can prove rewarding for OEMs due to the lack of existing options in this area.

Frost & Sullivan identified 8 companies that are disrupting the emerging North American eLCV market with their cutting-edge innovation, groundbreaking technology, strong partnerships, and strategic product positioning. They are Tesla, Arrival, Rivian, Canoo, Atlis Motor Vehicles, Bollinger Motors, Workhorse Group, and Vicinity Motor Corp. These companies either have a presence already or are preparing to commercially launch eLCVs on North American roads in the near term.

Author: Marshall Martin

Strategic Imperative

Growth Environment

Growth Environment

Frost Radar™:

Frost Radar™: Competitive Environment

Arrival

Atlis Motor Vehicles

Bollinger Motors

Canoo

Rivian

Tesla

Vicinity Motor Corp.

Workhorse Group

Strategic Insights

Significance of Being on the Frost Radar™

Frost Radar™ Empowers the CEO’s Growth Team

Frost Radar™ Empowers Investors

Frost Radar™ Empowers Customers

Frost Radar™ Empowers the Board of Directors

Frost Radar™: Benchmarking Future Growth Potential

Frost Radar™: Benchmarking Future Growth Potential

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Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform

Growth Index

Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.

  • Market Share (previous 3 years)
    This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years.
  • Revenue Growth (previous 3 years)
    This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™.
  • Growth Pipeline
    This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities.
  • Vision and Strategy
    This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision?
  • Sales and Marketing
    This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.

Innovation Index

Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.

  • INNOVATION SCALABILITY
    This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals.
  • RESEARCH AND DEVELOPMENT
    This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline.
  • PRODUCT PORTFOLIO
    This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue.
  • MEGATRENDS LEVERAGE
    This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline.
  • CUSTOMER ALIGNMENT
    This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.

Significance of Being on the Frost Radar™

Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.

  • GROWTH POTENTIAL
    Your organization has significant future growth potential, which makes it a Company to Action.
  • BEST PRACTICES
    Your organization is well positioned to shape Growth Pipeline™ best practices in your industry.
  • COMPETITIVE INTENSITY
    Your organization is one of the key drivers of competitive intensity in the growth environment.
  • CUSTOMER VALUE
    Your organization has demonstrated the ability to significantly enhance its customer value proposition.
  • PARTNER POTENTIAL
    Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.

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Impacting your company's future growth potential.

As the North American transportation and mobility space transitions toward electrification during the next decade, new opportunities and greater demand for greener powertrain alternatives will surface. The biggest opportunities lie in battery electric technology to expedite the adoption of cleaner and more sustainable last-mile mobility. Many new participants have entered the electric light commercial vehicle (eLCV) space, drawn to the sheer potential in volume and conducive business case for the early adoption of electrification. Numerous start-ups are building eLCVs from scratch and bringing in fresh and dedicated platforms for electrification that make vehicles highly efficient. As the market evolves, OEMs and suppliers will collaborate to produce greener pickups and vans that are technologically feasible and financially viable for customers. Industry stakeholders are working together to provide customers with vital end-to-end solutions. Industry stakeholders are working together to provide customers with vital end-to-end solutions. Improving battery chemistry and properties to lower costs and increase energy density plays a big role in accelerating the electrification potential of vehicles used in heavy-duty applications. OEMs have saturated the market with eLCV options for delivery applications, such as severe-duty pickups, by offering higher torque and stable power output. These are requirements that OEMs can build on for favorable electric viability. Improving the business case for electrification in heavy-duty applications can prove rewarding for OEMs due to the lack of existing options in this area. Frost & Sullivan identified 8 companies that are disrupting the emerging North American eLCV market with their cutting-edge innovation, groundbreaking technology, strong partnerships, and strategic product positioning. They are Tesla, Arrival, Rivian, Canoo, Atlis Motor Vehicles, Bollinger Motors, Workhorse Group, and Vicinity Motor Corp. These companies either have a presence already or are preparing to commercially launch eLCVs on North American roads in the near term. Author: Marshall Martin
More Information
Deliverable Type Frost Radar
Author Marshall Martin
Industries Automotive
No Index No
Is Prebook No
Keyword 1 eLCV market
Keyword 2 electric commercial vehicle
Keyword 3 electric vehicle market
Podcast No
WIP Number PD99-01-00-00-00

Frost Radar™: North American Electric Light Commercial Vehicle Market, 2022

AutomotiveFrost Radar™: North American Electric Light Commercial Vehicle Market, 2022

A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines

RELEASE DATE
29-Aug-2022
REGION
North America
Deliverable Type
Frost Radar
Research Code: PD99-01-00-00-00
SKU: AU02394-NA-MR_26863
AvailableYesPDF Download
$4,950.00
In stock
SKU
AU02394-NA-MR_26863