ACT Research Releases Global BEV and FCEV Forecast for Major Commercial Vehicle Markets

ACT Research Co.
3 min readFeb 4, 2022

ACT Research released its newest commercial electric vehicle forecast titled POWER UP: Global Commercial Electric Vehicle Markets to 2040. In this work, ACT Research analyzed seven regions and more than 20 countries, looking at a total of 85 unique vehicle applications in a battery and fuel cell electric vehicle analysis and adoption rate forecast.

POWER UP merges ACT’s strength in forecasting vehicle demand and developing custom, economic-based total-cost-of-ownership models to create an adoption rate forecast as a planning tool to benefit commercial vehicle OEMs and suppliers, as well as fleets and infrastructure developers.

Coming on the heels of ACT’s CHARGING FORWARD, a North American-centric electric vehicle study, the expanded global edition includes revised and updated forecast assumptions for US and Canada, plus the addition of Europe, China, Japan, South Korea, India, and Brazil. It also includes a new analysis of propulsion systems technology, related global regulations, and EV charging and H2 fueling infrastructure.

Ann Rundle, VP Electrification and Autonomy at ACT Research, noted, “This really is a first of its kind study, giving a truly global forecast of BEV and FCEV adoption rates in major commercial vehicle markets over the next twenty years. The forecast is based on a bottom-up Total Cost of Ownership (TCO) analysis, detailing 85 unique individual medium-duty and heavy-duty commercial vehicle applications in seven regions. No other study provides the same level of breadth and granularity.”

All Regions — Total BEV and FCEV Adoption Rates 2021–2040

POWER UP is not only a view of the global adoption rates, but is based on a consistent approach that OEMs, suppliers, infrastructure developers, fleets, and investment firms regard as the gold-standard in total-cost-of-ownership analysis, creating a baseline forecast for electric vehicles (BEV and FCEV) across the globe.

“This has been a great multi-client study. The level of participation of our study participants has been amazing, ensuring that this is more than just some desk research project based on theoretical costs and projections. For me, the best part of this study was the positive reception our clients had to the finished product; finally they have one source to help them plan for the future. It is very cool to know all of our hard work has tangible value,” remarked Ann Rundle, VP, Electrification and Autonomy.

ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis, and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over four years. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at

ACT’s 66th Seminar is scheduled for February 22–24, 2022. Focused on the continuous evolution and advancement of autonomous and powertrain technologies in the transportation and commercial vehicle markets, OUTLOOK Seminar 66 will feature key industry leaders from Ford, Transplace, TuSimple, and the EPA, with more being added to the agenda. February’s event features three panels (US Economics, Trucker & Transportation, and Autonomous Ecosystem), as well as a fireside chat with the EPA, discussions about fleet decarbonization, electric vehicle forecasts, and reviews of freight/transportation, Class 8, Classes 5–7, the US used truck and new US trailer markets. For information about OUTLOOK Seminar 66, click here.

For more information about POWER UP, click here.

Details about other ACT Research products and services can be found by clicking here.



ACT Research Co.

ACT Research is the leader in commercial vehicle industry data, market analysis, and forecasting services for North America.