Global Electric Delivery Vans Market Highlights 2022 – 2030
The global electric delivery vans market is estimated to garner a large amount of revenue and grow at a CAGR of ~17% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing emphasis of government on electrification of public transport fleet, increasing demand for emission-free delivery vans, and escalating adoption of electric vehicles worldwide. According to the International Energy Agency, the stock of electric cars around the world rose up to more than 7.2 million in 2019, up from about 5 million in the year 2018. Around 2.1 electric cars were sold in 2019. Along with these, surge in environmental concerns around the world is giving impetus to the imposition of stringent emission regulations, which in turn is expected to significantly contribute to the market growth in the forthcoming years. Moreover, rising number of new product launches and collaborations among major companies is projected to offer ample growth opportunities to the market in the near future.
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The market is segmented based on propulsion type into battery electric truck, hybrid electric truck, plug-in hybrid electric truck, and fuel cell electric truck, out of which, the hybrid electric truck segment is anticipated to hold the largest share in the global electric delivery vans market. This can be accounted to the environment-friendliness, financial benefits, regenerative braking system and low dependence of these vehicles on fossil fuels. Additionally, on the basis of application, the segment for distribution services is predicted to acquire the largest share during the forecast period owing to the growing demand for electric delivery vans in the logistics industry resulting from the rapid expansion of e-commerce services. Apart from these, increase in usage of green vehicles in the distribution services industry is also assessed to drive growth to the market segment in the imminent time.
Global Electric Delivery Vans Market Regional Synopsis
On the basis of geographical analysis, the global electric delivery vans market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the North America region is estimated to grab the largest share and witness noteworthy growth over the forecast period on the back of the rising technological advancements in electric vehicles, and high awareness levels about fossil fuel emissions. In addition, intensifying government support regarding electrification of delivery trucks is also evaluated to boost market growth in the coming years. Furthermore, the market in Europe is also assessed to occupy significant market share during the forecast period ascribing to favorable government policies associated with the manufacture of green vehicles and the strong presence of electric vehicle companies in the region. As per the European Environment Agency, the uptake of electric vans increased in Europe, from 0.8 % of total registrations in 2018 to 1.3 % in 2019. In 2019, electric car registrations were close to 550,000 units, having reached 300,000 units in 2018.
The global electric delivery vans market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global electric delivery vans market includes the following segments:
By Propulsion Type
- Battery Electric Truck
- Hybrid Electric Truck
- Plug-in Hybrid Electric Truck
- Fuel Cell Electric Truck
By Range
- 0-150 Miles
- 151-300 Miles
- 300 Miles and Above
By Application
- Distribution Services
- Field Service
- Long Haul Transportation
- Others
Growth Drivers
- Growing Emphasis of Government on Electrification of Public Transport Fleet
- Increasing Demand for Emission-Free Delivery Vans
Challenges
- Limited Battery Capacity of Electric Delivery Vans
Top Featured Companies Dominating the Market
- Rivian SCANIA AB
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Dongfeng Motor Group Co., Ltd
- BYD Company Ltd
- DAIMLER AG
- Tesla Inc.
- The Volvo Group
- MAN SE
- Workhorse Group
- General Motors Company
- Fiat Automobiles S.p.A.
