Product Code: CMI7447
Global electric van market is estimated to be valued at USD 30.21 Bn in 2024 and is expected to reach USD 52.65 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.3% from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2024: |
US$ 30.21 Bn |
Historical Data for: |
2019 To 2023 |
Forecast Period: |
2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: |
8.30% |
2031 Value Projection: |
US$ 52.65 Bn |
Figure. Electric Van Market Share (%), By Region 2024
Global electric van market has been witnessing significant growth in recent years owing to the rising demand for eco-friendly and emission-free transportation solutions. Electric vans offer several benefits over their conventional diesel or petrol counterparts including lower operating and maintenance costs, zero tailpipe emissions, and incentives & subsidies in many countries for purchasing electric commercial vehicles. Many large fleet operators and last mile delivery companies are gradually transitioning to electric vans as they aim to reduce carbon footprint and improve sustainability of their operations. Advancements in battery technology are also helping electric vans achieve greater driving ranges on a single charge. With tightening emission norms, high fuel prices, and supportive government policies, the electric van market is expected to grow substantially in the coming years.
Market Dynamics:
Global electric van market is driven by various factors such as rising environmental concerns, stringent emission regulations, lower total cost of ownership of electric vans compared to diesel vans, growing electric vehicle adoption targets set by various countries, and increasing investments by commercial fleet operators into electric fleet modernization. However, high upfront purchase cost of electric vans and lack of adequate public charging infrastructure in many regions are some of the key factors restraining the market growth. Ongoing advancements in battery technology to improve vehicle range and faster charging solutions present lucrative opportunities for market expansion. Rise of software-enabled fleet monitoring and electric van leasing models are also expected to encourage greater commercial adoption of these vehicles.
Key Features of the Study:
This report provides in-depth analysis of the global electric van market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global electric van market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Volkswagen Commercial Vehicles AG, Renault, Peugeot SA, Renault-Nissan-Mitsubishi Alliance, Ford Motor Co., Mercedes-Benz, Stellantis NV, Rivian, Tata Motors, MG Motor India, Mahindra & Mahindra, Hyundai Motor India, and Kia India
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global electric van market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Market Segmentation
- Propulsion Type Insights (Revenue, USD, 2019 - 2031)
- Fuel Cell Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Battery Electric Vehicle
- Vehicle Type Insights (Revenue, USD, 2019 - 2031)
- Two-Wheelers
- Passenger Cars
- Commercial Vehicles
- Speed Insights (Revenue, USD, 2019 - 2031)
- Less Than 100 MPH
- 100 to 125 MPH
- More Than 125 MPH
- Regional Insights (Revenue, USD, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- Volkswagen Commercial Vehicles AG
- Renault
- Peugeot SA
- Renault-Nissan-Mitsubishi Alliance
- Ford Motor Co.
- Mercedes-Benz
- Stellantis NV
- Rivian
- Tata Motors
- MG Motor India
- Mahindra & Mahindra
- Hyundai Motor India
- Kia India
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Propulsion Type
- Market Snippet, By Vehicle Type
- Market Snippet, By Speed
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER's Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Recent Developments/Updates
- Industry Trend
4. Global Electric Van Market - Impact of Coronavirus (COVID-19) Pandemic
- Overview
- Factors Affecting the Global Electric Van Market - COVID-19
- Impact Analysis
5. Global Electric Van Market, By Propulsion Type, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Fuel Cell Electric Vehicle
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Plug-in Hybrid Electric Vehicle
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Battery Electric Vehicle
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
6. Global Electric Van Market, By Vehicle Type, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Two-Wheelers
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Passenger Cars
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Commercial Vehicles
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
7. Global Electric Van Market, By Speed, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Less Than 100 MPH
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- 100 to 125 MPH
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- More Than 125 MPH
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
8. Global Electric Van Market, By Region, 2019 - 2031, Value (USD Bn)
- Introduction
- Market Share Analysis, By Region, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- North America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Propulsion Type, 2019 - 2031, Value (USD BN)
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD BN)
- Market Size and Forecast, By Speed, 2019 - 2031, Value (USD BN)
- Countries
- Latin America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Chair Type, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Distribution Channel, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By End User, 2019- 2031 (US$ Bn)
- Countries
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Chair Type, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Distribution Channel, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By End User, 2019- 2031 (US$ Bn)
- Countries
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Chair Type, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Distribution Channel, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By End User, 2019- 2031 (US$ Bn)
- Countries
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Chair Type, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Distribution Channel, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By End User, 2019- 2031 (US$ Bn)
- Sub-regions/Countries
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Chair Type, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Distribution Channel, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By End User, 2019- 2031 (US$ Bn)
- Regions/Countries
- South Africa
- North Africa
- Central Africa
9. Competitive Landscape
- Volkswagen Commercial Vehicles AG
- Company Highlights
- Product Portfolio
- Recent Developments/Updates
- Renault
- Company Highlights
- Product Portfolio
- Recent Developments/Updates
- Peugeot SA
- Company Highlights
- Product Portfolio
- Recent Developments/Updates
- Renault-Nissan-Mitsubishi Alliance
- Company Highlights
- Product Portfolio
- Recent Developments/Updates
- Ford Motor Co.
- Company Highlights
- Product Portfolio
- Recent Developments/Updates
- Mercedes-Benz
- Company Highlights
- Product Portfolio
- Recent Developments/Updates
- Stellantis NV
- Company Highlights
- Product Portfolio
- Recent Developments/Updates
- Rivian
- Company Highlights
- Product Portfolio
- Recent Developments/Updates
- Tata Motors
- Company Highlights
- Product Portfolio
- Recent Developments/Updates
- MG Motor India
- Company Highlights
- Product Portfolio
- Recent Developments/Updates
- Mahindra & Mahindra
- Company Highlights
- Product Portfolio
- Recent Developments/Updates
- Financial Performance
- Strategies
- Hyundai Motor India
- Company Highlights
- Product Portfolio
- Recent Developments/Updates
- Kia India
- Company Highlights
- Product Portfolio
- Recent Developments/Updates
10. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
11. References and Research Methodology
- References
- Research Methodology
- About us