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In 2022, the global market for electric vans was worth USD 16.61 billion, and it is expected to expand to USD 126.12 billion by 2030, registering a CAGR of 23.10% between 2023 and 2030.
Increasing demand and adoption of E-van for business reasons are the main factors driving the market. Since these vehicles have widespread application in sectors as diverse as logistics, e-commerce, and public transit, rising logistics and e-commerce operations are expected to propel the market in the years ahead (2023-2030). The van's battery provides the electricity to power the motor, thus it produces no harmful emissions. The e-van has a powerful motor and a huge lithium-ion battery pack. The lithium-ion battery has a DC output, whereas electric vehicles use AC motors for propulsion. Because of this, a DC-to-three-phase AC converter is also required. Hybrids are the name given to electric vans that also have a petrol engine. When the battery power in a hybrid car is low, the vehicle can still be driven by the engine, but this allows the driver to save the battery for use in urban areas.
Rising demand for environmentally friendly vehicles in developed nations like China, Germany, the United Kingdom, South Korea, and Japan has fueled the global electric van industry. Many countries, including India, Canada, Australia, Mexico, and other emerging countries, are just at the beginning stages of adopting the eVan. From 2023 to 2030, the global market for environmentally friendly automobiles is expected to grow due to increased consumer demand.
Report Coverage
Global Electric Van research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Electric Van report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Electric Van competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Electric Van market players and analyses their core competencies in each global market sub-segments.
EFFECTIVE CAUSES
Due to their low transportation costs, environmental friendliness, and lower maintenance costs compared to ICE vehicles, electric vans are growing in popularity. These trucks, which can be propelled in a variety of ways (such as by batteries or gasoline/electric hybrids), are slowly making their way into the international market. Sales of new electric vehicles have increased steadily every year, from 1,600 in 2010 to an expected 185,900 units in 2021. The market is being propelled by the development of monitoring systems and enhanced vehicle connectivity systems for electric vehicles. In addition, businesses whose main focus is on providing better and more efficient propulsion systems for enhanced vans will greatly contribute to market expansion. Mercedes-Benz Vans, for instance, declared its intention to construct the world's first all-electric assembly factory in Jawor, Poland, in December 2022. Manufacturing of combustion engines began at Jawor in 2019, and battery systems will follow in 2021 for Mercedes-Benz Cars. This evolution is what's pushing the market forward.
CAUSES OF RESTRICTIONS
Costs for electric commercial vehicles like vans are higher than those for internal combustion engine cars. The battery and gearbox units have a significant impact on the total cost. The range of electric vans has an effect on the cost of their components. Due to reduced battery density, these cars typically have a range of between 100 and 300 miles. The expansion of the market could be stunted by this factor. The company is dedicated to improving battery-powered commercial vans, which will lower production and retail prices and extend their range. For instance, in 2021, General Motors launched a new company called BrightDrop, which aims to help distribution and logistics companies improve their operations by providing them with an ecosystem of electric first-to-last-mile products, services, and software. The 2,200-pound payload capacity of the BrightDrop van makes it ideal for the rapid transport of packages and the provision of services. During the global epidemic of COVID-19, the price of raw materials for electric vehicles rose. Both established automakers like GM and Tesla, and up-and-coming ones like Lucid and Rivian, have recently increased the pricing of their newest models by large margins. In just two years, the price of an electric vehicle has gone from around $2,000 to $4,500.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Electric Van market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Electric Van market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
• Mercedes-Benz Group AG
• BYD Company Ltd.
• General Motors
• Renault
• Volkswagen Group
• Toyota Motor Corporation
• Hyundai Motor Company
• Honda Motor Company Ltd.
• Nissan Motor Co. Ltd.
• Stellantis N.V.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Electric Van market based on the below-mentioned segments:
Global Electric Van Market, By Propulsion Type
Global Electric Van market, By Range
Global Electric Van Market, By Battery Capacity
Global Electric Van Market, By Component
Global Electric Van market, Regional Analysis
Increasing demand and adoption of E-van for business reasons are the main factors driving the market. Since these vehicles have widespread application in sectors as diverse as logistics, e-commerce, and public transit, rising logistics and e-commerce operations are expected to propel the market in the years ahead (2023-2030). The van's battery provides the electricity to power the motor, thus it produces no harmful emissions. The e-van has a powerful motor and a huge lithium-ion battery pack. The lithium-ion battery has a DC output, whereas electric vehicles use AC motors for propulsion. Because of this, a DC-to-three-phase AC converter is also required. Hybrids are the name given to electric vans that also have a petrol engine. When the battery power in a hybrid car is low, the vehicle can still be driven by the engine, but this allows the driver to save the battery for use in urban areas.
Rising demand for environmentally friendly vehicles in developed nations like China, Germany, the United Kingdom, South Korea, and Japan has fueled the global electric van industry. Many countries, including India, Canada, Australia, Mexico, and other emerging countries, are just at the beginning stages of adopting the eVan. From 2023 to 2030, the global market for environmentally friendly automobiles is expected to grow due to increased consumer demand.
Report Coverage
Global Electric Van research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Electric Van report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Electric Van competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Electric Van market players and analyses their core competencies in each global market sub-segments.
EFFECTIVE CAUSES
Due to their low transportation costs, environmental friendliness, and lower maintenance costs compared to ICE vehicles, electric vans are growing in popularity. These trucks, which can be propelled in a variety of ways (such as by batteries or gasoline/electric hybrids), are slowly making their way into the international market. Sales of new electric vehicles have increased steadily every year, from 1,600 in 2010 to an expected 185,900 units in 2021. The market is being propelled by the development of monitoring systems and enhanced vehicle connectivity systems for electric vehicles. In addition, businesses whose main focus is on providing better and more efficient propulsion systems for enhanced vans will greatly contribute to market expansion. Mercedes-Benz Vans, for instance, declared its intention to construct the world's first all-electric assembly factory in Jawor, Poland, in December 2022. Manufacturing of combustion engines began at Jawor in 2019, and battery systems will follow in 2021 for Mercedes-Benz Cars. This evolution is what's pushing the market forward.
CAUSES OF RESTRICTIONS
Costs for electric commercial vehicles like vans are higher than those for internal combustion engine cars. The battery and gearbox units have a significant impact on the total cost. The range of electric vans has an effect on the cost of their components. Due to reduced battery density, these cars typically have a range of between 100 and 300 miles. The expansion of the market could be stunted by this factor. The company is dedicated to improving battery-powered commercial vans, which will lower production and retail prices and extend their range. For instance, in 2021, General Motors launched a new company called BrightDrop, which aims to help distribution and logistics companies improve their operations by providing them with an ecosystem of electric first-to-last-mile products, services, and software. The 2,200-pound payload capacity of the BrightDrop van makes it ideal for the rapid transport of packages and the provision of services. During the global epidemic of COVID-19, the price of raw materials for electric vehicles rose. Both established automakers like GM and Tesla, and up-and-coming ones like Lucid and Rivian, have recently increased the pricing of their newest models by large margins. In just two years, the price of an electric vehicle has gone from around $2,000 to $4,500.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Mercedes-Benz Group AG, BYD Company Ltd., General Motors, Renault, Volkswagen Group, Toyota Motor Corporation, Hyundai Motor Company, Honda Motor Company Ltd., Nissan Motor Co. Ltd., Stellantis N.V. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Electric Van Market from 2021 to 2030.
- Market Forecast for Electric Van Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Electric Van competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Electric Van
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Electric Van market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Electric Van market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
• Mercedes-Benz Group AG
• BYD Company Ltd.
• General Motors
• Renault
• Volkswagen Group
• Toyota Motor Corporation
• Hyundai Motor Company
• Honda Motor Company Ltd.
• Nissan Motor Co. Ltd.
• Stellantis N.V.
Primary Target Market
- Market Players of Electric Van
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Electric Van market based on the below-mentioned segments:
Global Electric Van Market, By Propulsion Type
- Battery Electric Vehicle (BEV)
- Hybrid Vehicle (HEV)
- type3
Global Electric Van market, By Range
- Up to 100 Miles
- 100-200 Miles
- Above 200 Miles
Global Electric Van Market, By Battery Capacity
- Up to 50 kWh
- Above 50 kWh
Global Electric Van Market, By Component
- Traction Battery Pack
- Powertrain
Global Electric Van market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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