Electric Van Market

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Electric Van Market by Range (up to 100 miles, 100-200 miles, & above 200 miles), Battery Capacity (up to 50 kWh & above 50 kWh), Battery Type, Propulsion (BEV, FCEV, & PHEV), End Use and Region - Global Forecast to 2030

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Report Code: AT 8502 Nov, 2022, by marketsandmarkets.com

[195 Pages Report] The global electric van market was valued at 106.8 thousand units in 2022 and is expected to reach 1,082.9 thousand units by 2030 at a CAGR of 33.6 % during the forecast period 2022-2030. Countries like the US, Japan, China, Germany, and the UK have a significant share of electric vans due to rising demand for environment-friendly vehicles. However, in India, South Korea, and other developing countries, electric vans are still at the initial stage of adoption. The lack of charging stations and the high cost of electric vans can hinder the market’s growth in these countries. The electric van market growth is significantly being fueled by the rising demand from the Europe region.

Europe has stringent emission regulation standards, and the governments of countries in this region are providing huge incentives to promote electric vehicles. As a result, the demand for electric vans has increased tremendously in the region. Electric vans are extensively used in various sectors, such as logistics, e-commerce, and public transportation.

Electric Van Market

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Driver: Increasing demand for emission-free and energy-efficient mass transit solutions

The transport sector is one of the largest contributors to global greenhouse gas (GHG) emissions. According to the United Nations Environment Program (UNEP), the transport sector contributes around one-quarter of greenhouse gas (GHG) emissions and is one of the largest sources of air pollution. Vehicle emissions are responsible for discharging 29% of ozone-depleting substances that bring air pollution and are dangerous to the atmosphere. Various governments across the globe have introduced initiatives to make their urban public transport system more sustainable and fuel-efficient with the use of electric vans. The introduction of electric vans will change mass transit worldwide in the coming years by improving air quality, reducing noise levels, and increasing fuel efficiency.

Restraint: Low vehicle range hampers long-distance logistics

Many electric commercial vehicle fleet owners are concerned about the range or distance covered in a single charge. The driving range of electric vans is shorter than that of ICE commercial vans. Many ECVs cover distances between 80 miles and 120 miles because of the low energy density of batteries. The maximum coverage of an ECV is ~300 miles. Users prefer covering long distances without interruptions, especially for long trips, and a long-range EV is significantly high priced. This factor could inhibit the growth of the electric van market. Various R&D efforts are undertaken to reduce the space required for housing and contacts so that more batteries can be accommodated, and the van range can be increased to approximately 600 miles. FCEVs have a huge opportunity for electric vans due to the less demand for frequent charging (which hampers commercial use in many cases).

Opportunity: Government support for electrification of public transport

In order to drive the commitment to reduce greenhouse gas (GHG) emissions and improve air quality in urban areas, governments across the globe have been providing lucrative fiscal incentives to promote shared mobility and clean transportation. Governments across the globe have launched attractive initiatives and schemes to facilitate the adoption of electric vehicles. Governments in developed countries have begun the tender process to increase the use of electric vans in their cities. For instance, as of March 2022, Royal Mail conducted its delivery using 3,000 electric vans. The roll-out largely follows cities with low-emission zones, including London, Bristol, Glasgow, Cambridge, and Oxford. The induction of e-vans will add to the emission reduction commitments at the local level. The benefits will be much greater with the simultaneous greening of electricity generation in highly populated cities like China, Japan, and India.

Challenge: Lack of charging infrastructure

The growth of the electric van market has been restrained due to the limited availability of supporting infrastructure. Every electric vehicle periodically requires a battery charging facility. Charging infrastructure is installed in urban areas in Europe, North America, and other developed regions. However, the number of charging stations is insufficient. The number of charging stations in Eastern Europe is lesser than that in Northern Europe. In Asia Pacific, China is leading in terms of the availability of charging stations. The time taken to recharge a vehicle further adds to the inconvenience. As of 2022, only a few companies provide fast chargers. As chargers are available in different designs and every charger uses a different connector, finding a suitable charger can be cumbersome. The lack of charging infrastructure is a major problem in developing economies such as India, South Africa, and South Korea. India has adequate infrastructure for internal combustion engine vehicles with as many as 77,000 fuel stations across the country.

Increasing focus on healthcare facilities to drive electric van market for field services

Field services include maintenance, installation, or repair of hardware equipment at the customer’s site. These services are required in sectors such as gas utilities (to repair suspected leaks), healthcare, property maintenance, HVAC (for installation management), telecommunications (for cable installation or other issues), transportation, heavy engineering, and mining. Companies are keen on adopting electric commercial vehicles such as electric vans for daily field operations, maintenance, repair, other field services, and replacing diesel fleets. In March 2022, London Electric Vehicle Company announced its plan to supply 22 VN5 electric vans to Sunbelt Rentals for fleet operations.

Asia Pacific to be major contributor to electric van market growth

Governments in the Asia Pacific region have recognized the growth potential of the automotive industry and have consequently taken different initiatives to encourage major OEMs to enter their domestic markets. Several European and American automobile manufacturers, such as Volkswagen (Germany), Mercedes Benz (Germany), and General Motors (US), have shifted their production plants to emerging economies. Hence, the electric van market will grow. The Chinese government is also encouraging state governments and public organizations to increase the use of electric vehicles for logistics purposes to more than 50% by 2025. In India, the market is at a nascent stage. However, the government is undertaking various initiatives to promote the use and sale of electric vehicles. These include the National Electric Mobility Mission Plan (NEMMP) and Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME).

Electric Van Market Size, and Share

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Key Market Players

The key players considered in the analysis of the electric van market are General Motors (US), Renault (France), Toyota Motor Corporation (Japan), BYD (China), and Ford Motor Company (US). These companies offer extensive products for the automotive industry and have strong distribution networks, and they invest heavily in R&D to develop new products.

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Scope of the Report

Report Metric	Details
Market Revenue in 2022	106.8 thousand units
Estimated Value by 2027	1,082.9 thousand units
Growth Rate	Poised to grow at a CAGR of 33.6%
Market Segmentation	By range (up to 100 miles, 100-200 miles, and above 200 miles), battery capacity (up to 50 kWh and above 50 kWh), battery type, propulsion, and end use
Market Driver	Increasing demand for emission-free and energy-efficient mass transit solutions
Market Opportunity	Government support for electrification of public transport
Geographies covered	North America, Europe, Asia Pacific, and Rest of the World

This research report categorizes the electric van market based on range, battery capacity, battery type, propulsion, end use, and region

By Range

Up to 100 Miles
100–200 Miles
Above 200 Miles

By Battery Capacity

Up to 50 kWh
Above 50 kWh

By Battery Type

Nickel Manganese Cobalt
Lithium-Ion
Others

By Propulsion

BEV
FCEV
PHEV

By End Use

Last Mile Delivery
Refrigerated Services
Field Services
Distribution Services

By Region

North America
Asia Pacific
Europe

Recent Developments

In May 2022, Ford Motor Company launched E-Transit in Europe with a range of 236 miles.
In October 2021, BYD launched ETP3 Panel Van with a load capacity of 780 kg and a driving range of 275 km. It is also equipped with a 44.9 kWh battery, a 35 kW rated electric motor, and a top speed of 100 km/hour.
In April 2021, Toyota Motor Corporation launched the Proace Electric van which offers a battery capacity of 75 kWh and a range of 175 km.

Frequently Asked Questions (FAQ):

What is the market for electric vans?

The global electric van market was valued at 106.8 thousand units in 2022 and is expected to reach 1,082.9 thousand units by 2030 at a CAGR of 33.6 % during the forecast period 2022-2030.

Who are the major players in the electric van market?

General Motors (US), Renault (France), Toyota Motor Corporation (Japan), BYD (China), and Ford Motor Company (US) are recognized as stars in the electric van market. They have a strong portfolio of electric vans. These companies offer advanced electric vehicles, coupled with their robust business strategies, to achieve constant growth in the electric van market. They also have a strong presence across the globe.

What are the new market trends impacting the growth of the electric van market?

The electric van market has witnessed rapid evolution with ongoing developments in engineering and technology. Technological advancements, such as battery swapping, the use of high-performance batteries, and high motor power, have boosted the demand for electric vans.

Which regions are considered in the electric van market?

The report covers market sizing for regions such as Asia Pacific, Europe, and North America. .

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 18)

1.1 STUDY OBJECTIVES

1.2 MARKET DEFINITION

1.2.1 ELECTRIC VAN MARKET, BY END USE

1.2.2 MARKET, BY PROPULSION

1.2.3 MARKET, BY BATTERY TYPE

1.3 MARKET: INCLUSIONS AND EXCLUSIONS

1.4 MARKET SCOPE

1.4.1 MARKETS COVERED

FIGURE 1 MARKET SEGMENTATION

1.4.2 YEARS CONSIDERED

1.5 CURRENCY CONSIDERED

TABLE 1 CURRENCY EXCHANGE RATES (PER USD)

1.6 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 23)

2.1 RESEARCH DATA

FIGURE 2 ELECTRIC VAN MARKET: RESEARCH DESIGN

2.1.1 SECONDARY DATA

2.1.1.1 Key data from secondary sources

2.1.1.2 List of secondary sources

2.1.2 PRIMARY DATA

2.1.2.1 Key data from primary sources

2.1.2.2 List of participating companies for primary research

2.1.2.3 Key industry insights

2.1.2.4 Breakdown of primary interviews

FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY, DESIGNATION, AND REGION

2.2 MARKET SIZE ESTIMATION

FIGURE 4 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH

2.2.1 BOTTOM-UP APPROACH

FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY FOR MARKET: BOTTOM-UP APPROACH

2.2.2 TOP-DOWN APPROACH

FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY FOR MARKET: TOP-DOWN APPROACH

2.3 FACTOR ANALYSIS

2.3.1 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES

2.4 DATA TRIANGULATION

FIGURE 7 DATA TRIANGULATION

2.5 ASSUMPTIONS

2.6 RISK ASSESSMENT

2.7 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 34)

FIGURE 8 ELECTRIC VAN MARKET: MARKET DYNAMICS

FIGURE 9 MARKET, BY REGION, 2022 VS. 2030 (UNITS)

FIGURE 10 MARKET, BY PROPULSION, 2022 VS. 2030 (UNITS)

4 PREMIUM INSIGHTS (Page No. - 37)

4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ELECTRIC VAN MARKET

FIGURE 11 INCREASED GOVERNMENT SUBSIDIES FOR ELECTRIC VEHICLES TO DRIVE MARKET

4.2 MARKET, BY PROPULSION

FIGURE 12 BEV PROJECTED TO BE LARGER MARKET (2022–2030) (UNITS)

4.3 MARKET, BY BATTERY CAPACITY

FIGURE 13 ABOVE 50 KWH PROJECTED TO BE LARGEST SEGMENT IN MARKET (2022–2030) (UNITS)

4.4 MARKET, BY END USE

FIGURE 14 LAST MILE DELIVERY SEGMENT TO HAVE HIGHEST GROWTH DURING FORECAST PERIOD (UNITS)

4.5 MARKET, BY BATTERY TYPE

FIGURE 15 LITHIUM-ION SEGMENT TO ACQUIRE LARGER MARKET SHARE, (2022–2030) (UNITS)

4.6 MARKET, BY RANGE

FIGURE 16 100–200 MILES SEGMENT PROJECTED TO BE LARGER SEGMENT OF MARKET, (2022–2030) (UNITS)

4.7 MARKET, BY REGION

FIGURE 17 ASIA PACIFIC ESTIMATED TO ACCOUNT FOR LARGEST MARKET SHARE IN 2022

5 MARKET OVERVIEW (Page No. - 41)

5.1 INTRODUCTION

FIGURE 18 ROLE OF STARTUPS IN ELECTRIC VEHICLE ECOSYSTEM

TABLE 2 IMPACT OF MARKET DYNAMICS

5.2 MARKET DYNAMICS

FIGURE 19 ELECTRIC VAN MARKET: MARKET DYNAMICS

5.2.1 DRIVERS

5.2.1.1 Increased demand for emission-free and energy-efficient mass transit solutions

FIGURE 20 EU E-VANS EMISSION TARGETS FOR 2027

5.2.1.2 Reduction in battery prices

FIGURE 21 DECLINE IN BATTERY PRICE/KWH, 2010–2020

5.2.1.3 Lower emissions compared to other vehicles

5.2.2 RESTRAINTS

5.2.2.1 High development cost

5.2.2.2 Concerns over battery safety

FIGURE 22 BATTERY SAFETY ARCHITECTURE

5.2.2.3 Lower vehicle range to hamper long-distance logistics

TABLE 3 ELECTRIC VAN DATA BASED ON RANGE

5.2.3 OPPORTUNITIES

5.2.3.1 Government support for electrification of public transport

TABLE 4 GOVERNMENT PROGRAMS TO PROMOTE EVS

5.2.3.2 Implementation of stringent emission norms and environmental regulations

TABLE 5 KEY COUNTRIES: EMISSION REGULATION SPECIFICATIONS OVERVIEW, BY FUEL TYPE, 2016–2021

5.2.3.3 Use of electric vans for fleets and commercial applications

TABLE 6 MAJOR EV FLEET TARGETS

5.2.4 CHALLENGES

5.2.4.1 Limited battery capacity

TABLE 7 BATTERY CAPACITIES OF POPULAR ELECTRIC VANS

5.2.4.2 Lack of charging infrastructure

TABLE 8 INDIA: SPECIFICATIONS OF CHARGING INFRASTRUCTURE

5.3 PORTER’S FIVE FORCES

FIGURE 23 PORTER’S FIVE FORCES: ELECTRIC VAN MARKET

TABLE 9 MARKET: IMPACT OF PORTER’S FIVE FORCES

5.3.1 THREAT OF SUBSTITUTES

5.3.2 THREAT OF NEW ENTRANTS

5.3.3 BARGAINING POWER OF BUYERS

5.3.4 BARGAINING POWER OF SUPPLIERS

5.3.5 INTENSITY OF COMPETITIVE RIVALRY

5.4 MACROECONOMIC INDICATORS

5.4.1 GDP TRENDS AND FORECAST FOR MAJOR ECONOMIES

TABLE 10 GDP TRENDS AND FORECAST, BY MAJOR ECONOMIES, 2018–2026 (USD BILLION)

5.5 MARKET ECOSYSTEM

FIGURE 24 MARKET: ECOSYSTEM ANALYSIS

5.5.1 OEM

5.5.2 RAW MATERIAL SUPPLIERS

5.5.3 COMPONENT MANUFACTURERS

5.5.4 CHARGING INFRASTRUCTURE

TABLE 11 MARKET: ROLE OF COMPANIES IN ECOSYSTEM

5.6 VALUE CHAIN ANALYSIS

FIGURE 25 VALUE CHAIN ANALYSIS

5.7 PRICING ANALYSIS

TABLE 12 MARKET: AVERAGE PRICE (USD), 2022

5.8 PATENT ANALYSIS

TABLE 13 MARKET: PATENTED DOCUMENTS ANALYSIS, BY PUBLISHED, FILED, AND GRANTED (2015–2021)

5.9 REGULATORY OVERVIEW

5.9.1 NORTH AMERICA

TABLE 14 NORTH AMERICA: POLICIES AND INITIATIVES SUPPORTING HYDROGEN-POWERED VEHICLES AND HYDROGEN INFRASTRUCTURE

5.9.2 EUROPE

TABLE 15 EUROPE: POLICIES AND INITIATIVES SUPPORTING HYDROGEN-POWERED VEHICLES AND HYDROGEN INFRASTRUCTURE

5.9.3 ASIA PACIFIC

TABLE 16 ASIA PACIFIC: POLICIES AND INITIATIVES SUPPORTING HYDROGEN-POWERED VEHICLES AND HYDROGEN INFRASTRUCTURE

5.10 CASE STUDIES

5.10.1 ADOPTION OF ELECTRIC MOBILITY FOR PUBLIC TRANSPORT IN INDIA

5.10.2 ELECTRIC VEHICLE FLEETS IN PUBLIC SECTOR

5.11 TRENDS AND DISRUPTIONS IN MARKET

FIGURE 26 TRENDS AND DISRUPTIONS IN MARKET

5.12 TECHNOLOGY ANALYSIS

5.12.1 SMART CHARGING SYSTEM

FIGURE 27 SMART EV CHARGING SYSTEM

5.12.2 IOT IN ELECTRIC VEHICLES

5.12.3 PACKAGED FUEL CELL SYSTEM MODULES

FIGURE 28 NEW PACKAGED FUEL CELL SYSTEM MODULE BY TOYOTA

5.12.4 METHANE FUEL CELLS

5.13 KEY STAKEHOLDERS AND BUYING CRITERIA

5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS

TABLE 17 INFLUENCE OF INSTITUTIONAL BUYERS ON PURCHASE OF ELECTRIC VANS

5.13.2 BUYING CRITERIA

5.14 DETAILED LIST OF CONFERENCES AND EVENTS, 2022–2023

TABLE 18 ELECTRIC VAN MARKET: DETAILED LIST OF CONFERENCES AND EVENTS

5.15 LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS

TABLE 19 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS

TABLE 20 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS

TABLE 21 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS

5.16 MARKET, SCENARIOS (2022–2030)

5.16.1 MARKET, MOST LIKELY SCENARIO

TABLE 22 MARKET (MOST LIKELY), BY REGION, 2022–2030 (UNITS)

5.16.2 MARKET, OPTIMISTIC SCENARIO

TABLE 23 MARKET (OPTIMISTIC), BY REGION, 2022–2030 (UNITS)

5.16.3 MARKET, PESSIMISTIC SCENARIO

TABLE 24 MARKET (PESSIMISTIC), BY REGION, 2022–2030 (UNITS)

6 ELECTRIC VAN MARKET, BY RANGE (Page No. - 76)

6.1 INTRODUCTION

FIGURE 29 ABOVE 200 MILES SEGMENT TO REGISTER HIGHER CAGR

TABLE 25 MARKET, BY RANGE, 2018–2021 (UNITS)

TABLE 26 MARKET, BY RANGE, 2022–2030 (UNITS)

6.1.1 OPERATIONAL DATA

TABLE 27 ELECTRIC VAN DATA BASED ON RANGE

6.1.2 ASSUMPTIONS

TABLE 28 ASSUMPTIONS: BY RANGE

6.1.3 RESEARCH METHODOLOGY

6.2 UP TO 100 MILES

6.2.1 AFFORDABLE ELECTRIC VANS TO BOOST SEGMENT

TABLE 29 UP TO 100 MILES ELECTRIC VAN MARKET, BY REGION, 2018–2021 (UNITS)

TABLE 30 UP TO 100 MILES ELECTRIC VAN MARKET, BY REGION, 2022–2030 (UNITS)

6.3 100–200 MILES

6.3.1 AIDS LONG-DISTANCE TRANSPORT

TABLE 31 100–200 MILES ELECTRIC VAN MARKET, BY REGION, 2018–2021 (UNITS)

TABLE 32 100–200 MILES ELECTRIC VAN MARKET, BY REGION, 2022–2030 (UNITS)

6.4 ABOVE 200 MILES

6.4.1 ADVANCED BATTERY TECHNOLOGY

TABLE 33 ABOVE 200 MILES ELECTRIC VAN MARKET, BY REGION, 2022–2030 (UNITS)

6.5 KEY PRIMARY INSIGHTS

7 ELECTRIC VAN MARKET, BY BATTERY TYPE (Page No. - 83)

7.1 INTRODUCTION

FIGURE 30 LITHIUM-ION TO DOMINATE MARKET DURING FORECAST PERIOD

TABLE 34 MARKET, BY BATTERY TYPE, 2018–2021 (UNITS)

TABLE 35 MARKET, BY BATTERY TYPE, 2022–2030 (UNITS)

7.1.1 OPERATIONAL DATA

TABLE 36 ELECTRIC VAN DATA, BATTERY TYPE

7.1.2 ASSUMPTIONS

7.1.3 RESEARCH METHODOLOGY

7.2 NICKEL MANGANESE COBALT

7.2.1 LOW COST AND HIGHER LIFE CYCLE OF NICKEL CELLS TO DRIVE MARKET

TABLE 37 NICKEL MANGANESE COBALT BATTERIES MARKET, BY REGION, 2018–2021 (UNITS)

TABLE 38 NICKEL MANGANESE COBALT BATTERIES MARKET, BY REGION, 2022–2030 (UNITS)

7.3 LITHIUM-ION

7.3.1 LOW COST OF LITHIUM-ION BATTERIES TO DRIVE MARKET

TABLE 39 LITHIUM-ION BATTERIES MARKET, BY REGION, 2018–2021 (UNITS)

TABLE 40 LITHIUM-ION BATTERIES MARKET, BY REGION, 2022–2030 (UNITS)

7.4 OTHERS

7.4.1 DEVELOPMENT OF HIGH ENERGY DENSITY AND LOW WEIGHT BATTERIES TO DRIVE MARKET

TABLE 41 OTHER BATTERIES MARKET, BY REGION, 2018–2021 (UNITS)

TABLE 42 OTHER BATTERIES MARKET, BY REGION, 2022–2030 (UNITS)

7.5 KEY INDUSTRY INSIGHTS

8 ELECTRIC VAN MARKET, BY END USE (Page No. - 90)

8.1 INTRODUCTION

FIGURE 31 LAST MILE DELIVERY MARKET SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD

TABLE 43 MARKET, BY END USE, 2018–2021 (UNITS)

TABLE 44 MARKET, BY END USE, 2022–2030 (UNITS)

8.1.1 OPERATIONAL DATA

TABLE 45 ELECTRIC VAN DATA, END USE

8.1.2 ASSUMPTIONS

8.1.3 RESEARCH METHODOLOGY

8.2 LAST MILE DELIVERY

8.2.1 PRESENCE OF E-COMMERCE COMPANIES TO BOOST MARKET

8.3 FIELD SERVICES

8.3.1 INCREASED USE IN HEALTHCARE FACILITIES

8.4 DISTRIBUTION SERVICES

8.4.1 GROWTH OF LOGISTICS SECTOR TO DRIVE MARKET

8.5 REFRIGERATED SERVICES

8.5.1 NEED TO DISTRIBUTE GOODS AT SPECIFIC TEMPERATURES TO FUEL MARKET

8.6 KEY INDUSTRY INSIGHTS

9 ELECTRIC VAN MARKET, BY BATTERY CAPACITY (Page No. - 96)

9.1 INTRODUCTION

FIGURE 32 ABOVE 50 KWH SEGMENT TO LEAD MARKET

TABLE 46 MARKET, BY BATTERY CAPACITY, 2018–2021 (UNITS)

TABLE 47 MARKET, BY BATTERY CAPACITY, 2022–2030 (UNITS)

9.1.1 OPERATIONAL DATA

TABLE 48 ELECTRIC VAN VEHICLE MODELS, BY BATTERY CAPACITY

9.1.2 ASSUMPTIONS

TABLE 49 ASSUMPTIONS: BY BATTERY CAPACITY

9.1.3 RESEARCH METHODOLOGY

9.2 UP TO 50 KWH

9.2.1 INTRACITY DELIVERY USING ELECTRIC VANS TO DRIVE SEGMENT

TABLE 50 UP TO 50 KWH: MARKET, BY REGION, 2018–2021 (UNITS)

TABLE 51 UP TO 50 KWH: MARKET, BY REGION, 2022–2030 (UNITS)

9.3 ABOVE 50 KWH

9.3.1 HEAVY-DUTY ELECTRIC VANS TO LEAD MARKET

TABLE 52 ABOVE 50 KWH: MARKET, BY REGION, 2018–2021 (UNITS)

TABLE 53 ABOVE 50 KWH: MARKET, BY REGION, 2022–2030 (UNITS)

9.4 KEY INDUSTRY INSIGHTS

10 ELECTRIC VAN MARKET, BY PROPULSION (Page No. - 103)

10.1 INTRODUCTION

FIGURE 33 BEV SEGMENT TO ACQUIRE MAJOR MARKET SHARE DURING FORECAST PERIOD

TABLE 54 MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 55 MARKET, BY PROPULSION, 2022–2030 (UNITS)

10.1.1 OPERATIONAL DATA

TABLE 56 ELECTRIC VAN DATA BASED ON PROPULSION TYPE

10.1.2 ASSUMPTIONS

10.1.3 RESEARCH METHODOLOGY

10.2 BEV

10.2.1 INCREASED DEMAND FOR ZERO-EMISSION VEHICLES TO BOOST SEGMENT

TABLE 57 BEV MARKET, BY REGION, 2018–2021 (UNITS)

TABLE 58 BEV MARKET, BY REGION, 2022–2030 (UNITS)

10.3 FCEV

10.3.1 SHIFT TOWARD FUEL CELL ELECTRIC VEHICLES TO DRIVE SEGMENT

TABLE 59 FCEV MARKET, BY REGION, 2022–2030 (UNITS)

10.4 PHEV

10.4.1 IMPROVEMENT IN CHARGING INFRASTRUCTURE TO DRIVE SEGMENT

TABLE 60 PHEV MARKET, BY REGION, 2018–2021 (UNITS)

TABLE 61 PHEV MARKET, BY REGION, 2022–2030 (UNITS)

10.5 KEY INDUSTRY INSIGHTS

11 ELECTRIC VAN MARKET, BY REGION (Page No. - 110)

11.1 INTRODUCTION

FIGURE 34 EUROPE TO ACCOUNT FOR LARGEST SIZE OF ELECTRIC VAN MARKET, 2022 VS. 2030 (UNITS)

TABLE 62 MARKET, BY REGION, 2018–2021 (UNITS)

TABLE 63 MARKET, BY REGION, 2022–2030 (UNITS)

11.2 ASIA PACIFIC

TABLE 64 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2021 (UNITS)

TABLE 65 ASIA PACIFIC: MARKET, BY COUNTRY, 2022–2030 (UNITS)

FIGURE 35 ASIA PACIFIC: MARKET SNAPSHOT

11.2.1 CHINA

11.2.1.1 High production of vehicles to boost market

TABLE 66 CHINA: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 67 CHINA: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.2.2 JAPAN

11.2.2.1 Driven by technological advancements

TABLE 68 JAPAN: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 69 JAPAN: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.2.3 SOUTH KOREA

11.2.3.1 Increased investments in electric vehicles

TABLE 70 SOUTH KOREA: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 71 SOUTH KOREA: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.2.4 INDIA

11.2.4.1 Increased market for last mile delivery

TABLE 72 INDIA: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.3 EUROPE

TABLE 73 EUROPE: MARKET, BY COUNTRY, 2018–2021 (UNITS)

TABLE 74 EUROPE: MARKET, BY COUNTRY, 2022–2030 (UNITS)

11.3.1 GERMANY

11.3.1.1 Presence of major players

TABLE 75 GERMANY: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 76 GERMANY: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.3.2 UK

11.3.2.1 Investments in ultra-low emission vehicles

TABLE 77 UK: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 78 UK: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.3.3 NETHERLANDS

11.3.3.1 Heavy investments by OEMs to increase production bases

TABLE 79 NETHERLANDS: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 80 NETHERLANDS: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.3.4 NORWAY

11.3.4.1 Logistics industry to replace conventional means of transport with electric vans

TABLE 81 NORWAY: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 82 NORWAY: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.3.5 FRANCE

11.3.5.1 Purchase grants by government

TABLE 83 FRANCE: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 84 FRANCE: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.3.6 ITALY

11.3.6.1 Government focus on greener vehicles

TABLE 85 ITALY: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 86 ITALY: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.3.7 DENMARK

11.3.7.1 Government promotion of private infrastructure

TABLE 87 DENMARK: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 88 DENMARK: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.3.8 PORTUGAL

11.3.8.1 Expansion of electric vehicle charging infrastructure

TABLE 89 PORTUGAL: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 90 PORTUGAL: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.3.9 IRELAND

11.3.9.1 Presence of popular e-van manufacturers

TABLE 91 IRELAND: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 92 IRELAND: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.3.10 BELGIUM

11.3.10.1 High adoption rate of electric commercial vehicles

TABLE 93 BELGIUM: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 94 BELGIUM: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.3.11 SWITZERLAND

11.3.11.1 Increased awareness of vehicle emissions

TABLE 95 SWITZERLAND: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 96 SWITZERLAND: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.3.12 AUSTRIA

11.3.12.1 Increasing postal services

TABLE 97 AUSTRIA: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 98 AUSTRIA: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.3.13 SPAIN

11.3.13.1 Increasing market for B2C services

TABLE 99 SPAIN: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 100 SPAIN: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.3.14 SWEDEN

11.3.14.1 Increased market for refrigerated services

TABLE 101 SWEDEN: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 102 SWEDEN: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.4 NORTH AMERICA

TABLE 103 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2021 (UNITS)

TABLE 104 NORTH AMERICA: MARKET, BY COUNTRY, 2022–2030 (UNITS)

FIGURE 36 NORTH AMERICA: MARKET SNAPSHOT

11.4.1 US

11.4.1.1 Increased production capacity of electric vehicles

TABLE 105 US: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 106 US: MARKET, BY PROPULSION, 2022–2030 (UNITS)

11.4.2 CANADA

11.4.2.1 Increased use of LCVs

TABLE 107 CANADA: MARKET, BY PROPULSION, 2018–2021 (UNITS)

TABLE 108 CANADA: MARKET, BY PROPULSION, 2022–2030 (UNITS)

12 COMPETITIVE LANDSCAPE (Page No. - 138)

12.1 OVERVIEW

12.2 MARKET SHARE ANALYSIS FOR ELECTRIC VAN MARKET

TABLE 109 MARKET SHARE ANALYSIS, 2021

FIGURE 37 MARKET SHARE ANALYSIS, 2021

12.2.1 GENERAL MOTORS

12.2.2 RENAULT

12.2.3 TOYOTA MOTOR CORPORATION

12.2.4 BYD

12.2.5 FORD MOTOR COMPANY

12.3 KEY PLAYER STRATEGIES

TABLE 110 OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN MARKET

12.4 REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS

FIGURE 38 TOP PUBLIC/LISTED PLAYERS DOMINATING MARKET DURING LAST FIVE YEARS

12.5 COMPETITIVE SCENARIO

12.5.1 NEW PRODUCT LAUNCHES

TABLE 111 NEW PRODUCT LAUNCHES, 2018–2022

12.5.2 DEALS

TABLE 112 DEALS, 2018–2022

12.5.3 OTHERS

TABLE 113 OTHERS, 2018–2022

12.6 COMPANY EVALUATION QUADRANT

12.6.1 STARS

12.6.2 EMERGING LEADERS

12.6.3 PERVASIVE PLAYERS

12.6.4 PARTICIPANTS

FIGURE 39 MARKET: COMPANY EVALUATION QUADRANT, 2022

TABLE 114 MARKET: COMPANY FOOTPRINT, 2022

TABLE 115 MARKET: PRODUCT FOOTPRINT, 2022

TABLE 116 MARKET: REGIONAL FOOTPRINT, 2022

12.7 STARTUP/SME EVALUATION QUADRANT

12.7.1 PROGRESSIVE COMPANIES

12.7.2 RESPONSIVE COMPANIES

12.7.3 DYNAMIC COMPANIES

12.7.4 STARTING BLOCKS

FIGURE 40 MARKET: STARTUP/SME EVALUATION QUADRANT, 2022

TABLE 117 MARKET: DETAILED LIST OF KEY STARTUPS/SMES

TABLE 118 MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS [STARTUPS/SMES]

13 COMPANY PROFILES (Page No. - 152)

(Business overview, Products offered, Recent developments & MnM View)*

13.1 KEY PLAYERS

13.1.1 GENERAL MOTORS

TABLE 119 GENERAL MOTORS: BUSINESS OVERVIEW

FIGURE 41 GENERAL MOTORS: COMPANY SNAPSHOT

TABLE 120 GENERAL MOTORS: PRODUCTS OFFERED

TABLE 121 GENERAL MOTORS: NEW PRODUCT DEVELOPMENTS

TABLE 122 GENERAL MOTORS: DEALS

TABLE 123 GENERAL MOTORS: OTHERS

13.1.2 RENAULT

TABLE 124 RENAULT: BUSINESS OVERVIEW

FIGURE 42 RENAULT: COMPANY SNAPSHOT

TABLE 125 RENAULT: PRODUCTS OFFERED

TABLE 126 RENAULT: NEW PRODUCT DEVELOPMENTS

TABLE 127 RENAULT: DEALS

TABLE 128 RENAULT: OTHERS

13.1.3 TOYOTA MOTOR CORPORATION

TABLE 129 TOYOTA MOTOR CORPORATION: BUSINESS OVERVIEW

FIGURE 43 TOYOTA MOTOR CORPORATION: COMPANY SNAPSHOT

FIGURE 44 GLOBAL DATA BY REGION

TABLE 130 TOYOTA MOTOR CORPORATION: PRODUCTS OFFERED

TABLE 131 TOYOTA MOTOR CORPORATION: NEW PRODUCT DEVELOPMENTS

TABLE 132 TOYOTA MOTOR CORPORATION: DEALS

TABLE 133 TOYOTA MOTOR CORPORATION: OTHERS

13.1.4 BYD

TABLE 134 BYD: BUSINESS OVERVIEW

FIGURE 45 BYD: COMPANY SNAPSHOT

TABLE 135 BYD: PRODUCTS OFFERED

TABLE 136 BYD: NEW PRODUCT DEVELOPMENTS

TABLE 137 BYD: DEALS

TABLE 138 BYD: OTHERS

13.1.5 FORD MOTOR COMPANY

TABLE 139 FORD MOTOR COMPANY: BUSINESS OVERVIEW

FIGURE 46 FORD MOTOR COMPANY: COMPANY SNAPSHOT

TABLE 140 FORD MOTOR COMPANY: PRODUCTS OFFERED

TABLE 141 FORD MOTOR COMPANY: NEW PRODUCT DEVELOPMENTS

TABLE 142 FORD MOTOR COMPANY: DEALS

TABLE 143 FORD MOTOR COMPANY: OTHERS

13.1.6 NISSAN MOTOR CORPORATION

TABLE 144 NISSAN MOTOR CORPORATION: BUSINESS OVERVIEW

FIGURE 47 NISSAN MOTOR CORPORATION: COMPANY SNAPSHOT

FIGURE 48 GLOBAL VEHICLE RETAIL SALES (2021)

TABLE 145 NISSAN MOTOR CORPORATION: PRODUCTS OFFERED

TABLE 146 NISSAN MOTOR CORPORATION: NEW PRODUCT DEVELOPMENTS

TABLE 147 NISSAN MOTOR CORPORATION: DEALS

TABLE 148 NISSAN MOTOR CORPORATION: OTHERS

13.1.7 MAHINDRA & MAHINDRA LTD.

TABLE 149 MAHINDRA & MAHINDRA LTD.: BUSINESS OVERVIEW

FIGURE 49 MAHINDRA & MAHINDRA LTD.: COMPANY SNAPSHOT

FIGURE 50 MAHINDRA & MAHINDRA LTD.: MANUFACTURING PLANTS IN INDIA

FIGURE 51 MANUFACTURING FACILITIES GLOBALLY

TABLE 150 MAHINDRA & MAHINDRA LTD.: PRODUCTS OFFERED

TABLE 151 MAHINDRA & MAHINDRA LTD: DEALS

TABLE 152 MAHINDRA & MAHINDRA LTD.: OTHERS

13.1.8 IVECO

TABLE 153 IVECO: BUSINESS OVERVIEW

TABLE 154 IVECO: PRODUCTS OFFERED

TABLE 155 IVECO: NEW PRODUCT DEVELOPMENTS

TABLE 156 IVECO: DEALS

13.1.9 LONDON ELECTRIC VEHICLE COMPANY

TABLE 157 LONDON ELECTRIC VEHICLE COMPANY: BUSINESS OVERVIEW

TABLE 158 LONDON ELECTRIC VEHICLE COMPANY: PRODUCTS OFFERED

TABLE 159 LONDON ELECTRIC VEHICLE COMPANY: NEW PRODUCT DEVELOPMENTS

TABLE 160 LONDON ELECTRIC VEHICLE COMPANY: DEALS

13.1.10 FIAT

TABLE 161 FIAT: BUSINESS OVERVIEW

TABLE 162 FIAT: PRODUCTS OFFERED

TABLE 163 FIAT: NEW PRODUCT DEVELOPMENTS

TABLE 164 FIAT: DEALS

*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.

13.2 OTHER PLAYERS

13.2.1 YINLONG ENERGY

13.2.2 GOLDEN DRAGON

13.2.3 RIVIAN

13.2.4 ZENITH MOTORS

13.2.5 WORKHORSE GROUP

13.2.6 ARRIVAL

13.2.7 KINGSTAR VEHICLE CO., LTD.

13.2.8 CHANJE ENERGY

13.2.9 LIGHTNING EMOTORS

13.2.10 KING LONG

13.2.11 CHANGSHA SUNDA NEW ENERGY TECHNOLOGY CO., LTD.

14 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 188)

14.1 BATTERY ELECTRIC VEHICLES TO BE KEY FOCUS MARKET FOR ELECTRIC VANS

14.2 REFRIGERATED SERVICES SEGMENT TO BE MAJOR MARKET FOR ELECTRIC VANS

14.3 CONCLUSION

15 APPENDIX (Page No. - 189)

15.1 KEY INSIGHTS FROM INDUSTRY EXPERTS

15.2 DISCUSSION GUIDE

15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL

15.4 CUSTOMIZATION OPTIONS

15.5 RELATED REPORTS

15.6 AUTHOR DETAILS

The study involved four major activities in estimating the current size of the electric van market. Exhaustive secondary research was carried out to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as company annual reports/presentations, press releases, and industry association publications [for example, International Council on Clean Transportation (ICCT); Society of Manufacturers of Electric Vehicles (SMEV); corporate filings, such as annual reports, investor presentations, and financial statements; and trade, business] were used to identify and collect information useful for an extensive commercial study of the electric van market.

Primary Research

Extensive primary research was conducted after acquiring an understanding of the electric van market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand (electric van manufacturers, country-level government associations, and trade associations) and supply (OEMs and component manufacturers) sides across major regions, namely, Asia Pacific, Europe, and North America, and primary interviews were conducted from the demand and supply sides, respectively. Primary data was collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in this report.

After interacting with industry experts, brief sessions with highly experienced independent consultants were conducted to reinforce the findings from the primaries. This, along with the in-house subject-matter experts’ opinions, led to the findings described in the remainder of this report.

Electric Van Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

A detailed market estimation approach was followed to estimate and validate the volume of the electric van market and other dependent submarkets, as mentioned below:

Key players in the market were identified through secondary research, and their market shares were determined through primary and secondary research
The research methodology included the study of the annual and quarterly financial reports & regulatory filings of major market players, as well as interviews with industry experts for detailed market insights
All major penetration rates, percentage shares, splits, and breakdowns for the market were determined using secondary sources and verified through primary sources
All key macro indicators affecting the revenue growth of the market segments and subsegments were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative & qualitative data
The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

To analyze the electric van market and forecast its size, in terms of volume (from 2022 to 2030)
To provide detailed information regarding major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
To segment the market and forecast its size, by volume, based on range
To segment the market and forecast its size, by volume, based on battery capacity
To segment the market and forecast its size, by volume, based on battery type
To segment the market and forecast its size, by volume, based on propulsion
To segment the market and forecast its size, by volume, based on end use
To segment the market and forecast its size, by volume, based on region (Asia Pacific, Europe, and North America)
To strategically profile key players and comprehensively analyze their market shares and core competencies
To track and analyze competitive developments such as new product developments, deals, and other activities carried out by key industry participants.

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With the given market data, MarketsandMarkets offers customizations in line with company-specific needs.

Electric Van Market, by end use, by country
Electric Van Market, by battery type, by country
Electric Van Market, by battery capacity, by country

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