Press release
Electric Van Market Will Hit at a Highest CAGR of 26.40% by 2030 | Renault S.A., Tesla Inc, Mercedes-Benz Group AG, General Motors Company
"Electric Van Market"
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Electric vans run on electricity and use an electric motor instead of an internal combustion engine. Electricity is produced by the batteries installed in the electric van. The traction battery powers the electric motor and the vans are charged by connecting to a charging station or wall socket. In addition, an electric van is often used for commercial purposes such as cargo transportation, package delivery, last mile deliveries and more. In addition, electric vans have several advantages such as environmental friendliness, lower operating costs, low maintenance costs and others.
The growth of the global electric van market is fueled by government initiatives to promote electric mobility, reduced costs of electric vehicle batteries and increase demand for emission-free and efficient electric vans. However, the lack of charging infrastructure and the limited range of electric vans are factors restraining the growth of the market. Further, technological advancements are expected to provide growth opportunities during the forecast period.
COVID-19 impacted the electric van market in a negative manner owing to the lockdown imposed in the majority of the countries across the globe. Several automobile manufacturers faced shortage of automobile components due to disruption in supply chain. However, post-pandemic, increase in the sales of electric vehicles has been observed which is supplementing the growth of the electric van market.
The prominent players in the Electric Van market are
Renault S.A.
Tesla Inc
Mercedes-Benz Group AG
General Motors Company
Ford Motor Company
Nissan Motor Co., Ltd.
Workhorse Group, Inc.
Stellantis NV
Toyota Motor Corporation
Volkswagen AG
BYD Company Ltd
Electric Van Market 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.
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Scope of the Report:
The Electric Van Market is segmented into various segments such as Range, battery capacity, charging type, propulsion, application, end user and region:
Based on range, the electric van market is segmented into:
Up to 100 miles
100 to 200 miles
Above 200 miles
Based on the battery capacity, the electric van market is segmented into:
Up to 50 kWh
Above 50 kWh
Based on the propulsion, the electric van market is segmented into:
Battery Electric Van
Hybrid Electric Vehicles
Fuel Cell Electric Vehicles
Plug-in Hybrid Electric Van
Based on charging type, the electric van market is segmented into:
Normal charging
Fast charging
Based on application, the electric van market is segmented into:
Personal
Commercial
Based on end use, the electric van market is segmented into:
Last mile delivery
field services
distribution service
refrigerated services
Based on region, the electric van market is segmented into:
Asia Pacific
Japan
China
India
Australia
South Korea
Vietnam
New Zealand
Philippines
Thailand
Malaysia
Hong Kong
Taiwan
Singapore
Indonesia
Sri Lanka
Rest of Asia-Pacific
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Sweden
Austria
Finland
Belgium
Turkey
Russia
Poland
Hungary
Czech Republic
Switzerland
Netherlands
Rest of Europe
South America
Brazil
Argentina
Chile
Colombia
Rest of South America
Middle East & Africa
South Africa
U.A.E.
Saudi Arabia
Oman
Qatar
Iran
Egypt
Rest of Middle East and Africa
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