Electric Delivery Van Market is set to grow at a CAGR of 21.8% during the forecast period of 2022-32: Says Market Decipher
PUNE, India, Oct. 20, 2022 /PRNewswire/ -- The New Report "Electric Delivery Van Market Size, Statistics, Trend Analysis, and Forecast Report, 2022 – 2032" shows insights and data published by Market Decipher. Asia Pacific and Europe dominate the worldwide electric van market, owing to a greater rate of EV adoption in the region on account of rising fuel prices and carbon emissions by transportation pollution. India's new vehicle scrappage policy, which permits old cars to be scrapped in exchange for low-emission vehicles, and other planned measures, will help it become the region's fastest-growing market for electric vehicles. Governments all around the world have assisted the growth of Electric Vans by providing EV charging stations, creating pollution limits, and establishing deadlines for converting from ICE vehicles to full or hybrid EVs.
Get research insights in detail: https://www.marketdecipher.com/report/electric-delivery-vans-market
"The government incentives include providing EV buyers with subsidies, enacting mandatory laws that require all vehicle manufacturers to develop EVs in proportion to total vehicles produced, offering substantial support to install EV charging stations, especially in major cities, and enacting regulations against polluting vehicles. Market Decipher envisages the acceleration in the market for electric vans with the development of wireless EV charging technology for on-the-go charging coupled with the rising usage of the E-commerce platform."
- Chandradeep Singh
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Do Electric Vans provide a higher payoff?
Most of the electric vans are majorly used inside city centers', either for last-mile delivery/commute or short-haul deliveries. The daily distance covered by these vehicles is mostly in urban confines and in the average range of 200-250kms, which considerably lowers range anxiety for drivers and fleet operators. The low operating costs and even lower time boost a fleet operator`s earnings by a significant margin and stimulate the demand for electric vehicle vans. The rising scientific developments and mass production is supporting the need for cost-effective electric delivery vans owing to a fall in the price of EV batteries. The operational cost of ECVs is much lower than conventional ICE commercial vehicles and will lead to a growth in demand for electric commercial vehicles. Several logistics companies, such as PepsiCo and UPS have announced the electrification of their fleet which consists of heavy as well as light-duty commercial vehicles to minimize operating costs.
Soaring Prices of Petrol & Diesel will shift the demand for Electric Vans
According to the US Energy Information Administration (EIA), 97.45 million barrels per day were consumed in 2021. The surging demand is shooting up prices and despite various treaties to control petrol prices in the international market, prices have risen over the years. The limited petroleum reserves and constantly rising fuel prices have led automakers to consider alternative fuel sources for vehicles. The tax rates also affect the price of fossil fuels around the world, and while the US has the lowest tax on fuel (19%), India has around 69% tax on fuel. These factors have significantly pushed the demand for Electric Vans.
Rise in use of E-Commerce Platforms to Fuel the Demand for Electric Parcel Delivery Vans
Factors like growing consumer trends towards online shopping are driving transportation of goods and commodities across the globe, and major food providers and restaurants using autonomous electric vans for the delivery of food are likely to fuel the electric parcel delivery van market. IKEA has partnered with a China-based company called DST and plans to make last-mile furniture deliveries with electric vans in Shanghai, Paris, Los Angeles, New York, and Amsterdam. Amazon in collaboration with Rivian has started delivering packages by electric delivery vehicles hitting the road in Baltimore, Chicago, Dallas, Kansas City, Nashville, Phoenix, San Diego, Seattle, and St. Louis, among other cities, and plans to bring thousands of Amazon's custom electric delivery vehicles in more than 100 cities across the U.S. by 2030.
Favorable Government Regulations and Policies on Carbon Emissions offer Robust Opportunities
The growth of the market can be attributed to the growing emphasis of the government on the electrification of public transport, increasing demand for emission-free delivery vans, and escalating adoption of electric vehicles worldwide. Walmart has signed a definitive agreement with Canoo, a high-tech advanced mobility company, to purchase 4,500 all-electric delivery vehicles, to deliver online orders in a sustainable way which will also contribute to Walmart's goal to achieve zero-emissions by 2040.
Report can be procured at: https://www.marketdecipher.com/report/electric-delivery-vans-market
Recent Development by Companies:
- Renault launched new variants of MASTER ZE fully electric transport vans. It offers large-mile connectivity in urban areas. It has a vertical grille and covers a large front bumper that stands out as a key design. This incorporates a 3.5-inch TFT digital display. It is available in L2 AND L3 lengths. This has a range of up to 120 kilometers. The ZE 33 lithium-ion battery with a capacity of 33kWh is used in the ZE master. The battery provides energy for the R75 electric motor and delivers 76hp and 225 Nm of maximum torque.
- General Motors is planning to release the EV600, an all-electric vehicle. The van will be the first vehicle under GM's new BrightDrop commercial business branch. The EV600 will be able to go up to 250 kilometers on a single charge.
- FedEx will receive the first 500 vans. The EV600 is the first commercial vehicle to feature GM's next-generation Ultrium battery system, which the company has spent billions developing as a foundation for future electric vehicles.
- Fiat has launched the electric version of its van Ducato. The company has also announced the variants with 2 battery sizes and the price of the e-Ducato is $73,369 which is twice the ICE vehicles.
Report can be procured at: https://www.marketdecipher.com/report/electric-delivery-vans-market
Report Details:
Number of Pages: 220
Number of Tables: 65
Charts and Graphs: 45
Key Companies Covered:
- 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.
- Mercedes-Benz Group AG
- Hyundai Motor Company,
- Honda Motor Company Ltd.,
- Nissan Motor Co. ltd,
- Volkswagen AG,
- Toyota Motor Corporation
Key Report Takeaways:
- Estimation/projections/forecast for revenue (2022 – 2032)
- Data breakdown for every Industry segment (2022 – 2032)
- Gross margin and profitability analysis of companies
- Impact Of COVID-19 On Electric Delivery Van Market
- Business trend and expansion analysis
- Competition analysis/market share
- Product Innovation Listing
- Client list and case studies
- Market entry strategy
Get this research report: https://www.marketdecipher.com/report/electric-delivery-vans-market
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David Correa
Decipher Business Insights Pvt. Ltd.
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Wakad, Mumbai- Bangalore Highway,
Pune - 411057, Maharashtra
Website: www.marketdecipher.com
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