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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

  • Report

  • 196 Pages
  • November 2022
  • Region: Global
  • Markets and Markets
  • ID: 5701471
The electric van market is projected to reach 1,082.9 thousand units by 2030 from 106.8 thousand units in 2022, at a CAGR of 33.6% from 2022 to 2030. The increasing focus of countries on promoting the electrification of mass transit solutions due to increased concerns over pollution and government support in terms of subsidies and grants are propelling the growth of the electric van market.  

Reduction in battery prices

Research is underway to increase the pack size of batteries to support a range of electric vans and reduce costs. The research focuses on conventional lithium-ion, advanced lithium-ion using an intermetallic anode (silicon alloy composite), and future advanced lithium-ion (lithium metal, including lithium-sulfur) batteries. In addition, companies are developing innovative battery technologies to stay competitive in the industry. For instance, ElectRoad’s battery allows EVs to use very small and inexpensive batteries only for acceleration. Since the battery is only used for about 6% of the vehicle running time, it can increase the battery life by several years. Advancements in technology have also enabled wireless charging while driving, which is a dynamic charging technology that can also help reduce vehicle weight and optimize energy use. In April 2022, NITI Aayog, a policy think tank of the Government of India, announced its plan to reduce the goods and services tax on lithium-ion batteries from 18% to 5%.   

Lower emission compared to other vehicles

The use of fuel cells in electric vans has resulted in the provision of reliable power for up to 18 hours with no emissions except water vapor. FCEVs use pure hydrogen as fuel. The residue of hydrogen fuel is only water and heat. Hence, no harmful substances, such as greenhouse gases and particulate matter, are emitted by these vehicles. The reduction of greenhouse gases through the use of FCEVs acts as a growth driver for the overall automotive fuel cell market. Fuels such as diesel and gasoline emit greenhouse gases such as CO2, CO, NOx, and hydrocarbons (HC). These gases and particulate matters lead to climate change and global warming. CO2 emissions from a gallon of gasoline and diesel are 8,887 g CO2/gallon and 10,180 g CO2/gallon, respectively. Hence, using hydrogen power energy not only for transportation but also for commercial and industrial purposes would reduce greenhouse gas emissions significantly. FCEVs are among the cleanest fuel vehicles on the market.   

Implementation of stringent emission norms and environmental regulations

The stringent regulations formulated for the reduction of C02 emissions are expected to transform the automotive sector in India, China, and Japan over the next decade. While automotive OEMs are focusing on the electrification of vehicles, consumers are becoming more aware of the impact of vehicular emissions on the environment. Governments are also taking effective measures, such as tax subsidies, to promote the adoption of electric vehicles. Hence, the electric van market will grow. As indicated by the WHO, a significant reason for deaths has been air contamination. Governments around the world are robustly putting resources into infrastructural advancements to diminish ozone-depleting substances and lower air pollutions, which are achieved through the framing of stringent government regulations over vehicle emissions. For instance, in India, the budget for FY2021 includes a scrappage policy which would help encourage the adoption of greener vehicles. The growth of the electric vehicle market is expected to offer new opportunities for electric van manufacturers. Thus, the shift towards electric vehicles is expected to facilitate the growth of the electric van market in the coming years.   The study contains insights from various industry experts, ranging from component suppliers to tier-1 companies and OEMs. The break-up of the primaries is as follows: 
  • By Company Type: OEMs - 57%, Tier 1 - 29%, Tier 2 - 14%
  • By Designation: CXOs - 54%, Directors - 32%, Others - 14%
  • By Region: Asia Pacific- 28%, Europe - 43%, North America - 29% 
Major players profiled in the report are General Motors (US), Renault (France), Toyota Motor Corporation (Japan), BYD (China), and Ford Motor Company (US).    

Research Coverage

In this report, the electric van market has been segmented into three major regions, namely, North America, Europe, and Asia Pacific. The report estimates the size of the electric van market, by volume, based on range (up to 100 miles, 100-200 miles, and above 200 miles), battery type (nickel manganese cobalt, lithium-ion, and others), battery capacity (up to 50 kWh and above 50 kWh), propulsion (BEV, FCEV, and PHEV), and end use (last mile delivery, distribution services, field services, and refrigerated services).   

Key Benefits of Buying the Report:

  • The report will help market leaders/new entrants in this market with information on the closest approximations of revenue and volume numbers for the electric van market and its subsegments. 
  • This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. 
  • The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Table of Contents

1 Introduction
1.1 Objectives of the Study 1.2 Market Definition 1.3 Inclusions & Exclusions 1.4 Market Scope 1.4.1 Years Considered for Study 1.5 Currency 1.6 Stakeholders 1.7 Summary of Changes
2 Research Methodology
2.1 Research Data 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 2.2 Market Size Estimation 2.3 Factor Analysis 2.3.1 Factor Analysis for Market Sizing: Demand and Supply Side Analysis 2.4 Data Triangulation 2.5 Assumptions 2.6 Risk Assessment 2.7 Research Limitations
3 Executive Summary4 Premium Insights
5 Market Overview
5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.2 Restraints 5.2.3 Opportunities 5.2.4 Challenges 5.3 Porters Five Forces Analysis 5.4 Macroeconomic Indicators 5.4.1 Gdp Trends and Forecast for Major Economies 5.5 Trends and Disruptions 5.6 Value Chain Analysis 5.7 Ecosystem Analysis 5.8 Patent Analysis 5.9 Case Study 5.10 Average Selling Price of Electric Vans 5.11 Regulatory Overview 5.12 Technology Analysis 5.13 Detailed List of Conferences & Events for the Electric Van Market 5.14 List of Regulatory Bodies, Government Agencies, and Other Organizations 5.15 Key Stakeholders & Buying Criteria for Electric Vans 5.15.1 Key Stakeholders in Buying Process 5.15.2 Buying Criteria 5.16 Scenario Analysis 5.16.1 Most Likely Scenario 5.16.2 Optimistic Scenario 5.16.3 Pessimistic Scenario
6 Electric Van Market, by Range
6.1 Introduction 6.1.1 Operational Data 6.1.2 Assumptions 6.1.3 Research Methodology 6.2 Up to 100 Miles 6.3 100 - 200 Miles 6.4 Above 200 Miles 6.5 Key Industry Insights
7 Electric Van Market, by Battery Type
7.1 Introduction 7.1.1 Operational Data 7.1.2 Assumptions 7.1.3 Research Methodology 7.2 Nickel Manganese Cobalt 7.3 Lithium-Ion 7.4 Others 7.5 Key Industry Insights
8 Electric Van Market, by End Use
8.1 Introduction 8.1.1 Operational Data 8.1.2 Assumptions 8.1.3 Research Methodology 8.2 Last Mile Delivery 8.3 Refrigerated Services 8.4 Distribution Services 8.5 Field Services 8.6 Key Industry Insights
9 Electric Van Market, by Battery Capacity
9.1 Introduction 9.1.1 Operational Data 9.1.2 Assumptions 9.1.3 Research Methodology 9.2 Up to 50 Kwh 9.3 Above 50 Kwh 9.4 Key Industry Insights
10 Electric Van Market, by Propulsion
10.1 Introduction 10.1.1 Operational Data 10.1.2 Assumptions 10.1.3 Research Methodology 10.2 Battery Electric Vehicle 10.3 Fuel Cell Electric Vehicle 10.4 Plug-In Hybrid Electric Vehicle 10.5 Key Industry Insights
11 Electric Van Market, by Region
11.1 Introduction 11.2 Asia-Pacific 11.2.1 China 11.2.2 Japan 11.2.3 South Korea 11.2.4 India 11.3 Europe 11.3.1 Germany 11.3.2 UK 11.3.3 Netherlands 11.3.4 Norway 11.3.5 France 11.3.6 Italy 11.3.7 Belgium 11.3.8 Switzerland 11.3.9 Austria 11.3.10 Spain 11.3.11 Sweden 11.3.12 Denmark 11.3.13 Portugal 11.3.14 Ireland 11.4 North America 11.4.1 US 11.4.2 Canada
12 Competitive Landscape
12.1 Overview 12.2 Market Share Analysis 12.2.1 Renault 12.2.2 Ford Motor Company 12.2.3 Byd 12.2.4 Toyota Motor Corporation 12.2.5 General Motors 12.3 Key Players' Strategy 12.4 Revenue Analysis, 2021 12.5 Competitive Scenario 12.5.1 New Product Developments 12.5.2 Deals 12.5.3 Others 12.6 Company Evaluation Quadrant 12.6.1 Stars 12.6.2 Emerging Leaders 12.6.3 Pervasive 12.6.4 Participants 12.7 Start-Up/Sme Evaluation Quadrant 12.7.1 Progressive Companies 12.7.2 Responsive Companies 12.7.3 Dynamic Companies 12.7.4 Starting Blocks Table 1 Electric Van Market: Detailed List of Key Startups/Smes Table 2 Electric Van Market: Competitive Benchmarking of Key Players [Startups/Smes]
13 Company Profiles
13.1 Key Players 13.1.1 Renault 13.1.2 Nissan Motor Corporation 13.1.3 Toyota Motor Corporation 13.1.4 Iveco 13.1.5 London Electric Vehicle Company 13.1.6 General Motors 13.1.7 Ford Motor Company 13.1.8 Mahindra Group 13.1.9 Byd 13.1.10 Fiat 13.2 Other Key Players 13.2.1 Changsha Sunda New Energy Technology Co. Ltd 13.2.2 Yinlong Energy 13.2.3 Golden Dragon 13.2.4 Rivian 13.2.5 Zenith Motors 13.2.6 Workhorse Group 13.2.7 Arrival 13.2.8 Kingstar Vehicle Co. Ltd 13.2.9 Chanje Energy 13.2.10 King Long 13.2.11 Lightning E-Motors   (Business Overview, Products Offered, Recent Developments, SWOT Analysis, Analyst's View)*
14 Analyst's Recommendations
15 Appendix
15.1 Discussion Guide 15.2 Knowledge Store: The Subscription Portal 15.3 Available Customizations

Companies Mentioned

  • Arrival
  • Byd
  • Changsha Sunda New Energy Technology Co Ltd
  • Chanje Energy
  • Fiat
  • Ford Motor Company
  • General Motors
  • Golden Dragon
  • Iveco
  • King Long
  • Kingstar Vehicle Co Ltd
  • Lightning E-Motors
  • London Electric Vehicle Company
  • Mahindra Group
  • Nissan Motor Corporation
  • Renault
  • Rivian
  • Toyota Motor Corporation
  • Workhorse Group
  • Yinlong Energy
  • Zenith Motors

Methodology

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Table Information