Electric Van Market Top Key Players - PSA Group, Renault Automobile Company, DaimlerAG, London Electric vehicle Company, Fiat Automobiles S.p.A., Ford Motor Company, StreetScooter, Toyota Motors, BYD Company

The current wave of electricity in vehicles is not limited to cars and scooters/motorcycles. It is also rapidly expanding into another popular category of vehicles, namely small commercial vehicles (LCVs).

China, USA and Europe are the top three markets for LCVs, accounting for more than 60% of LCV sales. However, it is China and Europe that are driving the growth of the electric van market.

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COVID-19 IMPACT ON ELECTRIC VAN MARKET

Due to the COVID-19 infectious disease, many sectors of the industry have experienced a decline in manufacturing and sales activities. However, it was popular in some fields such as medical treatment. The automotive sector has experienced steady growth in several companies and sectors, and the EV market has continued to grow as demand for these vehicles grows.

ELECTRIC VAN MARKET DYNAMICS

• The light commercial vehicle market is estimated to grow at a CAGR of XX% globally and reach a value of $ XX billion by the end of 2027. These increases are because governments around the world are focusing on electrifying their people. Increase demand for vehicles with zero emissions as well as transportation.

• The Asia Pacific region is expected to grow steadily in connection with the high demand for the integration of electric buses and vans for public transport. Major automakers and OEMs are developing more efficient and economical designs for commercial vehicles that meet government regulations and clean initiatives.

• Increasing strict emission regulations and other norms in countries around the world encouraged OEMs to develop more technologies for mobility. Europe is leading the market with the adoption of commercial electric vehicles according to standards set by the European Union.

OPPORTUNTIES IN ELECTRIC VAN MARKET

• The van market is particularly affected by economic trends in the housing and retail industries. Most electric vans / LCVs send most of their time in the city center for last mile shipments / commuting and short haul deliveries.

• The average daily travel distance of this vehicle is in the range of 200-250km, which is the boundary of most cities. Therefore, operator and vehicle operator range anxiety is much lower. Lower downtime, not to mention operating costs, can significantly improve vehicle operator revenue.

• IKEA plans to deliver furniture to electric vans in Shanghai, Paris, Los Angeles, New York and Amsterdam, and has partnered with a Chinese base company called DST.

COMPETITIVE LANDSCAPE

• Peugeot, Citroen, which consists of companies like DS and Opel Vauxhall, PSA Group's sales of electric vans and lightweight commercial vehicles increased by about 23%.

• The Renault Group recorded the largest number of vehicles sold in history with 1.42 million registered vehicles in the first half of 2021. The total number of light commercial vehicles is 241,820. The Group also recorded total sales of $ 27.65 billion in the first half of 2021, a significant increase over $ 21.82 billion in the same period in 2020.

COMPANIES PROFILED

• PSA Group
• Renault Automobile Company
• DaimlerAG
• London Electric vehicle Company
• Fiat Automobiles S.p.A.
• Ford Motor Company
• StreetScooter
• Toyota Motors
• BYD Company

Read More Information: https://mobilityforesights.com/product/electric-van-market/

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This release was published on openPR.