Electric Delivery Van Market is set to grow at a CAGR of 21.8% during the forecast period of 2022-32: Says Market Decipher

"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." 

"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:

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:

Key Report Takeaways:

Get this research report: https://www.marketdecipher.com/report/electric-delivery-vans-market

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Media Contact:
David Correa
Decipher Business Insights Pvt. Ltd.
Zen Business Center,
Wakad, Mumbai- Bangalore Highway,
Pune - 411057, Maharashtra
Website: www.marketdecipher.com

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