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