PUBLISHER: Allied Market Research | PRODUCT CODE: 1239590
PUBLISHER: Allied Market Research | PRODUCT CODE: 1239590
An electric van functions on electricity and does not use conventional fuels, such as gasoline or diesel, as its power source. Electric van utilizes an electric motor to propel the vehicle. In addition, advantages of electric van comprise lower running costs, environment friendly, low maintenance costs, and others. Moreover, it is generally utilized for goods transportation, passenger transportation, e-commerce deliveries, last mile deliveries and others.
Electric vans with battery capacity more than 50 kWh are expected to witness considerable demand, due to their increased application in the logistics sector, last mile deliveries, and others in the near future. Moreover, introduction of new electric vans by the key players, with battery capacity more than 50 kWh in the market, supplement the growth of the market. For instance, in July 2020, Renault launched "Zoe" van for the UK market. Zoe is a cargo van which utilizes 52 kWh battery pack and has a range of 245 miles. Its load bay is 1205 mm long, and maximum load width is 1110 mm. In addition, it provides maximum payload capacity up to 387 kg. Moreover, it supports fast charging, which allows for 90 miles of range per 30 minutes of charging.
The electric van market has been affected by the recent trend toward self-driving vans. Top OEMs such as Volkswagen, and others, have developed self-driving electric vans for the market. For instance, in 2021, Volkswagen unveiled an autonomous ID.Buzz AD (AD stands for Autonomous Driving) at IAA Munich. ID.Buzz AD feature a roof-mounted Lidar sensor which is capable of detecting objects from more than 400 meters away. Moreover, self-driving electric van technology will increase the demand for electric vans in the long term due to various advantages such as ease of operation and the presence of value-added features. The technology is expected to mature in the next few years. Therefore, the development of self-driving electric vans technology is opportunistic for market growth.
The electric van market is segmented into on range, battery capacity, propulsion, application, and region. By range, it is fragmented into up to 100 miles, 100 to 200 miles, and above 200 miles. By battery capacity, it is categorized into up to 50 kWh, and above 50 kWh. By propulsion, it is fragmented into battery electric van, and plug-in hybrid electric van. By application, it is classified into personal, and commercial. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some leading companies profiled in the report include BYD Company Ltd, Ford Motor Company, General Motors Company, Mercedes-Benz Group AG, Nissan Motor Co., Ltd., Renault S.A., Stellantis NV, Toyota Motor Corporation, Volkswagen AG, and Workhorse Group Inc.