Wilmington, Delaware, Oct. 11, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s most recent industry analysis, the Global Electric Delivery Vehicles Market value is US$ 13.5 billion in 2023 and is expected to rise at a strong CAGR of over 18.5% over the forecast period of 2023-2030
Market Definition, Market Scope, and Report Overview
Electric delivery vehicles are commercial vehicles designed primarily to move goods and parcels. Unlike traditional delivery trucks, which use internal combustion engines powered by fossil fuels, electric delivery cars employ rechargeable batteries for energy storage. These vehicles are essential in the logistics and transportation industries.
Electricity is often less expensive than fossil fuels, and electric cars require less maintenance due to their simpler construction. This cost advantage makes them appealing to firms looking to cut operational costs. With the advent of e-commerce, there is a greater need in metropolitan areas for effective last-mile delivery options. Electric delivery vehicles are well-suited to the short-distance, stop-and-start driving that is frequent in urban areas.
- According to a deep-dive market assessment by RationalStat, the global electric delivery vehicles market has been analyzed on the basis of market segments, including vehicle type, range, payload capacity, end user industry, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global electric delivery vehicles market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global electric delivery vehicles market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Electric Delivery Vehicles Market: Segmental and Market Share Analysis
- On the basis of vehicle type, electric bikes and scooters are dominating the global electric delivery vehicles market. Because small electric two-wheelers ideal for ultra-local deliveries, especially in crowded urban areas.
- Based on range, short-range segment has dominated the market and will show its dominance during the forecast period as it is used with a limited range, typically used for short-distance deliveries within cities.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 13.5 billion |
| Market Size Forecast | US$ 44.3 billion |
| Growth Rate | 18.5% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some prominent players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global electric delivery vehicles market include,
- In October 2023, Magenta Mobility collaborated with Tata Motors to add the Ace EV to its fleet, with the goal of accelerating the adoption of electric cars (EVs) in urban delivery. The agreement is consistent with Magenta's objective of decarbonizing logistics and providing clean, sustainable mobility solutions.
Some of the prominent players and suppliers operating and contributing significantly to the global electric delivery vehicles market growth include BYD Company Limited, Geely Automobile Holdings Limited, Nikola Corporation, Rivian Automotive, Inc, Volkswagen Group AG, Ford Motor Company, Toyota Motor Corporation, Honda Motor Company, Ltd, Robert Bosch GmbH, Tata Motors Limited, Hero Electric Vehicles Private Limited, Mahindra Electric Mobility Limited, Bajaj Auto Limited, TVS Motor Company Limited, Yamaha Motor Global Pvt. Ltd, and Maruti Suzuki Global Limited, among others.
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RationalStat has segmented the global electric delivery vehicles market based on vehicle type, range, payload capacity, end user industry, and region
- Global Electric Delivery Vehicles Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Vehicle Type
- Electric Vans
- Electric Trucks
- Electric Bikes and Scooters
- Electric Cargo Bikes
- Global Electric Delivery Vehicles Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Range
- Short Range
- Medium Range
- Long Range
- Global Electric Delivery Vehicles Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Payload Capacity
- Light-duty Vehicles
- Medium-duty Vehicles
- Heavy-duty Vehicles
- Global Electric Delivery Vehicles Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by End User Industry
- E-commerce and Retail
- Food and Beverages
- Postal and Courier Services
- Logistics and Freight
- Utilities and Services
- Global Electric Delivery Vehicles Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Electric Delivery Vehicles Market
- US
- Canada
- Latin America Electric Delivery Vehicles Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Electric Delivery Vehicles Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Electric Delivery Vehicles Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Electric Delivery Vehicles Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Electric Delivery Vehicles Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Electric Delivery Vehicles Market
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Key Questions Answered in the Electric Delivery Vehicles Report:
- What will be the market value of the global electric delivery vehicles market by 2030?
- What is the market size of the global electric delivery vehicles market?
- What are the market drivers of the global electric delivery vehicles market?
- What are the key trends in the global electric delivery vehicles market?
- Which is the leading region in the global electric delivery vehicles market?
- What are the major companies operating in the global electric delivery vehicles market?
- What are the market shares by key segments in the global electric delivery vehicles market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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