Wilmington, Delaware, Oct. 12, 2023 (GLOBE NEWSWIRE) -- India Electric Delivery Vehicles Market size is estimated at US$ 144.3 million in 2023 and is expected to grow at a significant CAGR of over 12.7% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
Electric delivery vehicles are commercial vehicles that are primarily used to transport goods and packages. Unlike typical delivery trucks, which use internal combustion engines powered by fossil fuels, electric delivery vehicles store energy in rechargeable batteries. These vehicles play an important role in the logistics and transportation industries.
Electricity is frequently less expensive than fossil fuels, and because electric automobiles are simpler to build, they require less maintenance. Because of this cost advantage, they are appealing to businesses trying to reduce operational costs. With the rise of e-commerce, there is a larger demand in urban areas for efficient last-mile delivery services. Electric delivery vehicles are well-suited to the frequent short-distance, stop-and-start driving found in cities.
- According to a deep-dive market assessment by RationalStat, the India 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 India, West & Central India, South India, East India). 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 India Electric Delivery Vehicles market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the India Electric Delivery Vehicles market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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India Electric Delivery Vehicles Market: Segmental and Market Share Analysis
- On the basis of vehicle type, electric bikes and scooters are dominating the global electric delivery vehicles market. Because small electric two-wheelers ideal for ultra-local deliveries, especially in crowded urban areas.
- Based on range, short range segment is dominated the market and will show its dominance during the forecast period as it is used with a limited range, typically used for short-distance deliveries within cities.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 144.3 million |
| Market Size Forecast | US$ 333.1 million |
| Growth Rate | 12.7% |
| 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 India 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 India electric delivery vehicles market growth include Tata Motors Limited, Hero Electric Vehicles Private Limited, Mahindra Electric Mobility Limited, Okinawa Autotech Private Limited, Ampere Vehicles Private Limited, Bajaj Auto Limited, TVS Motor Company Limited, Kinetic Green Energy and Technology Limited, Yamaha Motor India Pvt. Ltd, Piaggio Vehicles India Private Limited, Maruti Suzuki India Limited, E-Rickshaw India Private Limited, Terra Motors Private Limited, Ola Electric Mobility Private Limited, and Sahas Wheels Private Limited, among others.
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RationalStat has segmented the India electric delivery vehicles market based on vehicle type, range, payload capacity, end user industry and region
- India 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
- India Electric Delivery Vehicles Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Range
- Short Range
- Medium Range
- Long Range
- India 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
- India 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
- India Electric Delivery Vehicles Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North India
- West & Central India
- South India
- East India
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Key Questions Answered in the Electric Delivery Vehicles Report:
- What will be the market value of the India Electric Delivery Vehicles market by 2030?
- What is the market size of the India Electric Delivery Vehicles market?
- What are the market drivers of the India Electric Delivery Vehicles market?
- What are the key trends in the India Electric Delivery Vehicles market?
- Which is the leading region in the India Electric Delivery Vehicles market?
- What are the major companies operating in the India Electric Delivery Vehicles market?
- What are the market shares by key segments in the India 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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