26 February 2020
Visiongain has launched a new automotive report Van Market Outlook Report 2020-2030: Forecasts & Analysis ($b Value & ‘000 units Volume), by End-User (Commercial Van, Personal Van, Emergency Van, Other Van) and by Region Plus Profiles of Leading Automotive OEMs, Companies & Manufacturers.
Technically, vans can be defined as both passenger vans which includes shuttles or taxis, or cargo vans, with two seats in the front and cargo space in the back. In addition, the commercial vans can be segmented as standard roof vans or high roof vans. High roof vans allow for people to stand up in the back of the cargo area. There has been increasing popularity of this segment of commercial vans over recent years. High-roof van sales have more than doubled between 2015 and 2019. As per the definition, the van market has been segmented based on its usage which includes vans used for commercial purpose, personal, emergency and other.
This report evaluates the global van market and forecasts its development between 2020 and 2030. Visiongain believes that the van market will grow slowly but steadily over the forecast period as the demand for van increases especially that of the commercial type. Commercial van demand in the year 2020 is anticipated to be particularly strong in North America, Brazil, Russia and India. However, with the exception of China, Japan and Korea, commercial van demand in the other regions is anticipated to be trending higher in the forecast period. In addition, this report observes 16 national markets for the van market and examines the potential drivers and restraints within these markets between 2020 and 2030. Finally, the report, gives a detailed account of key technological advancements and developments both current and future.
The changing economic outlook and technological developments are factors which will affect this market. Visiongain understands that the van market will register consistent growth, growing from $40.0bin 2019 to $91.9b in 2030. As a whole, the van market will grow at a CAGR of 7.6% between 2020 and 2030. Rising demand for mobility shared services is one of the major driving the demand for vans. The vans are used for various mobility sharing services including sharing and renting services. Various automobile companies are venturing into the market to leverage the growth mobility service market and are coming up with new business plans to the adoption of vans for mobility sharing. Further, companies are making significant improvements at the comfort and manoeuvrability of vans.
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