Electric Van Market Size, Share, Growth Analysis, By Battery Capacity(Up to 50 kWh, and Above 50 kWh), By Application(Personal, Commercial), By Range(Up to 100 miles, 100 to 200 miles) - Industry Forecast 2024-2031

Global Electric Van Market size was valued at USD 8.1 billion in 2022 and is poised to grow from USD 9.81 billion in 2023 to USD 45.07 billion by 2031, growing at a CAGR of 21% in the forecast period (2024-2031).

Vans that are powered by electric motors are known as electric vans and the growing focus on sustainability is projected to bolster the demand for these over the coming years. Growing popularity of electric vehicles and increasing consumer awareness regarding the benefits associated with the same are also slated to uplift electric van sales in the future. Imposition of stringent vehicle emission mandates around the world to reduce greenhouse gases and stop global warming are also predicted to favor the demand for electric vans across the forecast period and beyond. Developed countries with a better EV charging infrastructure will witness higher electric van sales as compared to developing countries that lack the same going forward.

Increasing investments in the development of a better charging infrastructure are estimated to create new opportunities for electric van companies through 2031. On the contrary, range limitations and high initial costs are projected to impede the overall electric van market development scope in the future.