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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).

Electric van manufacturers should focus on developing new vehicles with better range and efficiency to maximize their sales potential. Companies can also collaborate with energy providers and governments to boost the development of EV charging infrastructure over the coming years. Electric van market players should invest extensively in the research and development of new battery technology and design to optimize their revenue generation potential across the forecast period. 'Tesla Inc', 'Mercedes-Benz Group AG', 'Renault', 'BYD Company Ltd.', 'General Motors', 'Rivian', 'Toyota Motor Corporation', 'Dongfeng Motor Corporation', 'Hyundai Motor Company', 'Daimler Trucks', 'Honda Motor Company Ltd.', 'Nissan Motor Co. Ltd', 'Lucid Motors', 'Volkswagen AG', 'Stellantis N.V.'

Governments and regulatory bodies around the world are implementing new regulations and norms to curb emissions caused by vehicles. To comply with these regulations and promote sustainability, people have increased the adoption of electric vehicles such as electric bikes and electric vans.

Development of Charging Infrastructure: Electric van manufacturers can capitalize on the rapid expansion of new charging infrastructure networks around the world. Companies can advertise the benefits of this newly developed charging infrastructure to showcase the long-term cost savings offered by electric vans and other types of electric vehicles.

The Asia Pacific region is slated to emerge as the dominant market for electric vans and this can be directly linked to high adoption of electric vehicles in countries such as India, China, and South Korea. Robust growth in electric vehicle production and imposition of stringent vehicle emission control mandates are forecasted to boost electric van demand outlook in this region. Rising consumer awareness regarding benefits of electric vehicles and development of modern EV charging infrastructure are also allowing the Asia Pacific region to account for a dominant share in the electric van marketplace.

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Global Electric Van Market

Product ID: SQMIG25C2128