Van Market: Future Growth And Opportunities Revealed By Techsci ResearchPosted by Kumar on May 22nd, 2023 Global van market stood at over USD137 billion in 2019 and is projected to grow at a more than 3.5% CAGR by 2026. Anticipated growth in the market can be attributed to growth of logistics sector as well as e-retailing where light commercial vans are majorly used for transportation of goods. Moreover, rising demand for last mile delivery of goods and growing SMEs and MSMEs are positively influencing global van market. Additionally, growing tourism across various countries is further anticipated to propel growth in global van market over the coming years. The global van market is segmented by tonnage capacity, by fuel type, by end use, and by region. Based on fuel type, the market is further bifurcated into vehicles that use diesel, gasoline, and others. Demand for alternate fuel is rapidly increasing in the market because of the rising concerns toward depleting environmental conditions. Alternate fuel option coupled with advanced technology will ensure the continued growth of the market in the forecast years. Some of the top players in global van market are FORD Motor Company, Volkswagen AG, Mercedes-Benz, FCA Italy S.p.A., Renault SA., Groupe PSA, General Motor Company, Toyota Motor Corporation, Nissan Motor Co. Ltd., and Hyundai Motor Company. Years considered for this report: Objective of the Study:
To perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of van dealers operating in different countries. Subsequently, TechSci Research conducted primary research surveys, which include primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research could include van dealers which could not be identified due to the limitations of secondary research. TechSci Research analyzed product offerings, distribution channels, and regional presence of all major van distributors across the globe. TechSci Research calculated the market size for global van market using a bottom-up technique, wherein van volume sales data, was recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Multiple secondary sources such as directories, databases such as automotive manufacturing associations, company websites, company annual reports, white papers, investor presentations and financial reports were also studied by TechSci Research. Key Target Audience:
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as van manufacturers, investment sectors, and to the end users. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion. Report Scope: In this report, global van market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Related Reports: About TechSci Research: TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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