A van is a type of automobile used for transporting cargo or people. The interior space of a van is maximized to be longer and higher than a car yet smaller than a truck. Vans usually are equipped with higher roof, reconfigurable seats, flat floor and Sliding doors for the rear entrance. Furthermore, the seating positions of the driver maximizes the interior space to feel more comfortable and spacious. Majority of vans could conveniently allow 15 passengers without cargo. Vans can also be used to transport school children. For instance, in India, the van is one of the most common modes of transporting school children, usually when the school buses are unable to accommodate. Therefore, increase in demand for vans to transport school children is expected to drive the growth of the global van market in near future.
COVID-19 scenario Analysis:
- The customer has been majorly focused on the essential needs owing to the coronavirus pandemic due to which a devastating impact is observed on the van market.
- The affected countries are facing issues such as unavailability of workforce and closure of factories owing to COVID-19 which further causes a major shutdown of all operations for the van manufacturers.
- Vans are majorly used for commercial usage; however, a huge impact on the production and sales operations have been observed owing to the Corona virus pandemic.
- The vendors in van industry across the globe is affected severely due to the restrictions on producers as well as the declared lockdowns, which in turn affect the global van manufacturers worldwide.
- The disruption in the demand due to the Corona virus pandemic is causing uncertainty toward the demand and supply network of the van manufacturers.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Rise in demand for commercial vehicles, increase in growth of e-commerce sector, and expansion of the industrial sector are driving the growth of the market. However, high development cost is expected to hamper the growth of the market. On the contrary, economic trend in housing & retail is expected to create an opportunity for the market investments.
The global van market trends are as follows:
Rise in demand for commercial vehicles
The demand for commercial vehicles is up surging owing to the increasing mining, construction, and logistics activities across several countries in the world. Furthermore, automobile manufacturers such as Daimler, Toyota, and others have initiated plans to expand van manufacturing segment in the potential industrial areas to capture the increase in demand for vans globally. Thereby, increase in demand for commercial vehicle leasing & rental for the operational efficiency in the production is on the rise. Therefore, rise in demand for commercial vehicles is expected to boost the growth of the van market.
Increase in growth of the e-commerce sector
Van manufacturers such as Daimler, Tata Motors, and others have observed a significant amount of surge in the sales of the e-commerce sector; thereby, boosting the logistics sector. Furthermore, the demand for e-commerce transportation has always been depended upon vans for the logistics and delivery services to the consumer. Therefore, increase in dependence over vans in the e-commerce sector is anticipated to boost the van market growth during the forecast period.
Key benefits of the report:
- This study presents the analytical depiction of the van industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the van market.
- The current market is quantitatively analyzed to highlight the van market growth scenario.
- We can also determine van will remain a significant revenue shareholder in the global van market through the predictable future.
Questions answered in the global van market research report:
- Which are the leading market players active in van market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Van Market Report Highlights
By Tonnage Capacity
By Propulsion type
By End User
Key Market Players
FCA Italy S.p.A., Hyundai Motor Company., Nissan Motor Co. Ltd., FORD Motor Company, Volkswagen AG, Renault SA., General Motor Compan, Mercedes-Benz, Groupe PSA, Toyota Motor Corporation