Global Parcel Delivery Vehicle Market Report 2024, Forecast To 2033
8 Mar, 2024
The parcel delivery vehicle market has demonstrated strong growth, increasing from $112.41 billion in 2023 to $121.91 billion in 2024, with a CAGR of 8.5%. This growth is attributed to e-commerce expansion. The market is expected to reach $170.25 billion in 2028, with a CAGR of 8.7%, driven by electric vehicle adoption and data-driven logistics. Major trends include last-mile robotics and green technologies.
Global Parcel Delivery Vehicle Market Key Driver
The parcel delivery vehicle market is poised for growth driven by the rising development of e-commerce and internet shopping platforms. E-commerce platforms and online shopping have witnessed significant growth in recent years, fueled by advancements in technology and changing consumer preferences. Parcel delivery vehicles play a crucial role in facilitating the last-mile delivery of products ordered online, contributing to the efficiency and convenience of e-commerce operations. With online retail sales accounting for a substantial percentage of total retail sales globally, as reported by the United Nations Conference on Trade and Development and Morgan Stanley, the demand for parcel delivery vehicles is expected to escalate, driven by the imperative to meet the growing demand for online shopping and e-commerce services.
Get A Free Sample Of The Global Parcel Delivery Vehicle Market ReportGlobal Parcel Delivery Vehicle Market Segments
The parcel delivery vehicle market covered in this report is segmented –
1) Type:Class 2a, Class 2b, Class 3, Class 4
2) Vehicle Type:Light Duty Vehicle, Medium Duty Vehicle, Heavy Duty Vehicle
3) Gross Weight:3.5-5 Ton, 6-7.5 Ton, >8 Ton
4) Operation:Manual, Autonomous
5) End-Use:Courier Companies, Food Delivery Companies, Fleet Management Companies, Medical Courier Companies, Warehouse Service Providers, E-Commerce
By Geography: The countries covered in the parcel delivery vehicle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America is expected to be the fastest-growing region in the forecast period. The regions covered in the parcel delivery vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Parcel Delivery Vehicle Industry Players
Toyota Motor Corporation; Ashok Leyland; Daimler AG; Ford Motor Company; General Motors; Honda Motor Co. Ltd.; Hyundai Motor Company; Tesla Inc.; Nissan Motor Co. Ltd.; Kia Corporation; Renault Group; BYD Motors Inc.; Isuzu Motors Limited; Mitsubishi Motors Corporation; Iveco Group; Jeep; Mahindra & Mahindra Ltd.; MAN Truck & Bus AG; Navistar International Corporation; Peugeot S.A.; Rivian Automotive Inc.; Mack Trucks Inc.; Kenworth Truck Company; Freightliner Trucks; Alkemy SpA; London EV Company Limited; StreetScooter Engineering GmbH; FCA Group Marketing S.p.A.
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Parcel Delivery Vehicle Market Overview
A parcel delivery vehicle refers to an automobile that aids in parcel delivery, a transport service that quickly transports packages or items from the sender's location to the receiver. These are designed to carry out specialized functions, such as delivering couriers, and transporting freight or cargo.