Van Market to Surpass $ 164 Billion by 2023
Growth of e-commerce and
logistics industry, rising tourism along with growing small-scale businesses to
drive global van market through 2023
According
to TechSci Research report, “Global Van
Market By Tonnage Capacity, By Fuel Type, By End Use, By Region,
Competition Forecast & Opportunities, 2013 - 2023”, the global
van market is projected to cross $ 164 billion by 2023 on account of growing
e-commerce and logistics sectors across developed as well as developing
economies. Moreover, major
automotive companies are focusing on expanding their production facilities in
the coming years, which is further likely to positively influence global van
market during the forecast period.
Additionally, rising number of medium and small enterprises would further steer
growth in the global van market during forecast period.
Browse 254 market data Figures and Table spread
through 256 Pages and an in-depth TOC on "Global Van Market"
https://www.techsciresearch.com/report/vans-market/3143.html
In 2017, vans with up to 2 ton capacity dominated the global van market
with a majority volume share, and the segment is likely to remain the largest
through 2023. Up to 2 ton segment is followed by 2 to 3 ton and 3 to 5.5 ton product
segments. The dominance of up to 2 ton segment is led by their major use in
various sectors, including logistics, hotel and retail industry for
transportation of food and other goods. Among regions, van market is largely
concentrated in Asia-Pacific region owing to region’s high population and rising
trade activities.
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Increasing
presence and focus of various major global automotive players such as FORD Motor Company, Volkswagen AG, Mercedes-Benz, FCA Italy
S.p.A., Renault SA., Groupe PSA, General Motor Company, Toy, etc., on
the global van market is anticipated to intensify market competition over the
next five years. “Rising inclination of people towards online shopping, globally,
coupled with increasing tourism and infrastructural development across major
global economies is pushing demand for vans across the globe. Moreover, rising
focus on vans running on alternate fuels and emergence of vans with smart
features, is further anticipated to steer growth in the global van market over
the coming years.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Van Market
By Tonnage Capacity, By Fuel Type, By End Use, By Region, Competition Forecast
& Opportunities, 2013 - 2023” has analyzed the potential of global van market across the
world, and provides statistics and information on market sizes, shares and
trends. The report will suffice in providing the intending clients with
cutting-edge market intelligence and help them in taking sound investment
decisions. Besides, the report also identifies and analyzes emerging trends
along with essential drivers and key challenges faced by global van market.
About TechSci Research
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