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Cargo Vans Market Size, By Propulsion (ICE [Petrol, Diesel, CNG], Electric [HEV, BEV]), By Tonnage Capacity, By End Use, Global Forecast 2023 – 2032

  • Report ID: GMI7314
  • Published Date: Nov 2023
  • Report Format: PDF

Cargo Vans Market Size

Cargo Vans Market size was valued at USD 104.9 billion in 2022 and is anticipated to register a CAGR of over 8% between 2023 and 2032. The surge in van sales, along with fleet expansion by businesses to meet the rising consumer demand. According to the European Automobile Manufacturers Association, in the first half of 2023, the sale of new vans in the EU surged by 11.2%, reaching 730,969 units, compared to the first-half sale of 2022.

Cargo Vans Market

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Cargo vans play a pivotal role in the expansion of logistics & transportation enterprises. The compact yet spacious design of cargo vans allows efficient movement of goods between warehouses, distribution centers, and customers. With the rise of e-commerce, cargo vans enable timely and precise deliveries, enhancing customer satisfaction.


Changing regulations pose a significant challenge to the industry. Stringent emission standards require manufacturers to invest in eco-friendly technologies, increasing production costs. Moreover, evolving safety regulations demand continuous upgrades, adding complexity to manufacturing processes. Trade policies and tariffs can also disrupt the supply chain, affecting the availability of essential components.

COVID-19 Impact

The cargo vans market faced severe disruptions due to the COVID-19 pandemic. Manufacturing facilities worldwide experienced shutdowns, leading to production delays. Supply chains were severely affected, causing shortages in essential components. The COVID-19 pandemic-induced labor shortages and restrictions hampered production capacities, leading to reduced output.

Cargo Vans Market Trends

The increasing demand for electric and eco-friendly transportation solutions is fueling significant progression in the industry. With rising emphasis on sustainability, businesses are increasingly opting for electric cargo vans, thereby reducing emissions and operating costs. For instance, in August 2023, Canoo Technologies launched the Lifestyle Delivery Vehicle 190 cargo van, marking its entry into the Class 2 electric cargo van sector. This new model shares the Multi-purpose Platform (MPP) with its LDV 130 predecessor but features a reinforced suspension system to accommodate the higher payload capacity of Class 2 vehicles.

The burgeoning growth of online retail is a major factor driving the industry expansion. As e-commerce continues to soar, there is an escalating demand for efficient and timely last-mile deliveries. Cargo vans serve as the backbone of this delivery network, offering businesses a versatile and reliable solution. The need for quick, door-to-door deliveries has led to increased investments in cargo vans as they are a crucial component of the online retail ecosystem

Cargo Vans Market Analysis

 Cargo Vans Market Size, By End Use, 2021-2032 (USD Billion)

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Based on end use, the market is categorized into commercial and personal. The commercial segment held major industry share, over 55% in 2022. The escalating demand for last-mile delivery services is fostering substantial progress in the commercial end-use segment. With the surge in online shopping, businesses are increasingly relying on efficient and timely deliveries to meet customer expectations. Cargo vans play a pivotal role in fulfilling this need, serving as versatile and practical vehicles for local deliveries.


Cargo Vans Market Revenue Share, By Propulsion, 2022, (%)

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Based on propulsion, the cargo vans market is divided into ICE and electric. The ICE segment held around 96% market share in 2022. ICE-powered cargo vans offer significant payload capacity advantages. Their design allows for larger fuel tanks without encroaching on cargo space. This extended fuel range ensures that vans can carry substantial loads over long distances, a crucial factor for businesses requiring efficient transportation of goods. For instance, in June 2023, Mahindra & Mahindra Ltd. Launched Supro CNG Duo, its introductory dual-fuel cargo van in the commercial vehicle category. This vehicle features an exceptional payload capacity and industry-leading mileage, delivering exceptional performance & maximizing profits for customers.


Asia Pacific Cargo Vans Market Size, 2021-2032 (USD Billion)

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Asia Pacific held a dominant cargo vans market with a revenue of USD 68.1 billion in 2022. Rapid technological advancements and a growing shift toward electric mobility are reshaping the regional industry. The integration of advanced technologies, such as telematics, route optimization software & IoT solutions, enhances operational efficiency and fleet management. Concurrently, the rising emphasis on eco-friendly transportation fuels the demand for electric cargo vans as businesses seek sustainable options.

Cargo Vans Market Share

Major players operating in the cargo vans industry are:

  • Mercedes-Benz Group AG
  • Ford Motor Company
  • General Motors
  • Stellantis NV
  • Nissan Motor Co., Ltd. A
  • Volkswagen AG

The competitive landscape in the industry is evolving with a focus on electric mobility and technological advancements. Dominating players such as Mercedes and Ford are investing in electric vehicle technology, integrating smart features, and improving energy efficiency to stay ahead, thus fostering innovation & driving the market's progression.

Cargo Vans Industry News

  • In May 2023, Mullen Automotive Inc., an EV manufacturer, collaborated with Amerit, a fleet solution company. This partnership established Amerit Fleet Solutions as the provider of national service and warranty work, catering to Mullen's commercial vehicle range. This lineup includes the Mullen ONE Class 1 EV Van and the Mullen CAMPUS EV Cargo Van, among other commercial vehicles.

The cargo vans market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and shipments (Units) from 2018 to 2032, for the following segments:

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By Propulsion, 2018 – 2032

  • ICE
    • Petrol
    • Diesel
    • CNG
  • Electric
    • HEV
    • BEV
    • Others

By Tonnage Capacity, 2018 – 2032

  • Below 2 Tons
  • 2 to 3 Tons
  • Above 3 Tons

By End Use, 2018 – 2032

  • Commercial
  • Personal

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ANZ
    • Southeast Asia 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • UAE
    • South Africa
    • Saudi Arabia


Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Global market for cargo vans was valued at USD 104.9 billion in 2022 and is anticipated to register a CAGR of over 8% between 2023 and 2032, owing to the surge in van sales, along with fleet expansion by businesses to meet the rising consumer demand.

The commercial segment held major market share, over 55% in 2022 and will continue to grow owing to the escalating demand for last-mile delivery services, as cargo vans serve as versatile and practical vehicles for local deliveries.

Asia Pacific cargo vans industry was worth USD 68.1 billion in 2022 and is poised for significant growth due to the rapid technological advancements and a growing shift toward electric mobility.

Mercedes-Benz Group AG, Ford Motor Company, General Motors, Stellantis NV, Nissan Motor Co., Ltd., Volkswagen AG, and TOYOTA MOTOR CORPORATION.

Cargo Vans Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 259
  • Countries covered: 21
  • Pages: 250
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