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Parcel Delivery Vehicle Market Size

Report ID: GMI5618
Published Date: May 2023
Report Format: PDF

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Parcel Delivery Vehicle Market Size

Parcel Delivery Vehicle Market size exceeded USD 100 billion in 2022 and projected to grow at 7% CAGR from 2023 to 2032.

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Growing digitization, globalization, and factory automation are expected to offer a boost to the trend of Industry 4.0, supporting market growth. The need for quicker and more effective delivery services has led to an increase in technological developments and the use of automation in parcel delivery trucks. Consumers today also demand speedy and dependable delivery of their items, which puts pressure on delivery services to find methods to streamline their processes and cut costs. The rising demand for single-day or two-day deliveries will fuel market expansion.

Parcel Delivery Vehicle Market Report Attributes
Report Attribute	Details
Base Year:	2022
Parcel Delivery Vehicle Market Size in 2022:	USD 100 Billion
Forecast Period:	2023 to 2032
2032 Value Projection:	USD 210 Billion
Historical Data for:	2018 to 2022
No. of Pages:	250
Tables, Charts & Figures:	480
Segments covered:	Propulsion Type, Type, End-Use
Growth Drivers:	Expansion of e-commerce platforms Adoption of technologies such as mobility, AI, and advanced power source Rising demand for autonomous delivery vehicles Growth in last-mile delivery
Pitfalls & Challenges:	High cost of parcel delivery vehicles Challenges in interoperability and maintenance

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High cost of parcel delivery vans is likely to impact parcel delivery vehicle market growth. Due to inefficiencies in the delivery process, new entrants and small players in the business scenario may incur higher expenses in the long run. The adoption of new technologies, like autonomous delivery vehicles, might also be impacted by interoperability issues. Existing issues like compatibility problems with the current systems could further influence the industry development.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of parcel delivery vehicle surpassed USD 100 billion in 2022 and is anticipated to expand at 7% CAGR from 2023 to 2032, says this GMI report.

Parcel delivery vehicle industry share from the diesel propulsion segment will cross USD 130 billion by 2032 owing to the adoption of greener technology and the growing emphasis on sustainability.

Parcel delivery vehicle industry in North America is expected to attain 7.5% gains during 2023 to 2032 attributed to the demand for goods and commodities in the region.

Some of the key players in the parcel delivery vehicle business landscape include Ford Motor Company, General Motors, Nissan Motor Co., Jeep, Honda Motor Company, Isuzu Motors Limited, and Rivian.