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Vans Market Share

Report ID: GMI11790
Published Date: Oct 2024
Report Format: PDF

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Vans Market Share

Mercedes, Stellantis, and Ford Motor Company collectively held a substantial market share of over 22% in the vans industry in 2023. Mercedes-Benz has focused on improving its Sprinter and Metris vans by adding new technology and features. The company has invested in electric vehicles, such as the eSprinter, to meet the increasing demand for environmentally friendly transport options.

Stellantis, created from the merger of Fiat Chrysler Automobiles and PSA Group, has adopted various strategies to grow its market presence. The company has improved its production methods and invested in flexible platforms to create different types of vans under several brand names, including Peugeot, Citroën, and Ram. Ford Motor Company has concentrated on improving the functionality and technology of its Transit van range. The company has added features such as advanced connectivity and driver-assistance technologies to make its vans more user-friendly and efficient for businesses.

Vans Market Companies

Major players operating in the vans industry are:

Ashok Leyland
Changan Automobile
Ford Motor Company
General Motors
Hyundai Motor Company
Isuzu
Iveco
Mahindra & Mahindra
Mercedes
Mitsubishi

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of vans reached USD 290.5 billion in 2023 and is set to grow at a 6.7% CAGR from 2024 to 2032, driven by increasing sustainability initiatives promoting environmentally friendly transportation solutions.

The light commercial vans accounted for over 50% of the market share in 2023 and are expected to exceed USD 230 billion by 2032, owing to their ability to meet diverse business and consumer needs.

The ICE segment held around 81% of the market share in 2023, benefiting from a well-established infrastructure, including widespread fueling stations and extensive service networks.

The Asia Pacific market, which accounted for over 45% of the market share in 2023, is expected to exceed USD 200 billion by 2032, driven by urbanization and the growth of e-commerce.

Major players in the industry include Ashok Leyland, Changan Automobile, Ford Motor Company, General Motors, Hyundai Motor Company, Isuzu, Iveco, Mahindra & Mahindra, Mercedes, and Mitsubishi.