PUBLISHER: The Business Research Company | PRODUCT CODE: 1670813
PUBLISHER: The Business Research Company | PRODUCT CODE: 1670813
A parcel delivery vehicle is an automobile specifically designed for transporting packages or items swiftly from a sender to a receiver, facilitating courier services and cargo transportation.
The primary categories of parcel delivery vehicles include class 2a, class 2b, class 3, and class 4. Class 2a vehicles encompass trucks with gross vehicle weight ratings ranging from 6001 to 10000 pounds, varying in types such as light-duty, medium-duty, and heavy-duty vehicles with different weight capacities such as 3.5-5 tons, 6-7.5 tons, and >8 tons. These vehicles serve for both manual and autonomous operations and are utilized by various end-users, including courier firms, food delivery services, fleet management companies, medical couriers, warehouse service providers, and e-commerce enterprises.
The parcel delivery vehicle market research report is one of a series of new reports from The Business Research Company that provides parcel delivery vehicle market statistics, including parcel delivery vehicle industry global market size, regional shares, competitors with a parcel delivery vehicle market share, detailed parcel delivery vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the parcel delivery vehicle industry. This parcel delivery vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The parcel delivery vehicle market size has grown strongly in recent years. It will grow from $118.73 billion in 2024 to $127.73 billion in 2025 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to e-commerce expansion, urbanization, consumer expectations, the rise of courier services, and last-mile delivery optimization
The parcel delivery vehicle market size is expected to see rapid growth in the next few years. It will grow to $187.48 billion in 2029 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to electric vehicle adoption, autonomous and drone delivery integration, data-driven logistics, customizable vehicle designs, and focus on secure and contactless deliveries. Major trends in the forecast period include innovations in last-mile robotics, incorporation of green technologies, multi-modal delivery networks, modular and adaptable vehicle configurations, and mobile parcel lockers and hubs.
The growing development of e-commerce and online shopping platforms is expected to drive the growth of the parcel delivery vehicle market moving forward. An e-commerce platform refers to any website that facilitates online buying and selling, while internet shopping platforms enable customers to purchase directly from sellers via a computer browser and the internet. The expansion of e-commerce and online shopping platforms is boosting the demand for parcel delivery vehicles, which are used for door-to-door delivery of products ordered through these platforms. For instance, in August 2024, according to the United States Census Bureau, a U.S. government agency, U.S. retail e-commerce sales for the second quarter of 2024 were estimated at $282.3 billion, reflecting a 5.3% increase compared to the first quarter of 2023. Therefore, the growing development of e-commerce and online shopping platforms is fueling the growth of the parcel delivery vehicle market.
The increasing adoption of electric vehicles (EVs) is expected to accelerate the growth of the parcel delivery vehicle market in the future. Electric vehicles are powered by one or more electric motors and utilize electrical energy stored in batteries or other energy storage devices. EVs are increasingly being used as parcel delivery vehicles due to their environmental benefits, helping companies reduce carbon emissions and achieve sustainability targets, particularly in urban areas with stringent emission regulations. Additionally, the lower operating costs, such as reduced maintenance and potential government incentives, make electric vehicles an attractive and cost-effective choice for parcel delivery fleets. For example, in November 2023, according to the U.S. Energy Information Administration, a U.S. government agency, the share of battery-electric vehicles (BEVs) in new light-duty vehicle sales reached 17.7% in the third quarter of 2023, with BEVs accounting for 16.0% of total new vehicle sales for the year, up from 12.5% in 2022 and 9.0% in 2021. Therefore, the increasing adoption of electric vehicles is driving the growth of the parcel delivery vehicle market.
The parcel delivery vehicle market is experiencing a trend of product innovation, with major companies introducing advanced and unique solutions to enhance their positions in the market. One notable example is LOXO, a Switzerland-based autonomous vehicle and services company, which launched LOXO Alpha in December 2022. LOXO Alpha is an innovative autonomous delivery vehicle designed as a small, electrically powered box with compartments for parcels. It utilizes a variety of sensors, including radar systems, lidar, sonar, and cameras, along with robust algorithms to achieve a 360-degree field of view. This enables the vehicle to identify people and objects, ensuring optimal safety during autonomous operations. LOXO Alpha aims to have a minimal carbon footprint, offering benefits such as reduced delivery expenses for companies and lower shipping costs for consumers.
In January 2023, Ideanomics Inc., a United States-based producer of electric commercial delivery vehicles, completed the acquisition of VIA Motors Inc., the manufacturer of commercial electric parcel delivery vehicles, for an undisclosed sum. This acquisition allows Ideanomics Energy to be the preferred provider of charging solutions for VIA Motors. This collaboration enables customers to efficiently utilize various charging solutions such as AC and DC chargers, advanced wireless charging systems, and containerized charging, optimizing the usage of their newly acquired VIA work vehicles.
Major companies operating in the parcel delivery vehicle market include Toyota Motor Corporation, Ashok Leyland, Daimler AG, Ford Motor Company, General Motors, 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.
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
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.
The parcel delivery vehicle market consists of sales of walk-in trucks, cargo vans, box trucks, temperature-controlled vans, and jeeps. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Parcel Delivery Vehicle Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on parcel delivery vehicle market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for parcel delivery vehicle ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The parcel delivery vehicle market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.