Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!

How has the parcel delivery vehicle market size evolved in recent years?

The market size for parcel delivery vehicles has seen substantial growth in the recent past. The projected growth indicates an increase from $118.73 billion in 2024 to a whopping $127.73 billion in 2025, with a compound annual growth rate (CAGR) of 7.6%. Factors contributing to this growth during the historic period include the surge in ecommerce, urban development, consumer demand, the increase in courier services, and improvements in last-mile delivery.

What are the predictions for the parcel delivery vehicle market size in the coming years?

Anticipated to undergo substantial growth in the upcoming years, the market size of parcel delivery vehicles is projected to escalate to $187.48 billion in 2029, registering a compound annual growth rate (CAGR) of 10.1%. Such growth during the forecast period can be attributed to factors such as the uptake of electric vehicles, the integration of autonomous and drone deliveries, the application of data analytics in logistics, customizable vehicle designs, and an emphasis on safe, touchless deliveries. The forecast period is expected to witness major trends such as the introduction of innovative ‘last-mile’ robotics, the implementation of environmentally friendly technologies, the emergence of multi-modal delivery networks, the development of modular and versatile vehicle configurations, and the deployment of mobile parcel lockers and hubs.

Get your parcel delivery vehicle market report here!

https://www.thebusinessresearchcompany.com/report/parcel-delivery-vehicle-global-market-report

What key factors are fueling the growth of the parcel delivery vehicle market?

The growth of the parcel delivery vehicle market is anticipated to be propelled by the increasing advancement of e-commerce and internet shopping platforms. E-commerce platforms are essentially websites that facilitate the buying and selling process online, while internet shopping platforms offer customers the opportunity to directly purchase from sellers using a computer browser and the Internet. The growth and popularity of these platforms are creating an expansion in the parcel delivery vehicle market, given their role in making door-to-door delivery of products ordered on these websites possible. For example, in August 2024, the United States Census Bureau, a government agency in the U.S, reported that the second quarter e-commerce retail sales for the year had hit an expected $282.3 billion, showcasing a 5.3% rise in comparison to the first quarter of the previous year, 2023. Therefore, the upward trend in the development of e-commerce and internet shopping platforms is fueling the growth of the parcel delivery vehicle market.

How is the global parcel delivery vehicle market divided into key segments?

The parcel delivery vehicle market covered in this report is segmented –

1) By Type: Class 2a, Class 2b, Class 3, Class 4

2) By Vehicle Type: Light Duty Vehicle, Medium Duty Vehicle, Heavy Duty Vehicle

3) By Gross Weight: 3.5-5 Ton, 6-7.5 Ton, >8 Ton

4) By Operation: Manual, Autonomous

5) By End-Use: Courier Companies, Food Delivery Companies, Fleet Management Companies, Medical Courier Companies, Warehouse Service Providers, E-Commerce

Subsegments:

1) By Class 2a: Light Commercial Vehicles (LCVs), Small Vans

2) By Class 2b: Medium Commercial Vehicles (MCVs), Larger Vans

3) By Class 3: Heavy Commercial Vehicles (HCVs), Box Trucks

4) By Class 4: Trucks Over 7.5 Tonnes, Delivery Trucks

Get your free sample now – explore exclusive market insights:

https://www.thebusinessresearchcompany.com/sample.aspx?id=12353&type=smp

Who are the key firms paving the way for growth in the parcel delivery vehicle market?

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.

Which trends are expected to transform the parcel delivery vehicle market?

One of the main emerging trends in the parcel delivery vehicle market is product innovation. Major players in the market are focusing on the development and introduction of new innovative products and services to maintain their market standing. For instance, the Switzerland-based autonomous vehicle and services company LOXO launched an advanced and distinctive autonomous delivery vehicle called LOXO Alpha in December 2022. This unique delivery vehicle, essentially a small, self-propelled, electric box with compartments for parcels, utilises a range of sensors to navigate. Equipped with advanced radar systems, lidar, sonar, a camera and robust algorithms, it provides a 360-degree view identifying people and objects while ensuring maximum safety. Beyond its zero carbon footprint, the LOXO Alpha also offers additional benefits such as lower delivery costs for companies and decreased shipping costs for consumers.

Unlock exclusive market insights – purchase your research report now for a swift delivery!

https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12353

What regions are contributing significantly to the growth of the parcel delivery vehicle market?

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

Browse Through More Similar Reports By The Business Research Company:

Continuous Delivery Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/continuous-delivery-global-market-report

Express Delivery Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/express-delivery-global-market-report

Autonomous Last Mile Delivery Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/autonomous-last-mile-delivery-global-market-report

About The Business Research Company:

With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: