Europe Van Market Expected to Reach $142.6 billion by 2031— Allied Market Research

According to a recent report published by Allied Market Research, titled, “Europe Van Market by vehicle type: opportunity analysis and industry forecast, 2022–2031,” the Europe van market was valued at $81.2 billion in 2021, and is projected to reach $142.6 billion by 2031, registering a CAGR of 5.6% from 2022 to 2031.

UK is a major van market in Europe. Increase in working from home, as a result of the coronavirus crisis, has led to rise in popularity of motorhomes. According to the firm, which converts Volkswagen Transporter vans into campers, there has been a noticeable trend of customers buying its vehicles as somewhere to work from home or as a mobile office. The vehicles act as a base for camping trips and staycations. Volkswagen stated that the coronavirus pandemic has led to rise in demand for motorhomes as customers become more interested in driving holidays and trips around the UK.

Key manufacturers have carried numerous developments in the Europe van market. For instance, in August 2022, Mercedes-Benz expanded its Marco Polo family with new micro-camper panel van module for T-Class. According to the company, T-Class serves families and leisure enthusiasts who need plenty of space but in a more compact vehicle. The T-Class is essentially a posher version of the Citan. In addition, in May 2022, Volkswagen commercial vehicles launched a new Engineered To Go conversion for Crafter Luton van, with Palfinger tail lift available as a model. The Palfinger V500LQ tail lift provides 500kg lifting capacity on an aluminum load platform. The Crafter Luton tail lift conversion is built on the brand’s innovative chassis cab.

Factors such as expansion of the logistics industry, along with development of the automotive industry with a growing inclination toward leisure & recreational activities are some of the prominent factors that propel demand for vans in Europe. However, availability of alternate vehicles and implementation of stringent emission norms are expected to hinder growth of the Europe van market. Moreover, increase in government initiatives for promotion of e-mobility and rise in demand for electric vans from the logistics sector in Europe is expected to provide growth opportunities for the market during the forecast period

The Europe van market is segmented on the basis of vehicle type as small, medium, and large. The small van segment is further divided into panel van and people mover. The panel van segment is sub-divided into converted and non-converted, whereas the people mover segment is divided into converted and non-converted. 

The medium van segment is segregated into panel van and people mover. The panel van segment is further divided into converted and non-converted. The people mover segment is divided into converted and non-converted. The large van segment is divided into panel van, people mover and tipper. The panel van within large van is divided into converted and non-converted. The people mover segment is divided into converted and non-converted.

COVID-19 Impact Analysis:    

The COVID-19 significantly affected the Europe van market in 2020. The disruption in the supply chain had been a major impact of the COVID-19 pandemic in the region. Germany had its vast supply chain network operational across most of the COVID-19-affected countries, including France, Italy, Spain, and the UK. Moreover, vans assisted small businesses through the COVID-19 lockdown. For instance, contactless delivery systems through vans boomed during the COVID-19 pandemic as they reduced the risk of transmission when delivering essential supplies such as food and medications. In 2020, Ford Motor Company and Troy Design & Manufacturing converted four Ford Transit vans into mobile test units for collection of genetic samples in the field and transporting them to labs for testing. However, as the world recovers rapidly from the COVID-19 pandemic, the market is expected to fully recover in the coming years. The market is witnessing a recovery in production and distribution after the pandemic. The Europe van market is projected to witness an optimistic growth scenario over the forecast period.

KEY FINDINGS OF THE STUDY

• By vehicle type, the medium van segment dominated the Europe van market in 2021, in terms of revenue
• By country, the UK is estimated to grow by witnessing the fastest CAGR of 7.8% across the forecast period

Prominent players operating in this van market in Europe are Adventure Van, Affinity RV Sp. z o. o, Alphavan GmbH, Bilbo's Design, Concept Mutli-Car, CoTrim, Danbury, Devon Conversions, Laika Caravans, and Vanderlust.