Box truck market is anticipated to grow at a CAGR of 4.0% during the forecast period (2024-2031). Box Truck is a a single-unit vehicle with a fully or partially enclosed space with a roof and at least three sides designed for transporting cargo or payload, excluding the driver and passengers. The demand for box truck for both personal and commercial purposes, including transport of a variety of cargo, including food, clothing, building materials, gasoline, and automobiles is contributing to industry growth.
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The rapid growth of online shopping has resulted in a surge in the number of shipments that require delivery. This generates the need for delivery trucks, particularly those capable of navigating metropolitan areas and reaching individual customers’ doorsteps. These trucks’ mobility and compact size allow them to function successfully in urban settings. They are perfect for the last mile of deliveries because they can maneuver through confined spaces, heavy traffic, and small streets with ease. Due to these considerations, the market is growing and manufacturers are being forced to innovate and change to meet the ever-changing demands of last-mile delivery and e-commerce. For instance, in October 2023, Amazon invested in Rivian’s production facility specifically for electric vans including box trucks. The company plans to have at least 100,000 electric delivery vans on the road by 2030. This demonstrates Amazon’s dedication to energizing its delivery team and expanding its capacity in order to satisfy the soaring demand from the e-commerce industry.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Box Truck Market Report Segment
By Product
- Light-duty
- Medium-duty
- Heavy-duty
By Fuel
- Gasoline
- Diesel
- Electric
- Hybrid
By Application
- Commercial
- Industrial
Global Box Truck Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global box truck market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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