Purpose-built vehicle market is anticipated to grow at a considerable CAGR of 6.1% during the forecast period (2023-2030). Purpose-built vehicle are the vehicles manufactured according to the need and demand of the consumer. The growing adoption of customized vehicles is coupled with the increasing disposable income is the key factor supporting the growth of the market globally. Companies offering mobility services like Uber in the United States or Didi Chuxing in China require a fleet that enhances the passenger ride. The major features include specific passenger experiences, flexibility of use and low prices. The new purpose-built vehicles are designed to meet the requirements for mobility on demand.
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The global purpose-built vehicle market is segmented on the type, and Application. Based on the type, the market is sub-segmented into fully autonomous and partially autonomous. Based on the application, the market is sub-segmented into car, and taxi. Among the type segment, the partially autonomous sub-segment is anticipated to hold a considerable share of the market owing to increasing government approvals in several countries. For an instance, in June 2023, Mercedes-Benz receive the approval from the California Department of Motor Vehicles to sell or lease vehicles with an automated driving system. Which is not a fully autonomous system. Drivers can’t nap in the car or ride in the backseat without anyone behind the steering wheel.
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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 Purpose-Built Vehicles Market Report Segment
By type
- Fully Autonomous
- Partially Autonomous
By Application
- Cars
- Taxis
Global Purpose-Built Vehicles 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 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global purpose-built vehicle 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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