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.
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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.
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.
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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
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