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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Among the Application, the taxi sub-segment is expected to hold a considerable share of the global purpose built vehicles market. The segmental growth is attributed to the growing demand for customized vehicles in industries and large organizations providing pickup and drop services to its clients and top employees and also for delivery of goods, also Purpose-built taxi provide unique passenger ride experiences. It is a means of transport that is optimized for operational use and moves passengers or cargo safely and efficiently which is the major reason for adoption of customized vehicles.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- 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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