The global purpose-built vehicles market is anticipated to grow at a considerable CAGR of 6.1% during the forecast period (2023-2030). The purpose-built vehicle (PBV) market is a new business model in the automotive industry that includes original equipment manufacturers (OEMs) designing, manufacturing, and selling highly customized vehicles according to customers’ application needs also the growing demand for mobility services the increasing drastically globally. The increasing investments by key players in the development of these vehicles either by partnership, merger or acquisition is contributing to the global market growth. For an instance, in May 2023, KIA Corp. and Kakao Mobility sign memorandum of understanding to establish a ride-hailing business model for advanced mobility services. Kia to develop dedicated purpose-built vehicle (PBV) models reflecting the needs of software service proposals provided by Kakao Mobility, planned to launch in 2025.Both the companies to construct customer-centric mobility services using extensive vehicle operation data and interaction between in-vehicle-infotainment and software platforms.
According to the 2020 announcement by the World Economic Forum, an international organization for public-private cooperation, the demand for last-mile delivery in 100 cities worldwide is expected to increase by 78.0% by 2030. The number of these vehicles will also increase by 36.0%. And this boosted the global auto industry. Theerefore, key automobile market players are planning a variety of projects, from the electric PBV demonstration project that has already been put into mobility service and commercialized as well as a concept that reflects future automobile technology.
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Market Coverage
- The market number available for – 2022-2030
- Base year- 2022
- Forecast period- 2023-2030
Segment Covered-
- By Type
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- includes, Audi AG, Mercedes-Benz AG, Volvo Car Group, Robert Bosch GmbH, Hyundai Motor Company, and others.
Purpose-Built Vehicles Market Report Segment
By type
- Fully Autonomous
- Partially Autonomous
By Application
- Cars
- Taxis
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Purpose-Built Vehicles Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Arrival Ltd.
- Autoliv Inc.
- CanooTechnologies Inc.
- Continental AutomotiveSystems
- FordMotor Company
- General Motors
- GreenPower Motor
- Hyundai Motor company
- KiaAmerica, Inc.
- Lightning eMotors
- NissanMotor Co. Ltd
- REE Automotive
- 13. Renault Group
- RivianAutomotive, LLC
- Robert Bosch GmbH
- Toyota Motor Corp.
- UberTechnologies Inc.
- Volta Trucks
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