Global Vehicle Conversion Market 2023-2027
The vehicle conversion market is forecasted to grow by USD 2167.54 mn during 2022-2027, accelerating at a CAGR of 7.75% during the forecast period. The report on the vehicle conversion market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by stringent government regulations on fuel emission, a growing focus on electric technology for vehicles, and government support for vehicle conversion and EVs.
Technavio's vehicle conversion market is segmented as below:
By Type
By Vehicle Type
- Passenger Car
- Commercial Vehicle
- Others
By Geographical Landscape
- North America
- APAC
- Europe
- South America
- Middle East and Africa
This study identifies the increasing development of low-cost vehicle conversion kits as one of the prime reasons driving the vehicle conversion market growth during the next few years. Also, growing development by vendors and growing development of solar hybrid electric cars will lead to sizable demand in the market.
The report on the vehicle conversion market covers the following areas:
- Vehicle conversion market sizing
- Vehicle conversion market forecast
- Vehicle conversion market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading vehicle conversion market vendors that include Adventure Van Custom Conversions, Canadian Electric Vehicles Ltd., Dave In Action LLC, Deere and Co., DIYEV Inc., Electric Classic Cars, Electric GT Inc., EV Source, EV4U Custom Conversions, EVDrive, Glampervan, Green Shed Conversions, HI PERFORMANCE ELECTRIC VEHICLE SYSTEMS, Kisae Technology Inc., OPTO innovation, retroEv, Road Warrior Conversions, Stealth EV, ZENVANZ, and EV West. Also, the vehicle conversion market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.