Purpose-Built-Vehicles (PBV): Turning Automotive development upside down

The PBV market is booming worldwide. Sales are expected to soar from 320,000 units in 2020 to a whopping 1.3 million units by 2025. Car manufacturers are taking notice, seeing Purpose-Built-Vehicles (PBV) as a key part of future transportation solutions. As our population ages, there’s a growing need for vehicles that are easy to access, especially for those with limited mobility.

Experts predict a steady growth of about 7% each year in this market segment. Ride-sharing and taxi services are also expected to contribute to the PBV boom, with projections of hitting 2.5 million units beyond 2025. In addition, demand for caravaning and service vehicles is increasing, with estimates suggesting that a market volume of over EUR 1 billion will be reached across all segments in 2027.

All these trends point towards a valuable new market segment on the rise.

Read our full study on the evolving market for purpose-built vehicles (PBVs) and the key challenges that must be addressed for success.

Purpose-built-vehicle turning automotive development upside down. Part I and II.pdf

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Title:

Purpose-built-vehicle (PBV): Turning

automotive development upside down

Release Date:

July 2024

Authors:

Dr. Rainer Scholz