Frost Radar™: Purpose-built Vehicles, 2023

Frost Radar™: Purpose-built Vehicles, 2023

A Benchmarking System to Spark Companies to Action-Innovation that Fuels New Deal Flow and Growth Pipelines

RELEASE DATE
20-Jan-2023
REGION
Global
Research Code: PDCE-01-00-00-00
SKU: AU02493-GL-MR_27414
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Description

Purpose-built vehicles (PBVs) represent the new breed of customized vehicle development. Unlike custom-built vehicle manufacturing processes, in which few alterations are made to existing vehicle models, PBVs are customized from the design phase to suit the application in which the vehicle will be deployed in the future.

The PBV market is fragmented, with most companies launching vehicles for application areas like ride-sharing, last-mile delivery, and recreation purposes. Service providers in these areas require customized vehicles with components and features that are useful for their customers and enable them to achieve high productivity and customer satisfaction levels.

While more than a dozen other companies are exploring or have recently entered the market, Frost & Sullivan has identified 10 companies in this global PBV Radar™ study featuring REE Automotive, Canoo, Hyundai, Kia, Volkswagen, Arrival, Zoox, Cruise, Mobilize, and Rivian as market powerhouses.

The companies considered here have a varying scale of operations—some are automotive startups that design and develop electric, purpose-built, and tailor-made vehicles to suit particular applications, while others are large conventional automotive OEMs converting existing vehicle models into PBVs that are highly customized to customer requirements as an additional business opportunity segment.

The companies are ranked based on various factors, including the vehicle customization level as per the application needs; innovation in vehicle design that will benefit customers; the feasibility of manufacturing these customized vehicles, the company vision for the PBV market and EV platform strategies; and technology advancements such as autonomous capability and software-defined vehicle architecture.

Author: Thanigesh Arumugam Parthasarathi

Table of Contents

The Strategic Imperative

The Strategic Imperative (continued)

The Growth Environment

Frost Radar™: Purpose-built Vehicles Market

Frost Radar™: Competitive Environment

Frost Radar™: Competitive Environment (continued)

REE Automotive

Canoo

Rivian

Hyundai

Kia

Arrival

Cruise

Zoox

Volkswagen

Mobilize

Strategic Insights

Significance of Being on the Frost Radar™

Frost Radar™ Empowers the CEO’s Growth Team

Frost Radar™ Empowers Investors

Frost Radar™ Empowers Customers

Frost Radar™ Empowers the Board of Directors

Frost Radar™: Benchmarking Future Growth Potential

Frost Radar™: Benchmarking Future Growth Potential

Legal Disclaimer

Purpose-built vehicles (PBVs) represent the new breed of customized vehicle development. Unlike custom-built vehicle manufacturing processes, in which few alterations are made to existing vehicle models, PBVs are customized from the design phase to suit the application in which the vehicle will be deployed in the future. The PBV market is fragmented, with most companies launching vehicles for application areas like ride-sharing, last-mile delivery, and recreation purposes. Service providers in these areas require customized vehicles with components and features that are useful for their customers and enable them to achieve high productivity and customer satisfaction levels. While more than a dozen other companies are exploring or have recently entered the market, Frost & Sullivan has identified 10 companies in this global PBV Radar™ study featuring REE Automotive, Canoo, Hyundai, Kia, Volkswagen, Arrival, Zoox, Cruise, Mobilize, and Rivian as market powerhouses. The companies considered here have a varying scale of operations—some are automotive startups that design and develop electric, purpose-built, and tailor-made vehicles to suit particular applications, while others are large conventional automotive OEMs converting existing vehicle models into PBVs that are highly customized to customer requirements as an additional business opportunity segment. The companies are ranked based on various factors, including the vehicle customization level as per the application needs; innovation in vehicle design that will benefit customers; the feasibility of manufacturing these customized vehicles, the company vision for the PBV market and EV platform strategies; and technology advancements such as autonomous capability and software-defined vehicle architecture. Author: Thanigesh Arumugam Parthasarathi
More Information
Author Thanigesh Arumugam Parthasarathi
Industries Automotive
No Index No
Is Prebook No
Keyword 1 purpose built vehicles
Keyword 2 PBV market
Keyword 3 Purpose-Built Mobility Vehicles
Podcast No
WIP Number PDCE-01-00-00-00