Minivans - Netherlands

Netherlands

Revenue in the Minivans market is projected to reach €519m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.66%, resulting in a projected market volume of €592m by 2029.
Minivans market unit sales are expected to reach 28,150.0vehicles in 2029.
The volume weighted average price of Minivans market in 2024 is expected to amount to €21k.
From an international perspective it is shown that the most revenue will be generated in China (€38,980m in 2024).

Key regions: China, Worldwide, India, Europe, United Kingdom

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Analyst Opinion

The Minivans market in Netherlands has seen steady growth in recent years.

Customer preferences: One of the main reasons for the growth in the Minivans market in Netherlands is the changing customer preferences. Customers in Netherlands are increasingly looking for vehicles that offer both practicality and fuel efficiency. Minivans are well-suited to meet these requirements, as they offer ample space for passengers and cargo, while also being more fuel efficient compared to larger SUVs or vans. Additionally, the aging population in Netherlands has also contributed to the demand for Minivans, as they are easier to enter and exit compared to traditional sedans or SUVs.

Trends in the market: One of the key trends in the Minivans market in Netherlands is the increasing popularity of hybrid and electric Minivans. As the government in Netherlands has been promoting environmentally friendly vehicles, more customers are opting for hybrid or electric Minivans to reduce their carbon footprint. This trend is expected to continue in the coming years, as the government introduces more incentives and subsidies for electric vehicles. Another trend in the market is the integration of advanced safety features in Minivans. Customers in Netherlands prioritize safety when purchasing a vehicle, and automakers are responding to this demand by equipping Minivans with features such as blind spot monitoring, lane departure warning, and automatic emergency braking.

Local special circumstances: Netherlands has a well-developed infrastructure for electric vehicles, with a dense network of charging stations across the country. This has made it easier for customers to own and operate electric Minivans, further driving the growth of this segment. Additionally, the high population density in Netherlands has also contributed to the popularity of Minivans, as they are more maneuverable in crowded urban areas compared to larger vehicles.

Underlying macroeconomic factors: The stable and growing economy in Netherlands has also played a role in the development of the Minivans market. With a strong purchasing power, customers in Netherlands are more inclined to invest in vehicles that offer both comfort and practicality. The low interest rates and favorable financing options have also made it easier for customers to purchase Minivans. Furthermore, the government's focus on reducing carbon emissions and promoting sustainable transportation has created a favorable environment for the growth of the Minivans market, particularly the hybrid and electric segments. Overall, the Minivans market in Netherlands is witnessing growth due to changing customer preferences, the popularity of hybrid and electric vehicles, local special circumstances such as the well-developed infrastructure for electric vehicles, and underlying macroeconomic factors such as a stable economy and government support for sustainable transportation.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).