Full-Size Vans - GCC

The projected revenue in the Full-size Vans market for 2024 is estimated to reach US$546m.
It is expected that the revenue will experience an annual growth rate, specifically a Compound Annual Growth Rate (CAGR) of 1.07%, from 2024 to 2028.
This growth is anticipated to result in a projected market volume of US$570m by 2028.
Additionally, it is projected that unit sales in the Full-size Vans market will reach 22.0k vehicles by 2028.
In 2024, the volume weighted average price of Full-size Vans market in the market segment is expected to be approximately US$26k.
When considering the international market, it is evident that the highest revenue generation will occur United States, with an estimated revenue of US$8,767m in 2024.
This information holds true for the GCC country as well.
The demand for full-size vans in the GCC is driven by the region's booming construction industry and the need for efficient transportation of goods and equipment.

Key regions: Europe, Worldwide, India, United States,

Market

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Region comparison

Currency

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).