Large Cars - Poland

Poland

Highlights

Revenue in the Large Cars market is projected to reach US$2bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.39%, resulting in a projected market volume of US$2bn by 2029.
Large Cars market unit sales are expected to reach 52.8k vehicles in 2029.
The volume weighted average price of Large Cars market in 2024 is expected to amount to US$39k.
From an international perspective it is shown that the most revenue will be generated China (US$106bn in 2024).

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Large Cars market in Poland has been experiencing steady growth in recent years.

Customer preferences: Polish consumers have shown a growing preference for large cars, particularly SUVs and sedans. This can be attributed to several factors. Firstly, large cars offer more space and comfort, which is appealing to families and individuals who prioritize comfort and convenience. Secondly, the perception of safety associated with large cars has also contributed to their popularity. Polish consumers are increasingly concerned about safety on the road, and large cars are seen as providing better protection in the event of an accident. Finally, the status symbol associated with owning a large car has also played a role in driving demand. Many Polish consumers view large cars as a symbol of success and wealth, and are willing to invest in these vehicles to enhance their social status.

Trends in the market: One of the key trends in the Large Cars market in Poland is the increasing demand for SUVs. SUVs have become the preferred choice for many Polish consumers due to their versatility and ruggedness. SUVs offer a higher driving position and better visibility, which is particularly appealing to Polish drivers who often have to navigate through challenging road conditions, especially during the winter months. Additionally, the growing popularity of outdoor activities such as camping and hiking has also contributed to the demand for SUVs, as these vehicles offer ample space for carrying equipment and gear. Another trend in the market is the rising popularity of electric and hybrid large cars. Polish consumers are becoming more environmentally conscious and are looking for greener alternatives to traditional gasoline-powered vehicles. Electric and hybrid large cars offer lower emissions and better fuel efficiency, making them an attractive option for environmentally conscious consumers. The government of Poland has also introduced incentives and subsidies to promote the adoption of electric and hybrid vehicles, further driving the demand for these cars in the market.

Local special circumstances: Poland's geographical location and climate have a significant impact on the Large Cars market. The country experiences harsh winters, with heavy snowfall and icy roads. As a result, Polish consumers prioritize cars that can handle these challenging conditions, such as vehicles with all-wheel drive and advanced traction control systems. This has contributed to the popularity of SUVs in the market, as these vehicles are known for their off-road capabilities and ability to navigate through snow and ice.

Underlying macroeconomic factors: The growing economy in Poland has played a crucial role in driving the demand for large cars. As disposable incomes increase, more Polish consumers have the financial means to invest in larger and more expensive vehicles. Additionally, the availability of financing options and attractive loan terms have made it easier for consumers to purchase large cars. The stable economic conditions in Poland have also boosted consumer confidence, leading to increased spending on big-ticket items such as cars. In conclusion, the Large Cars market in Poland is experiencing growth due to customer preferences for spacious and safe vehicles, the increasing popularity of SUVs, the rising demand for electric and hybrid cars, the country's unique climate and road conditions, and the favorable macroeconomic factors.

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).