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Minivans - Burkina Faso

Burkina Faso
  • Revenue in the Minivans market is projected to reach US$835k in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -1.38%, resulting in a projected market volume of US$779k by 2029.
  • Minivans market unit sales are expected to reach 36.0vehicles in 2029.
  • The volume weighted average price of Minivans market in 2024 is expected to amount to US$22k.
  • From an international perspective it is shown that the most revenue will be generated China (US$42bn in 2024).

The Minivans Market segment includes passenger cars of an average footprint around 4.25m2 (46 ft2) and an average mass around 1600kg (3500lbs), with their roofs extended in the back in order to prioritize their passenger and cargo volume (up to 3.7 m3 or 130 ft3). The defining features of this segment include sliding doors and three rows of seats. A passenger car model always serves as the technical basis. All key figures shown represent the sales of new minivans in the basic configuration in the respective year. Used vehicles are not taken into account, nor is adapted equipment for the new cars sold. The prices and revenues shown as well as the distribution of connectivity, drive types, autonomy levels, and average CO2 emissions are accordingly based on the basic models.

  • European Car Segment: M (Multi-Purpose Cars – excluding vans)
  • US Car Segment: MPV, Minivan
  • Chinese Car Segment: Multi-Purpose Vehicles
  • Also known as: MPV, Multi-Purpose Cars, People Carrier

Example models: Citroën C4 Picasso, Peugeot 5008, Fiat 500L, Kia Carnival.

In-Scope

  • Passenger cars - Minivans

Out-Of-Scope

  • Cargovans and Minibuses
  • Pickup trucks
Minivans: market data & analysis - Cover

Market Insights report

Minivans: market data & analysis

Study Details

    Unit Sales

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Mar 2024

    Analyst Opinion

    The Minivans market in Burkina Faso is experiencing significant growth and development.

    Customer preferences:
    Burkina Faso has seen a growing demand for minivans in recent years. One of the main reasons for this is the country's increasing urbanization. As more people move to urban areas, the need for reliable and efficient transportation options has become more important. Minivans provide a practical and affordable solution for families and businesses looking to transport larger groups of people or goods.

    Trends in the market:
    The minivans market in Burkina Faso is witnessing a trend towards more fuel-efficient and environmentally friendly vehicles. With rising fuel costs and growing concerns about climate change, consumers are increasingly looking for vehicles that offer better fuel economy and lower emissions. This trend is driving the demand for minivans with hybrid or electric powertrain options. Another trend in the market is the increasing popularity of minivans with advanced safety features. Consumers in Burkina Faso are becoming more aware of the importance of safety and are willing to invest in vehicles that offer advanced safety technologies such as lane departure warning, adaptive cruise control, and automatic emergency braking.

    Local special circumstances:
    Burkina Faso has a unique set of circumstances that contribute to the development of the minivans market. The country has a growing middle class with increasing purchasing power, which has led to a rise in demand for vehicles. Additionally, Burkina Faso has a large population of young people who are entering the workforce and starting families, creating a need for larger vehicles to accommodate their growing families.

    Underlying macroeconomic factors:
    The growth and development of the minivans market in Burkina Faso can be attributed to several underlying macroeconomic factors. The country has experienced stable economic growth in recent years, which has resulted in an increase in disposable income and consumer spending. Additionally, the government has implemented policies to support the automotive industry, such as reducing import duties on vehicles and providing incentives for the production of electric and hybrid vehicles. These factors have created a favorable environment for the growth of the minivans market in Burkina Faso.

    Technical Specifications

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Notes: Level 0: No automation and very limited driver assistance in the form of automatic emergency braking or blind-spot warning. Level 1: Driver assistance such as cruise control or lane centering. Level 2: Partial automation, including brake and steering support. Level 3: Conditional automation in which the vehicle can perform most driving tasks. In certain scenarios, human intervention is still needed.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Price

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Oct 2024

    Source: Statista Market Insights

    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).

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