Minivans - Chad | Statista Market Forecast

Minivans - Chad

Chad

Highlights

Revenue in the Minivans market is projected to reach US$16m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.62%, resulting in a projected market volume of US$17m by 2029.
Minivans market unit sales are expected to reach 587.0vehicles in 2029.
The volume weighted average price of Minivans market in 2024 is expected to amount to US$29k.
From an international perspective it is shown that the most revenue will be generated China (US$42bn in 2024).

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Minivans market in Chad is experiencing steady growth due to customer preferences for versatile and spacious vehicles, as well as local special circumstances and underlying macroeconomic factors.

Customer preferences: Chadian customers prefer minivans for their versatility and spaciousness. Minivans are ideal for large families or groups, allowing for comfortable transportation of both passengers and cargo. Additionally, the flexible seating arrangements and ample storage space make minivans suitable for various purposes, such as personal use, commercial transportation, or even as taxis. The demand for minivans is further driven by the country's rugged terrain, where these vehicles can navigate the challenging roads more effectively than smaller cars or SUVs.

Trends in the market: The minivans market in Chad is witnessing a shift towards more fuel-efficient and environmentally friendly vehicles. As global concerns about climate change and rising fuel prices continue to grow, customers are increasingly opting for minivans with hybrid or electric powertrains. This trend is driven by the desire to reduce both fuel consumption and carbon emissions, aligning with the global push for sustainable transportation solutions. Manufacturers are responding to this trend by introducing hybrid and electric minivans to the Chadian market, providing customers with more eco-friendly options.

Local special circumstances: Chad's geographical location and infrastructure pose unique challenges for transportation. The country's vast desert landscapes and limited road network make off-road capabilities and durability essential for vehicles. Minivans, with their sturdy construction and higher ground clearance, are well-suited to navigate the rugged terrain of Chad. Moreover, the spacious interiors of minivans are particularly advantageous in a country where long-distance travel is common, allowing passengers to travel comfortably for extended periods.

Underlying macroeconomic factors: Chad's growing economy and increasing disposable income are driving the demand for minivans. As the country experiences economic growth, more individuals and businesses have the financial means to invest in vehicles. The affordability and versatility of minivans make them an attractive option for both personal and commercial use. Additionally, the government's efforts to improve infrastructure and expand road networks contribute to the rising demand for vehicles, including minivans, as they provide a reliable mode of transportation. In conclusion, the Minivans market in Chad is growing steadily due to customer preferences for versatile and spacious vehicles, the shift towards more fuel-efficient options, local special circumstances, and the country's improving macroeconomic factors. As the demand for transportation solutions continues to rise, minivans are expected to remain a popular choice among Chadian customers.

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).