Minivans - France | Statista Market Forecast

Minivans - France

France

Highlights

Revenue in the Minivans market is projected to reach US$6bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.74%, resulting in a projected market volume of US$7bn by 2029.
Minivans market unit sales are expected to reach 338.2k vehicles in 2029.
The volume weighted average price of Minivans market in 2024 is expected to amount to US$21k.
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 France has been experiencing significant growth in recent years, driven by changing customer preferences, market trends, and local special circumstances.

Customer preferences: In France, customer preferences for Minivans have shifted towards vehicles that offer a combination of comfort, versatility, and fuel efficiency. With an increasing number of families and individuals seeking vehicles that can accommodate multiple passengers and provide ample cargo space, Minivans have become a popular choice. Additionally, customers are also looking for advanced safety features, technological innovations, and stylish designs in their Minivans.

Trends in the market: One of the key trends in the Minivans market in France is the rise of electric and hybrid Minivans. As the demand for environmentally-friendly vehicles grows, automakers have been introducing electric and hybrid options to cater to this segment of customers. These vehicles offer lower emissions, reduced fuel consumption, and government incentives, making them an attractive choice for eco-conscious consumers. Another trend in the market is the integration of advanced technology and connectivity features in Minivans. Customers now expect features such as touchscreen infotainment systems, smartphone integration, and driver assistance systems in their vehicles. Automakers have been investing in research and development to meet these demands and provide a seamless and connected driving experience.

Local special circumstances: France has a strong infrastructure for electric vehicles, including a well-developed charging network and government incentives for electric vehicle purchases. This has created a conducive environment for the growth of electric and hybrid Minivans in the country. Additionally, the government's push towards reducing emissions and promoting sustainable transportation has also contributed to the popularity of eco-friendly Minivans.

Underlying macroeconomic factors: The growth of the Minivans market in France can also be attributed to favorable macroeconomic factors. The country has seen steady economic growth, low unemployment rates, and increasing disposable incomes. This has led to a rise in consumer spending and a higher demand for vehicles, including Minivans. Furthermore, favorable financing options and competitive pricing offered by automakers have made Minivans more affordable and accessible to a wider range of customers. In conclusion, the Minivans market in France is witnessing growth due to changing customer preferences, market trends, and local special circumstances. The rise of electric and hybrid Minivans, integration of advanced technology, and favorable macroeconomic factors are all contributing to the development of the market. As customers continue to seek vehicles that offer comfort, versatility, and fuel efficiency, the Minivans market in France is expected to expand further in the coming years.

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).