Minivans - Iran | Statista Market Forecast

Minivans - Iran

Iran

Highlights

Revenue in the Minivans market is projected to reach US$3bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.15%, resulting in a projected market volume of US$3bn by 2029.
Minivans market unit sales are expected to reach 110.2k vehicles in 2029.
The volume weighted average price of Minivans market in 2024 is expected to amount to US$28k.
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 Iran is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Minivans market in Iran are shifting towards vehicles that offer spaciousness, versatility, and practicality.

Families and businesses alike are seeking vehicles that can accommodate multiple passengers and provide ample cargo space. This preference for minivans is driven by the need for comfortable transportation options for large families and the practicality of transporting goods for businesses. Additionally, the growing popularity of road trips and outdoor activities has increased the demand for vehicles that can accommodate both passengers and their belongings.

Trends in the Minivans market in Iran also contribute to its development. One notable trend is the increasing demand for environmentally friendly vehicles. As concerns about climate change and air pollution grow, more consumers are opting for hybrid or electric minivans that offer lower emissions and better fuel efficiency.

This trend is driven by both government incentives and consumer awareness of the environmental impact of their transportation choices. Another trend is the integration of advanced technology and safety features in minivans. Consumers are increasingly seeking vehicles with features such as touchscreen infotainment systems, advanced driver-assistance systems, and connectivity options.

These technological advancements enhance the overall driving experience and provide added convenience and safety for passengers. Local special circumstances in Iran also contribute to the development of the Minivans market. Iran has a large population, and families tend to be larger compared to other countries.

This leads to a higher demand for vehicles that can accommodate multiple passengers, making minivans a popular choice. Additionally, Iran has a strong entrepreneurial culture, with many small businesses relying on minivans for their transportation needs. These businesses often require vehicles that can carry both passengers and cargo, making minivans a practical choice.

Underlying macroeconomic factors further drive the development of the Minivans market in Iran. The country's economic growth and increasing disposable income levels have led to a rise in consumer spending power. As a result, more individuals and businesses can afford to purchase minivans, boosting market demand.

Additionally, government policies and incentives to promote domestic automobile manufacturing have encouraged the production and sale of minivans in Iran. This has led to increased competition among local manufacturers, resulting in a wider range of options for consumers and further market growth. In conclusion, the Minivans market in Iran is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.

The demand for spacious and practical vehicles, the integration of advanced technology, Iran's large population and entrepreneurial culture, and the country's economic growth and government policies all contribute to the positive trajectory of the market.

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).