Minivans - Ireland

Ireland

Highlights

Revenue in the Minivans market is projected to reach US$113m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.43%, resulting in a projected market volume of US$134m by 2029.
Minivans market unit sales are expected to reach 5.4k vehicles in 2029.
The volume weighted average price of Minivans market in 2024 is expected to amount to US$25k.
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 Ireland has been experiencing steady growth in recent years. Customer preferences for spacious and versatile vehicles, coupled with local special circumstances and underlying macroeconomic factors, have contributed to this trend.

Customer preferences: In Ireland, customers have shown a strong preference for minivans due to their spacious interiors and flexible seating arrangements. Families, in particular, value the ability to comfortably transport multiple passengers and luggage. Additionally, the versatility of minivans makes them popular among businesses and organizations that require transportation for groups of people.

Trends in the market: One of the key trends in the minivans market in Ireland is the increasing demand for hybrid and electric models. As environmental concerns become more prominent, customers are seeking more sustainable transportation options. Hybrid and electric minivans offer lower emissions and improved fuel efficiency, making them an attractive choice for environmentally-conscious consumers. Another trend in the market is the integration of advanced technology features in minivans. Customers in Ireland are increasingly interested in vehicles that offer connectivity options, such as Bluetooth and smartphone integration. Additionally, safety features such as lane departure warning and automatic emergency braking are becoming standard in many minivan models.

Local special circumstances: Ireland's population has been growing steadily in recent years, resulting in an increased demand for transportation. Minivans provide an ideal solution for families and organizations that require spacious and versatile vehicles. Additionally, Ireland's tourism industry contributes to the demand for minivans, as tourists often prefer to explore the country in larger groups.

Underlying macroeconomic factors: Ireland's strong economy has played a significant role in the growth of the minivans market. With a stable job market and rising disposable incomes, consumers have more purchasing power to invest in vehicles. Additionally, favorable financing options and low interest rates have made it easier for customers to afford minivans. In conclusion, the Minivans market in Ireland is experiencing growth due to customer preferences for spacious and versatile vehicles, the increasing demand for hybrid and electric models, the integration of advanced technology features, local special circumstances such as population growth and the thriving tourism industry, and underlying macroeconomic factors including a strong economy and favorable financing options.

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).