Minivans - Italy | Statista Market Forecast

Minivans - Italy

Italy

Highlights

Revenue in the Minivans market is projected to reach US$4bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.41%, resulting in a projected market volume of US$4bn by 2029.
Minivans market unit sales are expected to reach 151.8k vehicles 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 Italy has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Italian customers have shown a growing preference for minivans due to their practicality and versatility. Minivans offer ample seating capacity, making them ideal for large families or groups of people. Additionally, these vehicles provide generous cargo space, allowing customers to transport both passengers and luggage comfortably. The rise in popularity of outdoor activities, such as camping and road trips, has also contributed to the increased demand for minivans in Italy.

Trends in the market: One of the key trends in the minivans market in Italy is the shift towards more fuel-efficient and eco-friendly vehicles. With rising concerns about environmental sustainability, customers are increasingly opting for hybrid or electric minivans that offer lower carbon emissions and reduced fuel consumption. This trend aligns with the global push towards greener transportation solutions and reflects the growing awareness of environmental issues among Italian consumers. Another trend in the market is the integration of advanced technology features in minivans. Italian customers are increasingly looking for vehicles that offer the latest connectivity options, safety features, and driver-assistance systems. Manufacturers are responding to this demand by equipping their minivans with features such as touchscreen infotainment systems, smartphone integration, advanced safety sensors, and autonomous driving capabilities. These technological advancements enhance the overall driving experience and provide customers with a sense of convenience and safety.

Local special circumstances: Italy's unique geography and cultural factors also contribute to the development of the minivans market. The country's narrow streets, historic city centers, and limited parking spaces make smaller vehicles like minivans more practical for everyday use. Minivans offer better maneuverability in congested urban areas and are easier to park compared to larger SUVs or vans. Additionally, Italian families often prioritize spending quality time together and place importance on shared experiences. The spacious and comfortable interiors of minivans make them an attractive option for family outings and vacations.

Underlying macroeconomic factors: Italy's improving economic conditions have also played a role in the growth of the minivans market. As disposable incomes increase, more Italian households are able to afford larger vehicles with greater seating capacity and cargo space. Additionally, low interest rates and attractive financing options have made it easier for customers to purchase minivans. The availability of affordable and flexible financing solutions has further stimulated demand in the market. In conclusion, the Minivans market in Italy is experiencing growth due to changing customer preferences, such as a preference for practical and versatile vehicles, and local special circumstances, including narrow streets and limited parking spaces. The trend towards fuel-efficient and technologically advanced minivans reflects global concerns about environmental sustainability and the increasing demand for connectivity and safety features. Italy's improving economic conditions and favorable financing options have also contributed to the growth 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).