Minivans - Mauritius

Mauritius

Highlights

Revenue in the Minivans market is projected to reach US$20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.30%, resulting in a projected market volume of US$20m by 2029.
Minivans market unit sales are expected to reach 633.0vehicles in 2029.
The volume weighted average price of Minivans market in 2024 is expected to amount to US$31k.
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 Mauritius has experienced significant growth in recent years, driven by changing customer preferences, market trends, and local special circumstances.

Customer preferences: In Mauritius, customers have shown a growing preference for minivans due to their versatility, spaciousness, and practicality. Minivans offer ample seating capacity, making them ideal for large families or groups. Additionally, the flexible seating configurations and ample cargo space make minivans suitable for various purposes, including family outings, commercial transportation, and tourism.

Trends in the market: One of the key trends in the minivans market in Mauritius is the increasing demand for fuel-efficient and environmentally friendly vehicles. As the country focuses on sustainable development and reducing carbon emissions, customers are opting for minivans that offer better fuel efficiency and lower environmental impact. This trend is driven by the availability of hybrid and electric minivans in the market, which provide both economic and environmental benefits. Another trend in the market is the integration of advanced safety features in minivans. Customers in Mauritius are becoming more conscious about safety and are willing to invest in vehicles that offer enhanced protection for both passengers and pedestrians. Minivans equipped with features such as advanced braking systems, lane departure warning, and blind-spot detection are gaining popularity in the market.

Local special circumstances: Mauritius is a popular tourist destination, attracting a significant number of visitors each year. The demand for minivans is fueled by the need for transportation options that can accommodate large groups of tourists. Minivans are often hired by tour operators and hotels to provide transportation services to their guests, contributing to the growth of the market.

Underlying macroeconomic factors: The growth in the minivans market in Mauritius can also be attributed to favorable macroeconomic factors. The country has experienced steady economic growth, leading to an increase in disposable income and purchasing power. As a result, more individuals and businesses are able to afford minivans, driving the demand in the market. Furthermore, the government of Mauritius has implemented policies to support the automotive industry, including tax incentives for the purchase of hybrid and electric vehicles. These incentives have encouraged customers to choose minivans that are more fuel-efficient and eco-friendly, contributing to the growth of the market. In conclusion, the Minivans market in Mauritius is developing due to changing customer preferences, such as the demand for fuel-efficient and safe vehicles, as well as local special circumstances, including the need for transportation options for tourists. Favorable macroeconomic factors, such as steady economic growth and government incentives, 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).