Minivans - Sweden | Statista Market Forecast

Minivans - Sweden

Sweden

Highlights

Revenue in the Minivans market is projected to reach US$235m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.07%, resulting in a projected market volume of US$273m by 2029.
Minivans market unit sales are expected to reach 9.8k 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 Sweden has been experiencing significant growth in recent years.

Customer preferences: Swedish customers have shown a strong preference for minivans due to their practicality and versatility. Minivans offer ample space for both passengers and cargo, making them ideal for families and individuals with active lifestyles. Additionally, the safety features and advanced technology found in many minivans appeal to Swedish consumers who prioritize safety and innovation in their purchasing decisions.

Trends in the market: One notable trend in the Minivans market in Sweden is the increasing demand for hybrid and electric minivans. As Sweden continues to prioritize sustainability and reduce carbon emissions, consumers are seeking more environmentally-friendly transportation options. Hybrid and electric minivans offer lower fuel consumption and reduced emissions, making them an attractive choice for eco-conscious consumers. Another trend in the market is the rise of luxury minivans. Swedish consumers are willing to invest in high-end vehicles that offer premium features and luxurious interiors. Luxury minivans provide a comfortable and stylish driving experience, appealing to those who value both functionality and sophistication.

Local special circumstances: Sweden's geography and climate also play a role in the development of the Minivans market. The country's vast landscapes and changing seasons make minivans a practical choice for navigating various terrains and weather conditions. The spacious interiors and all-wheel drive capabilities of many minivans make them well-suited for Swedish roads, especially during winter months when snow and ice are common.

Underlying macroeconomic factors: Sweden's strong economy and high standard of living contribute to the growth of the Minivans market. As disposable incomes rise, consumers have more purchasing power and are able to afford larger vehicles like minivans. Additionally, low interest rates and favorable financing options make it easier for consumers to finance their minivan purchases. In conclusion, the Minivans market in Sweden is experiencing growth due to customer preferences for practical and versatile vehicles, increasing demand for hybrid and electric options, the rise of luxury minivans, local special circumstances such as the country's geography and climate, and underlying macroeconomic factors such as 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).