Minivans - Switzerland

Switzerland

Highlights

Revenue in the Minivans market is projected to reach US$339m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.17%, resulting in a projected market volume of US$377m by 2029.
Minivans market unit sales are expected to reach 12.5k vehicles in 2029.
The volume weighted average price of Minivans market in 2024 is expected to amount to US$30k.
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 Switzerland has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Switzerland has a unique set of customer preferences when it comes to minivans. The Swiss value practicality and versatility, making minivans an attractive option for families and individuals with active lifestyles. The spacious interiors, ample storage space, and flexible seating arrangements of minivans cater to these preferences. Additionally, Swiss customers prioritize safety features, fuel efficiency, and advanced technology in their vehicles, which are often offered in minivans.

Trends in the market: One of the key trends in the Swiss minivan market is the increasing demand for hybrid and electric minivans. As Switzerland aims to reduce its carbon footprint and promote sustainable transportation, there has been a growing interest in eco-friendly vehicles. Hybrid and electric minivans not only offer lower emissions but also provide cost savings through reduced fuel consumption. This trend is expected to continue as more automakers introduce hybrid and electric options in their minivan lineup. Another trend in the market is the rise of compact minivans. These smaller-sized minivans offer the same practicality and versatility as their larger counterparts but with a more compact footprint. This makes them easier to maneuver in urban areas and park in tight spaces. Compact minivans also tend to be more fuel-efficient, which aligns with the Swiss preference for eco-friendly vehicles.

Local special circumstances: Switzerland's mountainous terrain and harsh winter conditions present unique challenges for minivan owners. Therefore, all-wheel drive and winter driving capabilities are highly valued by Swiss customers. Minivans equipped with these features provide the necessary traction and stability to navigate snowy and icy roads, making them a popular choice among Swiss drivers. Additionally, Switzerland has a strong culture of outdoor activities, such as skiing, hiking, and camping. Minivans with towing capabilities and roof racks are sought after by customers who need to transport equipment for these activities. The ability to carry bikes, skis, and camping gear easily makes minivans a practical choice for Swiss adventurers.

Underlying macroeconomic factors: Switzerland's strong economy and high standard of living contribute to the growth of the minivan market. The country's stable economy and high disposable income levels enable Swiss customers to afford minivans, which tend to be higher-priced vehicles compared to other car segments. Furthermore, Switzerland's low unemployment rate and favorable credit conditions make it easier for individuals to finance the purchase of a minivan. In conclusion, the Minivans market in Switzerland is experiencing growth due to customer preferences for practical and versatile vehicles, the rising demand for hybrid and electric options, and the need for all-wheel drive capabilities in mountainous regions. The unique local special circumstances, such as outdoor activities and harsh winter conditions, further drive the demand for minivans. Switzerland's strong economy and high standard of living also contribute 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).