Minivans - Tunisia

Tunisia

Revenue in the Minivans market is projected to reach US$79m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.16%, resulting in a projected market volume of US$84m by 2029.
Minivans market unit sales are expected to reach 2.7k vehicles 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 in China (US$42,030m in 2024).

Key regions: China, Worldwide, India, Europe, United Kingdom

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Analyst Opinion

The Minivans market in Tunisia has been experiencing significant growth in recent years.

Customer preferences: Customers in Tunisia have shown a strong preference for minivans due to their practicality and versatility. Minivans are spacious and can accommodate large families or groups of people, making them ideal for both personal and commercial use. Additionally, minivans offer a comfortable and smooth ride, which is highly valued by customers in Tunisia.

Trends in the market: One of the key trends in the minivans market in Tunisia is the increasing demand for fuel-efficient vehicles. With rising fuel prices and growing environmental concerns, customers are looking for vehicles that offer good fuel economy. Minivans have been able to meet this demand by incorporating advanced technologies and lightweight materials to improve fuel efficiency without compromising on performance. Another trend in the market is the integration of advanced safety features in minivans. Customers in Tunisia are becoming more conscious about safety and are willing to invest in vehicles that offer a high level of protection. Minivan manufacturers have responded to this trend by equipping their vehicles with features such as advanced braking systems, lane departure warning, and blind spot detection, among others.

Local special circumstances: One of the factors contributing to the growth of the minivans market in Tunisia is the country's tourism industry. Tunisia is known for its beautiful landscapes and cultural heritage, attracting a large number of tourists each year. Minivans are often used as tourist vehicles to transport visitors to various attractions and destinations. The growth of the tourism industry has created a demand for minivans, both for rental and private use.

Underlying macroeconomic factors: The growing middle class in Tunisia has also played a significant role in the development of the minivans market. As disposable incomes rise, more people are able to afford vehicles, and minivans offer an affordable and practical option for families and businesses. Additionally, favorable government policies and incentives for the automotive industry have further stimulated the growth of the minivans market in Tunisia. In conclusion, the Minivans market in Tunisia is experiencing growth due to customer preferences for practical and versatile vehicles, the increasing demand for fuel-efficient and safe vehicles, the country's thriving tourism industry, and the growing middle class and supportive government policies.

Methodology

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).