Minivans - United Arab Emirates

United Arab Emirates

Revenue in the Minivans market is projected to reach US$551m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.98%, resulting in a projected market volume of US$579m by 2029.
Minivans market unit sales are expected to reach 19.8k 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 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 United Arab Emirates has seen significant growth in recent years, driven by changing customer preferences and favorable market conditions.

Customer preferences: Customers in United Arab Emirates have shown a growing preference for minivans due to their versatility and practicality. Minivans offer ample space for passengers and cargo, making them ideal for families and businesses. Additionally, the increased focus on safety features and advanced technology in minivans has also appealed to customers in United Arab Emirates.

Trends in the market: One of the key trends in the minivans market in United Arab Emirates is the increasing demand for hybrid and electric minivans. As the country aims to reduce its carbon footprint and promote sustainable transportation, customers are opting for more environmentally-friendly options. Hybrid and electric minivans offer lower emissions and improved fuel efficiency, making them an attractive choice for eco-conscious customers. Another trend in the market is the integration of advanced technology and connectivity features in minivans. Customers in United Arab Emirates are increasingly seeking vehicles that offer seamless integration with their smartphones and other devices. Minivans equipped with features such as touchscreen infotainment systems, Bluetooth connectivity, and advanced safety technologies have gained popularity among customers.

Local special circumstances: United Arab Emirates has a large expatriate population, which has contributed to the growth of the minivans market. Many expatriate families prefer minivans as they provide ample space for their families and belongings. Additionally, the country's tourism industry also contributes to the demand for minivans, as tourists often require transportation options that can accommodate larger groups.

Underlying macroeconomic factors: The growing economy of United Arab Emirates has played a significant role in the development of the minivans market. As the country continues to experience economic growth, disposable incomes have increased, allowing more customers to afford minivans. Additionally, favorable government policies and incentives have also encouraged the growth of the automotive industry, including the minivans segment. In conclusion, the Minivans market in United Arab Emirates has experienced significant growth due to changing customer preferences, including a demand for hybrid and electric vehicles, as well as advanced technology features. The country's large expatriate population and thriving tourism industry have also contributed to the market's development. Furthermore, the growing economy and favorable government policies have created a conducive environment for the growth of the minivans market in United Arab Emirates.

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).