Minivans Market Segments, Opportunity, Growth and Forecast by End-Use Industry 2023 -2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Minivans Global Market Report 2023 identifies rising demand for electric vehicles as the major driver for the Minivans market's growth in the forecast period. Electric vehicles refer to vehicles that use one or more electric motors as means of propulsion that run on electric power. There is a rise in demand for electric minivans to protect the environment from pollution and to reduce the cost of fuel while accommodating more passengers and transporting goods. For instance, according to International Energy Agency (IEA), a France-based autonomous intergovernmental organization, 10 million electric vehicles were on road globally in 2020, a 43% increase from 2019. Therefore, the rising demand for electric vehicles is driving the growth of the minivans market.

The global minivans market size grew from $102.57 billion in 2022 to $108.21 billion in 2023 at a compound annual growth rate (CAGR) of 5.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The minivans market size is expected to grow to $132.93 billion in 2027 at a CAGR of 5.3%.

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Major competitors in the Minivans market are SAIC Motor Corporation Limited, Nissan Motor Co. Ltd., Toyota Motor Corporation, Honda Motor Co. Ltd., Ford Motor Company, Hyundai Motor Company, Kia Corporation, General Motors Company, Daimler AG, Mahindra Group, Suzuki Motor Corporation, Bayerische Motoren Werke AG, Volkswagenwerk GmbH, Tata Motors Limited, and Stellantis N.V.

A key trend in the Minivans market includes Technological advancement. Major players in the minivans sector are focusing on advanced technologies to lead the market. For instance, in January 2022, Toyota launched new fourth-generation Noah and Voxy minivans in Japan. These are equipped with advanced driving support technologies such as advanced park (with remote function) and advanced drive (support during traffic congestion). They are equipped with Toyota Safety Sense, the active safety package with advanced functionality.

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The Minivans market is segmented -
1) By Product Type: Plug-In Minivan, Hybrid Minivan, Mini MPV, Compact MPV, Large MPV
2) By Fuel Type: Diesel, Petrol, Electric, Other Fuel Types
3) By Application: Commercial Vehicle, Passenger Vehicle

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Minivans market.

The Business Research Company's "Global Minivans Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Minivans Market Include:
1. Executive Summary
2. Minivan Market Characteristics
3. Minivan Market Trends And Strategies
4. Minivan Market - Macro Economic Scenario
5. Minivan Market Size And Growth
……
27. Minivan Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Minivan Market
29. Minivan Market Future Outlook and Potential Analysis
30. Appendix

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