Minivans - Indonesia

Indonesia

Revenue in the Minivans market is projected to reach €3,772m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.33%, resulting in a projected market volume of €3,834m by 2029.
Minivans market unit sales are expected to reach 164.0k vehicles in 2029.
The volume weighted average price of Minivans market in 2024 is expected to amount to €23k.
From an international perspective it is shown that the most revenue will be generated in China (€38,980m in 2024).

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

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Analyst Opinion

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

Customer preferences: Indonesian customers have shown a strong preference for minivans due to their versatility and spaciousness. Minivans are popular among families and businesses alike, as they provide ample seating and cargo space. Additionally, the relatively affordable price of minivans compared to larger SUVs and vans makes them an attractive option for many Indonesian consumers.

Trends in the market: One of the key trends in the Indonesian minivans market is the increasing demand for more fuel-efficient and environmentally friendly vehicles. With rising concerns about air pollution and the impact of carbon emissions on the environment, customers are seeking minivans that offer better fuel efficiency and lower emissions. This trend is driving manufacturers to develop hybrid and electric minivans to cater to this growing demand. Another trend in the market is the integration of advanced technology features in minivans. Indonesian consumers are increasingly looking for vehicles that offer modern amenities such as touchscreen infotainment systems, advanced safety features, and connectivity options. Manufacturers are responding to this demand by equipping their minivans with these features to attract customers who value convenience and connectivity.

Local special circumstances: Indonesia is a country with a large population and a growing middle class. As the middle class expands, more families are able to afford minivans as their preferred mode of transportation. The need for transportation to accommodate larger families and the desire for comfort and convenience are driving the demand for minivans in the country.

Underlying macroeconomic factors: The Indonesian economy has been growing steadily in recent years, which has led to an increase in disposable income for many households. This rise in disposable income has allowed more people to afford minivans, contributing to the growth of the market. Additionally, the government's efforts to improve infrastructure and transportation networks have made owning a minivan a more viable option for many Indonesians. In conclusion, the Minivans market in Indonesia is experiencing growth due to customer preferences for versatile and spacious vehicles, the demand for fuel-efficient and technologically advanced minivans, the growing middle class, and the overall economic growth in the country.

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).