Minivans - Jordan

Jordan

Revenue in the Minivans market is projected to reach €8m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.37%, resulting in a projected market volume of €8m by 2029.
Minivans market unit sales are expected to reach 311.0vehicles in 2029.
The volume weighted average price of Minivans market in 2024 is expected to amount to €27k.
From an international perspective it is shown that the most revenue will be generated in China (€38,570m in 2024).

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

Marché

Marque

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Minivans market in Jordan has been experiencing steady growth in recent years, driven by customer preferences for spacious and versatile vehicles.

Customer preferences: Customers in Jordan have shown a strong preference for minivans due to their practicality and functionality. Minivans offer ample seating capacity, making them an ideal choice for large families or groups. Additionally, minivans provide plenty of cargo space, allowing for easy transportation of goods and luggage. The versatility of minivans appeals to customers who require a vehicle that can adapt to various needs, such as family outings, road trips, or even commercial purposes.

Trends in the market: One noticeable trend in the Minivans market in Jordan is the increasing demand for hybrid and electric minivans. As environmental concerns continue to rise globally, customers in Jordan are also becoming more conscious of their carbon footprint. Hybrid and electric minivans offer a greener alternative to traditional fuel-powered vehicles, making them an attractive choice for environmentally-conscious consumers. This trend is expected to continue as more automakers introduce hybrid and electric options to their minivan lineup. Another trend in the Minivans market in Jordan is the integration of advanced safety features. Customers are increasingly prioritizing safety when choosing a vehicle, and automakers have responded by equipping minivans with features such as lane departure warning, blind-spot monitoring, and automatic emergency braking. These safety features not only provide peace of mind for customers but also align with the local regulations and standards for vehicle safety in Jordan.

Local special circumstances: One special circumstance that impacts the Minivans market in Jordan is the country's infrastructure and road conditions. Jordan has a diverse landscape, ranging from urban areas to rugged terrains. As a result, customers in Jordan require minivans that can handle different road conditions, including unpaved roads and mountainous terrains. Automakers catering to the Jordanian market need to ensure that their minivans are equipped with features such as all-wheel drive and robust suspension systems to meet the demands of local customers.

Underlying macroeconomic factors: The growth of the Minivans market in Jordan can also be attributed to favorable macroeconomic factors. The country has experienced stable economic growth in recent years, leading to an increase in disposable income among consumers. This rise in purchasing power has allowed more customers to afford minivans, driving the demand in the market. Furthermore, the government of Jordan has implemented policies and initiatives to support the automotive industry, including tax incentives and subsidies for hybrid and electric vehicles. These measures have encouraged customers to consider minivans as a viable option, further boosting the market growth.

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).