Large Cars - Netherlands

Netherlands

Revenue in the Large Cars market is projected to reach US$1,428m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of -0.94%, resulting in a projected market volume of US$1,375m by 2028.
Large Cars market unit sales are expected to reach 35,010.0vehicles in 2028.
The volume weighted average price of Large Cars market in 2024 is expected to amount to US$40k.
From an international perspective it is shown that the most revenue will be generated in China (US$106,900m in 2024).

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

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Analyst Opinion

The Large Cars market in Netherlands has been experiencing steady growth in recent years, driven by customer preferences for spacious and luxurious vehicles. With a strong economy and a high standard of living, Dutch consumers have shown a growing demand for large cars that offer comfort, style, and advanced features.

Customer preferences: Dutch consumers have a strong preference for large cars that provide ample space for both passengers and cargo. This is particularly important for families and individuals who value practicality and convenience. Additionally, there is a growing trend towards luxury and premium vehicles, as consumers are willing to invest in high-end features and technologies that enhance their driving experience.

Trends in the market: One of the key trends in the Large Cars market in Netherlands is the increasing popularity of SUVs. These vehicles offer a combination of spacious interiors, elevated driving positions, and off-road capabilities, making them appealing to a wide range of consumers. SUVs have become the go-to choice for families, outdoor enthusiasts, and individuals who value versatility and performance. Another trend in the market is the rising demand for electric and hybrid large cars. As environmental concerns gain prominence, more Dutch consumers are opting for eco-friendly vehicles that reduce their carbon footprint. Electric and hybrid large cars not only offer lower emissions but also provide the same level of comfort and performance as their gasoline counterparts.

Local special circumstances: The Netherlands has a well-developed charging infrastructure, which has contributed to the growing demand for electric and hybrid large cars. The government has implemented policies and incentives to promote the adoption of electric vehicles, such as tax breaks and subsidies. This has made electric and hybrid large cars more accessible and affordable for Dutch consumers.

Underlying macroeconomic factors: The strong economy of the Netherlands has played a significant role in the growth of the Large Cars market. With a high GDP per capita and low unemployment rates, Dutch consumers have the purchasing power to invest in large cars. Additionally, low interest rates and favorable financing options have made it easier for consumers to afford these vehicles. Furthermore, the Netherlands has a well-developed road infrastructure and a culture that values personal mobility. This has created a favorable environment for the growth of the Large Cars market, as consumers rely heavily on cars for their daily commute and transportation needs. In conclusion, the Large Cars market in Netherlands is experiencing growth due to customer preferences for spacious and luxurious vehicles, the increasing popularity of SUVs, the rising demand for electric and hybrid cars, the well-developed charging infrastructure, and the strong economy of the country. These factors have contributed to the steady expansion of the market and are expected to continue driving its growth in the future.

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).