Medium Cars - Netherlands

Netherlands

Revenue in the Medium Cars market is projected to reach US$1,444m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of -2.65%, resulting in a projected market volume of US$1,297m by 2028.
Medium Cars market unit sales are expected to reach 51.0k vehicles in 2028.
The volume weighted average price of Medium Cars market in 2024 is expected to amount to US$25k.
From an international perspective it is shown that the most revenue will be generated in China (US$90,060m in 2024).

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

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Analyst Opinion

The Medium Cars market in Netherlands has been experiencing steady growth in recent years.

Customer preferences: In Netherlands, customers have shown a strong preference for medium-sized cars due to their versatility and practicality. Medium cars offer a good balance between fuel efficiency and interior space, making them suitable for both urban and long-distance driving. Additionally, Dutch consumers value safety features and advanced technology in their vehicles, which are often found in medium-sized cars.

Trends in the market: One of the key trends in the Medium Cars market in Netherlands is the increasing demand for electric and hybrid vehicles. As the government and consumers become more environmentally conscious, there has been a shift towards greener transportation options. This trend is further supported by the development of charging infrastructure and government incentives for electric vehicle adoption. Another trend in the market is the rise of car-sharing and ride-hailing services. In urban areas, where parking space is limited and traffic congestion is high, many consumers are opting for these services instead of owning a car. However, when they do need a car for personal use, medium-sized cars are often preferred due to their practicality and affordability.

Local special circumstances: Netherlands is known for its well-developed cycling infrastructure and high bicycle usage. This has led to a unique market dynamic where medium-sized cars are often seen as a secondary mode of transportation, used for longer trips or when cycling is not feasible. As a result, there is a higher demand for smaller and more fuel-efficient cars in the country.

Underlying macroeconomic factors: The strong economy in Netherlands has contributed to the growth of the Medium Cars market. With a high GDP per capita and low unemployment rate, consumers have more disposable income to spend on cars. Additionally, low interest rates and favorable financing options have made it easier for consumers to purchase medium-sized cars. In conclusion, the Medium Cars market in Netherlands is driven by customer preferences for practical and fuel-efficient vehicles, as well as the increasing demand for electric and hybrid cars. The rise of car-sharing and ride-hailing services also influences the market, while the country's unique cycling culture shapes consumer preferences for smaller and more fuel-efficient cars. The strong economy and favorable financing options further support the growth of the market.

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).