Minivans - Greece

Greece

Revenue in the Minivans market is projected to reach US$135m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.38%, resulting in a projected market volume of US$143m by 2028.
Minivans market unit sales are expected to reach 6,761.0vehicles in 2028.
The volume weighted average price of Minivans market in 2024 is expected to amount to US$21k.
From an international perspective it is shown that the most revenue will be generated in China (US$41,980m in 2024).

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

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Analyst Opinion

The Minivans market in Greece has been experiencing steady growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: One of the main reasons for the growth of the Minivans market in Greece is the changing preferences of customers. As families are becoming smaller and more nuclear, there is an increasing demand for vehicles that can accommodate smaller groups of people. Minivans provide the perfect solution for families who want a spacious and comfortable vehicle without the need for a larger SUV or van.

Trends in the market: Another trend in the Minivans market in Greece is the increasing popularity of hybrid and electric minivans. As environmental concerns become more prevalent, customers are looking for greener alternatives to traditional gasoline-powered vehicles. Hybrid and electric minivans offer lower emissions and better fuel efficiency, making them an attractive option for eco-conscious families.

Local special circumstances: Greece has a unique geography and infrastructure that makes minivans a practical choice for many families. The country is known for its mountainous terrain and winding roads, which can be challenging for larger vehicles. Minivans, with their compact size and maneuverability, are better suited for navigating these roads and parking in tight spaces. Additionally, Greece has a strong tourism industry, and minivans are often used as rental vehicles for tourists who want to explore the country in small groups.

Underlying macroeconomic factors: The growth of the Minivans market in Greece can also be attributed to underlying macroeconomic factors. The country has experienced a gradual economic recovery in recent years, leading to increased consumer confidence and disposable income. As a result, more families are able to afford the purchase of a new vehicle, including minivans. Additionally, low interest rates and favorable financing options have made it easier for customers to finance their minivan purchases. In conclusion, the Minivans market in Greece is developing due to changing customer preferences, the popularity of hybrid and electric vehicles, local special circumstances, and underlying macroeconomic factors. As families become smaller and more environmentally conscious, the demand for minivans is expected to continue growing. Additionally, the unique geography and infrastructure of Greece make minivans a practical choice for many families. With the country's economic recovery and favorable financing options, more customers are able to afford the purchase of a new minivan.

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).