The key players in the minivan market are SAIC Motor Corporation, Nissan Motor Co Ltd, Toyota Motor Corporation, Honda Motor Corporation Ltd, Ford Motor Company, Hyundai Motor Corporation, Kia Corporation, General Motors Corporation, Daimler AG, Mahindra Group, Suzuki Motor Corporation, Bayerische Motoren Werke AG, Volkswagenwerk GmbH, Tata Motors Ltd and Stellantis N.
NEW YORK, Nov. 30, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Minivan Global Market Report 2022: Ukraine-Russia War Impact” – https://www.reportlinker.com/p06368679/?utm_source =GNW
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The global minivan market is expected to grow from USD 95.52 billion in 2021 to USD 100.83 billion in 2022, at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war has undermined the global economy’s chances of recovering from the COVID-19 pandemic, at least in the short term. The war between the two countries has led to economic sanctions in several countries, soaring commodity prices and disrupted supply chains, affecting many markets around the world. The minivan market is projected to grow to USD 114.52 billion by 2026, at a CAGR of 3.2%.
The minivan market includes minivans sold by entities (organizations, sole traders, and partnerships) used to carry passengers and transport goods. Compared to regular cars, minivans are larger vehicles capable of carrying more passengers.
In a minivan, the rear seats can be removed to convert the minivan into a van or delivery van. Minivans have taller roofs, high H-point passenger seats, and sliding doors for fewer passengers or cargo.
The main product types of minivans are plug-in minivans, hybrid minivans, mini MPVs, compact MPVs, and large MPVs. Plug-in minivans use an external energy source to power the battery through cables.
The plug-in minivan has a battery inside that can be charged via a cable and simply plugs into a gas station to run. Different fuel types include diesel, petrol, electric, etc.
Various applications include commercial vehicles and passenger vehicles.
Asia Pacific is the largest region for the minivan market in 2021. Regions covered in the minivan market report include Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Rising demand for electric vehicles is expected to drive the growth of the minivan market. An electric vehicle is a vehicle powered by one or more electric motors.
To protect the environment from pollution and reduce fuel costs while accommodating more passengers and transporting cargo, there is an increasing demand for electric minivans. For example, according to the International Energy Agency (IEA), an autonomous, intergovernmental organization based in France, there will be 10 million electric vehicles on the road globally in 2020, a 43% increase from 2019.
Hence, the growing demand for electric vehicles is driving the growth of the minivan market.
Technological advancements are a major trend gaining traction in the minivan market. Key players in the minivan segment are focusing on advanced technologies to lead the market.
For example, in January 2022, Toyota launched the new fourth-generation Noah and Voxy minivans in Japan. They are equipped with advanced driver support technologies such as Advanced Parking (with remote functionality) and Advanced Driving (support in traffic jams).
They come with Toyota Safety Sense, an active safety suite with advanced features.
In May 2022, India-based car manufacturing company Mahindra & Mahindra partnered with Volkswagen to use MEB electric components such as battery system components, electric motors and battery cells for its new Born Electric Platform. This collaboration aims to achieve the common goal of the two companies working together to drive the electrification of the Indian automotive market.
Volkswagen, a German-based motor vehicle manufacturer.
The countries covered in the Minivan Market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom, United States.
The Minivan Market research report is one of a series of new reports that provide statistics on the Minivan market, including global market size, regional share, competitors with Minivan market share, detailed Minivan segments, market trends and opportunities, and Any further data you may have is needed to thrive in the minivan industry. This Minivan Market research report provides a complete perspective of everything you need and an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06368679/?utm_source=GNW
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