PUBLISHER: The Business Research Company | PRODUCT CODE: 1650637
PUBLISHER: The Business Research Company | PRODUCT CODE: 1650637
Minivans are larger vehicles designed to accommodate more passengers compared to regular cars. These vehicles feature a higher roof, high H-point seating for passengers, and sliding doors, making them suitable for transporting passengers or goods. Minivans often allow for the removal of rear seats, converting them into cargo carriers or delivery vehicles.
The main types of minivans include plug-in minivans, hybrid minivans, mini MPVs (Multi-Purpose Vehicles), compact MPVs, and large MPVs. Plug-in minivans utilize external energy sources to power batteries through cables. They are equipped with an internal battery that can be charged by plugging it into an electric cable at a charging station. Minivans can run on various fuel types, including diesel, petrol, electricity, and others. These vehicles find applications in both commercial and passenger transport.
The minivan market research report is one of a series of new reports from The Business Research Company that provides minivan market statistics, including global minivan industry size, regional shares, competitors with market share, detailed minivan market segments, market trends, and opportunities, and any further data you may need to thrive in the minivan industry. This minivan market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The minivans market size has grown steadily in recent years. It will grow from $105.2 billion in 2024 to $108.2 billion in 2025 at a compound annual growth rate (CAGR) of 2.9%. The growth in the historic period can be attributed to changing consumer preferences, rise in demand for versatile and multi-purpose vehicles, adoption of minivans by families forTheir passenger and cargo capacity, growth inThe suburban and family-oriented lifestyle, marketing efforts emphasizing safety features and family-friendly designs.
The minivans market size is expected to see steady growth in the next few years. It will grow to $129.26 billion in 2029 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to integration of advanced connectivity and entertainment features in minivans, increasing emphasis on interior flexibility and modular seating arrangements, growth in the shared mobility and ride-sharing industry with minivans, adoption of autonomous driving technologies in minivan designs, surge in demand for electric and hybrid minivan models. Major trends in the forecast period include development of more compact and fuel-efficient, emphasis on luxury features and premium interiors, use of lightweight materials and aerodynamic designs for improved efficiency, customization of minivans for specialized applications, collaboration between automakers and technology companies.
The minivan market is poised for growth, driven by the increasing demand for electric vehicles. Electric minivans are gaining popularity as consumers seek environmentally friendly options that reduce fuel costs while accommodating more passengers and cargo. The International Energy Agency (IEA) reported a 43% increase in global electric vehicles on the road in 2020, reaching 10 million units. The percentage of electric cars in total car sales also rose from 9% in 2021 to 14% in 2022, highlighting the surge in demand for electric vehicles and, consequently, propelling the growth of the minivan market.
The aging population is identified as another factor propelling the growth of the minivan market. As the global population ages, there is an increasing need for comfortable and accessible transportation. Minivans are well-suited to meet the mobility challenges of the elderly, providing ample space for caregivers and medical equipment. The World Health Organization projects a significant increase in the global population aged 60 and older, from 1 billion in 2020 to 1. 4 billion by 2030. By 2050, this demographic is expected to double, reaching 2. 1 billion. The minivan market responds to the demands of an aging population by offering practical and accommodating transportation solutions.
Technological advancements are key trends gaining momentum in the minivan market. Major players in the sector are focusing on implementing advanced technologies to maintain a competitive edge. For example, in January 2022, Toyota launched the new fourth-generation Noah and Voxy minivans in Japan. These models feature advanced driving support technologies, including an advanced parking system with remote functionality and a driving assist feature for traffic congestion. Additionally, they are equipped with Toyota Safety Sense, an active safety package that offers enhanced functionalities.
Major companies in the minivan market are introducing new models, such as the Staria Kinder, to provide safe and eco-friendly transportation solutions. The Staria Kinder is designed as an 11 or 15-seat school minivan, tailored for safe and efficient transport. For example, in January 2022, Toyota Motor Corporation, a Japanese multinational automotive manufacturer, launched the new Noah and Voxy minivans in Japan. These minivans offer enhanced comfort, convenience, and peace of mind, aiming to bring joy to all passengers. The new models feature improved usability with enhancements like universal steps, free-stop rear hatches using a karakuri mechanism, and advanced safety systems such as Toyota Safety Sense and Toyota Teammate. Additionally, they showcase better dynamic performance through the next-generation hybrid system.
In May 2022, Mahindra & Mahindra, an India-based automotive manufacturer, partnered with Volkswagen to utilize MEB electric components for its new Born Electric Platform. This strategic partnership aims to electrify the automotive market in India, with Volkswagen, a Germany-based motor vehicle manufacturer, contributing battery system components, electric motors, and battery cells.
Major companies operating in the minivans market include Shanghai Automotive Industry Corporation, Nissan Motor Co Ltd., Toyota Motor Corporation, Honda Motor Co Ltd., Ford Motor Company, Hyundai Motor Company, Kia Corporation, General Motors Company, Daimler AG, Mahindra Group, Suzuki Motor Corporation, Volkswagenwerk GmbH, Tata Motors Ltd., Stellantis NV, Chrysler Group LLC, Dodge Brothers Motor Company, Chevrolet, Auto Union AG, Peugeot Societe Anonyme, Automobiles Citroen, Renault SA, Mitsubishi Corporation, Mazda Motor Corporation
Asia-Pacific was the largest region in the minivan market in 2024. The regions covered in the minivans market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the minivans market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The minivan market consists of sales of electric drive and control system, driving force transmission and other mechanical systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Minivans Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on minivans market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for minivans ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The minivans market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.