Mini Vans Market: Introduction
Mini Vans is a vehicle designed and manufactured to transport passenger in the rear seating row. Mini Vans have reconfigurable seats and the number of rows may vary between two or three. More often Mini Vans have three rows of adult-sized seating designed with a clear intention to maximize the cargo capacity. Mini Van is a term used by American car classification while terms such as Multi-Purpose Vehicle (MPV), people carrier and people mover are also used in other geographies. Mini Vans are more often four-wheel drive or front wheel drive. Mini Vans are usually set up for family or small group use with seating capacity of five or more passengers with larger boot space and towing capacity. A Mini Van is considered to be a perfect vehicle for road trip with family due to plenty of space. Owing to several benefits the demand for Mini Vans is estimated to increase at a significant pace. This, in turn, may contribute to the growing market of Mini Vans across the globe during the forecast period.
Mini Vans Market: Dynamics
Growing popularity of Mini Vans as a practical choice in vehicle for an average sized family is estimated to be the key factor driving the demand for Mini Vans across the globe. Another key factor fueling the demand for Mini Vans is the sliding door features. Sliding doors provides significant advantage in easy loading and unloading of kids. Also, its relatively easier to install a child seat through sliding doors. Mini Vans are also sometimes treated as a truck which can carry enormous cargo when not carrying passengers. Being a family friendly vehicle, Mini Vans is expected to project significant demand during the forecast period, subsequently contributing to the growing market of Mini Vans across the globe.
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There are certain challenges to be faced by the market participants in the growth of global Mini Vans market. Mini Vans are available in the market with limited options. Customers might not find a lot of choices in the models as compared to other passenger cars. This in turn is estimated to be one the key restraining factor to the growth of global Mini Vans market during the forecast period. Mini Vans have an undeserved reputation of being uncool in the automotive market as the vehicle do not have much appealing looks. Moreover, Mini Vans are quite large in their size
(Particularly suited for large sized family) and hence do not provide the efficient fuel running when compared to other passenger cars. Mini Vans are also quite expensive and is hardly worthwhile for a small size family. This in turn may significantly hinder the growth of global Mini vans market during the forecast period.
Mini Vans Market: Segment
The global Mini Vans market has been segmented by Weight Class, by Power Source, and by End Use Industries
On the basis of Weight Class, the global Mini Vans market has been segmented as:
- Less than 6000 LBS
- 6001 to 10,000 LBS
On the basis of Power Source, the global Mini Vans market has been segmented as:
- Diesel Engine Mini Vans
- Gasoline Engine Mini Vans
- Battery Power Mini Vans
Mini Vans Market: Regional Outlook
Sales of Mini Vans is expected to be dominated by developed countries of North America and Europe region owing to significantly higher popularity of the vehicle. Developing countries of Asia Pacific region including China, India, Indonesia etc. are also expected to project high growth in the Mini Vans market. Owing to increasing average family size in Australia, the Oceania region is also estimated to witness a significant demand for Mini vans during the forecast period.
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Mini Vans Market: Key Participants
Examples of some of the market participants identified across the value chain of the global Mini Vans market include:
- Kia Motors America, Inc.
- FCA US LLC
- Toyota Motor Corporation
- Honda Motor Company, Ltd
- Ford Motor Company
- Mazda Motor Corporation
- Maruti Suzuki India Limited
- Mahindra & Mahindra Ltd.