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According to the latest research, the global Multi-Purpose Vehicle (MPV) market size was valued at USD 86254.07 million in 2022 and is expected to expand at a CAGR of 0.41% during the forecast period, reaching USD 88410.56 million by 2028.
Multi-Purpose Vehicle (MPV) evolved from a station wagon. It combines the large passenger space of a station wagon, the comfort of a car, and the functions of a van. Generally, it can seat 5-8 people. Multi-Purpose Vehicle (MPV) for Personal Use is generally used for going to work on weekdays, shopping on weekends, and family outings during holidays.
The development of the new energy industry
In response to the challenges of energy shortage, environmental pollution, and climate warming, and in response to the proposal to achieve zero emissions in the Paris Agreement, many countries around the world have introduced policies to encourage new energy and limit fossil energy. Among them, the new energy vehicle industry is the direction of energy transformation that countries pay more attention to and develop faster. Major countries and regions such as China, the United States, Japan, and EU member states have successively introduced various support policies, such as tax relief, financial subsidies, and regulations on carbon emission standards, to promote the technological upgrading and market promotion of new energy vehicles. The policy of reducing carbon dioxide emissions and the development of new energy vehicle technology have greatly promoted the development of Multi-Purpose Vehicle (MPV) for Personal Use.
Development of automotive technology
The combination of Multi-Purpose Vehicle (MPV) for Personal Use products and technology industries such as communication industry, electronics industry and artificial intelligence industry will promote the development of Multi-Purpose Vehicle (MPV) for Personal Use industry. Such as automatic driving and smart cockpit are the most common configurations of smart cars. Self-driving cars rely on artificial intelligence, visual computing, radar, monitoring devices, and global positioning systems to work together to allow computers to automatically and safely operate motor vehicles without any active human intervention. It is designed to assist drivers to complete driving tasks safely and conveniently. The main functions of the smart cockpit should include graphic interaction, voice interaction, gesture/facial recognition and biometric detection. A complete system consisting of electronic equipment such as rear display screens. Passengers will realize the interactive experience through various methods such as voice control, face recognition, gesture interaction, and even more advanced biometric identification. In addition, the future smart cockpit will use more personalized and intelligent lighting and sound design to serve the assisted driving function. The integration of these new functions will attract young consumers' interest in purchasing Multi-Purpose Vehicle (MPV) for Personal Use, driving the development of the industry.
Region Overview:
In 2021, the share of the Multi-Purpose Vehicle (MPV) market in China stood at 36.40%.
Company Overview:
Toyota, GM, Honda were the top 3 players in the Multi-Purpose Vehicle (MPV) market in 2022, taking up a market share of 52.20% together.
Toyota being an automobile industry manufactures a diverse lineup of vehicle across the world. The company produces for the different brand which are Daihatsu, Hino, Lexus, and Toyota.
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments.
Segmentation Overview:
Among different product types, Compact MPV segment is anticipated to contribute the largest market share in 2027.
Compact MPV is a vehicle size class for the middle size of MPVs. The Compact MPV size class sits between the mini MPV and large MPV size classes. The number of people that a Compact MPV can carry is generally 6-7 people.
Mini MPV is a vehicle size class for the smallest size of MPVs. The mini MPV size class sits below the compact MPV size class. The number of people that a Mini MPV can carry is generally 5 or more.
Large MPV is a vehicle size class for the Largest size of MPVs. The capacity of Large MPV is generally 6-8 people.
Application Overview:
By application, the Private segment occupied the biggest share from 2017 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Multi-Purpose Vehicle (MPV) industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Multi-Purpose Vehicle (MPV). The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Multi-Purpose Vehicle (MPV) Market Report Include:
Market Size Estimates: Multi-Purpose Vehicle (MPV) market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Multi-Purpose Vehicle (MPV) market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Multi-Purpose Vehicle (MPV) market
Segment Market Analysis: Multi-Purpose Vehicle (MPV) market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Multi-Purpose Vehicle (MPV) market situations and prospects in major and top regions and countries
Multi-Purpose Vehicle (MPV) Market
Multi-Purpose Vehicle (MPV) Industry Chain: Multi-Purpose Vehicle (MPV) market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Multi-Purpose Vehicle (MPV) Industry News, Policies by regions
Multi-Purpose Vehicle (MPV) Industry Porters Five Forces Analysis
Key players in the global Multi-Purpose Vehicle (MPV) market are covered in Chapter 2:
DongFeng
Geely
Hyundai
Toyota
SAIC
GM
BMW
FORD
SGMW
Stellantis NV
GAC Group
Nissan
Mercedes-Benz
Volkswagen
Honda
In Chapter 6 and Chapter 9, on the basis of types, the Multi-Purpose Vehicle (MPV) market from 2018 to 2028 is primarily split into:
Compact MPV
Mini MPV
Large MPV
In Chapter 7 and Chapter 10, on the basis of applications, the Multi-Purpose Vehicle (MPV) market from 2018 to 2028 covers:
Private
Enterprise
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Multi-Purpose Vehicle (MPV) market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Multi-Purpose Vehicle (MPV) industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Multi-Purpose Vehicle (MPV) market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Multi-Purpose Vehicle (MPV) industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Multi-Purpose Vehicle (MPV) market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Multi-Purpose Vehicle (MPV) market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Multi-Purpose Vehicle (MPV) market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
2022
Multi-Purpose Vehicle (MPV) evolved from a station wagon. It combines the large passenger space of a station wagon, the comfort of a car, and the functions of a van. Generally, it can seat 5-8 people. Multi-Purpose Vehicle (MPV) for Personal Use is generally used for going to work on weekdays, shopping on weekends, and family outings during holidays.
The development of the new energy industry
In response to the challenges of energy shortage, environmental pollution, and climate warming, and in response to the proposal to achieve zero emissions in the Paris Agreement, many countries around the world have introduced policies to encourage new energy and limit fossil energy. Among them, the new energy vehicle industry is the direction of energy transformation that countries pay more attention to and develop faster. Major countries and regions such as China, the United States, Japan, and EU member states have successively introduced various support policies, such as tax relief, financial subsidies, and regulations on carbon emission standards, to promote the technological upgrading and market promotion of new energy vehicles. The policy of reducing carbon dioxide emissions and the development of new energy vehicle technology have greatly promoted the development of Multi-Purpose Vehicle (MPV) for Personal Use.
Development of automotive technology
The combination of Multi-Purpose Vehicle (MPV) for Personal Use products and technology industries such as communication industry, electronics industry and artificial intelligence industry will promote the development of Multi-Purpose Vehicle (MPV) for Personal Use industry. Such as automatic driving and smart cockpit are the most common configurations of smart cars. Self-driving cars rely on artificial intelligence, visual computing, radar, monitoring devices, and global positioning systems to work together to allow computers to automatically and safely operate motor vehicles without any active human intervention. It is designed to assist drivers to complete driving tasks safely and conveniently. The main functions of the smart cockpit should include graphic interaction, voice interaction, gesture/facial recognition and biometric detection. A complete system consisting of electronic equipment such as rear display screens. Passengers will realize the interactive experience through various methods such as voice control, face recognition, gesture interaction, and even more advanced biometric identification. In addition, the future smart cockpit will use more personalized and intelligent lighting and sound design to serve the assisted driving function. The integration of these new functions will attract young consumers' interest in purchasing Multi-Purpose Vehicle (MPV) for Personal Use, driving the development of the industry.
Region Overview:
In 2021, the share of the Multi-Purpose Vehicle (MPV) market in China stood at 36.40%.
Company Overview:
Toyota, GM, Honda were the top 3 players in the Multi-Purpose Vehicle (MPV) market in 2022, taking up a market share of 52.20% together.
Toyota being an automobile industry manufactures a diverse lineup of vehicle across the world. The company produces for the different brand which are Daihatsu, Hino, Lexus, and Toyota.
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments.
Segmentation Overview:
Among different product types, Compact MPV segment is anticipated to contribute the largest market share in 2027.
Compact MPV is a vehicle size class for the middle size of MPVs. The Compact MPV size class sits between the mini MPV and large MPV size classes. The number of people that a Compact MPV can carry is generally 6-7 people.
Mini MPV is a vehicle size class for the smallest size of MPVs. The mini MPV size class sits below the compact MPV size class. The number of people that a Mini MPV can carry is generally 5 or more.
Large MPV is a vehicle size class for the Largest size of MPVs. The capacity of Large MPV is generally 6-8 people.
Application Overview:
By application, the Private segment occupied the biggest share from 2017 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Multi-Purpose Vehicle (MPV) industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Multi-Purpose Vehicle (MPV). The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Multi-Purpose Vehicle (MPV) Market Report Include:
Market Size Estimates: Multi-Purpose Vehicle (MPV) market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Multi-Purpose Vehicle (MPV) market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Multi-Purpose Vehicle (MPV) market
Segment Market Analysis: Multi-Purpose Vehicle (MPV) market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Multi-Purpose Vehicle (MPV) market situations and prospects in major and top regions and countries
Multi-Purpose Vehicle (MPV) Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.Multi-Purpose Vehicle (MPV) Industry Chain: Multi-Purpose Vehicle (MPV) market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Multi-Purpose Vehicle (MPV) Industry News, Policies by regions
Multi-Purpose Vehicle (MPV) Industry Porters Five Forces Analysis
Key players in the global Multi-Purpose Vehicle (MPV) market are covered in Chapter 2:
DongFeng
Geely
Hyundai
Toyota
SAIC
GM
BMW
FORD
SGMW
Stellantis NV
GAC Group
Nissan
Mercedes-Benz
Volkswagen
Honda
In Chapter 6 and Chapter 9, on the basis of types, the Multi-Purpose Vehicle (MPV) market from 2018 to 2028 is primarily split into:
Compact MPV
Mini MPV
Large MPV
In Chapter 7 and Chapter 10, on the basis of applications, the Multi-Purpose Vehicle (MPV) market from 2018 to 2028 covers:
Private
Enterprise
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Multi-Purpose Vehicle (MPV) market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Multi-Purpose Vehicle (MPV) industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Multi-Purpose Vehicle (MPV) market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Multi-Purpose Vehicle (MPV) industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Multi-Purpose Vehicle (MPV) market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Multi-Purpose Vehicle (MPV) market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Multi-Purpose Vehicle (MPV) market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
