SUV Market Size - By SUV (Compact, Mid-size, Full-size), By Propulsion (Gasoline, Diesel, Electric), By Class (Class B, Class C, Class D, Class E), By Seating Capacity (5 Seater, More than 5 Seater) & Forecast, 2024

Description

SUV market size will register 6% CAGR between 2024 and 2032, driven by the shifting consumer preferences towards vehicles that provide a combination of spaciousness, versatility, and ruggedness. Lately, consumers are increasingly prioritizing vehicles that can accommodate their active lifestyles, carry passengers comfortably, and navigate various road conditions with ease. The insight of SUVs as safer vehicles owing to their larger size and higher driving position is contributing to their popularity among families and individuals seeking enhanced safety features in their vehicles.

Moreover, automakers are continuously striving to enhance the performance, fuel efficiency, and connectivity options of SUVs, attracting consumers with advanced infotainment systems, driver-assistance features, and fuel-efficient powertrains. The expansion of SUVs to include compact, mid-size, and full-size models for catering to diverse consumer preferences will further add to the market growth. For instance, in April 2024, Mahindra & Mahindra unveiled its compact SUV, the Mahindra XUV 3XO featuring upgradations in design, features, and safety.

The SUV industry is segmented into SUV, propulsion, class, seating capacity and region.

Based on propulsion, the market share from the electric segment will record notable CAGR from 2024-2032. Increasing environmental consciousness and government initiatives promoting electric vehicle adoption are outlining the demand for eco-friendly transportation solutions. Electric SUVs offer zero-emission driving without compromising on the spaciousness, versatility, and performance characteristics that consumers expect from traditional SUVs. Rising advancements in battery technology have further extended the driving range and reduced charging times while addressing concerns related to range anxiety and infrastructure limitations.

With respect to seating capacity, the SUV market from the 5 seater segment is anticipated to witness decent growth throughout 2032, due to their versatility, practicality, and higher appeal to a wide range of consumers. As urbanization continues to increase and lifestyles become more dynamic, consumers are prioritizing vehicles that offer ample passenger seating and cargo space while remaining maneuverable in urban environments. 5-seater SUVs are also suitable for families, commuters, and outdoor enthusiasts.

North America SUV industry size is slated to generate notable revenue during 2024-2032, attributed to the favorable economic conditions, including low-interest rates and robust consumer confidence. SUVs are favored for their perceived value and utility across the region. Continuous innovation in design, technology, and features by automakers to meet the evolving needs and preferences of North American consumers will contribute to the sustained market growth in the region.

Product Code: 8694

Chapter 1 Methodology & Scope

1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
1.5 Market definitions

Chapter 2 Executive Summary

2.1 Industry 360 degree synopsis, 2018-2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Raw material supplier
- 3.2.2 Component supplier
- 3.2.3 Technology supplier
- 3.2.4 Manufacturer
- 3.2.5 Distributors and dealers
- 3.2.6 End users
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Increasing popularity of automated driving cars
  - 3.8.1.2 Rising sale of passenger cars around the globe
  - 3.8.1.3. The proliferation of automotive V2 X technology
  - 3.8.1.4 Rising demand for advanced safety features in passenger cars
- 3.8.2 Industry pitfalls & challenges
  - 3.8.2.1 Fuel efficiency concerns
  - 3.8.2.2 Stringent emissions regulations and government policies
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By SUV, 2018-2032 ($Bn, Units)

5.1 Key trends
5.2 Compact SUV
- 5.2.1 Gasoline
- 5.2.2 Diesel
- 5.2.3 Electric
5.3 Mid-size SUV
- 5.3.1 Gasoline
- 5.3.2 Diesel
- 5.3.3 Electric
5.4 Full-size SUV
- 5.4.1 Gasoline
- 5.4.2 Diesel
- 5.4.3 Electric

Chapter 6 Market Estimates & Forecast, By Propulsion, 2018-2032 ($Bn, Units)

6.1 Key trends
6.2 Gasoline
6.3 Diesel
6.4 Electric

Chapter 7 Market Estimates & Forecast, By Class, 2018-2032 ($Bn, Units)

7.1 Key trends
7.2 Class B
7.3 Class C
7.4 Class D
7.5 Class E

Chapter 8 Market Estimates & Forecast, By Seating Capacity, 2018-2032 ($Bn, Units)

8.1 Key trends
8.2 5 Seater
8.3 More than 5 seater

Chapter 9 Market Estimates & Forecast, By Region, 2018-2032 ($Bn, Units)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Nordics
- 9.3.7 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 Australia
- 9.4.6 Southeast Asia
- 9.4.7 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.5.4 Rest of Latin America
9.6 MEA
- 9.6.1 South Africa
- 9.6.2 UAE
- 9.6.3 Saudi Arabia
- 9.6.4 Rest of MEA

Chapter 10 Company Profiles

10.1 Audi AG
10.2 BMW Group
10.3 Ford Motor Company
10.4 General Motors
10.5 Honda Motor Co Ltd
10.6 Hyundai Motor Company
10.7 KIA
10.8 Mahindra & Mahindra Limited
10.9 Mazda Motor Corporation
10.10 Mercedes-Benz
10.11 Mitsubishi Motors
10.12 Nissan Motors
10.13 Renault Group
10.14 Stellantis NV
10.15 Subaru
10.16 Suzuki Motor Corporation
10.17 Tata Motors
10.18 Tesla, Inc
10.19 Toyota Motor Corporation
10.20 Volkswagen AG

SUV Market Size - By SUV (Compact, Mid-size, Full-size), By Propulsion (Gasoline, Diesel, Electric), By Class (Class B, Class C, Class D, Class E), By Seating Capacity (5 Seater, More than 5 Seater) & Forecast, 2024 - 2032