1. Home
  2. > Automotive
  3. > Motor Vehicle
  4. > Light Vehicle Market Trends
SUV Market by Type, Propulsion, Class, Seating Capacity, EV Type, Sales & Region - Global Forecast to 2027

SUV Market by Type, Propulsion, Class, Seating Capacity, EV Type, Sales & Region - Global Forecast to 2027

  • October 2022
  • 250 pages
  • ID: 3681934
  • Format: PDF
  • MarketsandMarkets

Summary

Table of Contents

Search Inside

The SUV market is projected to grow from USD 885.8 billion in 2022 to USD 1,221.7 billion in 2027, at a CAGR of 6.6%. The SUVs are well known for using high-end materials and have a sporty look. The off-road capabilities of SUVs are driving their demand in US and European countries. The growing demand for premium cars with increased comfort features would create potential demand for luxury SUVs in the coming years. Similarly, the increasing trend of electrification worldwide would create demand for electric SUVs and components such as batteries and motors.

Strong demand for SUVs is noticed in countries such as China, India, and Japan, where the demand for entry-level and mid-sized SUVs is growing in India and China. The key reasons for this growth are – multiple SUV launches with advanced features by almost all OEMs, competitive pricing of compact SUVs as compared with sedans, and other benefits offered by SUVs such as high ground clearance, robustness, and maneuverability.

"5-seater segment would lead the SUV market."
All the mini, compact, and some mid-size SUVs are offered with 2-row seats and five-passenger seating capability.The demand for mini, compact and mid-size SUVs in the Asia Pacific and European are expected to drive this segment.

Rising per capita income, growing prosperity, and urbanization in Asian countries influence young buyers to choose stylishly and feature-rich cars, which ultimately would drive the 5-seater SUV market in the Asia Pacific.Further, premium mid-size SUVs have noticed substantial demand in European countries as these cars with 5-seater configurations offer large seating space and larger boot space.

Due to this, many European OEMs such as Volkswagen, BMW, Mercedes-Benz, Skoda, and Audi provide a broad portfolio of mid-size SUVs to gain a competitive edge in the regional market. These factors together fuel the 5-seater SUV market in these regions.

"Class D SUV segment holds the largest market share in SUV market."
The class D SUVs accounted for the largest market share in the global SUV market, owing to the rising adoption of class D SUVs in developing countries such as India, China, and Thailand.Further, class-D SUVs are mostly mid-size and full-size SUVs with two or three rows of seating options and ample boot space.

These vehicles are equipped with powerful engines with 4-wheel or all-wheel drive options, providing better tractability.Plus, SUVs under this class are available in mid to premium price range, which allows OEMs to include descent features to improve in-vehicle feel and comfort.

OEMs such as Volkswagen, Lexus, Mercedes-Benz, BMW, Cadillac, Land Rover, and Buick deliver a broad array of SUVs in the global market. Hence, the demand for the class D segment will continue to grow.

Americas is estimated to be the second largest SUV market
Americas accounted to be the second largest market for SUVs.The region has a higher demand for passenger vehicles, particularly for premium SUVs (D segment and above), due to strong buying power with higher adoption of advanced vehicles.

These premium SUVs are installed with advanced safety and comfort features.In 2021, the production of luxury SUVs in the US out of total luxury cars stood at around 75%.

The factors attributing to the growth of premium SUVs in the region are consumer requirement for powerful engine performance, higher driving position, multiple driving modes (sports, adventure, mud, snow, etc.), off-roading capabilities with 4x4 drive, larger & comfortable seats, better cargo and towing capacity among others. With increasing premium SUV sales, the region’s demand for premium mid-size and full-size SUVs are expected to grow.

The automotive industry of the Americas is home to the big three, Ford Motor Company, General Motors, and Fiat Chrysler Automobiles (FCA), which have favored and experienced significant demand for premium mid-size and full-size SUVs.The US is the largest market in the region and accounts for more than two-thirds of the overall market, followed by Mexico and Canada.

The big three hold the market strongly, along with established European and Asian OEMs such as Toyota, Nissan, Honda, Hyundai/Kia, BMW Group, and Volkswagen Group.Almost every OEM offers gasoline SUVs as a standard feature and diesel engines as an option.

This allows consumers to choose which variants they want to go ahead with, while OEMs choose best practices to achieve the target of lower emissions at the regional level.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and strategy directors, and executives from various key organizations operating in this market.
• By Company Type: OEMs – 90%, and Tier 1 – 10%
• By Designation: C Level Executives - 10%, Directors - 70%, and Others – 20%
• By Region: Asia Pacific - 50%,Europe – 10%, North America – 30%, RoW- 10%
Toyota Motor Corporation (Japan), Hyundai Motor Company (South Korea), Honda Motor (Japan), General Motors (US), Ford Motor Company (US), and Stellantis (Netherland) are the leading providers of SUVs in the global market.

Research Coverage:
The SUV market is segmented based on Type (ICE) (mini, compact, mid-size, full-size, and MPV/MUV), seating capacity (5-seater, and >5-seater), propulsion (diesel, gasoline, and electric), class (B class, C class, D class, and E class) electric & hybrid SUV by EV type (BEV, PHEV, and FCEV), and region (Asia Pacific, Europe, and Americas).

The study also includes an in-depth competitive analysis of the major SUV manufacturers in the market, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report will help the market leaders in this market with the information on the closest approximations of the revenue numbers for the overall SUV market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.

The report also helps stakeholders understand the market’s pulse and provides information on key market drivers, restraints, challenges, and opportunities. This report would also helps OEMs and Tier 1 suppliers to understand current and future market for different SUV types across all prominent countries of considered region. It will also provide future market outlook for electric and hybrid versions of SUVs which is expected to bring key future growth prospects at global level

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

SUV Cars Markets in China

  • $ 4000
  • October 2022
  • 203 pages

China’s demand for SUV Cars has grown at a fast pace in the past decade. In the next decade, both production and demand will continue to grow. The Chinese economy maintains a high speed growth which ...

  • China
  • Light Vehicle
  • Industry analysis
  • Industrial Production
  • Labour Force

Convertible Car Markets in China $ 4000 October 2022


ref:plp2022

Reportlinker.com © Copyright 2023. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on