The global market for Sports Utility Vehicles (SUVs) was sized at 66.7 Million Units in 2024 and is projected to reach 127.4 Million Units by 2030, growing at a CAGR of 11.4% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The increasing appeal of SUVs can be attributed to several factors that enhance both their urban and off-road driving capabilities. Modern SUVs often feature monocoque construction that affords sedan-like handling, high-speed stability, and improved fuel efficiency, making them more economical and environmentally friendly. The availability of affordable pricing across many models has opened up SUV ownership to a broader audience, elevating their aspirational value. Additionally, SUVs are equipped with advanced features like automatic gearboxes, turbocharged engines, and enhanced safety systems, which amplify their functionality and capacity, catering to larger families or groups seeking practical yet comfortable vehicles.
Sports Utility Vehicles (SUVs) have experienced a surge in global popularity, becoming a dominant choice in the automotive market due to their blend of style, functionality, and versatility. Designed to perform adeptly in both urban and rugged terrains, SUVs are characterized by their tall stature, spacious interiors, and higher seating positions, which enhance road visibility and ease of entry. The robust construction of these vehicles makes them suitable for challenging conditions, contributing to their reputation as durable and reliable options for various uses. Their capacious interiors also position them as ideal family vehicles, offering more passenger and cargo space compared to traditional sedans and hatchbacks, making them highly versatile for different lifestyle needs.
Global Sports Utility Vehicles (SUVs) Market - Key Trends and Drivers Summarized
Several market forces drive the demand for SUVs, including significant improvements in fuel efficiency and heightened safety features that align with the growing consumer focus on environmental consciousness and cost-effectiveness. The crossover SUV segment, in particular, has seen considerable growth by combining the comfort of a sedan with the practical advantages of an SUV, appealing to those who desire versatility without compromising on drivability. Technological advancements have further augmented the appeal of SUVs, integrating cutting-edge features such as advanced connectivity and infotainment systems that attract tech-savvy consumers. Moreover, changing lifestyle trends that favor outdoor activities boost the practicality of SUVs for transporting equipment and navigating varied terrains. The shift towards electric and hybrid models addresses environmental concerns, enhancing the SUV market's growth. Additionally, cultural influences and government policies that favor larger vehicles for their perceived safety and status, along with innovative financing options and effective marketing strategies, have significantly contributed to the robust growth and diversification of the SUV market, establishing them as a preferred choice for a wide range of consumers globally.The increasing appeal of SUVs can be attributed to several factors that enhance both their urban and off-road driving capabilities. Modern SUVs often feature monocoque construction that affords sedan-like handling, high-speed stability, and improved fuel efficiency, making them more economical and environmentally friendly. The availability of affordable pricing across many models has opened up SUV ownership to a broader audience, elevating their aspirational value. Additionally, SUVs are equipped with advanced features like automatic gearboxes, turbocharged engines, and enhanced safety systems, which amplify their functionality and capacity, catering to larger families or groups seeking practical yet comfortable vehicles.
Sports Utility Vehicles (SUVs) have experienced a surge in global popularity, becoming a dominant choice in the automotive market due to their blend of style, functionality, and versatility. Designed to perform adeptly in both urban and rugged terrains, SUVs are characterized by their tall stature, spacious interiors, and higher seating positions, which enhance road visibility and ease of entry. The robust construction of these vehicles makes them suitable for challenging conditions, contributing to their reputation as durable and reliable options for various uses. Their capacious interiors also position them as ideal family vehicles, offering more passenger and cargo space compared to traditional sedans and hatchbacks, making them highly versatile for different lifestyle needs.
Report Scope
The report analyzes the Sports Utility Vehicles (SUVs) market, presented in terms of market value (USD). The analysis covers the key segments and geographic regions outlined below.Segments
Fuel Type (Diesel, Petrol, Electric, Other Types).Geographic Regions/Countries
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Diesel SUVs segment, which is expected to reach 52.3 Million Units by 2030 with a CAGR of a 10.1%. The Petrol SUVs segment is also set to grow at 12% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at 17.2 Million Units in 2024, and China, forecasted to grow at an impressive 14.7% CAGR to reach 29.1 Million Units by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Sports Utility Vehicles (SUVs) Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Sports Utility Vehicles (SUVs) Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Sports Utility Vehicles (SUVs) Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of players such as Bayerische Motoren Werke AG (BMW GROUP), BYD Co., Ltd., Daimler AG, General Motors Company, Honda Motor Co., Ltd. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 273 companies featured in this Sports Utility Vehicles (SUVs) market report include:
- Bayerische Motoren Werke AG (BMW GROUP)
- BYD Co., Ltd.
- Daimler AG
- General Motors Company
- Honda Motor Co., Ltd.
- Hyundai Motor Company
- Mitsubishi Motors Corporation
- Toyota Motor Corporation
- Volkswagen AG
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
ARGENTINA
BRAZIL
MEXICO
REST OF LATIN AMERICA
MIDDLE EAST
IRAN
ISRAEL
SAUDI ARABIA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Bayerische Motoren Werke AG (BMW GROUP)
- BYD Co., Ltd.
- Daimler AG
- General Motors Company
- Honda Motor Co., Ltd.
- Hyundai Motor Company
- Mitsubishi Motors Corporation
- Toyota Motor Corporation
- Volkswagen AG
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 244 |
| Published | February 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value in 2024 | 66.7 Million Units |
| Forecasted Market Value by 2030 | 127.4 Million Units |
| Compound Annual Growth Rate | 11.4% |
| Regions Covered | Global |
