Global Sports Utility Vehicle Market is valued approximately USD 31.9 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 10% over the forecast period 2023-2030. Sports Utility Vehicle is a type of vehicle that is designed to provide more space and comfort and they are larger than cars and have higher ground clearance. The Sports Utility Vehicle market is expanding because of factors such as rising demand of passenger cars and increase demand of luxury cars. However, Passenger cars are generally more fuel-efficient and are easier to handle in close spaces. Its importance has progressively increased during the last few decades.
According to the Statista, Passenger automobile sales are expected to total 73.98 million units by 2027, With approximately 23.56 million units sold in 2022, China remained the world's largest market for passenger automobile sales. Luxury sports utility is increasingly used owing to its benefits such as large cargo capacity, greater visibility due to large windows, and increased fuel efficiency. According to the Statista, the global market for luxury vehicles in 2022 was over USD 566 billion, an increase of almost 9% from the previous year. In addition, rising demand of safety features in automobiles and rising technological advancement in Sports Utility Vehicles would create lucrative growth opportunity. However, shifting preference toward electric vehicles and rising cost of fuel stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Sports Utility Vehicle Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominates the market during the forecast period owing to, increasing demand for premium cars with augmented comfort feature in this region. Asia-Pacific is fastest growing region during the forecast period owing to the factors such as, high investments in research and development activities and growing demand for automobiles and a rising focus on high comfort and safety in the region.
Major market player included in this report are:
- Ford Motor Company (U.S.)
- Kia Motors Corporation (South Korea)
- Groupe Renault (France)
- Groupe PSA (France)
- Tesla (U.S.)
- Hyundai Motor Company (South Korea)
- Continental AG (Germany)
- TOYOTA MOTOR CORPORATION (Japan)
- Nissan Motor Co., LTD. (Japan)
- Honda Motor Co., Ltd. (Japan)
Recent Developments in the Market:
- In 2022, Toyota Motor Corporation and Suzuki Motor Corporation have collaborated together to manufacture hybrid SUVs. The partnership affects Suzuki's capacity for small cars and Toyota's experience in electrification for increased EV adoption and joint EV production, will eventually contribute to market expansion.
- In 2022, Honda Motor Co., Ltd. launched brand-new SUV ZR-V. The new ZR-V features a design that makes it suitable for urban settings. The 2.0-liter direct injection engine and the cutting-edge 2-motor hybrid system (e-CVT) that make up the Sports e: HEV are combined in this hybrid model, making it the first Honda sport utility vehicle to be equipped with them.
- In 2022, The Ioniq 5 EV's introduction was announced by Hyundai Motor. The model will be available with battery sizes of 72.6kWh and 58kWh, with 480 km and 385 km of driving range, respectively. Furthermore, both battery models will be available in 2WD and 4WD versions.
Global Sports Utility Vehicle Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Type, Fuel Type, Seating Capacity, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
By Fuel Type:
- Diesel
- Petrol
- Electric
- Others
By Seating Capacity:
- 5-seater
- 7-seater
- 8 and above seater
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Sports Utility Vehicle Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Sports Utility Vehicle Market, by Type, 2020-2030 (USD Billion)
- 1.2.3. Sports Utility Vehicle Market, by Fuel Type, 2020-2030 (USD Billion)
- 1.2.4. Sports Utility Vehicle Market, by Seating Capacity, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Sports Utility Vehicle Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Sports Utility Vehicle Market Dynamics
- 3.1. Sports Utility Vehicle Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Rising demand of passenger cars
- 3.1.1.2. Increase demand of luxury cars
- 3.1.2. Market Challenges
- 3.1.2.1. Shifting preference toward electric vehicles
- 3.1.2.2. Rising cost of fuel
- 3.1.3. Market Opportunities
- 3.1.3.1. Rising demand of safety features in automobiles
- 3.1.3.2. Rising technological advancement in Sports Utility Vehicles
Chapter 4. Global Sports Utility Vehicle Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Sports Utility Vehicle Market, by Type
- 5.1. Market Snapshot
- 5.2. Global Sports Utility Vehicle Market by Type, Performance - Potential Analysis
- 5.3. Global Sports Utility Vehicle Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
- 5.4. Sports Utility Vehicle Market, Sub Segment Analysis
- 5.4.1. SUV-C
- 5.4.2. SUV-D
- 5.4.3. SUV-E
- 5.4.4. SUV-F
Chapter 6. Global Sports Utility Vehicle Market, by Fuel Type
- 6.1. Market Snapshot
- 6.2. Global Sports Utility Vehicle Market by Fuel Type, Performance - Potential Analysis
- 6.3. Global Sports Utility Vehicle Market Estimates & Forecasts by Fuel Type 2020-2030 (USD Billion)
- 6.4. Sports Utility Vehicle Market, Sub Segment Analysis
- 6.4.1. Diesel
- 6.4.2. Petrol
- 6.4.3. Electric
- 6.4.4. Others
Chapter 7. Global Sports Utility Vehicle Market, by Seating Capacity
- 7.1. Market Snapshot
- 7.2. Global Sports Utility Vehicle Market by Seating Capacity, Performance - Potential Analysis
- 7.3. Global Sports Utility Vehicle Market Estimates & Forecasts by Seating Capacity 2020-2030 (USD Billion)
- 7.4. Sports Utility Vehicle Market, Sub Segment Analysis
- 7.4.1. 5-seater
- 7.4.2. 7-seater
- 7.4.3. 8 and above seater
Chapter 8. Global Sports Utility Vehicle Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Sports Utility Vehicle Market, Regional Market Snapshot
- 8.4. North America Sports Utility Vehicle Market
- 8.4.1. U.S. Sports Utility Vehicle Market
- 8.4.1.1. Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. Fuel Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. Seating Capacity breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Sports Utility Vehicle Market
- 8.5. Europe Sports Utility Vehicle Market Snapshot
- 8.5.1. U.K. Sports Utility Vehicle Market
- 8.5.2. Germany Sports Utility Vehicle Market
- 8.5.3. France Sports Utility Vehicle Market
- 8.5.4. Spain Sports Utility Vehicle Market
- 8.5.5. Italy Sports Utility Vehicle Market
- 8.5.6. Rest of Europe Sports Utility Vehicle Market
- 8.6. Asia-Pacific Sports Utility Vehicle Market Snapshot
- 8.6.1. China Sports Utility Vehicle Market
- 8.6.2. India Sports Utility Vehicle Market
- 8.6.3. Japan Sports Utility Vehicle Market
- 8.6.4. Australia Sports Utility Vehicle Market
- 8.6.5. South Korea Sports Utility Vehicle Market
- 8.6.6. Rest of Asia Pacific Sports Utility Vehicle Market
- 8.7. Latin America Sports Utility Vehicle Market Snapshot
- 8.7.1. Brazil Sports Utility Vehicle Market
- 8.7.2. Mexico Sports Utility Vehicle Market
- 8.8. Middle East & Africa Sports Utility Vehicle Market
- 8.8.1. Saudi Arabia Sports Utility Vehicle Market
- 8.8.2. South Africa Sports Utility Vehicle Market
- 8.8.3. Rest of Middle East & Africa Sports Utility Vehicle Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Ford Motor Company (U.S.)
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. Kia Motors Corporation (South Korea)
- 9.3.3. Groupe Renault (France)
- 9.3.4. Groupe PSA (France)
- 9.3.5. Tesla (U.S.)
- 9.3.6. Hyundai Motor Company (South Korea)
- 9.3.7. Continental AG (Germany)
- 9.3.8. TOYOTA MOTOR CORPORATION (Japan)
- 9.3.9. Nissan Motor Co., LTD. (Japan)
- 9.3.10. Honda Motor Co., Ltd. (Japan)
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption