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SUV Market Share

Report ID: GMI8694
Published Date: Mar 2024
Report Format: PDF

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SUV Market Share

Ford Motor Company, Nissan Motors and Toyota Motor Corporation hold a significant market share of over 14% in the SUVs industry. The dominance of these companies in the SUV industry can be attributed to factors such as brand reputation, product quality, innovation, marketing strategies, and distribution networks. Additionally, their success may stem from a combination of factors including consumer trust, reliability, and the ability to adapt to changing market trends and consumer demands.

These are recognized for their diverse lineup of SUV models, ranging from compact crossovers to full-size SUVs, catering to various consumer preferences and market segments. Their strong market share signifies their ability to capture a significant portion of SUV sales and compete effectively in a highly competitive automotive market.

SUV Market Companies

Major companies operating in the SUV industry are:

BMW Group
Ford Motor Company
General Motors
Honda Motor Co Ltd
KIA
Mitsubishi Motors
Nissan Motors
Tesla, Inc
Toyota Motor Corporation
Volkswagen AG

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of SUV reached USD 869.6 billion in 2023 and is set to witness 6% CAGR between 2024 and 2032, attributed to the shifting consumer preferences and lifestyle changes.

The gasoline segment held a major market share of around 43% in 2023, owing to the established infrastructure.

Asia Pacific market accounted for major share of over 47% in 2023, due to rapid urbanization and rising disposable incomes.

BMW Group, Ford Motor Company, General Motors, Honda Motor Co Ltd, KIA, Mitsubishi Motors, Nissan Motors, Tesla, Inc, Toyota Motor Corporation and Volkswagen AG.