Mention the major players involved in the SUV market?

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

What is the size of Asia Pacific SUV industry?

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

Why is the demand of gasoline-fuelled SUVs growing?

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

How big is SUV market?

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.

SUV Market Trends

Report ID: GMI8694

Published Date: March 2024

Report Format: PDF

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SUV Market Trends

Expansion of hybrid and plug-in hybrid SUV offerings could emerge as a key factor strengthening the SUV industry. Hybrid and plug-in hybrid SUVs are gaining popularity as a transitional solution for consumers who want improved fuel efficiency without fully committing to electric vehicles. Automakers are expanding their hybrid and plug-in hybrid SUV lineups, offering models with increased electric range, enhanced performance, and advanced features. These vehicles provide the versatility and utility of traditional SUVs while reducing fuel consumption and emissions, appealing to a broad range of consumers looking for greener transportation options.

For instance, in March 2024, Audi AG unveiled its highly anticipated all-electric vehicle, the Q6 e-tron, at its headquarters in Ingolstadt, Germany. Representing a significant milestone, the Q6 e-tron is the inaugural model from the VW Group to utilize the modular premium platform electric (PPE) platform, marking a substantial leap forward in technological innovation for its electric vehicle lineup.

Authors: Preeti Wadhwani,

Frequently Asked Question(FAQ) :

Mention the major players involved in the SUV market?: BMW Group, Ford Motor Company, General Motors, Honda Motor Co Ltd, KIA, Mitsubishi Motors, Nissan Motors, Tesla, Inc, Toyota Motor Corporation and Volkswagen AG.
What is the size of Asia Pacific SUV industry?: Asia Pacific market accounted for major share of over 47% in 2023, due to rapid urbanization and rising disposable incomes.
Why is the demand of gasoline-fuelled SUVs growing?: The gasoline segment held a major market share of around 43% in 2023, owing to the established infrastructure.
How big is SUV market?: 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.

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Authors: Preeti Wadhwani,

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Premium Report Details

Base Year: 2023

Companies covered: 20

Tables & Figures: 600

Countries covered: 24

Pages: 280

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SUV Market Trends

SUV Market Trends

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