The SUV market is expected to grow from USD 1,180.30 billion in 2025 to USD 1,673.57 billion in 2032, registering a CAGR of 5.1%.
In the US and Europe, SUV demand is increasingly driven by advanced chassis architectures, where OEMs are integrating adaptive air suspensions, active roll control, and terrain-calibrated torque management systems to enhance both on-road dynamics and off-road articulation. Premium SUV growth is supported by the shift to zonal E/E architectures, enabling real-time damping control, predictive ADAS functions, and improved NVH isolation through active noise cancellation. Electrification is accelerating due to consumer demand for high-performance e-SUVs, pushing OEMs toward 800V platforms, high-density NMC battery packs, and multi-motor e-axles that deliver higher towing capacity and thermal robustness, critical performance differentiators in the Western market.
In China, India, and Japan, the momentum for compact and mid-size SUVs is being shaped by modular skateboard and multi-energy platforms that enable OEMs to package hybrid, turbo-petrol, and BEV powertrains without requiring redesign of the vehicle architecture. The shift toward 1.0–1.5L turbocharged GDI engines, strong-hybrid systems with e-CVTs, and localized battery modules has made SUVs more efficient and cost-competitive than sedans. Chinese and Indian manufacturers are also deploying lightweight multilink rear suspensions, high-strength steel cages, and compact e-drive units to improve handling and crash safety while maintaining aggressive pricing.
“The 5-seater segment is expected to hold a larger market share during the forecast period.”
Mini, compact, and select mid-size SUVs in Asia Pacific and Europe continue to gain traction due to their optimized 2-row configurations, which balance urban maneuverability with enhanced cabin ergonomics. In Asia Pacific, increased disposable income and rapid urban expansion are pushing young buyers toward SUVs that integrate advanced infotainment domains, ADAS Level 1–2 features, and high-efficiency turbo-hybrid powertrains, delivering premium functionality without the pricing burden of larger segments. Automakers are also leveraging localized modular platforms (e.g., CMP, TNGA-B, BMA) to engineer roomier 5-seater layouts and maximize interior volume despite compact exterior footprints, directly appealing to dense-city use cases.
In Europe, the surge in premium 5-seater mid-size SUVs is driven by the demand for vehicles that combine long-distance comfort, upgraded multilink rear suspensions, and enhanced cargo capacity while remaining compliant with stringent EU emissions and safety norms. European OEMs, such as Volkswagen, BMW, Mercedes-Benz, Škoda, and Audi, are expanding their portfolios with models featuring 48V mild-hybrid integration, advanced chassis domain control units, and high-strength, lightweight structures to improve both efficiency and dynamic capability. These engineering advancements, combined with consumer preferences for spacious yet city-suitable vehicles, are reinforcing the growth of the 5-seater SUV segment.
“Class D is expected to be the largest segment during the forecast period.”
Class D continues to dominate global SUV demand, as India, China, and Thailand shift toward larger, multi-row vehicles built on scalable architectures like MQB, TNGA-K, SPA, and CLAR, which enable higher wheelbases and improved cabin packaging. These models increasingly feature electrified AWD (e-axles), 2.0–3.0L turbocharged powertrains, and multilink rear suspensions, providing superior tractability and high-speed stability compared to smaller classes. Rising consumer preference for 3-row flexibility, higher towing capacity, and long-distance ride comfort continues to make Class-D SUVs attractive in both ICE and hybrid categories. Premium OEMs, including BMW, Mercedes-Benz, Lexus, Land Rover, and Cadillac, are upgrading this segment with 48V systems, advanced ADAS L2+/L3 preparation, and lightweight aluminum subframes, further driving market growth. As emerging markets upscale and infrastructure improves, Class-D SUVs are becoming the default choice for families seeking larger footprint vehicles with premium mechanical and software capabilities.
The Americas is expected to be the second-largest market during the forecast period.”
The Americas remain the second-largest SUV market, driven by strong demand for premium D- and E-segment SUVs equipped with high-output turbo/V6 engines, electrified AWD systems, and advanced ADAS L2+ suites. In the US, luxury OEMs now generate 70–80% of their premium volumes from SUVs, supported by consumer preference for high ground clearance, tow ratings above 3,500–5,000 lbs, multi-terrain drive modes, and long-wheelbase comfort. The shift toward hybrid and extended-range SUV architectures is accelerating as CAFE and EPA standards tighten, pushing Ford, GM, and Stellantis to expand battery-electric body-on-frame platforms. Full-size and three-row SUVs remain dominant due to their superior cabin space and payload/towing capability, making them the preferred choice across the US and Canada. Mexico contributes to strong growth in compact and mid-size SUVs, driven by cost-sensitive buyers and the expansion of local manufacturing by Asian OEMs. The competitive landscape is intensifying as Tesla, Hyundai–Kia, BMW, and Toyota scale up regional production of electric and hybrid SUVs, reshaping the powertrain mix and supply chain localization.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
• By Company Type: Automotive OEMs – 90%, Tier 1 – 10%
• By Designation: C-level – 35%, Director Level – 55%, Others – 10%
• By Region: North America – 20%, Europe – 45%, Asia Pacific – 30%, Rest of the World – 5%
The SUV market is dominated by established players, such as Toyota Motor Corporation (Japan), Hyundai Motor Company (South Korea), Honda Motor Co., Ltd. (Japan), General Motors (US), Ford Motor Company (US), and Stellantis (Netherlands).
Research Coverage:
The study segments the SUV market and forecasts the market size based on type (mini, compact, mid-size, full-size, MPV/MUV), seating capacity (5-seater, >5-seater), propulsion (diesel, gasoline, electric), class (B, C, D, E), electric & hybrid vehicle type (BEV, PHEV, FCEV), and region (Asia Pacific, Europe, Americas).
Key Benefits of Purchasing this Report
The study provides a comprehensive competitive analysis of key market players, including their company profiles, key insights into product and business offerings, recent developments, and primary market strategies. The report will assist market leaders and new entrants with estimates of revenue figures for the overall SUV market and its subsegments. It helps stakeholders understand the competitive landscape and gain additional insights to better position their businesses and develop effective go-to-market strategies. Additionally, the report provides information on key market drivers, restraints, challenges, and opportunities, enabling stakeholders to stay informed about market dynamics.
The report provides insights into the following points:
• Analysis of key drivers (demand for premium vehicles with advanced features and consumer inclination toward compact and mid-size SUVs), restraints (high cost of SUVs), opportunities (trend of electrification), and challenges (Adherence to fuel economy and emission limits and range limitations of electric SUVs) influencing the growth of the SUV market
• Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the SUV market
• Market Development: Comprehensive information about lucrative markets; the report analyzes the SUV across various regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the SUV market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Toyota Motor Corporation (Japan), Hyundai Motor Company (South Korea), Honda Motor (Japan), General Motors (US), Ford Motor Company (US), and Stellantis (Netherlands)
圖表清單 List of Tables & Figures
TABLE 1 USD EXCHANGE RATES, BY COUNTRY, 2019–2024 30
TABLE 2 PROMINENT COMPACT SUV MODELS, 2025 44
TABLE 3 FULL-SIZE SUV PRICES, 2025 45
TABLE 4 TOP ELECTRIC SUV MODEL SALES AND PRICES, 2024 46
TABLE 5 LAUNCHED AND UPCOMING ELECTRIC SUV MODELS, 2023–2025 46
TABLE 6 STRATEGIC MOVES BY TIER-1/2/3 SUPPLIERS 49
TABLE 7 AUTONOMOUS SUVS AND THEIR FEATURES 50
TABLE 8 HEAD-UP DISPLAYS IN SUVS 53
TABLE 9 PATENT ANALYSIS 57
TABLE 10 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF SUVS (%) 65
TABLE 11 KEY BUYING CRITERIA FOR SUVS 66
TABLE 12 UNMET NEEDS FROM END-USE INDUSTRIES 68
TABLE 13 AMERICAS: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 70
TABLE 14 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 71
TABLE 15 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 72
TABLE 16 ELECTRIC SUV-SPECIFIC STANDARDS 73
TABLE 17 STRUCTURAL AND MECHANICAL ENGINEERING STANDARDS 73
TABLE 18 EMISSIONS, FUEL EFFICIENCY, AND POWERTRAIN STANDARDS 73
TABLE 19 SAFETY AND REGULATORY STANDARDS 74
TABLE 20 GDP PERCENTAGE CHANGE, BY COUNTRY, 2021–2030 75
TABLE 21 ROLE OF COMPANIES IN ECOSYSTEM 79
TABLE 22 AVERAGE SELLING PRICE OF SUVS OFFERED BY KEY PLAYERS, 2024 (USD/UNIT) 81
TABLE 23 AVERAGE SELLING PRICE OF ICE SUVS, BY REGION, 2024 (USD/UNIT) 82
TABLE 24 AVERAGE SELLING PRICE OF ELECTRIC SUVS, BY REGION, 2024 (USD/UNIT) 82
TABLE 25 KEY CONFERENCES AND EVENTS, 2025–2026 85
TABLE 26 IMPORT DATA FOR HS CODE 870380-COMPLIANT PRODUCTS,
BY COUNTRY, 2020–2024 (USD BILLION) 86
TABLE 27 EXPORT DATA FOR HS CODE 870380-COMPLIANT PRODUCTS,
BY COUNTRY, 2020–2024 (USD BILLION) 87
TABLE 28 EXISTING AND UPCOMING SUV MODELS, 2024–2026 89
TABLE 29 ANNUAL GAS COST VS. ANNUAL ELECTRIC COST, 2024 90
TABLE 30 SUV MANUFACTURING PLANTS BY OEM AND LOCATION 107
TABLE 31 SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 112
TABLE 32 SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 113
TABLE 33 SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 113
TABLE 34 SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 113
TABLE 35 MINI SUV MARKET, BY REGION, 2021–2024 (USD BILLION) 114
TABLE 36 MINI SUV MARKET, BY REGION, 2025–2032 (USD BILLION) 114
TABLE 37 MINI SUV MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 114
TABLE 38 MINI SUV MARKET, BY REGION, 2025–2032 (THOUSAND UNITS) 115
TABLE 39 COMPACT SUV MARKET, BY REGION, 2021–2024 (USD BILLION) 116
TABLE 40 COMPACT SUV MARKET, BY REGION, 2025–2032 (USD BILLION) 116
TABLE 41 COMPACT SUV MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 116
TABLE 42 COMPACT SUV MARKET, BY REGION, 2025–2032 (THOUSAND UNITS) 116
TABLE 43 MID-SIZE SUV MARKET, BY REGION, 2021–2024 (USD BILLION) 117
TABLE 44 MID-SIZE SUV MARKET, BY REGION, 2025–2032 (USD BILLION) 117
TABLE 45 MID-SIZE SUV MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 117
TABLE 46 MID-SIZE SUV MARKET, BY REGION, 2025–2032 (THOUSAND UNITS) 118
TABLE 47 FULL-SIZE SUV MARKET, BY REGION, 2021–2024 (USD BILLION) 118
TABLE 48 FULL-SIZE SUV MARKET, BY REGION, 2025–2032 (USD BILLION) 119
TABLE 49 FULL-SIZE SUV MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 119
TABLE 50 FULL-SIZE SUV MARKET, BY REGION, 2025–2032 (THOUSAND UNITS) 119
TABLE 51 MPV/MUV MARKET, BY REGION, 2021–2024 (USD BILLION) 120
TABLE 52 MPV/MUV MARKET, BY REGION, 2025–2032 (USD BILLION) 120
TABLE 53 MPV/MUV MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 120
TABLE 54 MPV/MUV MARKET, BY REGION, 2025–2032 (THOUSAND UNITS) 121
TABLE 55 SUV MARKET, BY CLASS, 2021–2024 (USD BILLION) 123
TABLE 56 SUV MARKET, BY CLASS, 2025–2032 (USD BILLION) 124
TABLE 57 SUV MARKET, BY CLASS, 2021–2024 (THOUSAND UNITS) 124
TABLE 58 SUV MARKET, BY CLASS, 2025–2032 (THOUSAND UNITS) 124
TABLE 59 CLASS B SUV MARKET, BY REGION, 2021–2024 (USD BILLION) 125
TABLE 60 CLASS B SUV MARKET, BY REGION, 2025–2032 (USD BILLION) 125
TABLE 61 CLASS B SUV MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 125
TABLE 62 CLASS B SUV MARKET, BY REGION, 2025–2032 (THOUSAND UNITS) 126
TABLE 63 CLASS C SUV MARKET, BY REGION, 2021–2024 (USD BILLION) 126
TABLE 64 CLASS C SUV MARKET, BY REGION, 2025–2032 (USD BILLION) 127
TABLE 65 CLASS C SUV MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 127
TABLE 66 CLASS C SUV MARKET, BY REGION, 2025–2032 (THOUSAND UNITS) 127
TABLE 67 CLASS D SUV MARKET, BY REGION, 2021–2024 (USD BILLION) 128
TABLE 68 CLASS D SUV MARKET, BY REGION, 2025–2032 (USD BILLION) 128
TABLE 69 CLASS D SUV MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 128
TABLE 70 CLASS D SUV MARKET, BY REGION, 2025–2032 (THOUSAND UNITS) 129
TABLE 71 CLASS E SUV MARKET, BY REGION, 2021–2024 (USD BILLION) 129
TABLE 72 CLASS E SUV MARKET, BY REGION, 2025–2032 (USD BILLION) 129
TABLE 73 CLASS E SUV MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 130
TABLE 74 CLASS E SUV MARKET, BY REGION, 2025–2032 (THOUSAND UNITS) 130
TABLE 75 SUV MARKET, BY SEATING CAPACITY, 2021–2024 (USD BILLION) 132
TABLE 76 SUV MARKET, BY SEATING CAPACITY, 2025–2032 (USD BILLION) 132
TABLE 77 SUV MARKET, BY SEATING CAPACITY, 2021–2024 (THOUSAND UNITS) 133
TABLE 78 SUV MARKET, BY SEATING CAPACITY, 2025–2032 (THOUSAND UNITS) 133
TABLE 79 5-SEATER SUV MARKET, BY REGION, 2021–2024 (USD BILLION) 133
TABLE 80 5-SEATER SUV MARKET, BY REGION, 2025–2032 (USD BILLION) 134
TABLE 81 5-SEATER SUV MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 134
TABLE 82 5-SEATER SUV MARKET, BY REGION, 2025–2032 (THOUSAND UNITS) 134
TABLE 83 >5-SEATER SUV MARKET, BY REGION, 2021–2024 (USD BILLION) 135
TABLE 84 >5-SEATER SUV MARKET, BY REGION, 2025–2032 (USD BILLION) 135
TABLE 85 >5-SEATER SUV MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 135
TABLE 86 >5-SEATER SUV MARKET, BY REGION, 2025–2032 (THOUSAND UNITS) 136
TABLE 87 SUV MARKET, BY PROPULSION, 2021–2024 (USD BILLION) 138
TABLE 88 SUV MARKET, BY PROPULSION, 2025–2032 (USD BILLION) 138
TABLE 89 SUV MARKET, BY PROPULSION, 2021–2024 (THOUSAND UNITS) 139
TABLE 90 SUV MARKET, BY PROPULSION, 2025–2032 (THOUSAND UNITS) 139
TABLE 91 GASOLINE SUV MARKET, BY REGION, 2021–2024 (USD BILLION) 140
TABLE 92 GASOLINE SUV MARKET, BY REGION, 2025–2032 (USD BILLION) 140
TABLE 93 GASOLINE SUV MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 140
TABLE 94 GASOLINE SUV MARKET, BY REGION, 2025–2032 (THOUSAND UNITS) 140
TABLE 95 DIESEL SUV MARKET, BY REGION, 2021–2024 (USD BILLION) 141
TABLE 96 DIESEL SUV MARKET, BY REGION, 2025–2032 (USD BILLION) 141
TABLE 97 DIESEL SUV MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 141
TABLE 98 DIESEL SUV MARKET, BY REGION, 2025–2032 (THOUSAND UNITS) 142
TABLE 99 ELECTRIC SUV MARKET, BY REGION, 2021–2024 (USD BILLION) 142
TABLE 100 ELECTRIC SUV MARKET, BY REGION, 2025–2032 (USD BILLION) 142
TABLE 101 ELECTRIC SUV MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 143
TABLE 102 ELECTRIC SUV MARKET, BY REGION, 2025–2032 (THOUSAND UNITS) 143
TABLE 103 ELECTRIC SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 145
TABLE 104 ELECTRIC SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 145
TABLE 105 ELECTRIC SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 146
TABLE 106 ELECTRIC SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 146
TABLE 107 BEV SUV MARKET, BY REGION, 2021–2024 (USD BILLION) 147
TABLE 108 BEV SUV MARKET, BY REGION, 2025–2032 (USD BILLION) 147
TABLE 109 BEV SUV MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 147
TABLE 110 BEV SUV MARKET, BY REGION, 2025–2032 (THOUSAND UNITS) 147
TABLE 111 PHEV SUV MARKET, BY REGION, 2021–2024 (USD BILLION) 148
TABLE 112 PHEV SUV MARKET, BY REGION, 2025–2032 (USD BILLION) 148
TABLE 113 PHEV SUV MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 149
TABLE 114 PHEV SUV MARKET, BY REGION, 2025–2032 (THOUSAND UNITS) 149
TABLE 115 FCEV SUV MARKET, BY REGION, 2021–2024 (USD BILLION) 150
TABLE 116 FCEV SUV MARKET, BY REGION, 2025–2032 (USD BILLION) 150
TABLE 117 FCEV SUV MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 150
TABLE 118 FCEV SUV MARKET, BY REGION, 2025–2032 (THOUSAND UNITS) 150
TABLE 119 GLOBAL SUV SALES, BY TYPE, 2023 VS. 2024 (THOUSAND UNITS) 152
TABLE 120 ASIA PACIFIC: COMPACT SUV SALES, BY COUNTRY,
2023 VS. 2024 (THOUSAND UNITS) 153
TABLE 121 EUROPE: COMPACT SUV SALES, BY COUNTRY, 2023 VS. 2024 (THOUSAND UNITS) 153
TABLE 122 AMERICAS: COMPACT SUV SALES, BY COUNTRY,
2023 VS. 2024 (THOUSAND UNITS) 153
TABLE 123 ASIA PACIFIC: MID-SIZE SUV SALES, BY COUNTRY,
2023 VS. 2024 (THOUSAND UNITS) 154
TABLE 124 EUROPE: MID-SIZE SUV SALES, BY COUNTRY, 2023 VS. 2024 (THOUSAND UNITS) 154
TABLE 125 AMERICAS: MID-SIZE SUV SALES, BY COUNTRY,
2023 VS. 2024 (THOUSAND UNITS) 155
TABLE 126 ASIA PACIFIC: FULL-SIZE SUV SALES, BY COUNTRY,
2023 VS. 2024 (THOUSAND UNITS) 155
TABLE 127 EUROPE: FULL-SIZE SUV SALES, BY COUNTRY, 2023 VS. 2024 (THOUSAND UNITS) 156
TABLE 128 AMERICAS: FULL-SIZE SUV SALES, BY COUNTRY,
2023 VS. 2024 (THOUSAND UNITS) 156
TABLE 129 SUV MARKET, BY REGION, 2021–2024 (USD BILLION) 158
TABLE 130 SUV MARKET, BY REGION, 2025–2032 (USD BILLION) 158
TABLE 131 SUV MARKET, BY REGION, 2021–2024 (THOUSAND UNITS) 159
TABLE 132 SUV MARKET, BY REGION, 2025–2032 (THOUSAND UNITS) 159
TABLE 133 ASIA PACIFIC: SUV MARKET, BY COUNTRY, 2021–2024 (USD BILLION) 160
TABLE 134 ASIA PACIFIC: SUV MARKET, BY COUNTRY, 2025–2032 (USD BILLION) 161
TABLE 135 ASIA PACIFIC: SUV MARKET, BY COUNTRY, 2021–2024 (THOUSAND UNITS) 161
TABLE 136 ASIA PACIFIC: SUV MARKET, BY COUNTRY, 2025–2032 (THOUSAND UNITS) 161
TABLE 137 CHINA: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 162
TABLE 138 CHINA: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 162
TABLE 139 CHINA: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 162
TABLE 140 CHINA: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 163
TABLE 141 INDIA: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 163
TABLE 142 INDIA: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 164
TABLE 143 INDIA: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 164
TABLE 144 INDIA: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 164
TABLE 145 JAPAN: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 165
TABLE 146 JAPAN: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 165
TABLE 147 JAPAN: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 165
TABLE 148 JAPAN: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 166
TABLE 149 SOUTH KOREA: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 166
TABLE 150 SOUTH KOREA: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 167
TABLE 151 SOUTH KOREA: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 167
TABLE 152 SOUTH KOREA: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 167
TABLE 153 INDONESIA: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 168
TABLE 154 INDONESIA: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 168
TABLE 155 INDONESIA: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 168
TABLE 156 INDONESIA: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 169
TABLE 157 REST OF ASIA PACIFIC: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 169
TABLE 158 REST OF ASIA PACIFIC: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 170
TABLE 159 REST OF ASIA PACIFIC: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 170
TABLE 160 REST OF ASIA PACIFIC: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 170
TABLE 161 EUROPE: SUV MARKET, BY COUNTRY, 2021–2024 (USD BILLION) 172
TABLE 162 EUROPE: SUV MARKET, BY COUNTRY, 2025–2032 (USD BILLION) 172
TABLE 163 EUROPE: SUV MARKET, BY COUNTRY, 2021–2024 (THOUSAND UNITS) 173
TABLE 164 EUROPE: SUV MARKET, BY COUNTRY, 2025–2032 (THOUSAND UNITS) 173
TABLE 165 GERMANY: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 174
TABLE 166 GERMANY: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 174
TABLE 167 GERMANY: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 174
TABLE 168 GERMANY: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 175
TABLE 169 FRANCE: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 175
TABLE 170 FRANCE: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 176
TABLE 171 FRANCE: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 176
TABLE 172 FRANCE: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 176
TABLE 173 ITALY: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 177
TABLE 174 ITALY: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 177
TABLE 175 ITALY: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 177
TABLE 176 ITALY: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 178
TABLE 177 SPAIN: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 178
TABLE 178 SPAIN: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 179
TABLE 179 SPAIN: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 179
TABLE 180 SPAIN: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 179
TABLE 181 UK: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 180
TABLE 182 UK: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 180
TABLE 183 UK: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 180
TABLE 184 UK: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 181
TABLE 185 CZECH REPUBLIC: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 181
TABLE 186 CZECH REPUBLIC: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 182
TABLE 187 CZECH REPUBLIC: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 182
TABLE 188 CZECH REPUBLIC: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 182
TABLE 189 SLOVAKIA: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 183
TABLE 190 SLOVAKIA: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 183
TABLE 191 SLOVAKIA: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 183
TABLE 192 SLOVAKIA: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 184
TABLE 193 RUSSIA: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 184
TABLE 194 RUSSIA: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 185
TABLE 195 RUSSIA: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 185
TABLE 196 RUSSIA: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 185
TABLE 197 REST OF EUROPE: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 186
TABLE 198 REST OF EUROPE: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 186
TABLE 199 REST OF EUROPE: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 186
TABLE 200 REST OF EUROPE: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 187
TABLE 201 AMERICAS: SUV MARKET, BY COUNTRY, 2021–2024 (USD BILLION) 188
TABLE 202 AMERICAS: SUV MARKET, BY COUNTRY, 2025–2032 (USD BILLION) 188
TABLE 203 AMERICAS: SUV MARKET, BY COUNTRY, 2021–2024 (THOUSAND UNITS) 189
TABLE 204 AMERICAS: SUV MARKET, BY COUNTRY, 2025–2032 (THOUSAND UNITS) 189
TABLE 205 US: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 190
TABLE 206 US: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 190
TABLE 207 US: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 190
TABLE 208 US: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 191
TABLE 209 CANADA: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 191
TABLE 210 CANADA: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 192
TABLE 211 CANADA: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 192
TABLE 212 CANADA: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 192
TABLE 213 MEXICO: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 193
TABLE 214 MEXICO: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 193
TABLE 215 MEXICO: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 194
TABLE 216 MEXICO: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 194
TABLE 217 BRAZIL: SUV MARKET, BY TYPE, 2021–2024 (USD BILLION) 195
TABLE 218 BRAZIL: SUV MARKET, BY TYPE, 2025–2032 (USD BILLION) 195
TABLE 219 BRAZIL: SUV MARKET, BY TYPE, 2021–2024 (THOUSAND UNITS) 195
TABLE 220 BRAZIL: SUV MARKET, BY TYPE, 2025–2032 (THOUSAND UNITS) 196
TABLE 221 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2023–2025 197
TABLE 222 SUV MARKET: DEGREE OF COMPETITION, 2024 200
TABLE 223 REGION FOOTPRINT 208
TABLE 224 PROPULSION FOOTPRINT 209
TABLE 225 APPLICATION FOOTPRINT 210
TABLE 226 TYPE FOOTPRINT 211
TABLE 227 SUV MARKET: PRODUCT LAUNCHES, 2023–2025 212
TABLE 228 SUV MARKET: DEALS, 2023–2025 214
TABLE 229 SUV MARKET: EXPANSIONS, 2023–2025 216
TABLE 230 SUV MARKET: OTHER DEVELOPMENTS, 2023–2025 219
TABLE 231 TOYOTA MOTOR CORPORATION: KEY BRANDS 221
TABLE 232 TOYOTA MOTOR CORPORATION: COMPANY OVERVIEW 221
TABLE 233 TOYOTA MOTOR CORPORATION: PRODUCTS OFFERED 222
TABLE 234 TOYOTA MOTOR CORPORATION: PRODUCT LAUNCHES 224
TABLE 235 TOYOTA MOTOR CORPORATION: DEALS 224
TABLE 236 TOYOTA MOTOR CORPORATION: EXPANSIONS 226
TABLE 237 TOYOTA MOTOR CORPORATION: OTHER DEVELOPMENTS 226
TABLE 238 HONDA MOTOR CO., LTD.: KEY BRANDS 228
TABLE 239 HONDA MOTOR CO., LTD.: COMPANY OVERVIEW 228
TABLE 240 HONDA MOTOR CO., LTD.: PRODUCTS OFFERED 229
TABLE 241 HONDA MOTOR CO., LTD.: PRODUCT LAUNCHES 230
TABLE 242 HONDA MOTOR CO., LTD.: DEALS 231
TABLE 243 HONDA MOTOR CO., LTD.: EXPANSIONS 232
TABLE 244 HONDA MOTOR CO., LTD.: OTHER DEVELOPMENTS 233
TABLE 245 HYUNDAI MOTOR COMPANY: KEY BRANDS 235
TABLE 246 HYUNDAI MOTOR COMPANY: COMPANY OVERVIEW 235
TABLE 247 HYUNDAI MOTOR COMPANY: PRODUCTS OFFERED 236
TABLE 248 HYUNDAI MOTOR COMPANY: PRODUCT LAUNCHES 238
TABLE 249 HYUNDAI MOTOR COMPANY: DEALS 239
TABLE 250 HYUNDAI MOTOR COMPANY: OTHER DEVELOPMENTS 240
TABLE 251 GENERAL MOTORS: KEY BRANDS 241
TABLE 252 GENERAL MOTORS: COMPANY OVERVIEW 241
TABLE 253 GENERAL MOTORS: PRODUCTS OFFERED 242
TABLE 254 GENERAL MOTORS: PRODUCT LAUNCHES 243
TABLE 255 GENERAL MOTORS: DEALS 244
TABLE 256 GENERAL MOTORS: EXPANSIONS 245
TABLE 257 GENERAL MOTORS: OTHER DEVELOPMENTS 245
TABLE 258 STELLANTIS N.V.: KEY BRANDS 247
TABLE 259 STELLANTIS N.V.: COMPANY OVERVIEW 248
TABLE 260 STELLANTIS N.V.: PRODUCTS OFFERED 249
TABLE 261 STELLANTIS N.V.: PRODUCT LAUNCHES 250
TABLE 262 STELLANTIS N.V.: DEALS 252
TABLE 263 STELLANTIS N.V.: EXPANSIONS 252
TABLE 264 STELLANTIS N.V.: OTHER DEVELOPMENTS 253
TABLE 265 VOLKSWAGEN GROUP: KEY BRANDS 254
TABLE 266 VOLKSWAGEN GROUP: COMPANY OVERVIEW 254
TABLE 267 VOLKSWAGEN GROUP: PRODUCTS OFFERED 255
TABLE 268 VOLKSWAGEN GROUP: PRODUCT LAUNCHES 257
TABLE 269 VOLKSWAGEN GROUP: DEALS 257
TABLE 270 VOLKSWAGEN GROUP: EXPANSIONS 258
TABLE 271 VOLKSWAGEN GROUP: OTHER DEVELOPMENTS 259
TABLE 272 FORD MOTOR COMPANY: KEY BRANDS 260
TABLE 273 FORD MOTOR COMPANY: COMPANY OVERVIEW 260
TABLE 274 FORD MOTOR COMPANY: PRODUCTS OFFERED 261
TABLE 275 FORD MOTOR COMPANY: DEALS 262
TABLE 276 FORD MOTOR COMPANY: OTHER DEVELOPMENTS 263
TABLE 277 MERCEDES-BENZ: KEY BRANDS 264
TABLE 278 MERCEDES-BENZ: COMPANY OVERVIEW 264
TABLE 279 MERCEDES-BENZ: PRODUCTS OFFERED 265
TABLE 280 MERCEDES-BENZ: PRODUCT LAUNCHES 266
TABLE 281 MERCEDES-BENZ: OTHER DEVELOPMENTS 267
TABLE 282 BMW GROUP: KEY BRANDS 268
TABLE 283 BMW GROUP: COMPANY OVERVIEW 268
TABLE 284 BMW GROUP: PRODUCTS OFFERED 269
TABLE 285 BMW GROUP: PRODUCT LAUNCHES 270
TABLE 286 BMW GROUP: EXPANSIONS 272
TABLE 287 BMW GROUP: OTHER DEVELOPMENTS 272
TABLE 288 NISSAN MOTORS: COMPANY OVERVIEW 273
TABLE 289 NISSAN MOTORS: PRODUCTS OFFERED 274
TABLE 290 NISSAN MOTORS: PRODUCT LAUNCHES 275
TABLE 291 NISSAN MOTORS: DEALS 275
TABLE 292 RENAULT GROUP: COMPANY OVERVIEW 276
TABLE 293 SUZUKI MOTOR CORPORATION: COMPANY OVERVIEW 277
TABLE 294 SUBARU CORPORATION: COMPANY OVERVIEW 278
TABLE 295 TATA MOTORS: COMPANY OVERVIEW 279
TABLE 296 MITSUBISHI MOTORS CORPORATION: COMPANY OVERVIEW 280
TABLE 297 MAHINDRA & MAHINDRA LIMITED: COMPANY OVERVIEW 281
TABLE 298 VOLVO CAR CORPORATION: COMPANY OVERVIEW 282
TABLE 299 TESLA, INC.: COMPANY OVERVIEW 283
TABLE 300 MAZDA MOTOR CORPORATION: COMPANY OVERVIEW 284
TABLE 301 BYD COMPANY LTD.: COMPANY OVERVIEW 285
TABLE 302 ISUZU MOTORS LIMITED: COMPANY OVERVIEW 286
FIGURE 1 SUV MARKET SEGMENTATION 28
FIGURE 2 MARKET SCENARIO 32
FIGURE 3 GLOBAL SUV MARKET, 2021–2032 32
FIGURE 4 MAJOR STRATEGIES ADOPTED BY KEY PLAYERS IN SUV MARKET, 2023–2025 33
FIGURE 5 DISRUPTIONS INFLUENCING GROWTH OF SUV MARKET 34
FIGURE 6 HIGH-GROWTH SEGMENTS IN SUV MARKET, 2025–2032 34
FIGURE 7 ASIA PACIFIC TO DOMINATE SUV MARKET DURING FORECAST PERIOD 35
FIGURE 8 SUV PRODUCTION VS. SALES, 2024 (THOUSAND UNITS) 36
FIGURE 9 SUV PRODUCTION VS. TOTAL CAR PRODUCTION, 2021–2032 (THOUSAND UNITS) 36
FIGURE 10 CONSUMER INCLINATION TOWARD UPRIGHT DRIVING EXPERIENCE
TO DRIVE MARKET 38
FIGURE 11 MID-SIZE TO BE LARGEST SEGMENT DURING FORECAST PERIOD 38
FIGURE 12 5-SEATER TO HOLD HIGHER SHARE THAN >5-SEATER DURING FORECAST PERIOD 39
FIGURE 13 CLASS D TO SECURE LEADING POSITION DURING FORECAST PERIOD 39
FIGURE 14 GASOLINE TO SURPASS OTHER SEGMENTS DURING FORECAST PERIOD 40
FIGURE 15 PHEV TO BE FASTEST-GROWING SEGMENT DURING FORECAST PERIOD 40
FIGURE 16 EUROPE TO EXHIBIT FASTEST GROWTH DURING FORECAST PERIOD 41
FIGURE 17 SUV MARKET DYNAMICS 42
FIGURE 18 LUXURY SUV PRODUCTION (D AND E SEGMENTS), 2019–2024 (UNITS) 43
FIGURE 19 PATENT ANALYSIS 56
FIGURE 20 FUTURE APPLICATIONS 60
FIGURE 21 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF SUVS 65
FIGURE 22 KEY BUYING CRITERIA FOR SUVS 66
FIGURE 23 ECOSYSTEM ANALYSIS 77
FIGURE 24 SUPPLY CHAIN ANALYSIS 80
FIGURE 25 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 83
FIGURE 26 INVESTMENT AND FUNDING SCENARIO, 2020–2025 (USD BILLION) 84
FIGURE 27 IMPORT DATA FOR HS CODE 870380-COMPLIANT PRODUCTS,
BY COUNTRY, 2020–2024 (USD BILLION) 86
FIGURE 28 EXPORT DATA FOR HS CODE 870380-COMPLIANT PRODUCTS,
BY COUNTRY, 2020–2024 (USD BILLION) 87
FIGURE 29 TOTAL COST OF OWNERSHIP OF ICE VS. ELECTRIC SUVS 91
FIGURE 30 ICE VS. EV COST COMPARISON 92
FIGURE 31 BILL OF MATERIALS FOR ICE VS. ELECTRIC SUVS, 2025 VS. 2030 92
FIGURE 32 SUV L*H GLOBAL ANALYSIS, 2024 93
FIGURE 33 ELECTRIC SUV L*H GLOBAL ANALYSIS, 2024 94
FIGURE 34 SUV VS. TOTAL PASSENGER VEHICLE VOLUME SALES, 2018−2023 95
FIGURE 35 SUV VS. TOTAL PASSENGER VEHICLE VOLUME SALES, 2024−2030 95
FIGURE 36 SUV PENETRATION IN TOTAL PASSENGER CAR SALES, 2018−2030 96
FIGURE 37 GLOBAL SUV SALES, BY TYPE, 2023−2030 97
FIGURE 38 GLOBAL SUV SALES, BY PROPULSION, 2023−2030 98
FIGURE 39 GLOBAL SUV SALES, BY REGION, 2018−2022 98
FIGURE 40 GLOBAL SUV SALES, BY REGION, 2023−2030 99
FIGURE 41 NORTH AMERICA: SUV L*H ANALYSIS 99
FIGURE 42 EUROPE: SUV L*H ANALYSIS 100
FIGURE 43 ASIA PACIFIC: SUV L*H ANALYSIS 101
FIGURE 44 GLOBAL AVERAGE BATTERY COST (USD/KWH) 101
FIGURE 45 AUXILIARY COST VS. CELL COST (%) 102
FIGURE 46 EV BATTERY COST IN SUVS 102
FIGURE 47 ELECTRIC SUV BATTERY CAPACITY VS. RANGE ANALYSIS 103
FIGURE 48 ELECTRIC SUV PRICING VS. RANGE ANALYSIS 104
FIGURE 49 SUV MANUFACTURING PLANTS 107
FIGURE 50 TOYOTA GROUP: SUV L*H ANALYSIS 108
FIGURE 51 VOLKSWAGEN GROUP: SUV L*H ANALYSIS 109
FIGURE 52 HYUNDAI GROUP: SUV L*H ANALYSIS 110
FIGURE 53 SUV MARKET, BY TYPE, 2025 VS. 2032 (USD BILLION) 112
FIGURE 54 SUV MARKET, BY CLASS, 2025 VS. 2032 (USD BILLION) 123
FIGURE 55 SUV MARKET, BY SEATING CAPACITY, 2025 VS. 2032 (USD BILLION) 132
FIGURE 56 SUV MARKET, BY PROPULSION, 2025 VS. 2032 (USD BILLION) 138
FIGURE 57 ELECTRIC SUV MARKET, BY TYPE, 2025 VS. 2032 (USD BILLION) 145
FIGURE 58 GLOBAL SUV SALES, BY TYPE, 2023 VS. 2024 (THOUSAND UNITS) 152
FIGURE 59 SUV MARKET, BY REGION, 2025 VS. 2032 (USD BILLION) 158
FIGURE 60 ASIA PACIFIC: SUV MARKET SNAPSHOT 160
FIGURE 61 EUROPE: SUV MARKET SNAPSHOT 171
FIGURE 62 AMERICAS: SUV MARKET SNAPSHOT 188
FIGURE 63 MARKET SHARE ANALYSIS OF KEY PLAYERS, 2024 199
FIGURE 64 REVENUE ANALYSIS OF TOP FIVE PLAYERS, 2022–2024 (USD BILLION) 202
FIGURE 65 COMPANY VALUATION (USD BILLION) 202
FIGURE 66 FINANCIAL METRICS (EV/EBITDA) 203
FIGURE 67 BRAND/PRODUCT COMPARISON 204
FIGURE 68 COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024 206
FIGURE 69 COMPANY FOOTPRINT 207
FIGURE 70 TOYOTA MOTOR CORPORATION: COMPANY SNAPSHOT 222
FIGURE 71 HONDA MOTOR CO., LTD.: COMPANY SNAPSHOT 229
FIGURE 72 HYUNDAI MOTOR COMPANY: COMPANY SNAPSHOT 236
FIGURE 73 GENERAL MOTORS: COMPANY SNAPSHOT 242
FIGURE 74 STELLANTIS N.V.: COMPANY SNAPSHOT 248
FIGURE 75 VOLKSWAGEN GROUP: COMPANY SNAPSHOT 255
FIGURE 76 FORD MOTOR COMPANY: COMPANY SNAPSHOT 261
FIGURE 77 MERCEDES-BENZ: COMPANY SNAPSHOT 265
FIGURE 78 BMW GROUP: COMPANY SNAPSHOT 269
FIGURE 79 NISSAN MOTORS: COMPANY SNAPSHOT 273
FIGURE 80 RESEARCH DESIGN 287
FIGURE 81 RESEARCH DESIGN MODEL 288
FIGURE 82 MARKET ESTIMATION METHODOLOGY 292
FIGURE 83 BOTTOM-UP APPROACH (TYPE AND REGION) 293
FIGURE 84 TOP-DOWN APPROACH (CLASS) 294
FIGURE 85 DATA TRIANGULATION 295
FIGURE 86 GROWTH PROJECTIONS FROM DEMAND-SIDE DRIVERS 296
FIGURE 87 DEMAND- AND SUPPLY-SIDE FACTOR ANALYSIS 296