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Global Sports Utility Vehicle Market to reach USD 66.7 billion by the end of 2030.

Global Sports Utility Vehicle Market Size study & Forecast, by Type (SUV-C, SUV-D, SUV-E, SUV-F), by Fuel type (Diesel, Petrol, Electric, Others),by Seating Capacity (5-seater, 7-seater, 8 and above seater) and Regional Analysis, 2023-2030

Product Code: ALTPCV-54796382
Publish Date: 4-08-2023
Page: 200

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)
Nissan Motor Co., LTD. (Japan)
Honda Motor Co., Ltd. (Japan)
Recent Developments in the Market:
Ø 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.

Ø 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.

Ø 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:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Fuel Type, Seating Capacity, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü 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:

By Seating Capacity:
8 and above seater

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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 Rising demand of passenger cars Increase demand of luxury cars
3.1.2. Market Challenges Shifting preference toward electric vehicles Rising cost of fuel
3.1.3. Market Opportunities Rising demand of safety features in automobiles 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 Type breakdown estimates & forecasts, 2020-2030 Fuel Type breakdown estimates & forecasts, 2020-2030 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.) Key Information Overview Financial (Subject to Data Availability) Product Summary 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)
9.3.9. 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

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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