1.1 Definition and scope of study
SUV stands for Sport Utility Vehicle and identifies mixed machines that combine the pragmatism of an automobile with the ruggedness of an off-road vehicle, from which they inherit many features that go well beyond mere size. These models are perfectly adapted to both urban and off-road scenarios. The elevated driving position compared to a traditional car gives a wide feeling of control, handling and safety. The global SUV market has been valued at $2924.52 million in 2020 and is expected to grow at a CAGR of 2.42% from 2020 to 2027. Over the past six years, this segment has been a real benchmark in terms of units sold across Europe.
In 2019, prior to Covid, SUVs had recorded a total of 6.03 million units sold in Europe representing a 38.3% share of the total market, an all-time high in recent years. In Italy, SUVs' share of the car market is around 40%, with small SUVs leading the sector. These models also climb positions in the ranking of the best-selling individual cars, with Fiat 500X and Jeep Renegade coming in at #4 and #5 in the ranking of the best-selling cars in Italy in 2020.
The trend will continue in the coming years, with many brands, such as Peugeut, Hyundai and Alfa Romeo, already announcing new models coming to market. Consumers are looking for small and compact SUVs, but mostly electric: the electrification trend in all expected variants (mild hybrid, full hybrid, plug-in hybrid and 100% electric) is less extensive among high-wheel models, so the market will quickly adapt. Major manufacturers include Volkswagen Group, Toyota Group, Renault Nissan Alliance, FCA-PSA, General Motors, Hyundai-Kia, Ford Group, Honda Motor and Merceder Daimler.
To keep reading, buy the full research
What is in this market study?
- What are the figures on the size and growth of the market?
- What is driving the growth of the market and its evolution?
- What are the latest trends in this market?
- What is the positioning of companies in the value chain?
- How do companies in the market differ from each other?
- Access company mapping and profiles.
- Data from several dozen databases
This market study is available online and in pdf format (30 p.)
- Consult an example PDF or online
Availability within 10 business days
1 sector analyzed
in 40 pages
The market for automatic cash registers - France
Interesting estimate of a fast-growing market mainly centered on mass retailing and specialized distribution, whose development is however slowed down by social problems linked to the disappearance of cashiers. Consumer behavior in front of these automatic checkouts and product typology well analyzed
Hello Malcolm, Thank you very much for this very positive review! We are delighted that you are enjoying our studies and we thank you for your trust in us.
The bodywork market - France
Publicado en 25/02/2021 by Lengele
Saves time on researching reliable statistics
Hello, Thank you for your feedback which helps us to improve the quality of our studies.
The Glass Fiber Market - France
Publicado en 11/02/2021 by Marc-Henri Mignon - Insights & Synergies Conseils
An interesting price-quality ratio to enter a new market
Hello Marc-Henri, Thank you for your feedback which helps us to improve the quality of our studies.