SUVs - France | Statista Market Forecast

SUVs - France

France

Highlights

Revenue in the SUVs market is projected to reach US$23bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.13%, resulting in a projected market volume of US$23bn by 2029.
SUVs market unit sales are expected to reach 717.8k vehicles in 2029.
The volume weighted average price of SUVs market in 2024 is expected to amount to US$33k.
From an international perspective it is shown that the most revenue will be generated United States (US$333bn in 2024).

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The SUVs market in France has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Customers in France have shown a growing preference for SUVs due to their versatility, spaciousness, and perceived safety. SUVs offer a higher driving position, which provides better visibility on the road, making them popular among families and older drivers. Additionally, SUVs have become more fuel-efficient and environmentally friendly, making them a more attractive option for eco-conscious consumers.

Trends in the market: One of the key trends in the SUVs market in France is the increasing popularity of compact SUVs. These smaller SUVs offer the benefits of an SUV, such as higher ground clearance and a spacious interior, but in a more compact and maneuverable package. This trend is driven by the desire for a practical and versatile vehicle that is suitable for both urban and rural environments. Another trend in the market is the growing demand for electric SUVs. As the government in France has implemented stricter emissions regulations and incentives for electric vehicles, consumers are increasingly opting for electric SUVs as a greener alternative. This trend is expected to continue as more automakers introduce electric SUV models to the market.

Local special circumstances: France has a diverse landscape, ranging from cities to mountains and countryside, which makes SUVs a practical choice for many consumers. SUVs offer better traction and handling on uneven terrain, making them well-suited for rural areas and outdoor activities. Additionally, the size and spaciousness of SUVs make them popular for long-distance travel and family vacations, which are common in France.

Underlying macroeconomic factors: The strong growth in the SUVs market in France can also be attributed to favorable macroeconomic factors. The French economy has been relatively stable in recent years, with low unemployment rates and increasing disposable incomes. As a result, consumers have more purchasing power and are more willing to invest in larger, more expensive vehicles like SUVs. Additionally, low interest rates and attractive financing options have made it easier for consumers to afford SUVs. In conclusion, the SUVs market in France is growing due to changing customer preferences, such as the demand for compact and electric SUVs, as well as local special circumstances, such as the diverse landscape and the need for practical and versatile vehicles. Favorable macroeconomic factors, including a stable economy and increasing disposable incomes, have also contributed to the growth of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).