SUVs - Poland | Statista Market Forecast

SUVs - Poland

Poland

Highlights

Revenue in the SUVs market is projected to reach US$7bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.47%, resulting in a projected market volume of US$8bn by 2029.
SUVs market unit sales are expected to reach 223.5k vehicles in 2029.
The volume weighted average price of SUVs market in 2024 is expected to amount to US$36k.
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 Poland has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Polish customers have shown a growing preference for SUVs due to their versatility, spaciousness, and ruggedness. SUVs offer a higher driving position, which provides better visibility on the road, and their larger size makes them suitable for families and outdoor activities. Additionally, SUVs are often perceived as safer vehicles, which is an important consideration for many Polish consumers.

Trends in the market: One of the key trends in the SUVs market in Poland is the increasing demand for smaller and more fuel-efficient SUVs. This trend is driven by rising fuel prices and a growing awareness of environmental issues. Customers are looking for SUVs that offer a balance between size and fuel efficiency, and automakers are responding by introducing smaller SUV models with more efficient engines. Another trend in the market is the growing popularity of hybrid and electric SUVs. As the government and consumers become more concerned about reducing emissions and transitioning to greener technologies, the demand for hybrid and electric vehicles, including SUVs, has been on the rise. Automakers are investing in developing and expanding their hybrid and electric SUV offerings to cater to this growing demand.

Local special circumstances: Poland's geography and climate also contribute to the popularity of SUVs in the country. With its diverse landscapes, including mountains, forests, and lakes, Poland offers ample opportunities for outdoor activities such as hiking, camping, and skiing. SUVs are well-suited for navigating these terrains and provide the necessary space to carry equipment and gear. Additionally, Poland experiences harsh winters, with heavy snowfall in many regions. SUVs with their higher ground clearance and four-wheel drive capabilities are preferred by Polish consumers for their ability to handle these challenging weather conditions.

Underlying macroeconomic factors: The improving economic conditions in Poland have also played a role in the growth of the SUVs market. As disposable incomes have increased, more consumers are able to afford SUVs, which tend to have higher price points compared to other vehicle segments. Additionally, the availability of financing options and competitive interest rates have made it easier for consumers to purchase SUVs. In conclusion, the SUVs market in Poland is experiencing growth due to changing customer preferences, including a preference for smaller and more fuel-efficient SUVs, as well as the increasing popularity of hybrid and electric SUVs. The country's geography and climate, along with improving economic conditions, also contribute to the demand for SUVs.

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).