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SUVs - Southern Europe

Southern Europe
  • Revenue in the SUVs market is projected to reach US$57bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.08%, resulting in a projected market volume of US$57bn by 2029.
  • SUVs market unit sales are expected to reach 1.6m vehicles in 2029.
  • The volume weighted average price of SUVs market in 2024 is expected to amount to US$37k.
  • From an international perspective it is shown that the most revenue will be generated United States (US$333bn in 2024).

This market segment includes vehicles similar to light commercial vehicles, which are mostly used as family cars. They have an average footprint 4.45m2 (47ft2) and an average mass around 1890kg (4165lbs). All key figures shown represent the sales of new SUVs in the basic configuration in the respective year. Used vehicles are not taken into account, nor is adapted equipment for the new cars sold. The prices and revenues shown as well as the distribution of connectivity, drive types, autonomy levels, and average CO2 emissions are accordingly based on the basic models.

  • European Car Segment: J (Sport Utility Cars)
  • US Car Segment: Sport Utility Vehicles
  • Chinese Car Segment: Sport Utility Vehicles
  • Also known as: 4x4

Example models: BMW X5, Land Rover Discovery, Land Rover Range Rover, Land Rover Freelander, Mitsubishi Outlander, Peugeot 5008, Suzuki Vitara.

In-Scope

  • SUVs
  • Crossover SUVs

Out-Of-Scope

  • Minivans
SUVs: market data & analysis - Cover

Market Insights report

SUVs: market data & analysis

Study Details

    Unit Sales

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Mar 2024

    Analyst Opinion

    The SUVs market in Southern Europe has been experiencing significant growth in recent years. Customer preferences for SUVs have been driving this trend, as consumers in the region are increasingly looking for vehicles that offer a combination of style, versatility, and practicality.

    Furthermore, local special circumstances and underlying macroeconomic factors have also contributed to the development of the SUVs market in Southern Europe. Customer preferences in Southern Europe have shifted towards SUVs due to their attractive features and capabilities. SUVs offer a higher driving position, which provides better visibility and a sense of safety on the road.

    Additionally, SUVs are known for their spacious interiors and ample cargo space, making them suitable for families and individuals with active lifestyles. The versatility of SUVs allows consumers to use them for both daily commuting and outdoor adventures. Furthermore, SUVs are often equipped with advanced technology features and safety systems, which appeal to tech-savvy consumers in the region.

    Trends in the SUVs market in Southern Europe reflect the growing demand for these vehicles. Sales of SUVs have been steadily increasing, with a wide range of models available from various automakers. This trend is driven by both domestic and international brands, as they recognize the market potential in Southern Europe.

    Automakers are introducing new SUV models with innovative features and design elements to attract customers in the region. Additionally, there is a growing demand for hybrid and electric SUVs, as consumers in Southern Europe are becoming more environmentally conscious. Local special circumstances in Southern Europe have also contributed to the development of the SUVs market.

    The region's diverse terrain, including mountainous areas and coastal regions, makes SUVs a practical choice for navigating different road conditions. SUVs offer better traction and stability, which is particularly important in regions with challenging weather conditions. Furthermore, the cultural preference for larger vehicles in Southern Europe has also influenced the popularity of SUVs.

    SUVs are often seen as a symbol of status and prestige, appealing to consumers who value luxury and style. Underlying macroeconomic factors have played a role in the growth of the SUVs market in Southern Europe. Economic stability and increasing disposable income levels have allowed consumers to afford higher-priced vehicles, including SUVs.

    Low interest rates and favorable financing options have also made SUVs more accessible to a wider range of consumers. Furthermore, government incentives and subsidies for electric and hybrid vehicles have encouraged the adoption of eco-friendly SUVs in the region. In conclusion, the SUVs market in Southern Europe has been developing due to customer preferences for vehicles that offer style, versatility, and practicality.

    Trends in the market reflect the growing demand for SUVs, with a wide range of models available from various automakers. Local special circumstances, such as diverse terrain and cultural preferences, have also contributed to the popularity of SUVs in the region. Underlying macroeconomic factors, including economic stability and government incentives, have further supported the growth of the SUVs market in Southern Europe.

    Technical Specifications

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Notes: Level 0: No automation and very limited driver assistance in the form of automatic emergency braking or blind-spot warning. Level 1: Driver assistance such as cruise control or lane centering. Level 2: Partial automation, including brake and steering support. Level 3: Conditional automation in which the vehicle can perform most driving tasks. In certain scenarios, human intervention is still needed.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Price

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Methodology

    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).

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