HOME Top Market Reports SUV Market Trend Analysis by Production, Sale & Type (SUV, Sub-Compact SUV, Crossover, MPV), Demographics & Economy (Population, Median Age, Per Capita Income, Unemployment Ratio & their Correlation Coefficient), & by Competitive Benchmarking - Forecast to 2020

SUV Market Trend Analysis by Production, Sale & Type (SUV, Sub-Compact SUV, Crossover, MPV), Demographics & Economy (Population, Median Age, Per Capita Income, Unemployment Ratio & their Correlation Coefficient), & by Competitive Benchmarking - Forecast to 2020

By: marketsandmarkets.com
Publishing Date: February 2016
Report Code: AT 4115

 

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Sports utility vehicle (SUV), sub-compact SUV, crossover, and multi-purpose/utility vehicle (MPV/MUV) are all sub segments of the passenger car segment. The SUV is capable of being driven on on-road as well as off-road terrains, as it is generally equipped with a four-wheel or all-wheel drive (AWD) and is built on a light truck chassis. The SUVs have passenger-carrying space and are known for their high ground clearance, high center of gravity, high H-point, and boxy body design. A sub-compact SUV is a smaller version of the SUV, based on the supermini (European B segment) platform, and with length under 4,200 mm. Sub-compact SUVs generally feature four-wheel or all-wheel drive (AWD) systems. A crossover or crossover utility vehicle (CUV) combines SUV features (such as high H-point, high ground clearance, and available option of an all-wheel-drive system) with passenger car features (such as unibody construction, fifth door entry, and foldable rear seats). An MPV is a vehicle equipped with three rows of adult-sized seats, which has passenger car-like handling and fuel economy; it is usually available in unibody construction and tends to feature front- or rear-wheel drive.

The SUV and sub-compact SUV market, in terms of sales, is projected to reach 30.16 Million Units by 2020, growing at a CAGR of 5.36% during the forecast period. The market has witnessed considerable growth in countries such as the U.S., China, India, and Mexico, owing to advantages such as low cost, compactness, stylistic design, and high maneuverability.

This report provides an SUV market trend analysis in key countries from regions that include North America, Europe, Asia-Oceania and Rest of the world (RoW), which is further segmented by SUV segment type. The report also outlines a roadmap, based on vehicle type and region, including various features.

The research methodology used in the report involves various secondary sources, including paid databases and directories. Experts from related industries and suppliers have been interviewed to understand the future trends of the SUV and sub-compact SUV market.

The research design comprises current leading SUV and sub-compact SUV models in different regions and countries, along with a sales and production analysis of each model and their potential impact on the overall automotive industry and its stakeholders. Features such as safety and luxury provisions, engine codes, and platforms have been highlighted through incorporated model mapping techniques. Data analysis of market trends and key demographic and economic factors have been validated by examining statistical correlations between important variables.

The regions covered are Asia-Oceania, Europe, North America, and the Rest of the World. Information regarding current and planned regulations has been gathered from various secondary and primary sources, and their impact on the automotive value chain has been identified through extensive primary and secondary research. Primary research interviews have been conducted with key opinion leaders in the automotive industry, regulatory bodies, agencies, and executives such as CEOs, directors, and industry experts to validate findings in the study.

The figure provided below illustrates the break-up of the profile of industry experts who participated in primary discussions.

SUV Market Trend Analysis

The SUV and cub-compact SUV ecosystem comprises manufacturers such as Ford Motor Company (U.S.), Toyota (Japan), Honda (Japan), Hyundai (South Korea), and General Motors (U.S.), research institutes such as the Automotive Research Association of India (ARAI), European Automotive Research Partners Association (EARPA), and the United States Council for Automotive Research (USCAR), and regional automobile associations such as China Association of Automobile Manufacturers (CAAM), Japan Automobile Manufacturers Association (JAMA), and the European Automobile Manufacturers Association (ACEA).

Target Audience

  • Manufacturers of SUVs, sub-compact-SUVs, Crossovers, and MPVs
  • Component suppliers for the aforementioned vehicle types
  • Dealers and distributors
  • Automotive industry associations
  • Investment firms
  • Equity research firms
  • Private equity firms
  • Governments and regulatory authorities

Scope of the Report

  • By vehicle type (SUV, sub-compact SUV, crossover, and MUV/MPV)
  • Roadmap (by region and vehicle type)
  • Competitive benchmarking
  • Demographics
  • By region (North America, Asia-Oceania, Europe, and RoW)

Available Customizations

With the given market data, MarketsandMarkets can provide market data for the below categories:

  1. Further analysis of countries from the Rest of Europe and Rest of Asia-Pacific
  2. Profiling of market players (manufacturers)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered in the Report
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
    2.2 Secondary Data
           2.2.1 Key Secondary Sources
           2.2.2 Key Data From Secondary Sources
    2.3 Primary Data
           2.3.1 Primary Participants
    2.4 Market Size Estimation
           2.4.1 Assumptions

3 Executive Summary (Page No. - 24)

4 SUV & Subcompact SUV Market Roadmap & Competitive Benchmarking, By Region (Page No. - 28)
    4.1 Introduction
           4.1.1 North America - Roadmap
                    4.1.1.1 Roadmap, By Key Models
                               4.1.1.1.1 Chevrolet Suburban
                               4.1.1.1.2 Chevrolet Tahoe
                               4.1.1.1.3 Chevrolet Equinox
                               4.1.1.1.4 Chevrolet Trax
                               4.1.1.1.5 Ford Explorer
                               4.1.1.1.6 Ford Expedition
                               4.1.1.1.7 Ford Escape
                               4.1.1.1.8 Toyota Land Cruiser
                               4.1.1.1.9 Toyota Sequoia
                               4.1.1.1.10 Toyota RAV4
                               4.1.1.1.11 Toyota Highlander
                               4.1.1.1.12 Honda CR-V
                               4.1.1.1.13 Honda Pilot
           4.1.2 Roadmap of Europe
                    4.1.2.1 Roadmap, By Key Models
                               4.1.2.1.1 Nissan Terrano Ii
                               4.1.2.1.2 Nissan Qashqai
                               4.1.2.1.3 Nissan Juke
                               4.1.2.1.4 Nissan X-Trail
                               4.1.2.1.5 Mitsubishi Pajero Sport
                               4.1.2.1.6 Toyota Land Cruiser
                               4.1.2.1.7 Toyota RAV4
                               4.1.2.1.8 Honda CR-V
                               4.1.2.1.9 Volkswagen Touareg
                               4.1.2.1.10 Volkswagen Tiguan
                               4.1.2.1.11 Ford Kuga
                               4.1.2.1.12 Audi Q7
                               4.1.2.1.13 Fiat 500x
           4.1.3 Roadmap of Asia- Oceania
                    4.1.3.1 China
                               4.1.3.1.1 Roadmap, By Key Models
                                             4.1.3.1.1.1 Honda CR-V
                                             4.1.3.1.1.2 Infiniti Qx50
                                             4.1.3.1.1.3 Nissan X-Trail
                                             4.1.3.1.1.4 Nissan Qashqai
                                             4.1.3.1.1.5 Nissan Murano
                                             4.1.3.1.1.6 Land Cruiser Prado
                                             4.1.3.1.1.7 Toyota Highlander
                                             4.1.3.1.1.8 Toyota RAV4
                    4.1.3.2 India
                               4.1.3.2.1 Roadmap, By Key Models
                                             4.1.3.2.1.1 Mahindra Bolero
                                             4.1.3.2.1.2 Mahindra Scorpio
                                             4.1.3.2.1.3 Mahindra XUV 5oo
                                             4.1.3.2.1.4 Tata Sumo
                                             4.1.3.2.1.5 Tata Movus
                               4.1.3.2.2 Tata Safari
                                             4.1.3.2.2.1 Tata Safari Storme
                                             4.1.3.2.2.2 Honda CR-V
                                             4.1.3.2.2.3 Toyota Fortuner
                    4.1.3.3 Japan
                               4.1.3.3.1 Roadmap, By Key Models
                                             4.1.3.3.1.1 Toyota RAV4
                                             4.1.3.3.1.2 Lexus NX
                                             4.1.3.3.1.3 Mitsubishi Pajero
                                             4.1.3.3.1.4 Mitsubishi Outlander
                                             4.1.3.3.1.5 Honda CR-V
                                             4.1.3.3.1.6 Mazda Cx-5
                                             4.1.3.3.1.7 Nissan X-Trail
                                             4.1.3.3.1.8 Nissan Juke
                    4.1.3.4 South Korea
                               4.1.3.4.1 Roadmap, By Key Models
                                             4.1.3.4.1.1 Hyundai Santa Fe
                                             4.1.3.4.1.2 Kia Sorento
                                             4.1.3.4.1.3 Hyundai Tucson
                                             4.1.3.4.1.4 Kia Sportage
    4.2 Competitive Benchmarking  of SUV & Sub-Compact SUV
           4.2.1 Top 10 Sub-Compact SUV Models, By Global Sales
           4.2.2 Top 10 SUV Models, By Global Sales
           4.2.3 Top 10 Crossover Models, By Global Sales
    4.3 Demographic
           4.3.1 Per Capita Income
                    4.3.1.1 North America: Correlation Coefficient - SUV Sales vs Per Capita Income
           4.3.2 Population
           4.3.3 Unemployment Ratio
           4.3.4 Median Age
    4.4 Drop in Global Oil and Commodity Prices

5 SUV & Sub-Compact SUV Trends By Safety Features (Page No. - 66)
    5.1 Introduction
    5.2 North America
           5.2.1 U.S. - Safety and Luxury Feature Mapping for Top Models
           5.2.2 Canada - Safety and Luxury Feature Mapping for Top Models
           5.2.3 Mexico - Safety and Luxury Feature Mapping for Top Models
    5.3 Europe
           5.3.1 Germany - Safety and Luxury Feature Mapping for Top Models
           5.3.2 U.K. - Safety and Luxury Feature Mapping for Top Models
           5.3.3 France - Safety and Luxury Feature Mapping for Top Models
    5.4 Asia Oceania
           5.4.1 China - Safety and Luxury Feature Mapping for Top Models
           5.4.2 India - Safety and Luxury Feature Mapping for Top Models
           5.4.3 Japan - Safety and Luxury Feature Mapping for Top Models

6 Market Sizing & Analysis (Page No. - 92)
    6.1 Introduction
    6.2 Market, By Region & Type
           6.2.1 Production, By Region
           6.2.2 Production, By Type
           6.2.3 Sales, By Region
           6.2.4 Sales, By Type
    6.3 North America
           6.3.1 Country-Wise Market, By Production & Sales
           6.3.2 Vehicle Type Market, By Production & Sales
           6.3.3 U.S. – Top Selling Models
           6.3.4 Canada– Top Selling Models
           6.3.5 Mexico– Top Selling Models
    6.4 Europe
           6.4.1 Country-Wise Market, By Production & Sales
           6.4.2 Vehicle Type Market, By Production & Sales
           6.4.3 Germany– Top Selling Models
           6.4.4 France – Top Selling Models
           6.4.5 U.K. – Top Selling Models
           6.4.6 Italy– Top Selling Models
    6.5 Asia-Oceania
           6.5.1 Country-Wise Market, By Production & Sales
           6.5.2 Vehicle Type Market, By Production & Sales
           6.5.3 China – Top Selling Models
           6.5.4 India – Top Selling Models
           6.5.5 Japan – Top Selling Models
    6.6 Rest of the World
           6.6.1 Country-Wise Market, By Production & Sales
           6.6.2 Vehicle Type Market, By Production & Sales
           6.6.3 Brazil – Top Selling Models

7 Appendix (Page No. - 118)
    7.1 Discussion Guide
    7.2 Recent Developments
    7.3 Acronyms


List of Tables (46 Tables)

Table 1 Penetration of 4x4 Vehicles in European Countries, 1990-2014
Table 2 Japan: New Vehicle Registration Trends, By Cubic Capacity, 1980-2014 (‘000 Units)
Table 3 Sub-Compact SUV Models, By Global Sales
Table 4 SUV Models, By Global Sales
Table 5 Crossover Models, By Global Sales
Table 6 North America: SUV Sales vs Per Capita Income, Correlation Coefficient (2006-2014)
Table 7 Europe: SUV Sales vs Per Capita Income, Correlation Coefficient  (2006-2014)
Table 8 Asia-Oceania: SUV Sales vs Per Capita Income, Correlation Coefficient (2006-2014)
Table 9 RoW: SUV Sales vs Per Capita Income, Correlation Coefficient (2006-2014)
Table 10 Correlation Coefficient, By Region: SUV Sales vs Population
Table 11 North America Correlation Coefficient: SUV Sales vs Unemployment Ratio (2006-2014)
Table 12 Europe Correlation Coefficient: SUV Sales vs Unemployment Ratio (2006-2014)
Table 13 Asia-Oceania Correlation Coefficient: SUV Sales and Unemployment Ratio (2006-2014)
Table 14 RoW Correlation Coefficient: SUV Sales vs Unemployment Ratio (2006-2014)
Table 15 U.S. – Safety and Luxury Feature Mapping for Top Models
Table 16 Canada – Safety and Luxury Feature Mapping for Top Models
Table 17 Mexico – Safety and Luxury Feature Mapping for Top Models
Table 18 Germany – Safety and Luxury Feature Mapping for Top Models
Table 19 U.K. – Safety and Luxury Feature Mapping for Top Models
Table 20 France - Safety and Luxury Feature Mapping for Top Models
Table 21 China – Safety and Luxury Feature Mapping for Top Models
Table 22 India – Safety and Luxury Feature Mapping for Top Models
Table 23 Japan - Safety and Luxury Feature Mapping for Top Models
Table 24 SUV & Sub-Compact SUV Production, By Region, 2013–2020 (‘000 Units)
Table 25 SUV & Sub-Compact SUV Production, By Type, 2013–2020 (‘000 Units)
Table 26 SUV & Sub-Compact SUV Sales, By Region, 2013–2020 (‘000 Units)
Table 27 SUV & Sub-Compact SUV Sales , By Type, 2013–2020 (‘000 Units)
Table 28 North America: SUV & Sub-Compact SUV Production & Sales, By Country, 2013–2020 (‘000 Units)
Table 29 North America: SUV & Sub-Compact SUV Production & Sales , By Type, 2013–2020 (‘000 Units)
Table 30 Top-Selling Models in the U.S., 2014
Table 31 Top-Selling Models in Canada,  2014
Table 32 Top-Selling Models in Mexico, 2014
Table 33 Europe SUV & Sub-Compact SUV Production & Sales, By Country, 2013–2020 (‘000 Units)
Table 34 Europe SUV and Sub-Compact SUV Production & Sales, By Type, 2013–2020 (‘000 Units)
Table 35 Top-Selling Models in Germany, 2014
Table 36 Top-Selling Models in France, 2014
Table 37 Top-Selling Models in the U.K., 2014
Table 38 Top-Selling Models in Italy, 2014
Table 39 Asia-Oceania SUV and Sub-Compact SUV Production and Sales, By Country, 2013–2020 (‘000 Units)
Table 40 Asia-Oceania SUV and Sub-Compact SUV Production, By Type, 2013–2020 (‘000 Units)
Table 41 Top-Selling Models in China, 2014
Table 42 Top-Selling Models in India, 2014
Table 43 Top-Selling Models in Japan, 2014
Table 44 Rest of the World SUV and Sub-Compact SUV Production & Sales, By Country, 2013–2020 (‘000 Units)
Table 45 Rest of the World SUV and Sub-Compact SUV Production & Sales, By Type, 2013–2020 (‘000 Units)
Table 46 Top-Selling Models in Brazil, 2014


List of Figures (27 Figures)

Figure 1 SUV & Sub-Compact SUV Market Segmentation
Figure 2 Research Methodology Model
Figure 3 Breakdown of Primary Interviews: By Industry, Designation, & Region
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Data Triangulation
Figure 6 Asia-Oceania Projected to Be the Largest Market, 2015–2020 (‘000 Units)
Figure 7 The Crossover Segment is Projected to Be the Largest Market, By Production, 2015 (%)
Figure 8 Asia-Oceania Projected to Lead the Global SUV Market, By Sales, 2015 (‘000 Units)
Figure 9 Crossover Segment to Lead the Global SUV Market, By Sales, 2015 (%)
Figure 10 North America: Roadmap
Figure 11 Europe Vehicle Production, 2005-2014 (Million Units)
Figure 12 Europe: Roadmap
Figure 13 China Roadmap
Figure 14 India Roadmap
Figure 15 Japan: Roadmap
Figure 16 SUV Sales vs Per Capita Income, 2014
Figure 17 SUV Sales vs Population, 2014
Figure 18 SUV Sales vs Employment-Population Ratio, 2014
Figure 19 SUV Sales vs Median Age, 2014
Figure 20 Average Carbon Steel Prices, 2014-2015 (USD/Ton)
Figure 21 Global Copper Prices, 2014-2015 (USD/MMT)
Figure 22 Global Aluminum Prices, 2014-2015, (USD/MMT)
Figure 23 Global Average Crude Oil Prices2014-2015 (USD/BBL)
Figure 24 SUV & Sub-Compact SUV Production, By Region, 2013–2020 (‘000 Units)
Figure 25 SUV & Sub-Compact SUV Production, By Type, 2013–2020 (‘000 Units)
Figure 26 SUV & Sub-Compact SUV Sales, By Region, 2013–2020 (‘000 Units)
Figure 27 SUV & Sub-Compact SUV Sales, By Type, 2013–2020 (‘000 Units)

The SUV & sub-compact SUV market in terms of production, is projected to reach 30.2 Million units by 2020, growing at a CAGR of 5.36%. The SUV & sub-compact SUV market has witnessed considerable growth in countries such as the U.S., China, India, and Mexico, owing to the low cost, compact size, stylistic design, and better maneuverability, among others.

The growth of sub-compact SUVs is linked to the growth of the SUV and its crossovers, which have been gaining momentum since 2010. Within the SUV segment, crossovers have performed exceptionally well on a global scale. Sub-compact SUVs, being new entrants in the global market, have performed more successfully in Europe than in other regions. Sales of sub-compact SUVs almost doubled in 2015from the 2013 levels. France, Italy, and the U.K. generate high demand for these vehicles. Meanwhile, the MPV market has witnessed steady growth in Europe and Asia-Oceania.

Asia-Oceania is projected to grow at the highest CAGR during the forecast period, as a result of availability of economical domestic resources like labour, land and raw materials, strong government support, and emerging economies in the region, which are expected to boost growth, especially in countries such as China and India. Several OEMs are investing in the region, prompted by factors such as the expanding middle class and the youth demographic. SUVs & sub-compact SUV production is expected to grow in countries such as China and India, owing to availability of cost-effective labor and favorable government policies. For instance, the Government of India has allowed 100% foreign direct investment (FDI) with no minimum investment criteria for the automotive sector. The region houses OEMs such as Toyota (Japan), Hyundai Motor Company (South Korea), and Honda Motor Company (Japan). Additionally, certain countries in Asia-Oceania, such as South Korea and Japan, have strong technological capabilities.

The growth of the sub-compact SUV market is mainly owing to the mixture of advantages that this segment offers. For instance, features such as small engines and hence, better fuel efficiency as compared to passenger cars, compact body (as compared to SUVs) and excise duty rebate for this vehicle segment in a majority of the countries. In India, sub-4 meter vehicles attract 8 per cent excise duty as compared to 27 per cent for vehicles that are over 4 meters in length. The sub-compact SUV segment also resembles the SUV segment in terms of unibody construction, high ground clearance, high H-point among others. The Nissan Juke and Mini Countryman are key examples of unibody construction.

SUV Market Trend Analysis

The buying behavior and consumer preferences could adversely affect the SUV & sub-compact SUV market. The main challenge faced by OEMs is when fuel prices rise. Since most of the SUVs have a lower fuel efficiency, it affects the buying preference of the end-users, as they would prefer buying a small or compact car which would provide a better fuel efficiency. The increase in raw material prices is also one of the biggest constraints for automobile manufacturers, as it is generally difficult to pass the full extent of increased prices for manufactured components and raw materials onto customers, in the form of price increases. Even if passed on to some extent, the recovery is typically on a delayed basis.

The SUV and sub-compact SUV market is dominated by globally established companies, such as Ford Motor Company (U.S.), Toyota Motor Corporation (Japan), Honda Motor Co., Ltd.(Japan), Hyundai Motor Company (South Korea), and General Motors (U.S.). These companies have constantly adopted growth strategies such as new product development, expansions, mergers, and joint ventures to gain traction in the sub-compact SUV market.

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