Large SUVs Market to Grow at 9.7% CAGR from 2025-2029

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The Business Research Company’s Large SUVs Global Market Report 2025 - Market Size, Trends, And Global Forecast 2025-2034

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What Is The Large SUVs Market Size And Growth?
The market size for large SUVs has seen a robust expansion in the past few years. It is projected to rise from $439.01 billion in 2024 to $473.44 billion in 2025, with a compound annual growth rate (CAGR) of 7.8%. Factors such as consumer preferences, safety and versatility, towing capability, all-wheel drive and off-road competence, as well as luxury and comfort, contributed to the growth during the historical period.

The market size for large SUVs is anticipated to observe robust growth over the coming years, expanding to $686.58 billion by 2029, with a compound annual growth rate (CAGR) of 9.7%. Factors contributing to the predicted growth during this period include regulatory emissions standards, fuel efficiency, environmental considerations, electrification, growth potential in emerging economies, customization and personalization, along with ride comfort and interior space considerations. The major trends during the forecasted period are set to encompass advanced driver assistance systems (ADAS), connectivity and infotainment, off-road flexibility, heightened safety measures, and an increased focus on hybridization and electrification.

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What Are The Current Leading Growth Drivers For Large SUVs Market?
The Increasing Trend of Sports Utility Vehicles and Its Effect on the Large SUV Market

Which Companies Are Currently Leading In The Large SUVs Market?
Major players in the Large SUVs include:
• Stellantis NV
• Toyota Motor Corporation
• Volkswagen AG
• Hyundai Motor Company
• Ford Motor Company
• General Motors Company
• Nissan Motor Corporation
• Kia Corporation
• Mercedes-Benz
• Bayerische Motoren Werke AG

What Are The Main Trends, Positively Impacting The Growth Of Large SUVs Market?
A key trend emerging in the large SUVs market is product innovation. Big companies in the sector are launching new products to solidify their place in the market. For example, Wuling Motors, an automotive company based in China, rolled out its latest product line, Alvez, in May 2023. The unveiling took place at the Wuling expo held at Big Mall Samarinda, where customers were given an initial tour of Alvez's appealing design and innovative features.

How Is The Large SUVs Market Segmented?
The large suvsmarket covered in this report is segmented –

1) By Fuel Type: Petrol, Diesel, Electric, Other Fuel Types
2) By Type: Sub-Compact SUV, Crossover, MPV, Other SUVs
3) By Price Range: Medium, Premium

Subsegments:
1) By Petrol: Naturally Aspirated Petrol, Turbocharged Petrol
2) By Diesel: Standard Diesel, Turbocharged Diesel
3) By Electric: Battery Electric Vehicles (BEV), Plug-In Hybrid Electric Vehicles (PHEV)
4) By Other Fuel Types: Hybrid (Petrol-Diesel), Hydrogen Fuel Cell, Compressed Natural Gas (CNG)

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Which Is The Dominating Region For The Large SUVs Market?
In 2024, North America dominated the large SUVs market. Europe is projected to see the quickest growth in the coming years. The report encompasses large SUV markets in regions including Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.

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