How Big is the SUV Market | Forecast & Growth Analysis 2031

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Code: MTA9163

Publication Date: Sep 2025

How Big is the SUV Market?

According to 6Wresearch internal database and industry insights, the Global SUV Market was valued at USD 888 Billion in 2024 and is expected to reach USD 1315 Billion by 2031, growing at a compound annual growth rate of 12.30% during the forecast period (2025-2031).

Growing consumer preference for SUVs and rising disposable income with the need for premium and fuel-efficient models, and technological developments in safety and comfort features are the main factors driving the market.

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Key Growth Drivers of the SUV Market

The demand from consumers for premium, mid-size, and small SUVs
Growing expenditures on cutting-edge infotainment and safety systems
Growing popularity of SUV models that are electric and hybrid
Technological advancements in engine performance and fuel economy
Government policies that support clean mobility and emission standards

SUV Market Trends

SUV Market is seeing a major growth with notable trends such as increasing adoption of hybrid and electric SUVs. The demand for connected vehicles with advanced infotainment and driver-assist systems is rising. Lightweight materials and aerodynamic designs are being used to improve fuel efficiency. Luxury and premium SUV models are gaining popularity among urban consumers. Compact SUVs are being introduced by manufacturers to meet the demands of city driving. SUVs are increasingly integrating smart and autonomous features. The market is expanding due to consumer focus on comfort, safety, and cutting-edge technological features.

Emerging Developments in the SUV Market

SUV Market is increasing with advancements in electric powertrains and hybrid propulsion technologies. R&D in battery efficiency and long-range electric SUVs is ongoing. Technology companies and automakers are increasingly working together to develop connected and autonomous SUVs. The market is expanding as a result of the expansion of electric SUV charging infrastructure. The number of new product launches aimed at emerging markets is increasing. Performance is being improved by advancements in fuel-efficient engines and lightweight materials. Businesses are concentrating on environmentally friendly and sustainable production methods. The market is still expanding due to rising customer demand for upscale features and personalization choices.