The luxury suv market is forecasted to grow by USD 38 bn during 2024-2029, accelerating at a CAGR of 11.8% during the forecast period. The report on the luxury suv market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increased preference for safety and comfort driving sales of luxury suvs, rise in hnwi population preferring luxury suvs, and rising preference for suv model vehicles.
Market Scope
Base Year
2025
End Year
2029
Series Year
2025-2029
Growth Momentum
Accelerate
YOY 2025
10.6%
CAGR
11.8%
Incremental Value
$38 bn
Technavio's luxury suv market is segmented as below:
By Application
Individual
Commercial
By Type
Mid-size luxury SUVs
Full-size luxury SUVs
By Geographical Landscape
North America
APAC
Europe
South America
Middle East and Africa
This study identifies the rapid development of electric luxury vehicles as one of the prime reasons driving the luxury suv market growth during the next few years. Also, introduction of new luxury vehicle segments by manufacturers and increased technological updates within luxury suvs to beat competition will lead to sizable demand in the market.
The report on the luxury suv market covers the following areas:
Luxury SUV Market sizing
Luxury SUV Market forecast
Luxury SUV Market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading luxury suv market vendors that include AB Volvo, ACURA, Bayerische Motoren Werke AG, BYD Co. Ltd., Cadillac, China FAW Group Co. Ltd., Ford Motor Co., Hyundai Motor Co., Jaguar Land Rover Ltd., Mahindra and Mahindra Ltd., Mazda Motor Corp., Mercedes Benz Group AG, Mitsubishi Corp., Nissan Motor Co. Ltd., Renault SAS, SAIC Motor Corp. Ltd., Tesla Inc., Toyota Motor Corp., and Volkswagen AG. Also, the luxury suv market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by Application
Executive Summary - Chart on Market Segmentation by Type
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Technavio Analysis
2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
2.2 Criticality of inputs and Factors of differentiation
Overview on criticality of inputs and factors of differentiation
2.3 Factors of disruption
Overview on factors of disruption
2.4 Impact of drivers and challenges
Impact of drivers and challenges in 2024 and 2029
3 Market Landscape
3.1 Market ecosystem
Parent Market
Data Table on - Parent Market
3.2 Market characteristics
Market characteristics analysis
3.3 Value chain analysis
Value chain analysis
4 Market Sizing
4.1 Market definition
Offerings of companies included in the market definition
4.2 Market segment analysis
Market segments
4.3 Market size 2024
4.4 Market outlook: Forecast for 2024-2029
Chart on Global - Market size and forecast 2024-2029 ($ billion)
Data Table on Global - Market size and forecast 2024-2029 ($ billion)
Chart on Global Market: Year-over-year growth 2024-2029 (%)
Data Table on Global Market: Year-over-year growth 2024-2029 (%)
5 Historic Market Size
5.1 Global Luxury SUV Market 2019 - 2023
Historic Market Size - Data Table on Global Luxury SUV Market 2019 - 2023 ($ billion)