Small SUVs Market Analysis, Size And Growth Factors By 2028

Small SUVs Market Growth & Trends

The global small SUVs market size is expected to reach USD 564.1 billion by 2028, registering a CAGR of 0.3% over the forecast period, according to a new report by Grand View Research, Inc. The growing demand for small SUVs is mainly attributed to the rising popularity among young adults pertaining to the characteristics that it combines the elements of on-road passenger cars and off-road sturdy vehicles. Higher ground clearance, higher seating position, and large space is supporting the popularity of small SUVs. Technological developments in lightweight materials and electric and hybrid engine areas are expected to further fuel the industrial growth. For instance, Mazda Motor Corporation developed lightweight small SUV with a striking exterior, increased fuel efficiency, and an enjoyable driving experience. The lightweight body of the small SUV provides solid agility which lacks in other heavy frame.

U.S. small SUVs market size, by fuel type, 2019 - 2028 (USD Billion)

Small SUVs Market Report Segmentation

Grand View Research has segmented the small SUVs market on the basis of fuel type, and region.

Based on the Fuel Type Insights, the market is segmented into Petrol, Diesel, Electric, Others.

  • In the global small SUVs market, the petrol segment of fuel type dominated market revenue share in 2021. Petrol segment recorded over 45% market share in 2021 in the global small SUVs. Compared to the other fuel-based small SUVs, petrol-based small SUVs are mainstream and widely available. Many companies have stopped producing diesel-based cars hence producing petrol-based cars in massive numbers. Easy maintenance, better fuel efficiency, easy aftersales services, availability of spare parts, and large product offerings are attributed to the higher market share of petrol segment in the global market over the years.
  • In the global small SUVs market, the electric segment has also witnessed exponential adoption. Electric segment is anticipated to register a CAGR of 5.5% from 2022 to 2028. Depleting petroleum-based fuel, increasing greenhouse gas emission levels, and global warming is encouraging car manufacturer and consumers to opt for clean and emission-free fuel alternatives such as electric vehicles. Furthermore, government initiatives to accelerate the infrastructure and facilities for the production and adoption of electric vehicles is propelling the segment growth over the forecast period.

Small SUVs Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

Market Share Insights

  • May 2021: Fisker Inc., an electric car startup partnered with Foxconn Technology Group to co-develop and manufacture a new electric vehicle.

Key Companies Profile & Market Share Insights

The market is significantly concentrated by global players who play a vital role in the global small SUVs market. These key players are focused on continuous research and developments and product launches to drive sales and maintain their share in the global market.

Some of the prominent players operating in the global small SUVs market include,

  • Stellantis NV
  • Toyota Motor
  • Renault
  • Volkswagen
  • Hyundai Motor Company
  • Volvo Car Corporation
  • Suzuki Motor Corporation
  • General Motors
  • Ford Motor Company
  • BMW Group
  • Peugeot S.A.
  • Geely

Order a free sample PDF of the Small SUVs Market Intelligence Study, published by Grand View Research.

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