Press Release

Asia Pacific SUV Market to Surpass $ 716 Billion by 2023

Expanding product portfolio, technological advancements, and growing preference for sports utility vehicles (SUVs) owing to their off-roading capabilities, drive versatility, and top-of-the-line safety features to drive Asia-Pacific SUV market through 2023 

According to TechSci Research report, Asia-Pacific SUV Market By Length, By Engine Capacity, By Fuel Type, By Country, Competition Forecast & Opportunities, 2013 – 2023”, SUV market in the region is projected to cross $ 716 billion by the end of 2023, backed by growing technological advancements in SUV manufacturing processes enabling automakers to offer SUVs at affordable prices. Moreover, increasing adoption of hybrid and electric SUVs, growing preference for compact SUVs, and availability of financing options are anticipated to positively influence the Asia-Pacific SUV market during forecast period. Emerging economies in the region and rising popularity of off-roading activities would further fuel the region’s SUV market. 

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On the basis of length, SUV-C segment dominated the Asia-Pacific SUV market in 2017 and the trend is anticipated to continue in the coming years as well, as demand for compact SUVs is growing at a brisk pace across the region, owing to the economical pricing. China SUV market is the largest in the region, on the back of huge population and increasing enthusiasm of the Chinese people towards SUVs. During the forecast period, China is anticipated to maintain its dominance in the region’s SUV market, on account of increasing disposable income and rising preference for off-roading activities.

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“Growing focus of the automakers towards manufacturing high engine capacity vehicles with advanced safety and infotainment systems, coupled with inclination of car manufacturers towards compact SUVs is anticipated to have a positive impact on the Asia-Pacific SUV market during the forecast period. Increasing demand for performance vehicles and comfortable ride experience is expected to provide lucrative opportunities to SUV companies in the region over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm..

Asia-Pacific SUV Market By Length, By Engine Capacity, By Fuel Type, By Country, Competition Forecast & Opportunities, 2013 – 2023 has analyzed the potential of SUV market across the region, and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the Asia-Pacific SUV market.


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Relevant Reports

Asia-Pacific SUV Market By Length (SUV-C, SUV-D, SUV-E and SUV-F), By Engine Capacity, By Fuel Type (Diesel, Petrol and Hybrid & Others), By Country (China, India, Japan, Australia and Others), Competition Forecast & Opportunities, 2013 – 2023

Automotive | Sep, 2018

Expanding product portfolio, technological advancements, and growing preference for sports utility vehicles (SUVs) owing to their off-roading capabilities, drive versatility, and top-of-the-line safety features to drive Asia-Pacific SUV market through 2023

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