Asia Pacific Luxury Suv Market Size & Outlook, 2023-2030
Asia Pacific Luxury Suv Market, 2018-2030 (US$M)
Asia Pacific luxury suv market highlights
- The Asia Pacific luxury suv market generated a revenue of USD 79,373.8 million in 2023.
- The market is expected to grow at a CAGR of 12.7% from 2024 to 2030.
- In terms of segment, compact was the largest revenue generating vehicle type in 2023.
- Compact is the most lucrative vehicle type segment registering the fastest growth during the forecast period.
Asia Pacific data book summary
| Market revenue in 2023 | USD 79,373.8 million |
| Market revenue in 2030 | USD 183,653.8 million |
| Growth rate | 12.7% (CAGR from 2024 to 2030) |
| Largest segment | Compact |
| Fastest growing segment | Compact |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Compact |
| Key market players worldwide | Volvo AB ADR, Tata Motors, Volkswagen AG, Mercedes-Benz Group AG, Isuzu Motors, Aston Martin, Toyota Motor Corp, Bayerische Motoren Werke AG ADR, Nissan Motor Co Ltd, General Motors Co |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 46.2% of the global luxury suv market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 236,856.8 million by 2030.
The Asia Pacific luxury SUV market holds significant importance in the global automotive landscape, driven by rapid urbanization and a burgeoning middle class with increasing disposable income. Countries like China, Japan, and India are witnessing a surge in demand for luxury vehicles, particularly SUVs, which are favored for their spaciousness, versatility, and perceived status.
This market's growth is further supported by the expansion of premium automotive brands and local manufacturers introducing high-end models tailored to regional tastes. Additionally, the region's rising focus on advanced technology, safety features, and eco-friendly options, such as hybrid and electric SUVs, aligns with the global shift toward sustainable mobility.
No credit card required*
Publish Date: Jul 22, 2024
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Three ways to get this data
Subscribe to the databook, customize it, or ask a question.Horizon Databook
Unlock every chart on this page and get dashboard access
- Statistics1.2M+ across all markets
- Databooks30K+ global, 120K+ country
- Companies200K+ profiles
- ExportPDF, Dashboard, XLS & PNG, licensed to cite
Customize it
Customize data as per your requirement
- AddCountries, segments, years
- RecutTo your product definition
- ExtendCompany-level detail
- OrA bespoke databook
- Turnaround5–10 working days
Ask Prism AI
A cited answer in seconds
- Corpus30,000 studies, 1.2M points
- ScopeAll markets, not just this
- CitationTraced to report & table
- HonestySays "not covered" if so
- SpeedSeconds, not days
Luxury SUV Market Scope
Luxury SUV Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Volvo AB ADR | View profile | 104,905 | Gropegardsgatan 2, Gothenburg, Sweden, 417 15 | www.volvogroup.com |
| Toyota Motor Corp | View profile | 380,793 | 1 Toyota-cho, Aichi Prefecture, Toyota, Japan, 471-8571 | www.global.toyota |
| Volkswagen AG | View profile | 656,134 | Berliner Ring 2, Wolfsburg, NI, Germany, 38440 | www.volkswagenag.com |
| General Motors Co | View profile | 163,000 | 300 Renaissance Center, Detroit, MI, United States, 48265-3000 | www.gm.com |
| Bayerische Motoren Werke AG ADR | View profile | 154,950 | Petuelring 130, Munich, BY, Germany, 80809 | www.bmwgroup.com |
| Mercedes-Benz Group AG | View profile | 166,056 | Mercedesstrasse 120, Stuttgart, BW, Germany, 70372 | www.daimler.com |
| Nissan Motor Co Ltd | View profile | 147,116 | 1-1, Takashima 1-chome, Nishi-ku, Yokohama-shi, Kanagawa, Japan, 220-8686 | www.nissan-global.com |
| Tata Motors | View profile | 10001+ | Mumbai, Maharashtra, India, Asia | www.tatamotors.com |
| Aston Martin | View profile | 1001-5000 | Gaydon, Warwickshire, United Kingdom, Europe | www.astonmartin.com |
| Isuzu Motors | View profile | 251-500 | Anaheim, California, United States, North America | www.isuzu.com/ |
Asia Pacific Luxury SUV Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Luxury SUV Market Outlook will help companies and investors design strategic landscapes.
Compact was the largest segment with a revenue share of 100.0% in 2023.
Horizon Databook has segmented the Asia Pacific luxury suv market based on compact covering the revenue growth of each sub-segment from 2018 to 2030.
The Asia Pacific luxury SUV market holds significant importance in the global automotive landscape, driven by rapid urbanization and a burgeoning middle class with increasing disposable income. Countries like China, Japan, and India are witnessing a surge in demand for luxury vehicles, particularly SUVs, which are favored for their spaciousness, versatility, and perceived status.
This market's growth is further supported by the expansion of premium automotive brands and local manufacturers introducing high-end models tailored to regional tastes. Additionally, the region's rising focus on advanced technology, safety features, and eco-friendly options, such as hybrid and electric SUVs, aligns with the global shift toward sustainable mobility.
- Asia Pacific Luxury Suv Market Vehicle Type Outlook (Revenue, USD Million , 2018-2030)
- Compact
- Mid Size
- Full Size
- Asia Pacific Luxury Suv Market Propulsion Type Outlook (Revenue, USD Million , 2018-2030)
- ICE
- Electric
Reasons to subscribe to Luxury SUV Market Outlook databook
- Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
- Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
- Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
- Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
- Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of Luxury SUV Market Outlook databook
- Our clientele includes a mix of Luxury SUV Market Outlook companies, investment firms, advisory firms & academic institutions.
- 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
- Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
- The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific Luxury SUV Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific Luxury SUV Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.