Large SUVs Market size is expected to reach USD 334.3 billion by 2028
Large SUVs Industry Overview The global large SUVs market size was valued at USD 322.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 0.5% from 2022 to 2028. The market is majorly driven by the increasing demand from the Middle East and Europe, attributed to the rising popularity of the sports utility vehicles, which is outpacing the others. The popularity of large SUVs is attributed to their properties, such as the look of a car and the functionality and power of the utility vehicle, over other passenger cars. It offers more capacity, and a higher vantage point for drivers due to higher seating, attractive styles, and connected features like passenger cars. Budding market demand for large SUVs in China is also contributing to the global market growth. Furthermore, frequent launches of large SUVs by manufacturers are fueling the market growth. For instance, Volkswagen launched Touareg R in October 2020 which comes with a plug-in hyb...