Peru Tire Market By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two Wheelers, Three Wheelers, OTR), By Tire Construction Type (Radial, Bias), By Demand Category Type (OEM, Replacement), By Region, Competition, Forecast & Opportunities, 2018-2028
North America SUV Market has valued at USD 280 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 7.68%. The North American SUV market has experienced significant growth in recent years. This growth can be attributed to the rising consumer preference for spacious and versatile vehicles equipped with advanced safety features. As consumers prioritize comfort, convenience, and safety, automakers have responded by introducing a wide range of SUV models tailored to meet these demands.
Within the region, comprising the United States, Canada, and Mexico, there has been a remarkable uptick in SUV sales. Among the different types of SUVs available, compact SUVs have garnered the highest demand due to their impressive fuel efficiency and cost-effectiveness. These compact SUVs offer the perfect balance between size and functionality, making them ideal for urban environments where space is a premium.
Moreover, the market landscape has been reshaped by the advent of electric SUVs, which provide an eco-friendly alternative to traditional models. With the growing concern for the environment, electric SUVs have gained traction among environmentally conscious consumers who seek sustainable transportation options. The ability to reduce carbon emissions while enjoying the benefits of an SUV has made electric SUVs an attractive choice for many.
The popularity of electric SUVs is further fueled by continuous advancements in battery technology and the expansion of charging infrastructure. As electric vehicles become more accessible and efficient, the barriers to adoption are gradually being overcome. This, in turn, is expected to drive the demand for electric SUVs even higher in the coming years.
Market predictions indicate that the North American SUV market will continue to grow, with a strong focus on sustainability and technological innovation. As automakers strive to meet these evolving consumer preferences, we can expect to see more innovative features and cutting-edge technologies integrated into SUVs in the near future. From advanced driver assistance systems to seamless connectivity options, SUVs are becoming more than just vehicles; they are becoming smart, intuitive companions for the modern driver.
In summary, the North American SUV market is experiencing a transformative period, with a shift towards spacious, versatile, and environmentally friendly vehicles. As consumers increasingly prioritize comfort, safety, and sustainability, automakers are rising to the challenge, offering a diverse range of SUV models to meet these demands. With the continuous evolution of technology and a growing emphasis on environmental responsibility, the future of SUVs looks promising, with exciting advancements on the horizon.
Key Market Drivers
Consumer Preference for Versatile Vehicles
A significant driver of the North America SUV market is the strong consumer preference for versatile vehicles. SUVs offer a combination of spacious interiors, comfortable seating, and ample cargo capacity, making them ideal for a wide range of activities and lifestyles. Whether it's for family transportation, outdoor adventures, or daily commuting, SUVs have become the go-to choice for many North American consumers due to their flexibility and adaptability. With their ability to accommodate growing families, provide ample storage space for road trips, and offer a smooth and comfortable ride, SUVs have captured the hearts of individuals seeking convenience and versatility in their vehicles. Moreover, the advancements in SUV technology and design have further enhanced their appeal, with features such as advanced safety systems, fuel efficiency, and luxurious interiors, making SUVs a compelling choice for those seeking both practicality and style. As a result, the North America SUV market continues to thrive, catering to the ever-evolving needs and preferences of consumers across the region.
Growing Demand for Crossover SUVs
Crossover SUVs, a subsegment of the SUV market, have experienced remarkable growth in North America. These vehicles combine the practicality of traditional SUVs with the drivability and fuel efficiency of smaller cars. The versatility of crossovers has resonated with consumers seeking a balance between space and maneuverability, especially in urban environments. As a result, automakers have increasingly focused on expanding their crossover SUV offerings to meet the rising demand.
Shift Away from Sedans
The decline in popularity of traditional sedans has been a notable driver for the SUV market in North America. Many consumers have shifted their preferences from sedans to SUVs due to the latter's higher seating position, improved visibility, and overall sense of security. Automakers have adapted to this trend by reducing sedan production and investing more in SUV development, thereby expanding the SUV market.
Strong Consumer Demand for Safety and Technology
Safety features and advanced technology have become key drivers in the North American SUV market. Consumers place a high emphasis on safety when choosing a vehicle, and SUVs often come equipped with advanced safety systems, such as collision avoidance, adaptive cruise control, and lane-keeping assist. Additionally, consumers expect the latest connectivity and infotainment features in their vehicles. SUVs have responded to this demand by offering cutting-edge technology, attracting buyers looking for both safety and convenience.
Economic Prosperity and Low Fuel Prices
Favorable economic conditions and relatively low fuel prices in North America have bolstered the SUV market. When consumers have confidence in their economic well-being and face lower fuel costs, they are more inclined to choose larger, more fuel-intensive vehicles like SUVs. Economic prosperity has allowed a wider range of consumers to afford SUVs, from families seeking spacious vehicles to individuals desiring more luxurious options.
SUVs as Family Vehicles
SUVs have increasingly become the vehicle of choice for families in North America. The spacious interiors, multiple seating configurations, and ample cargo space make SUVs ideal for accommodating families and their varied needs. The perception of SUVs as safe and versatile family vehicles has driven demand, and automakers have responded by designing models tailored to family lifestyles, including three-row SUVs and hybrid options.
Key Market Challenges
Fuel Efficiency and Emissions Regulations
One of the primary challenges facing the North America SUV market is the need to meet stringent fuel efficiency and emissions regulations. As environmental consciousness grows and governments implement stricter standards to combat climate change, automakers are faced with the task of developing SUVs that are not only fuel-efficient but also eco-friendly. This requires extensive research and development to explore innovative technologies such as hybrid powertrains, lightweight materials, and aerodynamic designs.
Large SUVs often consume more fuel and emit more greenhouse gases compared to smaller vehicles, which puts them under increased scrutiny. To address these concerns, automakers are investing in advanced engineering and design strategies to improve the fuel efficiency of SUVs without compromising their performance or utility. This includes optimizing engine performance, implementing start-stop technology, and utilizing regenerative braking systems.
Furthermore, automakers are also exploring alternative fuel options, such as electric and hydrogen-powered SUVs, to reduce the carbon footprint of these vehicles. These technologies offer the potential for zero-emissions driving and can significantly contribute to reducing greenhouse gas emissions in the transportation sector.
Achieving compliance with regulations while maintaining the appeal of SUVs is a complex balancing act for automakers. They must strike a delicate balance between meeting the demands of consumers for spaciousness, versatility, and off-road capabilities, while also addressing the growing concerns about environmental impact. This requires continuous innovation and collaboration between automakers, suppliers, and regulatory bodies to develop and implement sustainable solutions for the SUV market.
In conclusion, the challenges faced by the North America SUV market in meeting fuel efficiency and emissions regulations are driving automakers to push the boundaries of technology and design. By embracing innovation and adopting eco-friendly practices, the industry can create a new generation of SUVs that not only meet regulatory requirements but also contribute to a more sustainable future.
Escalating Fuel Prices
The fluctuation of fuel prices is a perpetual concern for SUV owners and potential buyers. SUVs, particularly larger models, are known for their relatively lower fuel efficiency. When fuel prices rise significantly, consumers may reconsider purchasing or retaining these vehicles due to higher operating costs. Escalating fuel prices can affect both sales and resale values of SUVs, impacting the overall market dynamics.
Competition from Electric Vehicles (EVs)
The rise of electric vehicles (EVs) poses a formidable challenge to the traditional SUV market in North America. EVs offer zero-emission driving and are seen as more environmentally friendly options. As EV infrastructure continues to develop and battery technology advances, consumers may increasingly opt for electric SUVs over their conventional counterparts. The SUV market faces the challenge of adapting to this shift in consumer preferences and developing competitive electric SUV offerings.
Supply Chain Disruptions
Recent disruptions in global supply chains have reverberated through the automotive industry, affecting the production and availability of SUVs in North America. Factors such as the COVID-19 pandemic and semiconductor shortages have led to production delays and constrained inventory levels. These disruptions can impact the market by limiting consumer choice and potentially increasing prices, making it challenging for both automakers and consumers to navigate.
Consumer Perception of Safety
While SUVs are often perceived as safer due to their size and elevated driving position, there is a growing concern about the safety of these vehicles, particularly in rollover accidents. The higher center of gravity in SUVs can make them more prone to rollovers in certain situations. Negative perceptions of safety risks associated with SUVs can affect consumer choices and may lead to increased scrutiny from safety regulators. Automakers must address these concerns and invest in safety features to maintain consumer confidence.
Key Market Trends
Rise of Compact and Subcompact SUVs
One of the most notable trends in the North America SUV market is the increasing popularity of compact and subcompact SUVs. These smaller SUVs offer a balance between the practicality of larger SUVs and the maneuverability of smaller cars. They are well-suited for urban environments where tight parking spaces and congested streets are common. Automakers have responded to this trend by introducing a wide range of compact and subcompact SUV models, catering to consumers who seek versatility and efficiency without compromising on space and utility.
Expanding Hybrid and Electric SUV Offerings
Environmental concerns and a shift toward sustainable transportation have driven the growth of hybrid and electric SUVs in North America. Automakers are investing heavily in electrification, offering SUV models with hybrid, plug-in hybrid, and all-electric powertrains. These vehicles provide consumers with options to reduce their carbon footprint while enjoying the benefits of SUV ownership. As charging infrastructure continues to expand, the adoption of electric SUVs is expected to rise further, making them a significant trend in the market.
Tech-Savvy SUVs with Advanced Connectivity
Connectivity and technology have become central to the North America SUV market. Consumers expect their vehicles to offer seamless integration with smartphones, advanced infotainment systems, and connectivity features like Apple CarPlay and Android Auto. Automakers are equipping SUVs with touchscreen displays, voice recognition, navigation systems, and smart home integration. As technology evolves, SUVs will continue to offer increasingly sophisticated connectivity options, enhancing the driving experience and convenience for consumers.
Safety Features and Driver-Assistance Systems
Safety remains a top priority for consumers in the North America SUV market. SUVs are equipped with an array of advanced safety features and driver-assistance systems, including adaptive cruise control, lane-keeping assist, automatic emergency braking, blind-spot monitoring, and pedestrian detection. These technologies enhance passenger protection and contribute to the overall appeal of SUVs. As safety regulations and consumer expectations continue to evolve, automakers will continue to invest in enhancing SUV safety features.
Customization and Personalization Options
Consumers in North America are increasingly seeking personalized and customizable SUV options. Automakers are responding by offering a wide range of trim levels, packages, and customization options, allowing buyers to tailor their SUVs to their specific preferences. From interior materials and color schemes to technology packages and performance enhancements, the trend toward personalization ensures that SUVs can cater to a diverse range of consumer tastes and requirements.
Luxury SUV Segment Growth
The luxury SUV segment has experienced substantial growth in North America. Consumers are gravitating toward premium and high-end SUV models that offer a combination of style, performance, and advanced features. Luxury SUVs often come equipped with the latest technology, opulent interiors, and powerful engines. These vehicles cater to consumers who seek a premium driving experience and are willing to invest in a higher level of comfort and prestige. The luxury SUV trend underscores the desire for both practicality and luxury among North American consumers.
Segmental Insights
Fuel Type Insights
Fuel type plays a critical role in defining the SUV market in North America. Currently, the majority of SUVs on the road are powered by gasoline, thanks to its wide availability, lower costs, and the robust infrastructure supporting its distribution. However, in recent years, there has been a noticeable shift towards more sustainable alternatives, such as hybrid and electric SUVs. This shift is driven by a growing environmental awareness and a desire to reduce carbon emissions.
Hybrid SUVs, for example, combine a gasoline engine with an electric motor, allowing for improved fuel efficiency and reduced environmental impact. These vehicles utilize regenerative braking technology, which converts kinetic energy into electric energy that can be stored in the battery and used later. This not only saves fuel but also reduces greenhouse gas emissions.
On the other hand, electric SUVs are entirely powered by electricity, with no tailpipe emissions. They rely on advanced battery technology, which has seen significant advancements in recent years. These vehicles offer not only zero emissions but also a smooth and quiet driving experience. Additionally, the availability of charging stations and government incentives promoting cleaner energy have contributed to the growing popularity of electric SUVs.
In conclusion, while gasoline-powered SUVs still dominate the market, the rise of hybrid and electric SUVs reflects a broader shift towards more sustainable transportation options. This shift is fueled by increasing environmental awareness, advancements in battery technology, and government initiatives aimed at reducing carbon emissions. As we look to the future, it is clear that eco-friendly choices will continue to shape the SUV market in North America.
Transmission Type Insights
In the North America SUV market, the automatic transmission type continues to dominate due to preference for convenience and ease of use. While manual transmissions were once lauded for their greater control and fuel efficiency, advances in automatic transmission technology have largely bridged this gap. Moreover, the increasing adoption of electric and hybrid SUVs, which typically utilize automatic transmissions, further underpins this trend. Despite this, a niche market for manual SUVs persists, sustained by enthusiasts and drivers who value the engagement and control this transmission type offers.
Regional Insights
In North America, particularly the United States, the dominance of the global SUV market continues to persist. This can be attributed to a strong consumer preference for larger, more comfortable vehicles, which aligns with the region's robust economy and higher disposable income levels. The advanced infrastructure in North America further supports the popularity of SUVs, making them a practical choice for both urban and rural areas.
American automakers, including General Motors, Ford, and Fiat Chrysler, have been capitalizing on this trend and have experienced substantial sales growth in their SUV segments. This not only reinforces North America's leading position in the SUV market but also highlights the strong foothold of these automakers in the industry.
However, it is important to note that the regional SUV landscape may face challenges in the future. Changing fuel economy standards and the rising popularity of electric vehicles are two key factors that could potentially reshape the market. As environmental concerns become more prominent and consumers seek more sustainable transportation options, the demand for SUVs might evolve. It will be interesting to see how the industry adapts and innovates to meet these changing dynamics while maintaining its stronghold in North America.
Key Market Players
Ford Motor Company
General Motors
AUDI AG
Kia Motors Corporation
Groupe Renault
Groupe PSA
SAIC Motor Corporation Limited
Daimler AG
BMW AG
Mahindra & Mahindra Limited
Report Scope:
In this report, the North America SUV Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in the North America SUV Market.
Available Customizations:
North America SUV Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
Within the region, comprising the United States, Canada, and Mexico, there has been a remarkable uptick in SUV sales. Among the different types of SUVs available, compact SUVs have garnered the highest demand due to their impressive fuel efficiency and cost-effectiveness. These compact SUVs offer the perfect balance between size and functionality, making them ideal for urban environments where space is a premium.
Moreover, the market landscape has been reshaped by the advent of electric SUVs, which provide an eco-friendly alternative to traditional models. With the growing concern for the environment, electric SUVs have gained traction among environmentally conscious consumers who seek sustainable transportation options. The ability to reduce carbon emissions while enjoying the benefits of an SUV has made electric SUVs an attractive choice for many.
The popularity of electric SUVs is further fueled by continuous advancements in battery technology and the expansion of charging infrastructure. As electric vehicles become more accessible and efficient, the barriers to adoption are gradually being overcome. This, in turn, is expected to drive the demand for electric SUVs even higher in the coming years.
Market predictions indicate that the North American SUV market will continue to grow, with a strong focus on sustainability and technological innovation. As automakers strive to meet these evolving consumer preferences, we can expect to see more innovative features and cutting-edge technologies integrated into SUVs in the near future. From advanced driver assistance systems to seamless connectivity options, SUVs are becoming more than just vehicles; they are becoming smart, intuitive companions for the modern driver.
In summary, the North American SUV market is experiencing a transformative period, with a shift towards spacious, versatile, and environmentally friendly vehicles. As consumers increasingly prioritize comfort, safety, and sustainability, automakers are rising to the challenge, offering a diverse range of SUV models to meet these demands. With the continuous evolution of technology and a growing emphasis on environmental responsibility, the future of SUVs looks promising, with exciting advancements on the horizon.
Key Market Drivers
Consumer Preference for Versatile Vehicles
A significant driver of the North America SUV market is the strong consumer preference for versatile vehicles. SUVs offer a combination of spacious interiors, comfortable seating, and ample cargo capacity, making them ideal for a wide range of activities and lifestyles. Whether it's for family transportation, outdoor adventures, or daily commuting, SUVs have become the go-to choice for many North American consumers due to their flexibility and adaptability. With their ability to accommodate growing families, provide ample storage space for road trips, and offer a smooth and comfortable ride, SUVs have captured the hearts of individuals seeking convenience and versatility in their vehicles. Moreover, the advancements in SUV technology and design have further enhanced their appeal, with features such as advanced safety systems, fuel efficiency, and luxurious interiors, making SUVs a compelling choice for those seeking both practicality and style. As a result, the North America SUV market continues to thrive, catering to the ever-evolving needs and preferences of consumers across the region.
Growing Demand for Crossover SUVs
Crossover SUVs, a subsegment of the SUV market, have experienced remarkable growth in North America. These vehicles combine the practicality of traditional SUVs with the drivability and fuel efficiency of smaller cars. The versatility of crossovers has resonated with consumers seeking a balance between space and maneuverability, especially in urban environments. As a result, automakers have increasingly focused on expanding their crossover SUV offerings to meet the rising demand.
Shift Away from Sedans
The decline in popularity of traditional sedans has been a notable driver for the SUV market in North America. Many consumers have shifted their preferences from sedans to SUVs due to the latter's higher seating position, improved visibility, and overall sense of security. Automakers have adapted to this trend by reducing sedan production and investing more in SUV development, thereby expanding the SUV market.
Strong Consumer Demand for Safety and Technology
Safety features and advanced technology have become key drivers in the North American SUV market. Consumers place a high emphasis on safety when choosing a vehicle, and SUVs often come equipped with advanced safety systems, such as collision avoidance, adaptive cruise control, and lane-keeping assist. Additionally, consumers expect the latest connectivity and infotainment features in their vehicles. SUVs have responded to this demand by offering cutting-edge technology, attracting buyers looking for both safety and convenience.
Economic Prosperity and Low Fuel Prices
Favorable economic conditions and relatively low fuel prices in North America have bolstered the SUV market. When consumers have confidence in their economic well-being and face lower fuel costs, they are more inclined to choose larger, more fuel-intensive vehicles like SUVs. Economic prosperity has allowed a wider range of consumers to afford SUVs, from families seeking spacious vehicles to individuals desiring more luxurious options.
SUVs as Family Vehicles
SUVs have increasingly become the vehicle of choice for families in North America. The spacious interiors, multiple seating configurations, and ample cargo space make SUVs ideal for accommodating families and their varied needs. The perception of SUVs as safe and versatile family vehicles has driven demand, and automakers have responded by designing models tailored to family lifestyles, including three-row SUVs and hybrid options.
Key Market Challenges
Fuel Efficiency and Emissions Regulations
One of the primary challenges facing the North America SUV market is the need to meet stringent fuel efficiency and emissions regulations. As environmental consciousness grows and governments implement stricter standards to combat climate change, automakers are faced with the task of developing SUVs that are not only fuel-efficient but also eco-friendly. This requires extensive research and development to explore innovative technologies such as hybrid powertrains, lightweight materials, and aerodynamic designs.
Large SUVs often consume more fuel and emit more greenhouse gases compared to smaller vehicles, which puts them under increased scrutiny. To address these concerns, automakers are investing in advanced engineering and design strategies to improve the fuel efficiency of SUVs without compromising their performance or utility. This includes optimizing engine performance, implementing start-stop technology, and utilizing regenerative braking systems.
Furthermore, automakers are also exploring alternative fuel options, such as electric and hydrogen-powered SUVs, to reduce the carbon footprint of these vehicles. These technologies offer the potential for zero-emissions driving and can significantly contribute to reducing greenhouse gas emissions in the transportation sector.
Achieving compliance with regulations while maintaining the appeal of SUVs is a complex balancing act for automakers. They must strike a delicate balance between meeting the demands of consumers for spaciousness, versatility, and off-road capabilities, while also addressing the growing concerns about environmental impact. This requires continuous innovation and collaboration between automakers, suppliers, and regulatory bodies to develop and implement sustainable solutions for the SUV market.
In conclusion, the challenges faced by the North America SUV market in meeting fuel efficiency and emissions regulations are driving automakers to push the boundaries of technology and design. By embracing innovation and adopting eco-friendly practices, the industry can create a new generation of SUVs that not only meet regulatory requirements but also contribute to a more sustainable future.
Escalating Fuel Prices
The fluctuation of fuel prices is a perpetual concern for SUV owners and potential buyers. SUVs, particularly larger models, are known for their relatively lower fuel efficiency. When fuel prices rise significantly, consumers may reconsider purchasing or retaining these vehicles due to higher operating costs. Escalating fuel prices can affect both sales and resale values of SUVs, impacting the overall market dynamics.
Competition from Electric Vehicles (EVs)
The rise of electric vehicles (EVs) poses a formidable challenge to the traditional SUV market in North America. EVs offer zero-emission driving and are seen as more environmentally friendly options. As EV infrastructure continues to develop and battery technology advances, consumers may increasingly opt for electric SUVs over their conventional counterparts. The SUV market faces the challenge of adapting to this shift in consumer preferences and developing competitive electric SUV offerings.
Supply Chain Disruptions
Recent disruptions in global supply chains have reverberated through the automotive industry, affecting the production and availability of SUVs in North America. Factors such as the COVID-19 pandemic and semiconductor shortages have led to production delays and constrained inventory levels. These disruptions can impact the market by limiting consumer choice and potentially increasing prices, making it challenging for both automakers and consumers to navigate.
Consumer Perception of Safety
While SUVs are often perceived as safer due to their size and elevated driving position, there is a growing concern about the safety of these vehicles, particularly in rollover accidents. The higher center of gravity in SUVs can make them more prone to rollovers in certain situations. Negative perceptions of safety risks associated with SUVs can affect consumer choices and may lead to increased scrutiny from safety regulators. Automakers must address these concerns and invest in safety features to maintain consumer confidence.
Key Market Trends
Rise of Compact and Subcompact SUVs
One of the most notable trends in the North America SUV market is the increasing popularity of compact and subcompact SUVs. These smaller SUVs offer a balance between the practicality of larger SUVs and the maneuverability of smaller cars. They are well-suited for urban environments where tight parking spaces and congested streets are common. Automakers have responded to this trend by introducing a wide range of compact and subcompact SUV models, catering to consumers who seek versatility and efficiency without compromising on space and utility.
Expanding Hybrid and Electric SUV Offerings
Environmental concerns and a shift toward sustainable transportation have driven the growth of hybrid and electric SUVs in North America. Automakers are investing heavily in electrification, offering SUV models with hybrid, plug-in hybrid, and all-electric powertrains. These vehicles provide consumers with options to reduce their carbon footprint while enjoying the benefits of SUV ownership. As charging infrastructure continues to expand, the adoption of electric SUVs is expected to rise further, making them a significant trend in the market.
Tech-Savvy SUVs with Advanced Connectivity
Connectivity and technology have become central to the North America SUV market. Consumers expect their vehicles to offer seamless integration with smartphones, advanced infotainment systems, and connectivity features like Apple CarPlay and Android Auto. Automakers are equipping SUVs with touchscreen displays, voice recognition, navigation systems, and smart home integration. As technology evolves, SUVs will continue to offer increasingly sophisticated connectivity options, enhancing the driving experience and convenience for consumers.
Safety Features and Driver-Assistance Systems
Safety remains a top priority for consumers in the North America SUV market. SUVs are equipped with an array of advanced safety features and driver-assistance systems, including adaptive cruise control, lane-keeping assist, automatic emergency braking, blind-spot monitoring, and pedestrian detection. These technologies enhance passenger protection and contribute to the overall appeal of SUVs. As safety regulations and consumer expectations continue to evolve, automakers will continue to invest in enhancing SUV safety features.
Customization and Personalization Options
Consumers in North America are increasingly seeking personalized and customizable SUV options. Automakers are responding by offering a wide range of trim levels, packages, and customization options, allowing buyers to tailor their SUVs to their specific preferences. From interior materials and color schemes to technology packages and performance enhancements, the trend toward personalization ensures that SUVs can cater to a diverse range of consumer tastes and requirements.
Luxury SUV Segment Growth
The luxury SUV segment has experienced substantial growth in North America. Consumers are gravitating toward premium and high-end SUV models that offer a combination of style, performance, and advanced features. Luxury SUVs often come equipped with the latest technology, opulent interiors, and powerful engines. These vehicles cater to consumers who seek a premium driving experience and are willing to invest in a higher level of comfort and prestige. The luxury SUV trend underscores the desire for both practicality and luxury among North American consumers.
Segmental Insights
Fuel Type Insights
Fuel type plays a critical role in defining the SUV market in North America. Currently, the majority of SUVs on the road are powered by gasoline, thanks to its wide availability, lower costs, and the robust infrastructure supporting its distribution. However, in recent years, there has been a noticeable shift towards more sustainable alternatives, such as hybrid and electric SUVs. This shift is driven by a growing environmental awareness and a desire to reduce carbon emissions.
Hybrid SUVs, for example, combine a gasoline engine with an electric motor, allowing for improved fuel efficiency and reduced environmental impact. These vehicles utilize regenerative braking technology, which converts kinetic energy into electric energy that can be stored in the battery and used later. This not only saves fuel but also reduces greenhouse gas emissions.
On the other hand, electric SUVs are entirely powered by electricity, with no tailpipe emissions. They rely on advanced battery technology, which has seen significant advancements in recent years. These vehicles offer not only zero emissions but also a smooth and quiet driving experience. Additionally, the availability of charging stations and government incentives promoting cleaner energy have contributed to the growing popularity of electric SUVs.
In conclusion, while gasoline-powered SUVs still dominate the market, the rise of hybrid and electric SUVs reflects a broader shift towards more sustainable transportation options. This shift is fueled by increasing environmental awareness, advancements in battery technology, and government initiatives aimed at reducing carbon emissions. As we look to the future, it is clear that eco-friendly choices will continue to shape the SUV market in North America.
Transmission Type Insights
In the North America SUV market, the automatic transmission type continues to dominate due to preference for convenience and ease of use. While manual transmissions were once lauded for their greater control and fuel efficiency, advances in automatic transmission technology have largely bridged this gap. Moreover, the increasing adoption of electric and hybrid SUVs, which typically utilize automatic transmissions, further underpins this trend. Despite this, a niche market for manual SUVs persists, sustained by enthusiasts and drivers who value the engagement and control this transmission type offers.
Regional Insights
In North America, particularly the United States, the dominance of the global SUV market continues to persist. This can be attributed to a strong consumer preference for larger, more comfortable vehicles, which aligns with the region's robust economy and higher disposable income levels. The advanced infrastructure in North America further supports the popularity of SUVs, making them a practical choice for both urban and rural areas.
American automakers, including General Motors, Ford, and Fiat Chrysler, have been capitalizing on this trend and have experienced substantial sales growth in their SUV segments. This not only reinforces North America's leading position in the SUV market but also highlights the strong foothold of these automakers in the industry.
However, it is important to note that the regional SUV landscape may face challenges in the future. Changing fuel economy standards and the rising popularity of electric vehicles are two key factors that could potentially reshape the market. As environmental concerns become more prominent and consumers seek more sustainable transportation options, the demand for SUVs might evolve. It will be interesting to see how the industry adapts and innovates to meet these changing dynamics while maintaining its stronghold in North America.
Key Market Players
Ford Motor Company
General Motors
AUDI AG
Kia Motors Corporation
Groupe Renault
Groupe PSA
SAIC Motor Corporation Limited
Daimler AG
BMW AG
Mahindra & Mahindra Limited
Report Scope:
In this report, the North America SUV Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- SUV Market, By Length:
- SUV-C
- SUV-D
- SUV-E
- SUV-F
- SUV Market, By Fuel Type:
- Diesel
- Petrol
- Hybrid & Others
- SUV Market, By Transmission Type:
- Automatic
- Manual
- SUV Market, By Country:
- Canada
- United States
- Mexico
Company Profiles: Detailed analysis of the major companies present in the North America SUV Market.
Available Customizations:
North America SUV Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. INTRODUCTION
1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. RESEARCH METHODOLOGY
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. EXECUTIVE SUMMARY
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
4. IMPACT OF COVID-19 ON PERU TIRE MARKET OUTLOOK
5. VOICE OF CUSTOMER ANALYSIS
5.1. Factors Influencing Purchase Decision
5.2. Brand Awareness
5.3. Brand Satisfaction Level
6. PERU TIRE MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Vehicle Type Market Share Analysis (Passenger Car, Light Commercial Vehicle (LCV), Medium & Heavy Commercial Vehicles (M&HCV), Off-the-Road Vehicles (OTR), Two-Wheelers, Three-Wheelers)
6.2.2. By Demand Category Market Share Analysis (OEM Vs. Replacement)
6.2.3. By Tire Construction Type Market Share Analysis (Radial Vs Bias)
6.2.4. By Regional Market Share Analysis
6.2.4.1. Costa Market Share Analysis
6.2.4.2. Sierra Market Share Analysis
6.2.4.3. Selva Market Share Analysis
6.2.5. By Company Market Share Analysis (Top 5 Companies, Others – By Value, 2022)
6.3. Peru Tire Market Mapping & Opportunity Assessment
6.3.1. By Vehicle Type Market Mapping & Opportunity Assessment
6.3.2. By Demand Category Market Mapping & Opportunity Assessment
6.3.3. By Tire Construction Type Market Mapping & Opportunity Assessment
6.3.4. By Regional Market Mapping & Opportunity Assessment
7. PERU PASSENGER CAR TIRE MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Vehicle Type Market Share Analysis
7.2.2. By Demand Category Market Share Analysis
7.2.3. By Tire Construction Type Market Share Analysis
8. PERU LIGHT COMMERCIAL VEHICLE TIRE MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Vehicle Type Market Share Analysis
8.2.2. By Demand Category Market Share Analysis
8.2.3. By Tire Construction Type Market Share Analysis
9. PERU MEDIUM & HEAVY COMMERCIAL VEHICLES TIRE MARKET OUTLOOK
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Vehicle Type Market Share Analysis
9.2.2. By Demand Category Market Share Analysis
9.2.3. By Tire Construction Type Market Share Analysis
10. PERU OFF-THE-ROAD VEHICLES TIRE MARKET OUTLOOK
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Vehicle Type Market Share Analysis
10.2.2. By Demand Category Market Share Analysis
10.2.3. By Tire Construction Type Market Share Analysis
11. PERU TWO-WHEELERS TIRE MARKET OUTLOOK
11.1. Market Size & Forecast
11.1.1. By Value & Volume
11.2. Market Share & Forecast
11.2.1. By Vehicle Type Market Share Analysis
11.2.2. By Demand Category Market Share Analysis
11.2.3. By Tire Construction Type Market Share Analysis
12. PERU THREE-WHEELERS TIRE MARKET OUTLOOK
12.1. Market Size & Forecast
12.1.1. By Value & Volume
12.2. Market Share & Forecast
12.2.1. By Vehicle Type Market Share Analysis
12.2.2. By Demand Category Market Share Analysis
12.2.3. By Tire Construction Type Market Share Analysis
13. MARKET DYNAMICS
13.1. Market Drivers
13.2. Market Challenges
14. MARKET TRENDS & DEVELOPMENTS
15. SWOT ANALYSIS
15.1. Strength
15.2. Weakness
15.3. Opportunities
15.4. Threats
16. PORTER’S FIVE FORCES MODEL
16.1. Competitive Rivalry
16.2. Bargaining Powers of Suppliers
16.3. Bargaining Powers of Buyers
16.4. Threat of New Entrants
16.5. Threat of Substitutes
17. POLICY & REGULATORY LANDSCAPE
18. PERU ECONOMIC PROFILE
19. COMPETITIVE LANDSCAPE
19.1. Company Profiles (Up to 10 Major Companies)
19.1.1. Bridgestone Corporation
19.1.1.1. Company Details
19.1.1.2. Key Products Offered
19.1.1.3. Recent Development
19.1.1.4. Key Management Personnel
19.1.2. Continental AG
19.1.2.1. Company Details
19.1.2.2. Key Products Offered
19.1.2.3. Recent Development
19.1.2.4. Key Management Personnel
19.1.3. Goodyear Tire & Rubber Company
19.1.3.1. Company Details
19.1.3.2. Key Products Offered
19.1.3.3. Recent Development
19.1.3.4. Key Management Personnel
19.1.4. Sumitomo Rubber Industries Ltd
19.1.4.1. Company Details
19.1.4.2. Key Products Offered
19.1.4.3. Recent Development
19.1.4.4. Key Management Personnel
19.1.5. Michelin Group
19.1.5.1. Company Details
19.1.5.2. Key Products Offered
19.1.5.3. Recent Development
19.1.5.4. Key Management Personnel
19.1.6. Pirelli & C. S.p.A.
19.1.6.1. Company Details
19.1.6.2. Key Products Offered
19.1.6.3. Recent Development
19.1.6.4. Key Management Personnel
19.1.7. Yokohama Rubber Company Limited
19.1.7.1. Company Details
19.1.7.2. Key Products Offered
19.1.7.3. Recent Development
19.1.7.4. Key Management Personnel
19.1.8. Kumho Tire Co. Inc.
19.1.8.1. Company Details
19.1.8.2. Key Products Offered
19.1.8.3. Recent Development
19.1.8.4. Key Management Personnel
20. STRATEGIC RECOMMENDATIONS
20.1. Key Focus Areas
20.1.1. Target Regions
20.1.2. Target Vehicle Type
20.1.3. Target Demand Category
21. ABOUT US & DISCLAIMER
1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. RESEARCH METHODOLOGY
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. EXECUTIVE SUMMARY
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
4. IMPACT OF COVID-19 ON PERU TIRE MARKET OUTLOOK
5. VOICE OF CUSTOMER ANALYSIS
5.1. Factors Influencing Purchase Decision
5.2. Brand Awareness
5.3. Brand Satisfaction Level
6. PERU TIRE MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Vehicle Type Market Share Analysis (Passenger Car, Light Commercial Vehicle (LCV), Medium & Heavy Commercial Vehicles (M&HCV), Off-the-Road Vehicles (OTR), Two-Wheelers, Three-Wheelers)
6.2.2. By Demand Category Market Share Analysis (OEM Vs. Replacement)
6.2.3. By Tire Construction Type Market Share Analysis (Radial Vs Bias)
6.2.4. By Regional Market Share Analysis
6.2.4.1. Costa Market Share Analysis
6.2.4.2. Sierra Market Share Analysis
6.2.4.3. Selva Market Share Analysis
6.2.5. By Company Market Share Analysis (Top 5 Companies, Others – By Value, 2022)
6.3. Peru Tire Market Mapping & Opportunity Assessment
6.3.1. By Vehicle Type Market Mapping & Opportunity Assessment
6.3.2. By Demand Category Market Mapping & Opportunity Assessment
6.3.3. By Tire Construction Type Market Mapping & Opportunity Assessment
6.3.4. By Regional Market Mapping & Opportunity Assessment
7. PERU PASSENGER CAR TIRE MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Vehicle Type Market Share Analysis
7.2.2. By Demand Category Market Share Analysis
7.2.3. By Tire Construction Type Market Share Analysis
8. PERU LIGHT COMMERCIAL VEHICLE TIRE MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Vehicle Type Market Share Analysis
8.2.2. By Demand Category Market Share Analysis
8.2.3. By Tire Construction Type Market Share Analysis
9. PERU MEDIUM & HEAVY COMMERCIAL VEHICLES TIRE MARKET OUTLOOK
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Vehicle Type Market Share Analysis
9.2.2. By Demand Category Market Share Analysis
9.2.3. By Tire Construction Type Market Share Analysis
10. PERU OFF-THE-ROAD VEHICLES TIRE MARKET OUTLOOK
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Vehicle Type Market Share Analysis
10.2.2. By Demand Category Market Share Analysis
10.2.3. By Tire Construction Type Market Share Analysis
11. PERU TWO-WHEELERS TIRE MARKET OUTLOOK
11.1. Market Size & Forecast
11.1.1. By Value & Volume
11.2. Market Share & Forecast
11.2.1. By Vehicle Type Market Share Analysis
11.2.2. By Demand Category Market Share Analysis
11.2.3. By Tire Construction Type Market Share Analysis
12. PERU THREE-WHEELERS TIRE MARKET OUTLOOK
12.1. Market Size & Forecast
12.1.1. By Value & Volume
12.2. Market Share & Forecast
12.2.1. By Vehicle Type Market Share Analysis
12.2.2. By Demand Category Market Share Analysis
12.2.3. By Tire Construction Type Market Share Analysis
13. MARKET DYNAMICS
13.1. Market Drivers
13.2. Market Challenges
14. MARKET TRENDS & DEVELOPMENTS
15. SWOT ANALYSIS
15.1. Strength
15.2. Weakness
15.3. Opportunities
15.4. Threats
16. PORTER’S FIVE FORCES MODEL
16.1. Competitive Rivalry
16.2. Bargaining Powers of Suppliers
16.3. Bargaining Powers of Buyers
16.4. Threat of New Entrants
16.5. Threat of Substitutes
17. POLICY & REGULATORY LANDSCAPE
18. PERU ECONOMIC PROFILE
19. COMPETITIVE LANDSCAPE
19.1. Company Profiles (Up to 10 Major Companies)
19.1.1. Bridgestone Corporation
19.1.1.1. Company Details
19.1.1.2. Key Products Offered
19.1.1.3. Recent Development
19.1.1.4. Key Management Personnel
19.1.2. Continental AG
19.1.2.1. Company Details
19.1.2.2. Key Products Offered
19.1.2.3. Recent Development
19.1.2.4. Key Management Personnel
19.1.3. Goodyear Tire & Rubber Company
19.1.3.1. Company Details
19.1.3.2. Key Products Offered
19.1.3.3. Recent Development
19.1.3.4. Key Management Personnel
19.1.4. Sumitomo Rubber Industries Ltd
19.1.4.1. Company Details
19.1.4.2. Key Products Offered
19.1.4.3. Recent Development
19.1.4.4. Key Management Personnel
19.1.5. Michelin Group
19.1.5.1. Company Details
19.1.5.2. Key Products Offered
19.1.5.3. Recent Development
19.1.5.4. Key Management Personnel
19.1.6. Pirelli & C. S.p.A.
19.1.6.1. Company Details
19.1.6.2. Key Products Offered
19.1.6.3. Recent Development
19.1.6.4. Key Management Personnel
19.1.7. Yokohama Rubber Company Limited
19.1.7.1. Company Details
19.1.7.2. Key Products Offered
19.1.7.3. Recent Development
19.1.7.4. Key Management Personnel
19.1.8. Kumho Tire Co. Inc.
19.1.8.1. Company Details
19.1.8.2. Key Products Offered
19.1.8.3. Recent Development
19.1.8.4. Key Management Personnel
20. STRATEGIC RECOMMENDATIONS
20.1. Key Focus Areas
20.1.1. Target Regions
20.1.2. Target Vehicle Type
20.1.3. Target Demand Category
21. ABOUT US & DISCLAIMER
