Crossover Vehicle Market
PUBLISHED: 2024 ID: SMRC26724
SHARE
SHARE

Crossover Vehicle Market

Crossover Vehicle Market Forecasts to 2030 - Global Analysis By Vehicle Type (Compact Crossovers, Mid-Size Crossovers, Full-Size Crossovers and Other Vehicle Types), Drive Type, Propulsion Type, Gear Transmission, Application, End User and By Geography

4.2 (41 reviews)
4.2 (41 reviews)
Published: 2024 ID: SMRC26724

This report covers the impact of COVID-19 on this global market
Loading...

According to Stratistics MRC, the Global Crossover Vehicle Market is accounted for $0.18 billion in 2024 and is expected to reach $0.35 billion by 2030 growing at a CAGR of 6.8% during the forecast period. Crossover vehicles, often referred to as CUVs, are a hybrid between traditional SUVs and passenger cars, blending the utility of an SUV with the comfort and handling of a car. Typically built on a car platform with a unibody construction, they offer spacious interiors, elevated seating positions, and versatile cargo space, making them suitable for various lifestyles and driving preferences. Their popularity stems from their adaptable nature, appealing to families, commuters, and adventure-seekers alike.

According to the International Organisation of Motor Vehicle Manufacturers, 95 million and 96 million commercial and passenger automobiles were sold globally in 2017 and 2018.

Market Dynamics: 

Driver: 

Expanding urbanization

Expanding urbanization fuels demand for crossover vehicles by emphasizing the need for versatile transportation solutions. As cities grow denser, consumers increasingly seek vehicles that offer a balance between the agility required for urban driving and the spaciousness needed for everyday activities. Crossover vehicles fulfil this need by providing ample cargo space, higher ground clearance, and optional all-wheel drive, making them well-suited for navigating city streets while offering the versatility to handle diverse lifestyles and activities, thereby fueling their popularity in urban environments.

Restraint:

Stringent emissions regulations & fuel economy standards

Stringent emissions regulations and fuel economy standards pose challenges for crossover vehicles by requiring manufacturers to balance performance with environmental concerns. Compliance may necessitate costly technology upgrades, potentially increasing vehicle prices. Moreover, meeting these standards could limit design flexibility and innovation, constraining manufacturers' ability to differentiate their products in a highly competitive market, thus impeding the segment's growth.

Opportunity:

Growing demand for versatile & spacious vehicles

Consumers increasingly seek vehicles that offer a blend of SUV-like capabilities and car-like comfort, making crossovers an attractive option. These vehicles provide ample cargo space, passenger seating, and versatility for various lifestyles and activities. As urbanization progresses and consumer preferences evolve, the crossover segment continues to expand to meet the demand for vehicles that offer practicality, comfort, and adaptability in a single package.

Threat:

Consumer shift towards electric vehicles

The consumer shift towards electric vehicles poses challenges for the growth of the crossover vehicles market as it introduces new preferences and priorities. While crossover vehicles offer versatility and spaciousness, the increasing demand for electric vehicles emphasizes factors like range, charging infrastructure, and environmental sustainability. This shift may divert consumer attention and resources away from traditional crossover models, prompting automakers to invest more heavily in electric vehicle development and potentially reducing the focus on expanding the crossover market segment.

Covid-19 Impact

The covid-19 pandemic significantly impacted the crossover vehicle market. Initially, sales declined sharply due to economic uncertainty, lockdown measures, and reduced consumer spending. However, as restrictions eased and people sought safer transportation options, crossover vehicles saw resurgence in demand. Additionally, the shift towards remote work increased interest in vehicles suitable for both commuting and leisure activities, further bolstering crossover sales despite ongoing supply chain challenges and fluctuating consumer confidence.

The hybrid segment is expected to be the largest during the forecast period

The hybrid segment is estimated to have a lucrative growth. Hybrid propulsion crossover vehicles integrate both electric and internal combustion engines, offering improved fuel efficiency and reduced emissions compared to traditional counterparts. These vehicles utilize regenerative braking to recharge their batteries and often feature advanced technology for seamless switching between power sources. Hybrid crossovers appeal to environmentally conscious consumers seeking eco-friendly transportation without sacrificing performance or versatility.

The urban commuting segment is expected to have the highest CAGR during the forecast period

The urban commuting segment is anticipated to witness the highest CAGR growth during the forecast period. Crossover vehicles are increasingly popular for urban commuting due to their blend of SUV utility and car-like handling. With compact dimensions suitable for navigating city streets and ample cargo space, they offer versatility for urban lifestyles. Features like fuel efficiency, advanced safety systems, and connectivity options cater to the needs of urban commuters seeking practicality and comfort in congested environments.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period driven by urbanization, increasing disposable incomes, and changing consumer preferences. Rising demand for versatile vehicles suitable for both urban and rural environments has spurred sales. Consumers in countries like China, India, and Japan are increasingly drawn to crossover vehicles for their versatility, practicality, and style. Additionally, government incentives and tightening emissions regulations are encouraging the adoption of fuel-efficient crossover models. 

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to their versatility and utility. Major players like Ford, Toyota, and Honda dominate the segment, offering a diverse range of crossover options to cater to varied consumer preferences. Technological advancements, including hybrid and electric variants, further diversify the market landscape, appealing to eco-conscious consumers. 

Key players in the market

Some of the key players profiled in the Crossover Vehicle Market include Toyota Motor Corporation, Honda Motor Limited, Nissan Motor Corporation, Ford Motor Company, Chevrolet, Hyundai Motor Company, Kia Corporation, Mitsubishi Motors Corporation, Mazda Corporation, Volkswagen Group, Jeep, Audi AG, Bayerische Motoren Werke AG (BMW Group), Mercedes-Benz and Volvo.

Key Developments:

In October 2023, Mitsubishi Motors Corporation launched Mitsubishi D:X Concept electrified crossover MPV. The design features large-diameter tires, sturdy over fenders, and front and rear skid plates for off-road performance under rough conditions. The car features a raked front windscreen, moonroof, LED laser projector headlights, mud-terrain tires, and rugged black plastic flares at each wheel.

In September 2023, Nissan Motor Co., Ltd. launched a series of exciting all-electric concept vehicles, Nissan Hyper Urban crossover. The Nissan Hyper Urban's styling perfectly complements its target users, such as urban- and suburban-based professionals who prioritize environmental sustainability.

Vehicle Types Covered:
• Compact Crossovers
• Mid-Size Crossovers
• Full-Size Crossovers
• Other Vehicle Types

Drive Types Covered:
• Front-Wheel Drive (FWD)
• Rear-Wheel Drive (RWD)
• All-Wheel Drive (AWD)
• Four-Wheel Drive (4WD)

Propulsion Types Covered:
• Gasoline
• Hybrid
• Plug-in Hybrid (PHEV)
• Electric
• Other Propulsion Types

Gear Transmissions Covered:
• Automatic Transmission
• Continuously Variable Transmission (CVT)
• Dual-Clutch Transmission (DCT)

Applications Covered:
• Urban Commuting
• Family Transport
• Taxi Services
• Towing & Hauling
• Other Applications

End Users Covered:
• Individual Consumers
• Fleet Operators
• Outdoor Enthusiasts
• Adventure Tourism Operators
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary            
              
2 Preface             
 2.1 Abstract            
 2.2 Stake Holders           
 2.3 Research Scope           
 2.4 Research Methodology          
  2.4.1 Data Mining          
  2.4.2 Data Analysis          
  2.4.3 Data Validation          
  2.4.4 Research Approach          
 2.5 Research Sources           
  2.5.1 Primary Research Sources         
  2.5.2 Secondary Research Sources         
  2.5.3 Assumptions          
              
3 Market Trend Analysis           
 3.1 Introduction           
 3.2 Drivers            
 3.3 Restraints           
 3.4 Opportunities           
 3.5 Threats            
 3.6 Application Analysis          
 3.7 End User Analysis           
 3.8 Emerging Markets           
 3.9 Impact of Covid-19           
              
4 Porters Five Force Analysis           
 4.1 Bargaining power of suppliers          
 4.2 Bargaining power of buyers          
 4.3 Threat of substitutes          
 4.4 Threat of new entrants          
 4.5 Competitive rivalry           
              
5 Global Crossover Vehicle Market, By Vehicle Type         
 5.1 Introduction           
 5.2 Compact Crossovers          
 5.3 Mid-Size Crossovers          
 5.4 Full-Size Crossovers           
 5.5 Other Vehicle Types          
              
6 Global Crossover Vehicle Market, By Drive Type         
 6.1 Introduction           
 6.2 Front-Wheel Drive (FWD)          
 6.3 Rear-Wheel Drive (RWD)          
 6.4 All-Wheel Drive (AWD)          
 6.5 Four-Wheel Drive (4WD)          
              
7 Global Crossover Vehicle Market, By Propulsion Type     
 7.1 Introduction           
 7.2 Gasoline            
 7.3 Hybrid            
 7.4 Plug-in Hybrid (PHEV)          
 7.5 Electric            
 7.6 Other Propulsion Types          
              
8 Global Crossover Vehicle Market, By Gear Transmission        
 8.1 Introduction           
 8.2 Automatic Transmission          
 8.3 Continuously Variable Transmission (CVT)        
 8.4 Dual-Clutch Transmission (DCT)         
              
9 Global Crossover Vehicle Market, By Application         
 9.1 Introduction           
 9.2 Urban Commuting           
 9.3 Family Transport           
 9.4 Taxi Services           
 9.5 Towing & Hauling           
 9.6 Other Applications           
              
10 Global Crossover Vehicle Market, By End User         
 10.1 Introduction           
 10.2 Individual Consumers          
 10.3 Fleet Operators           
 10.4 Outdoor Enthusiasts          
 10.5 Adventure Tourism Operators          
 10.6 Other End Users           
              
11 Global Crossover Vehicle Market, By Geography         
 11.1 Introduction           
 11.2 North America           
  11.2.1 US           
  11.2.2 Canada           
  11.2.3 Mexico           
 11.3 Europe            
  11.3.1 Germany           
  11.3.2 UK           
  11.3.3 Italy           
  11.3.4 France           
  11.3.5 Spain           
  11.3.6 Rest of Europe          
 11.4 Asia Pacific           
  11.4.1 Japan           
  11.4.2 China           
  11.4.3 India           
  11.4.4 Australia           
  11.4.5 New Zealand          
  11.4.6 South Korea          
  11.4.7 Rest of Asia Pacific          
 11.5 South America           
  11.5.1 Argentina          
  11.5.2 Brazil           
  11.5.3 Chile           
  11.5.4 Rest of South America         
 11.6 Middle East & Africa          
  11.6.1 Saudi Arabia          
  11.6.2 UAE           
  11.6.3 Qatar           
  11.6.4 South Africa          
  11.6.5 Rest of Middle East & Africa         
              
12 Key Developments            
 12.1 Agreements, Partnerships, Collaborations and Joint Ventures       
 12.2 Acquisitions & Mergers          
 12.3 New Product Launch          
 12.4 Expansions           
 12.5 Other Key Strategies          
              
13 Company Profiling            
 13.1 Toyota Motor Corporation          
 13.2 Honda Motor Limited          
 13.3 Nissan Motor Corporation          
 13.4 Ford Motor Company          
 13.5 Chevrolet           
 13.6 Hyundai Motor Company          
 13.7 Kia Corporation           
 13.8 Mitsubishi Motors Corporation          
 13.9 Mazda Corporation           
 13.10 Volkswagen Group           
 13.11 Jeep            
 13.12 Audi AG            
 13.13 Bayerische Motoren Werke AG (BMW Group)        
 13.14 Mercedes-Benz           
 13.15 Volvo            
              
List of Tables             
1 Global Crossover Vehicle Market Outlook, By Region (2022-2030) ($MN)       
2 Global Crossover Vehicle Market Outlook, By Vehicle Type (2022-2030) ($MN)      
3 Global Crossover Vehicle Market Outlook, By Compact Crossovers (2022-2030) ($MN)     
4 Global Crossover Vehicle Market Outlook, By Mid-Size Crossovers (2022-2030) ($MN)     
5 Global Crossover Vehicle Market Outlook, By Full-Size Crossovers (2022-2030) ($MN)     
6 Global Crossover Vehicle Market Outlook, By Other Vehicle Types (2022-2030) ($MN)     
7 Global Crossover Vehicle Market Outlook, By Drive Type (2022-2030) ($MN)      
8 Global Crossover Vehicle Market Outlook, By Front-Wheel Drive (FWD) (2022-2030) ($MN)     
9 Global Crossover Vehicle Market Outlook, By Rear-Wheel Drive (RWD) (2022-2030) ($MN)     
10 Global Crossover Vehicle Market Outlook, By All-Wheel Drive (AWD) (2022-2030) ($MN)     
11 Global Crossover Vehicle Market Outlook, By Four-Wheel Drive (4WD) (2022-2030) ($MN)     
12 Global Crossover Vehicle Market Outlook, By Propulsion Type (2022-2030) ($MN)      
13 Global Crossover Vehicle Market Outlook, By Gasoline (2022-2030) ($MN)      
14 Global Crossover Vehicle Market Outlook, By Hybrid (2022-2030) ($MN)       
15 Global Crossover Vehicle Market Outlook, By Plug-in Hybrid (PHEV) (2022-2030) ($MN)     
16 Global Crossover Vehicle Market Outlook, By Electric (2022-2030) ($MN)       
17 Global Crossover Vehicle Market Outlook, By Other Propulsion Types (2022-2030) ($MN)     
18 Global Crossover Vehicle Market Outlook, By Gear Transmission (2022-2030) ($MN)     
19 Global Crossover Vehicle Market Outlook, By Automatic Transmission (2022-2030) ($MN)     
20 Global Crossover Vehicle Market Outlook, By Continuously Variable Transmission (CVT) (2022-2030) ($MN)   
21 Global Crossover Vehicle Market Outlook, By Dual-Clutch Transmission (DCT) (2022-2030) ($MN)    
22 Global Crossover Vehicle Market Outlook, By Application (2022-2030) ($MN)      
23 Global Crossover Vehicle Market Outlook, By Urban Commuting (2022-2030) ($MN)      
24 Global Crossover Vehicle Market Outlook, By Family Transport (2022-2030) ($MN)      
25 Global Crossover Vehicle Market Outlook, By Taxi Services (2022-2030) ($MN)      
26 Global Crossover Vehicle Market Outlook, By Towing & Hauling (2022-2030) ($MN)      
27 Global Crossover Vehicle Market Outlook, By Other Applications (2022-2030) ($MN)     
28 Global Crossover Vehicle Market Outlook, By End User (2022-2030) ($MN)      
29 Global Crossover Vehicle Market Outlook, By Individual Consumers (2022-2030) ($MN)     
30 Global Crossover Vehicle Market Outlook, By Fleet Operators (2022-2030) ($MN)      
31 Global Crossover Vehicle Market Outlook, By Outdoor Enthusiasts (2022-2030) ($MN)     
32 Global Crossover Vehicle Market Outlook, By Adventure Tourism Operators (2022-2030) ($MN)    
33 Global Crossover Vehicle Market Outlook, By Other End Users (2022-2030) ($MN)      
              
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials