Turkey SUV Market (2024-2030) | Outlook, Share, Value, Forecast, Companies, Analysis, Revenue, Trends, Growth, Industry & Size

 

Turkey SUV Market Highlights

Report Name	Turkey SUV Market
Forecast period	2024-2030
CAGR	6.9%
Growing Sector	Automotive Sector

Topics Covered in the Turkey SUV Market

Turkey SUV Market report thoroughly covers the market by type, by propulsion, and by class. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Turkey SUV Market Synopsis

Turkey's booming SUV market is a rapidly growing industry that has been attracting local and international automotive manufacturers and dealers alike. It is one of the largest economies in the Middle East, which makes it a significant player in today's automotive market. there have been several other drivers present that are augmenting the market growth, including young population, high purchasing power, and strong economic growth.

According to 6Wresearch, the Turkey SUV Market size is expected to grow at a CAGR of 6.9% during the forecast period 2024-2030. Younger consumers prefer SUVs because they are versatile and spacious. It is the largest segment in the passenger car market, and the trend is expected to continue as the demand for SUV models increases. On the other hand, there has several challenges do exist in the Turkey SUV industry that can hamper its growth such as the high import tax levied on foreign-made cars. Such tariffs can make foreign SUVs more expensive than domestically produced models, making it difficult for international car companies to compete in the Turkish market and high import taxes on foreign-made cars. However, some ongoing trends are contributing towards the market growth such as high demand for SUVs, particularly from younger consumers, will lead to an increase in the number of models launched in the Turkish market. Additionally, as the electric vehicle market grows globally, Turkey is looking to develop its EV industry as well.

Government Initiatives Introduced in the Turkey SUV Market

The Turkish government has been involved in several initiatives aimed at supporting the automotive industry's growth. The government has revised its incentive scheme to encourage companies to invest in the country. It includes tax reductions, subsidies, and investment credits. Furthermore, the Turkish government is working on developing its infrastructure, so it is well-positioned to support the growth of the electric vehicle market. For instance, it has launched a program aimed at building a network of EV charging stations throughout the country.

Key Players in the Turkey SUV Market

Turkey's SUV industry has numerous players operating in the market, including Honda, Ford, and Toyota, among others. However, the biggest players in the market are Turkish automakers such as TOGG (Turkey's Automobile Joint Venture Group), which plans to produce seven models by 2030, and Tofas (a joint venture between Turkish conglomerate Koc Holding and Fiat Chrysler Automobiles).

Future Insights of the Turkey SUV Market

In the coming years, technology will become even more integrated into vehicles. This could include fully autonomous driving, 5G connectivity, and adoption of artificial intelligence (AI). Such technologies will require a comprehensive overhaul of vehicle design and stability, and this could translate into a higher price tag for SUVs. As environmental regulations tighten around the globe, automakers will have to introduce electric and hybrid SUVs in their portfolio. Especially in cities like Istanbul, where pollution is a growing concern, eco-friendly vehicles will not only reduce the carbon footprint, but also improve air quality.

Market Analysis by Type

According to Dhaval, Research Manager, 6Wresearch, MPV SUVs offer an excellent balance of size, space, safety, versatility, and affordability, which makes them a perfect fit for Turkish car buyers. With more and more people looking for a vehicle that offers practicality along with comfort.

Market Analysis by Application

Based on the propulsion, the electric SUVs are leading in the Turkey SUV market. This can be attributed to the Turkish government's initiatives to promote electric vehicles, as well as the increasing concerns over emissions and the environment.

Key attractiveness of the report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023.
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Turkey SUV Market Outlook
• Market Size of Turkey SUV Market, 2023
• Forecast of Turkey SUV Market, 2030
• Historical Data and Forecast of Turkey SUV Revenues & Volume for the Period 2020 - 2030
• Turkey SUV Market Trend Evolution
• Turkey SUV Market Drivers and Challenges
• Turkey SUV Price Trends
• Turkey SUV Porter's Five Forces
• Turkey SUV Industry Life Cycle
• Historical Data and Forecast of Turkey SUV Market Revenues & Volume By Type for the Period 2020 - 2030
• Historical Data and Forecast of Turkey SUV Market Revenues & Volume By Mini for the Period 2020 - 2030
• Historical Data and Forecast of Turkey SUV Market Revenues & Volume By Compact for the Period 2020 - 2030
• Historical Data and Forecast of Turkey SUV Market Revenues & Volume By Mid- & Full-Size for the Period 2020 - 2030
• Historical Data and Forecast of Turkey SUV Market Revenues & Volume By MPV for the Period 2020 - 2030
• Historical Data and Forecast of Turkey SUV Market Revenues & Volume By Propulsion for the Period 2020 - 2030
• Historical Data and Forecast of Turkey SUV Market Revenues & Volume By Diesel for the Period 2020 - 2030
• Historical Data and Forecast of Turkey SUV Market Revenues & Volume By Gasoline for the Period 2020 - 2030
• Historical Data and Forecast of Turkey SUV Market Revenues & Volume By Electric for the Period 2020 - 2030
• Historical Data and Forecast of Turkey SUV Market Revenues & Volume By Class for the Period 2020 - 2030
• Historical Data and Forecast of Turkey SUV Market Revenues & Volume By B for the Period 2020 - 2030
• Historical Data and Forecast of Turkey SUV Market Revenues & Volume By C for the Period 2020 - 2030
• Historical Data and Forecast of Turkey SUV Market Revenues & Volume By D for the Period 2020 - 2030
• Historical Data and Forecast of Turkey SUV Market Revenues & Volume By E for the Period 2020 - 2030
• Turkey SUV Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Propulsion
• Market Opportunity Assessment By Class
• Turkey SUV Top Companies Market Share
• Turkey SUV Competitive Benchmarking By Technical and Operational Parameters
• Turkey SUV Company Profiles
• Turkey SUV Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Type

• Mini
• Compact
• Mid- & Full-Size
• MPV

By Propulsion

• Diesel
• Gasoline
• Electric

By Class

• B
• C
• D
• E