Global SUV Market is expected to register a healthy CAGR of 12.23% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the increasing levels of investments carried out by various automobile manufacturers to develop innovative and technologically advanced vehicles along with consumer preferences to have vehicles that include safety, infotainment & comfort for off-roading.
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Few of the major competitors currently working in the global SUV market are Daimler AG; General Motors; Hyundai Motor Company; TOYOTA MOTOR CORPORATION; Honda Motor Co., Ltd.; BYD Company Ltd.; BMW AG; Volkswagen AG; Nissan; Fiat Chrysler Automobiles; MITSUBISHI MOTORS CORPORATION; Ford Motor Company; Groupe Renault; Geely Auto; Groupe PSA; Great Wall Motors; Mazda Motor Corporation; Changan Automobile; Tata Motors; Guangzhou Automobile Group Motor Co., Ltd. (GAC MOTOR); suzuki motor corporation; SAIC Motor Corporation Limited; Dongfeng Motor Company; Mahindra & Mahindra Ltd.; CHERY; SUBARU CORPORATION and Tesla.
The Global SUV Market report helps in determining and optimizing each stage in the lifecycle of industrial process that includes engagement, acquisition, retention, and monetization. This Global SUV Market research report comprises of different industry verticals such as company profile, contact details of manufacturer, product specifications, geographical scope, production value, market structures, recent developments, revenue analysis, market shares and possible sales volume of the company. It helps companies to take decisive actions to deal with threats in the niche market. The Global SUV Market report presents actionable market insights with which businesses can settle on sustainable and lucrative strategies.
SUV (Sports Utility Vehicle) are an expanded version of the passenger vehicles that extract the features of light commercial vehicles and passenger vehicles and combine to offer enhanced passenger carrying or load-carrying capacity & offer the comfort along with efficiency of passenger vehicles. SUV’s are classified based on their seating capacity but a minimum of five seating capacity is required in vehicles for them to be termed as SUV. They offer enhanced performance, comfort over long routes and four-wheel drive capabilities.
- Growing awareness regarding the benefits and capabilities of these vehicles such as greater comfort, off-roading capabilities, greater capacity are factors expected to drive the growth of the market
- Growth in the living standards of Asia-Pacific region is expected to significantly drive the growth of the market
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Key Developments in the Market:
- In May 2019, Hyundai Motor Company announced the launch of their new compact SUV for the Indian market branded as “Venue” priced in the range of Rupees 6.5-11.10 lakh. The car is the first connected car provided by the manufacturer in the Indian market. The product is available with seven different colours.
- In January 2019, Tata Motors announced the launch of their new SUV branded as “Harrier” priced from Rupees 12.69 lakh and upwards. The car available in two seating options 5 and 7 seaters and three different driving modes are available; “City”, “Sport” and “Eco”. The car will be initially launched as a compact SUV but later variants will include expanded seating and prices are expected to rise to Rupees 16.25 lakh.
By Ignition Type
By Price Range
- Remote Areas
- North America
- South America
- Middle East & Africa
Competitive Analysis: Global SUV Market
Global SUV market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of SUV market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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