SUV (Sports Utility Vehicle) Global Industry Analysis by Daimler AG, General Motors, Honda Motor Co. Ltd., BYD, BMW, Volkswagen AG, Nissan Motor Corporation, FCA Fiat Chrysler Automobiles, Ford Motor Company, Groupe Renault, GEELY, Groupe PSA

The Global SUV Market research study relies upon a combination of primary as well as secondary research. It shed light on the key factors concerned with generation and SUV Market growth. Additionally, the historical information and growth in CAGR have been given in the research report. The latest trends, product portfolio, demographics, geographical segmentation and regulatory framework of the SUV Market have also been included in the study. This SUV Market report assists in realigning the business strategies by highlighting the key business priorities.

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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.

Global SUV Market By Type (SUV-C, SUV-D, SUV-E, SUV-F), Size (Mini-SUV, Compact, Mid-Size, Full-Size, Extended-Length), Ignition Type (Diesel, Petrol, Electric, Hybrid, Others), Price Range (Medium, Premium), Application (Remote Areas, Recreation, Motorsport), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026

Key Market Competitors: Global SUV Market

• 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.

Market Definition: Global SUV Market

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.

Market Drivers:

• 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

Market Restraints:

• Low fuel efficiency and large costs of the product amid concerns regarding the environment is expected to restrain the market growth

• Significant costs of maintenance and increased rates of insurance from many regions for these vehicles are also restraining the growth of the market

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Segmentation:

By Type

• SUV-C
• SUV-D
• SUV-E
• SUV-F

By Size

• Mini-SUV
• Compact
• Mid-Size
• Full-Size
• Extended-Length

By Ignition Type

• Diesel
• Petrol
• Electric
• Hybrid
• Others

By Price Range

• Medium
• Premium

By Application

• Remote Areas
• Recreation
• Motorsport

By Geography

• North America

• South America

• Europe

• Asia-Pacific

• Middle East & Africa

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.

Competitive Analysis:

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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