Sports Utility Vehicle (SUVs) Market Future Forecast Indicates Impressive Growth Rate

The Sports Utility Vehicle (SUVs) Market is a broad research dependent on industry, which examines the escalated structure of the present market all around the world. Planned by the sufficient orderly system, for example, SWOT investigation, the Sports Utility Vehicle (SUVs) market report demonstrates an aggregate appraisal of overall business overview.

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Sports Utility Vehicles (SUV) is a type of off-road vehicle, which includes features such as ground clearance, ruggedness, and four-wheel drive that helps the vehicles to withstand in rough environment. The SUVs offer a broad range of advantages such as power, performance, cargo room, better sightlines, functionality, luxury, and safety, which in turn is driving growth of the SUV market.

Increasing concern regarding safety is one of the major driving factors for growth of the market. SUV vehicles are equipped with active safety features such as ADAS (Advanced driver-assistance systems), Anti-Lock Brake System (ABS), traction control (ASR), torque vectoring, and Tire-Pressure Monitoring System (TPMS), which has primary function of not to getting into accidents by providing maximum safety to the driver. For instance, in 2017, Audi launched the AudiQ3 SUV vehicles, which was incorporated with advanced technologies such as Electromechanical Parking Brake, Tire-pressure Monitoring System (TPMS), and Anti-lock Brake System (ABS).

Increasing inclination of consumers towards adoption of automobiles with safety features, owing to increasing number of road accidents is expected to boost growth of the SUVs market worldwide. For instance, according to World Health Organization (WHO), an estimated 1.25 million road accidents were reported worldwide in 2013, out of which around 93% road traffic death were reported in low and middle income economies and over 50 million people were injured by road accidents.

The SUV market in North America accounted for largest share in global market and is expected to maintain its dominance over the forecast period (2018 – 2026). The growth in this region is attributed to stringent government regulations to prevent road accidents. For instance, in 2008, the U.S. Congress TREAD Act, mandated the deployment of appropriate Tire Pressure Monitoring System (TPMS) technology in all passenger vehicles to improve the driver and passenger safety by means of dashboard warning system.

Moreover, in 2016, the U.S. Department of Transportation's National Highway Traffic Safety Administration officially announced that automakers in the U.S. have to make the autonomous emergency braking system a standard feature for all cars and trucks by 2022. This in turn creates a highly conducive environment for growth of the regional SUV market.

Key players operating in the SUVs market include AUDI AG Corporation, Toyota Motor Corporation, Volkswagen AG, Rolls-Royce Motor Cars Limited, General Motors LLC, Jaguar Land Rover Automotive PLC, and Acura. Major players such as AUDI AG, Volkswagen AG, and Rolls-Royce Motors Cars Ltd. are focusing on launching products equipped with advanced features, in order to maintain a competitive edge in the market.

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Report Highlights:

-The Sports Utility Vehicle report provides a detailed analysis of current and future Sports Utility Vehicle market trends to identify the investment opportunities.
-Market forecasts till 2026, using estimated Sports Utility Vehicle market values as the base numbers.
-Key Sports Utility Vehicle market trends beyond the business segments, Regions and Countries.
-Key developments and strategies observed in the Sports Utility Vehicle market.
-Sports Utility Vehicle Market Dynamics such as Drivers, Limitations, Opportunities and other trends.
-In-depth business profiles of key players and upcoming prominent players.
-Growth prospects among the emerging countries through 2026.
-Sports Utility Vehicle Market opportunities and recommendations for new investments

Thus, the report extends from market scenarios to comparative pricing between major players, cost and profit of the specified market regions. The numerical data is backed up by statistical tools such as SWOT analysis, BCG matrix, SCOT analysis, PESTLE analysis and so on. The statistics are represented in graphical format for a clear understanding on facts and figures.

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