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Pandemic disrupted the entire world and affected many industries.
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A crossover sport utility vehicle (CSUV), also known as a crossover utility vehicle (CUV), is a type of sport utility vehicle (SUV) of unibody construction. Its spacious cabin is suitable for a family vacation. The crossovers are often based on a platform shared within a passenger car market. If compared to truck-based SUVs, they typically have better interior comfort, a more comfortable ride, superior fuel economy, and less off-road capability. However, many crossovers lack all-wheel drive, in combination with their lesser off-road capability, challenges their definition as "sports utility vehicles." The difference between crossovers and other SUVs is defined as a crossover being built using a unibody platform (the type used by most passenger cars), while an SUV is built using a body on frame platform (the type used by off-road vehicles and light trucks). However, these definitions are often blurred in practice, since unibody vehicles are also often referred to as SUVs. The growing demand for SUVs has boosted the demand for crossover SUVs.
Market scope and structure analysis
Report Metric | Details |
Market size available for years | 2020–2027 |
Base year considered | 2019 |
Forecast period | 2021–2027 |
Forecast unit | Value (USD) |
Segments covered | Vehicles and Sales |
Regions covered | North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa) |
Companies covered | Acure, Mercedes-Benz, Infiniti, Honda Motor Company, Ford Motor Company, Toyota Motor Corporation, Honda Motor Co. Ltd., Audi, Hyundai Motor Company, and General Motors |
COVID-19 scenario analysis
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
The top impacting factor of the global market is implementation of measures by OEMs to reduce the complexity & weight of vehicles. In addition, rapid urbanization and increase in purchasing power of consumers are likely to drive the growth of the market. However, the absence of standard protocols for the development of automotive industries and the intricate design of the system are considered as a key restraining factors of this market. Conversely, the growing demand for electric vehicles will further boost the automotive industry across the globe, which is expected to provide potential opportunities for the growth of the crossover market during the forecast period.
The crossover market trends are as follows:
Global measures by OEMs to reduce complexity & weight of vehicles
The automobile manufacturers are incorporating several systems in vehicles that complicate their design or increase the weight of the vehicle. Advanced safety and security features are no longer restricted to premium vehicles. The economical class vehicles have also become significantly faster and smarter over the last decade. Hence, these advancements have drastically augmented the need for the adoption of advanced car safety features. In addition, consumers are now more concerned about safety systems and technologies, and therefore, they are more interested in opting for vehicles that are equipped with better and advanced systems.
Rapid urbanization and increase in purchasing power of consumers
Developing countries across the world are seeing huge growth in urbanization over the last decade, which is rapidly growing the market size and increasing the purchasing power of customers. These factors collectively will augment the growth of the crossover market during the forecast period.
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Questions answered in the crossovers market research report:
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