Crossovers Market Outlook – 2027

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

COVID-19 scenario analysis

• Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of crossover sport utility vehicle across the globe, thereby increasing the supply–demand gap.

• Thus, insufficiency in raw material supply is expected to hamper the production rate of crossover sport utility vehicle, which negatively impacts the market growth.
• However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.

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.

Key segments covered

Key benefits of the report:

• This study presents the analytical depiction of the crossovers market industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the crossovers market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the crossovers market scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in the coming years.

Questions answered in the crossovers market research report:

• Which are the leading players active in the crossovers market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?

 Key Market Segments

 
Key Market Players

• Acure
• Mercedes-Benz
• Infiniti
• Honda Motor Company
• Ford Motor Company
• Toyota Motor Corporation
• Honda Motor Co. Ltd.
• Audi
• Hyundai Motor Company
• General Motors