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| Report Code: A10783 | Nov 2023 | Pages: NA | ||
| Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
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The sports utility vehicle is a kind of passenger vehicle which combines load-hauling and passenger-carrying abilities with the usefulness of a lightweight pickup truck. As most of the sports utility vehicles are designed having an engine compartment, approximately square cross-section, and a combined cargo and passenger compartment. In addition, most mid-size and full-size sports utility vehicles have approximately five or more seats, along with a luggage area directly behind the last row of seats. The popularity of sports utility vehicles has grown gradually in recent years, particularly in the U.S. Various factors have contributed to the growth of this kind of vehicle. Generally, sports utility vehicle is perceived to offer a broad range of capabilities: power, performance, cargo room, better sightlines, functionality, luxury, and safety. Hence, the growing charm of sports utility vehicles across the globe is expected to further grow the market in the forecasting period.
Market scope and structure analysis:
Report Metric | Details |
 Market size available for years |  2020–2027 |
 Base year considered |  2019 |
 Forecast period |  2021–2027 |
 Forecast units |  Value (USD) |
 Segments covered  |  Type, Fuel, Price, and Seating Capacity |
 Region covered | North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), LAMEA (Latin America, the Middle East, and Africa) |
 Companies covered | Renault India, Maruti Suzuki, Hyundai Motor India Limited, Toyota Kirloskar Motor, Honda Cars India, Ford India Private Limited, Mahindra & Mahindra, Mitsubishi India, Mercedes-Benz India, and Audi India |
COVID-19 scenario analysis:
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Increase in demand for performance and versatility in automobiles along with the need for luxuriant personal mobility are expected to drive the market growth during the forecast period. Â However, shifting preference toward electric vehicles may hamper the growth of the global market. Furthermore, the latest trend observed in the target market is manufacturers are focusing to develop entry-level, small size, and medium-sized SUVs, which is expected to offer lucrative opportunities for the market during the forecast period.
The sports utility vehicle market trends are as follows:
Increase in demand for performance and versatility in automobiles
The global car market is going through a major shift, as the buying behavior is continuously changing with the market. Departed are the days when people preferred huge sized sports utility vehicles, but now the attention has shifted to that of compact sports utility vehicles. In addition, with fuel prices touching the sky, consumers now demand fuel-efficient sports utility vehicles and therefore sports utility vehicles and multi-utility vehicles are the solutions. Hence, increase in demand for performance combined with efficiency is expected to drive the sports utility vehicle market during the forecast period.
The need for luxuriant personal mobility
With the huge increase in buying power due to modernization and increase in spending power of people, the number of vehicles is increasing significantly across the globe. Thus, the customers who are seeking to buy an automobile are gradually shifting toward the premium segment. In addition, the technology is rapidly restructuring the automotive industry and the automotive Original Equipment Manufacturer (OEM) is continuously adopting new technological changes. Hence, the upcoming automobiles comprise more luxury to enhance the comfort of the passengers and to sustain their position in the market as well which will further boost the sports utility vehicle market during the forecast period.
Key segments covered: Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Segments | Sub-segments |
 Type |
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 Fuel |
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 Price |
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 Seating Capacity |
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Key benefits of the report:
Questions answered in the sports utility vehicle market research report:
Sports Utility Vehicle Market Report Highlights
| Aspects | Details |
|---|---|
| By Type |
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| By Fuel type |
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| By Price |
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| By Seating Capacity |
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| By Region |
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| Key Market Players | Mahindra & Mahindra, Toyota Kirloskar Motor, Mitsubishi India, Ford India Private Limited, Renault India, Audi India, Honda Cars India, Mercedes-Benz India, Hyundai Motor India Limited, Maruti Suzuki |
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