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Data Bridge Market Research has unveiled a new report called “Sport Utility Vehicle (SUV) Market“ which provides an in-depth exploration of growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis, and the competitive landscape. The Sport Utility Vehicle (SUV) marketing report offers an in-depth investigation of the market driving factors, opportunities, restraints, and challenges for obtaining crucial insight of the market. Such a brilliant report has been prepared by a team of enthusiastic analysts, skilled researchers, and experienced forecasters who work meticulously for the same. The wide-ranging market research report presents intelligent solutions to versatile business challenges and instigates an effortless decision-making process.
Data Bridge Market Research analyses that the sport utility vehicle (SUV) market is expected to reach USD 124.63 billion by 2030, which is USD 39.99 billion in 2022, at a CAGR of 15.30% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Access an Exclusive Sample of Sport Utility Vehicle (SUV) Market Report @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-suv-market
Key Opportunities
- Rising concerns regarding safety among consumers
Growing concern about safety is one of the major factors that will create immense opportunities for market growth. Sport utility vehicle (SUV) are equipped with active safety features such as Anti-Lock Brake System (ABS), traction control (ASR), Advanced driver-assistance systems (ADAS), Tire-Pressure Monitoring System (TPMS) and torque vectoring, these systems are providing maximum safety to the driver. For instance, Audi launched the AudiQ3 SUV vehicles in 2017, which was integrated with advanced technologies such as Anti-lock Brake System (ABS), Electromechanical Parking Brake and Tire-pressure Monitoring System (TPMS). Increasing inclination towards adopting vehicles with safety features among consumers, due to growing road accidents, is anticipated to boost the market growth worldwide.
Noteworthy Players Operating at Regional and Global Levels:
- Ford Motor Company (U.S.)
- General Motors (U.S.)
- AUDI AG (Germany)
- Kia Motors Corporation (South Korea)
- Groupe Renault (France)
- Groupe PSA (France)
- SAIC Motor Corporation Limited (China)
- Tesla (U.S.)
- Daimler AG (Germany)
- BMW AG (Germany)
- Hyundai Motor Company (South Korea)
- BYD Company Ltd. (China)
- Continental AG (Germany)
- TOYOTA MOTOR CORPORATION (Japan)
- Nissan Motor Co., LTD. (Japan)
- Volkswagen AG (Germany)
- AB Volvo (Sweden)
- Honda Motor Co., Ltd. (Japan)
Recent Development:
- In 2022, Suzuki Motor Corporation and Toyota Motor Corporation, have announced plans to stsrt manufacturing of hybrid SUV vehicles. The alliance influences Suzuki’s capability in compact vehicles and Toyota’s expertise in electrification for wider adoption and combined manufacturing of EVs. Thus, this is eventually going to help in market growth.
- In 2022, Honda Motor Co., Ltd. launched a ZR-V, an all-new SUV. All-new ZR-V adopts elegant and smart design, making this model fit for urban environments. This hybrid model of all-new ZR-V will be the first Honda sport utility vehicle (SUV) to be prepared with Sports e:HEV that combines a 2.0-liter direct injection engine and the advanced 2-motor hybrid system (e-CVT).
Market Segmentation of Sport Utility Vehicle (SUV) Market:
Type
- SUV-C
- SUV-D
- SUV-E
- SUV-F
Fuel Type
- Petrol
- Diesel
- Electric SUV
Size
- Mini-SUV
- Compact
- Mid-Size
- Full-Size
- Extended-Length
Seating Capacity
- 5 Seater
- 7 Seater
- 8 and above Seater
Price Range
- Medium
- Premium
Application
- Remote Areas
- Recreation
- Motorsport
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