Global Sports Utility Vehicle Market Overview:
A sports utility vehicle is a passenger vehicle that combines passenger-carrying and load-hauling abilities with the usefulness of a lightweight pickup truck. Most sports utility vehicles are designed to have an engine compartment, approximately square cross-section, and a combined cargo and passenger compartment. Most full-size and mid-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 United States region. Various factors have contributed to the growth of this kind of vehicle. Generally sports utility vehicles are perceived to offer a broad range of capabilities: power, performance, cargo room, better sightlines, functionality, luxury, and safety. As a result, sports utility vehicles charm a wide gamut of drivers.
Growth Drivers
- Increasing Demand for Performance and Versatility in Automobiles along with the Need for Luxuriant Personal Mobility.
- Growing Focus of Manufacturers to Produce Sportier Cars with Safety, Security, and Infotainment Systems
Market Trends
- Manufacturers are Focusing to Develop Entry-Level, Small Size, and Medium-Sized SUVs
Roadblocks
- High Cost of Sports Utility Vehicle
Opportunities
- Technological Advancement and Development of Creative Design, Advanced Features, Along with Fuel-efficient Engines
Challenges
- Stringent Emission Control and Fuel Efficiency Standards
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Ford Motor Company (United States), General Motors (United States), Daimler AG. (Germany), Toyota Motor Company (Japan), Volkswagen (Germany), Honda Motor (Japan), BMW AG (Germany), Hyundai Motor Company (South Korea), Nissan Motor (Japan), Tata Motors Ltd. (India) and Jeep LLC (United States). Additionally, following companies can also be profiled that are part of our coverage like Mitsubishi Motors Corporation (Japan), BYD Auto Co. Ltd (China) and Mahindra & Mahindra Ltd. (India). Analyst at AMA Research see Asian and United States Vendors to retain maximum share of Global Sports Utility Vehicle market by 2026. Considering Market by Seating Capacity, the sub-segment i.e. 5 Seater will boost the Sports Utility Vehicle market. Considering Market by Fuel Type, the sub-segment i.e. Diesel will boost the Sports Utility Vehicle market.
Latest Market Insights:
On 18th April 2019, Mahindra Group and Ford Motor Company have taken the next step in strengthening their ongoing strategic alliance in India with a definitive agreement to co-develop a midsize sports utility vehicle (SUV).
What Can be Explored with the Sports Utility Vehicle Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Sports Utility Vehicle Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Sports Utility Vehicle
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Sports Utility Vehicle market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Sports Utility Vehicle market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Sports Utility Vehicle Manufacturers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.