The “Global Luxury SUV Market 2017-2021” report has been added to Research and Markets’ offering.
The global luxury SUV market to grow at a CAGR of 25.08% during the period 2017-2021.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is Rising number of electric luxury SUV models launched. Electric vehicles are predominantly sedans and hatchbacks. SUVs and crossover type SUVs are at a disadvantage because these are bulky and require a significant amount of power to operate. A high-power consumption also limits the effective driving range of these vehicles. However, improvements in the manufacturing processes of electric batteries and a rise in the number of charging stations, especially in developed countries, have raised the confidence of vehicle manufacturers to produce and launch electric luxury SUV models.
According to the report, one of the major drivers for this market is Rising preference for SUV model vehicles. SUVs are high power vehicles that have higher seating, ground clearance, the center of gravity, and can generally travel on off-road conditions. They have a higher seating capacity and higher safety due to a large number of safety features, which are standard fitment in such vehicles.
The Americas is the most favorable market for SUV model vehicles due to the cheap availability of credit, low fuel prices, and technological advances of these vehicles. The increased preference for SUVs will drive the luxury SUV market during the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is Rising preference for top variants of budget car brands. Auto OEMs in Europe are using their budget car variants to capture the passenger car market.
The majority of the sales of passenger cars in Europe was contributed by the budget car brands in 2016. Budget car brands are developed and launched majorly as strategic business units of the parent vehicle manufacturer. For instance, Skoda is owned by Volkswagen AG, and Dacia is owned by Renault. In 2016, the sales of Dacia vehicles increased by 30%, and the sales of Skoda increased by 20%. The rising popularity of budget car brands and the lack of significant differences between luxury and top variants of ordinary commuter vehicles will limit the demand for luxury vehicles like luxury SUVs during the forecast period.
– Jaguar Land Rover
Other Prominent Vendors:
– Alfa Romeo
– Rolls Royce
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation by Size
Part 07: Regional Landscape
Part 08: Decision Framework
Part 09: Drivers and Challenges
Part 10: Market Trends
For more information about this report visit https://www.researchandmarkets.com/research/kwtbxh/global_luxury_suv?w=3