Global Luxury SUV market 2020-2024
Technavio has been monitoring the luxury SUV market and it is poised to grow by 1.59 mn units during 2020-2024 progressing at a CAGR of 7% during the forecast period. Our reports on the luxury SUV market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the rise in the HNWI population and increased preference for safety and comfort to drive sales of luxury SUVs. In addition, preference for safety and comfort is anticipated to boost the growth of the market as well.
The luxury SUV market analysis include type segment and geographic landscape.
Technavio's luxury SUV market is segmented as below:
- Mid-size luxury SUVs
- Full-size luxury SUVs
By Geographic Landscapes
- North America
- South America
This study identifies the technological updates within luxury SUVs to beat the competition as one of the prime reasons driving the luxury SUV market growth during the next few years. Also, the introduction of new luxury vehicle segments by manufacturers and the rapid development of electrified luxury vehicles will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our luxury SUV market covers the following areas:
- Luxury SUV market sizing
- Luxury SUV market forecast
- Luxury SUV market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading luxury SUV market vendors that include BMW AG, Daimler AG, Ford Motor Co., General Motors Co., Nissan Motor Co. Ltd., Tata Motors Ltd., Tesla Inc., Toyota Motor Corporation, Volkswagen AG, and Volvo Car Corp. Also, the luxury SUV market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.