Global Luxury SUV Market 2022-2026
Technavio has been monitoring the luxury SUV market and it is poised to grow by 1798.24 th units during 2022-2026, accelerating at a CAGR of 7.73% during the forecast period. Our report 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 of the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the increased preference for safety and comfort to drive sales of luxury SUVs, the rise in the HNWI population, and the rising preference for SUV model vehicles.
The luxury SUV market analysis includes type segment and geographic landscape.
Technavio's luxury SUV market is segmented as below:
- mid-size luxury SUVs
- full-size luxury SUVs
By Geographical Landscape
- North America
- South America
- Middle East and Africa
This study identifies the rapid development of electric luxury vehicles 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 increased technological updates within luxury SUVs to beat the competition 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 report on the 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 AB Volvo, Bayerische Motoren Werke AG, China FAW Group Co. Ltd., Ford Motor Co., General Motors Co, Honda Motor Co. Ltd., Hyundai Motor Group, Mahindra and Mahindra Ltd., Mazda Motor Corp, Mercedes Benz Group AG, Mitsubishi Motors Corp., Nissan Motor Co. Ltd., Renault SAS, SAIC Motor Corp. Ltd., Stellantis NV, Tata Motors Ltd, Tesla Inc., The BYD Motors Inc., Toyota Motor Corp, and Volkswagen AG. 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 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 accurate market growth.