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Luxury SUV Market by Type and Geography - Forecast and Analysis 2022-2026

  • Published: Aug 2022
  • Pages: 120
  • SKU: IRTNTR43718
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The luxury SUV market share is expected to increase by 1798.24 thousand units from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.73%.

This luxury SUV market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers luxury SUV market segmentation by type (mid-size luxury SUVs and full-size luxury SUVs) and geography (North America, APAC, Europe, South America, and the Middle East and Africa). The luxury SUV market report also offers information on several market vendors, including 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 among others.

What will the Luxury SUV Market Size be During the Forecast Period?

Luxury SUV Market Size

Download Report Sample to Unlock the Luxury SUV Market Size for the Forecast Period and Other Important Statistics

 

Luxury SUV Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and after post COVID-19 era. The preference for safety and comfort is notably driving the luxury SUV market growth, although factors such as the declining exclusivity of luxury cars may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the luxury SUV industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Luxury SUV Market Driver

One of the key factors driving growth in the luxury SUV market is the increased preference for safety and comfort to drive sales of luxury SUVs. Luxury vehicles are equipped with modern technology and feature updates to stand apart from even the fully equipped variants of commuter SUVs. However, the very image of luxury SUVs largely depends on the advertising by the vehicle manufacturer to showcase the vehicle as premium and elevate the social status of the buyers. Hence, automakers equip their luxury SUV models with the latest technologies, as these represent the brand image of the company. Luxury SUVs offer a much higher degree of safety and security to vehicle occupants. The increase in road accidents is expected to further highlight the importance of having additional safety features in luxury vehicles. This will make luxury SUVs more desirable to potential buyers. Governing bodies are striving to reduce the number of fatalities caused due to road accidents by mandating various safety features in vehicles. This will encourage vehicle manufacturers to equip their premium vehicles with advanced safety features ahead of the commuter segment vehicles to maintain the differences between luxury and commuter vehicles.

Key Luxury SUV Market Trend

The rapid development of electrified luxury vehicles is a luxury SUV market trend that is expected to have a positive impact in the coming years. The rising concern about reducing vehicular emissions is increasing the adoption of electrified vehicles, which include pure electric vehicles, plug-in hybrid electric vehicles, and hybrid electric vehicles. Electrified vehicles are gaining popularity among luxury vehicle manufacturers. BMW launched 10 electrified vehicle models (9 plug-in hybrid vehicles and 1 pure-electric vehicle). Furthermore, the company has announced its plans to launch 25 electrified vehicles (13 plug-in hybrid vehicles and 12 pure electric vehicles) by 2025. In addition, established luxury electric vehicle manufacturers, including Tesla, are increasing their product portfolio by introducing new electric vehicle models. In January 2019, Tesla announced the development of its next electric vehicle (Model Y crossover). Thus, the rapid adoption and development of luxury electric vehicles are expected to positively impact the global luxury SUV market shortly.

Key Luxury SUV Market Challenge

The declining exclusivity of luxury cars will be a major challenge for the luxury SUV market during the forecast period. The major factors driving the purchase of a luxury SUV are its exclusive features and the prestige associated with its ownership. However, the intensifying competition, rise in the number of luxury brands, and increasing demand for luxury SUVs have pushed luxury vehicle manufacturers to expand their businesses and sell to the mass segment through the same distribution channel as that for other segment vehicles. Though this does not affect the sales of these vehicles directly, the exclusivity declines. Another major differentiating factor for luxury SUVs is technologically advanced features. Nowadays, mid-segment SUVs are equipped with advanced emergency braking systems, collision avoidance warning, pedestrian detection, steering assist, blind-spot monitoring, heated seats, and sunroofs, which were previously exclusive to luxury vehicles. The availability of advanced features in mid-segment SUVs has diffused the exclusivity of luxury SUVs. This is expected to hamper the growth of the global luxury SUV market.

This luxury SUV market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global luxury SUV market as a part of the global automotive market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the luxury SUV market during the forecast period.

Who are the Major Luxury SUV Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • 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
  • Volkswagen AG

 

This statistical study of the luxury SUV market encompasses successful business strategies deployed by the key vendors. The luxury SUV market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • BMW AG - The company offers luxury SUVs such as X3, X5, and X7, among others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The luxury SUV market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Luxury SUV Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the luxury SUV market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Luxury SUV Market?

Luxury SUV Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

48% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for luxury SUVs in North America. Market growth in this region will be faster than the growth of the market in other regions.

The cheap credit decreased prices of fuel, and an increased requirement for effective means of personal mobility will facilitate the luxury SUV market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The market in focus was adversely affected by the outbreak of COVID-19 in 2020, which led to a decline in the sales of luxury SUVs in the region. The US was the economy most severely affected by the outbreak. The temporary shutdown of automotive manufacturing facilities negatively affected not only the production of vehicles but also the demand for related components. This resulted in a decline in demand for luxury SUVs.

What are the Revenue-generating Type Segments in the Luxury SUV Market?

Luxury SUV Market Share

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The luxury SUV market share growth in the mid-size luxury SUVs segment will be significant during the forecast period. Compact luxury SUVs are part of mid-size SUVs, and it is the dominating category in this segment. The major markets for mid-size luxury SUVs are Europe and APAC. Customers in APAC and European countries are cost-conscious and prefer vehicles that have a high fuel efficiency. Hence, vehicle manufacturers develop SUVs that are equipped with updated features such as turbochargers, inline modeled engines, updated vehicle electronic systems, and multimedia support. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the luxury SUV market size and actionable market insights on post COVID-19 impact on each segment.

 

Luxury SUV Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.73%

Market growth 2022-2026

1798.24 th units

Market structure

Fragmented

YoY growth (%)

5.44

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 48%

Key consumer countries

US, Canada, China, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

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

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Luxury SUV Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive luxury SUV market growth during the next five years
  • Precise estimation of the luxury SUV market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the luxury SUV industry across North America, APAC, Europe, South America, the Middle East, and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of luxury SUV market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 15: Chart on Global Market- Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market- Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Type

    • 5.1 Market segments
      • Exhibit 24: Chart on Type - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Type - Market share 2021-2026 (%)
    • 5.2 Comparison by Type
      • Exhibit 26: Chart on Comparison by Type
      • Exhibit 27: Data Table on Comparison by Type
    • 5.3 Mid-size luxury SUVs - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Mid-size luxury SUVs - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 29: Data Table on Mid-size luxury SUVs - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 30: Chart on Mid-size luxury SUVs - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Mid-size luxury SUVs - Year-over-year growth 2021-2026 (%)
    • 5.4 Full-size luxury SUVs - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Full-size luxury SUVs - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 33: Data Table on Full-size luxury SUVs - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 34: Chart on Full-size luxury SUVs - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Full-size luxury SUVs - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Type
      • Exhibit 36: Market opportunity by Type (thousand units)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 42: Chart on North America - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 APAC - Market size and forecast 2021-2026
      • Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 62: Chart on US - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 66: Chart on China - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 67: Data Table on China - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 Canada - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Canada - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 75: Data Table on Canada - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 76: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.12 UK - Market size and forecast 2021-2026
      • Exhibit 78: Chart on UK - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 (thousand units)
      • Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography (thousand units)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 AB Volvo
              • Exhibit 89: AB Volvo - Overview
              • Exhibit 90: AB Volvo - Business segments
              • Exhibit 91: AB Volvo - Key offerings
              • Exhibit 92: AB Volvo - Segment focus
            • 10.4 Bayerische Motoren Werke AG
              • Exhibit 93: Bayerische Motoren Werke AG - Overview
              • Exhibit 94: Bayerische Motoren Werke AG - Business segments
              • Exhibit 95: Bayerische Motoren Werke AG - Key news
              • Exhibit 96: Bayerische Motoren Werke AG - Key offerings
              • Exhibit 97: Bayerische Motoren Werke AG - Segment focus
            • 10.5 Ford Motor Co.
              • Exhibit 98: Ford Motor Co. - Overview
              • Exhibit 99: Ford Motor Co. - Business segments
              • Exhibit 100: Ford Motor Co. - Key news
              • Exhibit 101: Ford Motor Co. - Key offerings
              • Exhibit 102: Ford Motor Co. - Segment focus
            • 10.6 General Motors Co
              • Exhibit 103: General Motors Co - Overview
              • Exhibit 104: General Motors Co - Business segments
              • Exhibit 105: General Motors Co - Key news
              • Exhibit 106: General Motors Co - Key offerings
              • Exhibit 107: General Motors Co - Segment focus
            • 10.7 Mercedes Benz Group AG
              • Exhibit 108: Mercedes Benz Group AG - Overview
              • Exhibit 109: Mercedes Benz Group AG - Business segments
              • Exhibit 110: Mercedes Benz Group AG - Key offerings
              • Exhibit 111: Mercedes Benz Group AG - Segment focus
            • 10.8 Nissan Motor Co. Ltd.
              • Exhibit 112: Nissan Motor Co. Ltd. - Overview
              • Exhibit 113: Nissan Motor Co. Ltd. - Business segments
              • Exhibit 114: Nissan Motor Co. Ltd. - Key news
              • Exhibit 115: Nissan Motor Co. Ltd. - Key offerings
              • Exhibit 116: Nissan Motor Co. Ltd. - Segment focus
            • 10.9 Tata Motors Ltd
              • Exhibit 117: Tata Motors Ltd - Overview
              • Exhibit 118: Tata Motors Ltd - Business segments
              • Exhibit 119: Tata Motors Ltd - Key news
              • Exhibit 120: Tata Motors Ltd - Key offerings
              • Exhibit 121: Tata Motors Ltd - Segment focus
            • 10.10 Tesla Inc.
              • Exhibit 122: Tesla Inc. - Overview
              • Exhibit 123: Tesla Inc. - Business segments
              • Exhibit 124: Tesla Inc. - Key offerings
              • Exhibit 125: Tesla Inc. - Segment focus
            • 10.11 Toyota Motor Corp
              • Exhibit 126: Toyota Motor Corp - Overview
              • Exhibit 127: Toyota Motor Corp - Business segments
              • Exhibit 128: Toyota Motor Corp - Key news
              • Exhibit 129: Toyota Motor Corp - Key offerings
              • Exhibit 130: Toyota Motor Corp - Segment focus
            • 10.12 Volkswagen AG
              • Exhibit 131: Volkswagen AG - Overview
              • Exhibit 132: Volkswagen AG - Business segments
              • Exhibit 133: Volkswagen AG - Key offerings
              • Exhibit 134: Volkswagen AG - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 135: Inclusions checklist
                • Exhibit 136: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 137: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 138: Research methodology
                • Exhibit 139: Validation techniques employed for market sizing
                • Exhibit 140: Information sources
              • 11.5 List of abbreviations
                • Exhibit 141: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Luxury SUV market growth will increase by $1798.24 thousand units during 2022-2026.
              The luxury suv market is expected to grow at a CAGR of 7.73% during 2022-2026.
              Technavio has segmented the luxury suv market by type (Mid-size luxury SUVs and Full-size luxury SUVs) and geographic (North America, APAC, Europe, South America, and Middle East and Africa).
              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, Volkswagen AG are a few of the key vendors in the luxury suv market.
              North America will register the highest growth rate of 47.5% among the other regions. Therefore, the luxury suv market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              • US
              • Canada
              • China
              • Germany
              • UK
              The key factors driving the luxury suv market growth are:
              • Increased preference for safety and comfort to drive sales of luxury SUVs
              • Rapid development of electric luxury vehicles
              The luxury suv market vendors should focus on grabbing business opportunities from the mid-size luxury suvs segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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