The latest trend gaining momentum in the market is Rising number of electric luxury SUV models launched.
The analysts forecast global luxury SUV market to grow at a CAGR of 25.08% during the period 2017-2021.
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.
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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.
Major key players in the global luxury SUV market: Audi, BMW, Daimler, Jaguar Land Rover, Volvo, Acura, Alfa Romeo, Bentley, Cadillac, GMC, Infiniti, Lamborghini, Lexus, Lincoln, Maserati, Porsche, Rolls Royce, Tesla, Toyota, and Volkswagen.
According to the luxury SUV market 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. Inquire for this luxury SUV market at www.reportsnreports.com/contacts/d…spx?name=1263984.
Further, the luxury SUV market 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.
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Few Points from List of Exhibits:
Exhibit 1: Types of Suvs
Exhibit 2: Global Luxury Suv Market Segmentation
Exhibit 3: Global Luxury Suv Market 2016-2021 (Million Units)
Exhibit 4: Five Forces Analysis
Exhibit 5: Global Luxury Suv Market Segmented by Size 2016 (% Share)
Exhibit 6: Global Luxury Suv Market by Size 2016-2021 (Million Units)
Exhibit 7: Global Luxury Suv Market by Size 2016-2021 (%)
Exhibit 8: Global Luxury Suv Market by Full-Size Luxury Suvs 2016-2021 (Million Units)
Exhibit 9: Mid-Size Luxury Suvs Within Global Luxury Suv Market 2016-2021 (Million Units)
Exhibit 10: Global Luxury Suv Market by Geography 2016-2021 (Million Units)
Exhibit 11: Regional Comparison
Exhibit 12: Americas Market Size and Forecast 2016-2021 (Million Units)
Exhibit 13: Americas Year-Over-Year Growth 2017-2021 (%)
Exhibit 14: Top Three Countries In Americas
Exhibit 15: Emea Market Size and Forecast 2016-2021 (Million Units)
Exhibit 16: Emea Year-Over-Year Growth 2017-2021 (%)
Exhibit 17: Top Three Countries In Emea
Exhibit 18: Apac Market Size and Forecast 2016-2021 (Million Units)
Exhibit 19: Apac Year-Over-Year Growth 2017-2021 (%)
Exhibit 20: Top Three Countries In Apac