SUV Market Trend Analysis: Technological Advancements and Future Opportunities and Current Industry Trends

SUV & sub-compact SUVs market in terms of production, is projected to reach 30.2 million units by 2020, growing at a CAGR of 5.36%. The SUV & sub-compact SUV market has witnessed considerable growth in countries such as the U.S., China, India, and Mexico, owing to the low cost, compact size, stylistic design, and better maneuverability among others.

Increase in Socio economic conditions to boost the SUV’s market

The economic conditions in the U.S. have improved over the past five years. The country’s consumer confidence and aggregate consumption demand are on the rise. This can be attributed to the decreasing unemployment rate and increasing level of wages. The U.S. economy grew by 2.4% in 2014%—the highest since the 2008 financial crisis. This is driving the automotive market in the North American region. Similarly, the Indian economy is picking up, and is propelling the growth of the automotive industry in Asia-Oceania. China is currently going through economic adjustments. However, industry experts predict that the Chinese economy will stabilize in the long run and project steady growth figures for its automotive industry. As per the data of China Association of Automobile Manufacturers, automotive sales are increasing. Sales of SUVs, MPVs and cars increased by 9.6% in January 2016 from January 2015. This highlights that irrespective of slowing global demand growth, China’s domestic demand for vehicles is strong. The growth of the SUV segment is also influenced by falling oil prices, especially in the U.S., and cheaper credit. The segment is set to witness substantial growth in India.

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The following are the major objectives of the study.

To identify the country- and region-level trends, factors influencing these trends and analyze their impact on the global SUV & sub-compact SUV market
To analyze, and segment the global SUV & sub-compact SUV market
To provide market sizing and forecast (2013–2020) of SUV & sub-compact SUV market size, in terms of volume (million units)
To segment the market for automotive SUVs & sub-compact SUV and forecast the market size, by volume, with respect to key countries, and regions
To segment and forecast the automotive SUV & sub-compact SUV market, in terms of volume, by vehicle type such as SUV, sub-compact SUV, Crossover and MPV
To analyze, correlate the trends for SUV & sub-compact SUV production and sales with demographics and end-use (application)
To analyze the trends for SUV & sub-compact SUV market with respect to dimensions, curb weight, cargo volume, Manufacturer Suggested Retail Price (MSRP), Miles Per Gallon(MPG), engine size & code, and platform
To provide an analysis of roadmap and competitive benchmarking in the SUV & sub-compact SUV market.

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Major market Development

Toyota New Global Architecture is a new invention which integrates development approach for powertrain components and vehicle platforms with the goal of reducing resources required for development by 20 percent. This creates a lower center of gravity, on making components lighter and more compact, and on applying unified design through modularization. Toyota plans to first increase overall body rigidity by as much as 30 to 65 percent.
Vitara Brezza meets offset and side impact crash tests that come into force in India in 2017. It is the first vehicle in India to be certified by homologation agency, for meeting these future regulations. It is available in diesel variant. Company is working on petrol trim.
Cadillac XT5 is a successor of SRX. It has start/stop engine options, with cylinder deactivation. It will be pared with eight-speed automatic transmission with an electronic control shifter. This is first for Cadillac. Chinese models will have turbo 2.0L four-cylinder engine and AWD. It will begin production in US and China in spring 2016. XT5 is Cadillac’s first crossover and will be 300 pounds lighter. It is built at GM’s plant at Tennessee.

Target Audience

Manufacturers of SUV, sub-compact-SUV, Crossovers, and MPV
Component suppliers to the aforementioned vehicle types
Dealers and distributors
Automotive industry associations
Investment firms
Equity research firms
Private equity firms
Governments and regulatory authorities

Scope Of The Report

By Vehicle Type (SUV, sub-compact SUV, crossover, and MUV/MPV)
Roadmap (by region and by vehicle type)
Competitive Benchmarking
Demographics
By Region (North America, Asia-Oceania, Europe, and RoW)

Critical questions the report answers:

Which new regions, SUV’s manufacturers are exploring for potential business avenues?
Which are the key players in the market and how intense is the competition?
Where will all these developments take the industry in the mid to long term?
How will the new advancement affect the SUV’s market?

The buying behavior and consumer preferences could adversely affect the SUV & sub-compact SUVs market. The main challenge faced by OEM or other manufacturers is when the fuel costs increase. Since most of the SUVs have a lower fuel efficiency, it affects the buying preference of the end-users, as they would prefer buying small or compact car which would provide a better fuel efficiency. The increase in the raw material prices is also one of the biggest constraints for the automobile manufacturers, as it is generally difficult to pass the full extent of increased prices for manufactured components and raw materials onto customers in the form of price increases. Even if passed on to some extent, the recovery is typically on a delayed basis.

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