PUNE,India, February 24, 2016 /PRNewswire/ --
The report "SUV Market Trend Analysis by Production, Sale & Type (SUV, Sub-Compact SUV, Crossover, MPV), Demographics & Economy (Population, Median Age, Per Capita Income, Unemployment Ratio & their Correlation Coefficient), & by Competitive Benchmarking - Forecast to 2020", The global market is projected to reach 30.2 Million Units by 2020, growing at a CAGR of 5.36% during the forecast period.
Browse 46 market data Tables and 27 Figures spread through 124 Pages and in-depth TOC on "SUV Market"
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The SUV and sub-compact SUV Market have witnessed considerable growth in countries such as the U.S., China, India, and Mexico, owing to its low cost and compactness (compared to full-sized SUVs), stylistic design, and high manoeuvrability.
Sub-compact SUV: Gaining popularity
The growing demand for sub-compact SUVs can be attributed to the various advantages offered by the vehicle segment, including greater fuel efficiency than passenger cars due to its small engine, compact body (as compared to full-sized SUVs) and excise duty rebate in a majority of countries. In India, sub-4 meter vehicles have 8% excise duty, compared to 27% for vehicles that are over 4 meters in length. Similarities between the sub-compact SUV and the SUV segment include high H-point, unibody construction, and high ground clearance.
Asia-Oceania: Driving the market for SUVs and sub-compact SUVs
The Asia-Oceania SUV and sub-compact SUV Market is poised to register the highest CAGR during the forecast period. This can be primarily attributed to the strong state support, availability of economical domestic resources, and emerging economies in the region, particularly China and India. Major OEMs are investing heavily in the region, prompted by factors such as young demographics and the expanding middle class. The production of SUVs and sub-compact SUVs is expected to increase in countries such as China and India, owing to availability of cost-effective labor and favorable government policies. For instance, the Government of India has allowed 100% foreign direct investment (FDI) with no minimum investment criteria for the automotive sector. Asia-Pacific houses OEMs such as Toyota Corporation (Japan), Hyundai Motor Company (South Korea), and Honda Motor Company (Japan). Additionally, certain countries in the region, such as South Korea and Japan, have strong technological capabilities.
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The report lists key models from all major players in the global SUV Market, including Ford Motor Company (the U.S.), Toyota Corporation (Japan), Honda Motor Company (Japan), Hyundai Motor Company (South Korea), and General Motors (the U.S.).
The report covers the global SUV and sub-compact SUV Market, in terms of volume ('000 units). It explains the qualitative and quantitative aspects of the market on the basis of vehicle type and region, and provides an impact analysis on stakeholders and trends from 2013 to 2020. It also highlights the features of top-selling models in the segment, such as safety and luxury provisions, engine codes, and platforms incorporated through model-mapping techniques. Analysis of data related to trends, and demographic and economic factors is backed by statistical correlations to validate research findings.
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