COVID-19 Pandemic Impact on Luxury SUV Market 2020-2024 |Technavio - Business Wire

LONDON--(BUSINESS WIRE)--Technavio has been monitoring the luxury SUV market and it is poised to grow by 1.59 million units during 2020-2024, progressing at a CAGR of about 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19

Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries. However, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a Low impact on the luxury SUV market. The market growth in 2020 is likely to Decrease compared to the market growth in 2019.

Frequently Asked Questions-

• What are the major trends in the market?

• Rising production rate of electric luxury SUV models is one of the major trends in the market.

• At what rate is the market projected to grow?

• Growing at a CAGR of about 7%, the incremental growth of the market is anticipated to be 1.59 million units.

• Who are the top players in the market?

• BMW AG, Daimler AG, Ford Motor Co., General Motors Co., Nissan Motor Co. Ltd., Tata Motors Ltd., Tesla Inc., Toyota Motor Corporation, Volkswagen AG, and Volvo Car Corp. are some of the major market participants.

• What are the key market drivers and challenges?

• Preference for safety and comfort is one of the major factors driving the market. However, rising preference for top variants of budget car brands restraints the market growth.

• How big is the North America market?

• The North America region will contribute 54% of market growth.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. BMW AG, Daimler AG, Ford Motor Co., General Motors Co., Nissan Motor Co. Ltd., Tata Motors Ltd., Tesla Inc., Toyota Motor Corporation, Volkswagen AG, and Volvo Car Corp. are some of the major market participants. The preference for safety and comfort will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this luxury SUV market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Luxury SUV Market 2020-2024: Segmentation

Luxury SUV Market is segmented as below:

• Type
  • Mid-size Luxury SUVs
  • Full-size Luxury SUVs
• Geography
  • North America
  • APAC
  • Europe
  • South America
  • MEA

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43718

Luxury SUV Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The luxury SUV market report covers the following areas:

• Luxury SUV Market Size
• Luxury SUV Market Trends
• Luxury SUV Market Analysis

This study identifies the rising production rate of electric luxury SUV models as one of the prime reasons driving the luxury SUV market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Luxury SUV Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist luxury SUV market growth during the next five years
• Estimation of the luxury SUV market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the luxury SUV market
• 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

Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Type

• Market segments
• Comparison by Type
• Mid-size luxury SUVs - Market size and forecast 2019-2024
• Full-size luxury SUVs - Market size and forecast 2019-2024
• Market opportunity by Type

Customer Landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Volume drivers – Demand led growth
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• BMW AG
• Daimler AG
• Ford Motor Co.
• General Motors Co.
• Nissan Motor Co. Ltd.
• Tata Motors Ltd.
• Tesla Inc.
• Toyota Motor Corporation
• Volkswagen AG
• Volvo Car Corp.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

   

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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