SUV Market to Witness Sales Slump in Near Term Due to COVID-19; Long-term Outlook Remains Positive

Automotive

Future Market Insights’ research on the SUV market offers a comprehensive overview for the forecast period of 2021-2031. It uncovers hidden opportunities and studies growth trajectory across various segments. The study also offers an unbiased analysis by analyzing historical demand and future projections from a bird’s eye perspective. The report identifies some of the lucrative markets across the globe. FMI delivers an insightful coverage on the SUV markets’ latest trends, drivers, challenges, opportunities and restraints that the market is expected to prevail in the upcoming decade.

According to the study, the automotive industry is expected to witness a healthy growth backed by the technological advancements. Leading players are expected to launch unique driving techniques to strengthen their footprint. This will have a positive impact on the SUV market. The report covers the ‘Highs and Lows’ of the past decade and gives future projections based on the latest trend in the automotive industry.

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COVID-19 Impact on Automotive Industry

With the onset of COVID-19, the automotive companies and market players witnessed a few set-backs. As the COVID-19 crisis continues to unfold, FMI delivers detailed and rapid insights to navigate through the crisis. The report presents in-depth findings obtained through innovative methodology. Information presented in the report, is interspersed with up-to-date statistics. Data available on the SUV market is intended to aid both short-term and long-term strategic decision making. The report also offers a holistic overview, mapping the factors, opportunities and trends likely to help in the wake of the coronavirus pandemic.

The COVID-19 outbreak had a swift and severe impact on the automotive sector. Affects included disruption in supply chain activities and overall vehicle production. Starting in China, vehicle and vehicle part manufacturers around the world either placed their production lines on quarantine or shut down completely. This led to severe impact on automotive sales, thus hindering the SUV market.

However, with recovery already registered in certain countries, future prospects are expected to improve for the SUV market.

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SUV Market: Competitive Analysis

The report on the SUV market report offers a detailed analysis of some of the leading players operating in the market. It examines the impact of key strategies adopted by the market players, which include product launches, expansion of distribution channels, leveraging local networks, strategic mergers & acquisitions, and others.

Key players covered in the report include:

  • Renault India
  • Maruti Suzuki
  • Hyundai Motor India Limited
  • Toyota Kirloskar Motor
  • Nissan Motor India Private Limited
  • Honda Cars India
  • Ford India Private Limited

Critical Questions Answered in the Report

  • Which are the top manufacturing companies operating in the SUV market?
  • What will be the future outlook of the SUV market in the upcoming decade?
  • Which are the some of the lucrative markets for SUV market?
  • Which factors will drive the SUV market growth?
  • What are the challenges faced by the prominent players of the global SUV market?

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Significant Contributions of the Report

  • Key Trends and Challenges: Detailed analysis on the ‘ins and outs’ of the market with qualitative research and quantitative insights
  • Recent Drivers and Opportunities: Detailed assessment on the key growth drivers, technological developments, and factors affecting the market over the forecast period.
  • Segmental Analysis: Extensive research on each segment and sub-segment, compiled by expert research analysts of FMI
  • Regional Market Forecast: Thorough analysis of each regional market to provide market players with real-time data and reliable statistic to gain a competitive edge in the industry
  • Competitive Landscape: Comprehensive analysis on prominent players and new entrants eyeing to improve their revenue prospects in the industry