Market Overview:
The global luxury SUV market is expected to grow at a CAGR of 5.5% during the forecast period 2018-2030. The market growth can be attributed to the increasing demand for luxury SUVs from individual and commercial consumers across the globe. Additionally, factors such as rising disposable income, changing lifestyle trends, and growing urbanization are also propelling the growth of this market. The mini SUV segment is projected to grow at a CAGR of 6% during the forecast period due to its affordable price range as compared to other segments in the luxury SUV market. The compact SUV segment is expected to witness highest growth rate during 2018-2030 owing to its features such as spacious interiors and fuel efficiency. The full-size SUV segment dominated the global luxury SUV market in 2017.
Product Definition:
A Luxury SUV is a vehicle that is typically larger, more expensive and has more features than a typical SUV. They are often marketed to wealthy buyers as a status symbol.
Mini SUV:
Mini SUV is a vehicle that can be driven by a person with an adequate driving license and has the ability to carry at least four passengers. The global mini SUV market size was valued at USD 28,15,858 thousand in 2016 and is expected to grow significantly over the forecast period. The increasing demand for these vehicles from corporate companies on account of their high degree of comfortability is one of the key factors responsible for market growth.
Compact SUV:
Compact SUV is a vehicle that can be driven by five people and has seating for seven. The compact SUV market includes vehicles such as Nissan Murano, Toyota RAV4, Ford Edge, Kia Sorento. These are used for small families or two adults along with three kids or four people. Compact SUVs are popular in North America and Europe due to the presence of large number of prominent players offering their products in these regions.
Application Insights:
The commercial application segment dominated the global luxury SUV market, accounting for more than 70.0% share of the total revenue in 2017. The segment is expected to witness significant growth over the forecast period owing to increasing demand from corporate customers and high-net-worth individuals (HNWI). HNWI are increasingly opting for full-sized SUVs as they offer superior utility and comfort along with a higher level of safety as compared to other vehicles suitable for family transportation.
The individual application segment accounted for a revenue share of more than 25.0% in 2017 due to growing preference among consumers towards smaller passenger cars as opposed to mid or full sized sedans that are commonly used by them on a daily basis at work places or during social occasions such as weddings or business meetings.
Regional Analysis:
Asia Pacific dominated the global luxury SUV market in 2017 with more than 35.0% share of the total revenue. This is attributed to growing product demand in countries, such as China and India. The rising purchasing power of consumers and rapid urbanization are also supporting regional growth. Furthermore, increasing investments by international manufacturers for developing new products will boost industry expansion over the forecast period.
Europe accounted for a significant share of global sales in 2017 owing to high demand from Germany, Italy, France, U.K.
Growth Factors:
- Increasing disposable income of the affluent population: The luxury SUV market is expected to grow as the affluent population continues to increase in number. This is because luxury SUVs offer a lot of features and amenities that are not available in other vehicles, making them a status symbol for those who can afford them.
- Rising demand from emerging markets: A large portion of the growth in the luxury SUV market is expected to come from emerging markets such as China and India, where there is a growing middle class with increasing purchasing power.
- Advances in automotive technology: Luxury SUVs are becoming increasingly popular due to advances in automotive technology, which has made these vehicles more fuel-efficient and stylish than ever before. This has led to an increase in demand for high-end SUVs among consumers who want the latest and greatest features available on the market.
- Growing popularity of crossover vehicles: Crossover vehicles have become increasingly popular over recent years, as they offer many of the benefits of both cars and SUVs while being more affordable than traditional luxury SUVs. As a result, this is likely to lead more consumers towards purchasing crossover models instead of traditionalSUVs within this segmented market . 5
Scope Of The Report
Report Attributes
Report Details
Report Title
Luxury SUV Market Research Report
By Type
Mini SUV, Compact SUV, Mid-Size SUV, Full-Size SUV, Extended-Length SUV
By Application
Individual, Commercial
By Companies
Audi, BMW, Daimler, Jaguar Land Rover, Volvo, Acura, Alfa Romeo, Bentley, Cadillac, GMC, Audi
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
140
Number of Tables & Figures
98
Customization Available
Yes, the report can be customized as per your need.
Global Luxury SUV Market Report Segments:
The global Luxury SUV market is segmented on the basis of:
Types
Mini SUV, Compact SUV, Mid-Size SUV, Full-Size SUV, Extended-Length SUV
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Individual, Commercial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Audi
- BMW
- Daimler
- Jaguar Land Rover
- Volvo
- Acura
- Alfa Romeo
- Bentley
- Cadillac
- GMC
- Audi
Highlights of The Luxury SUV Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Mini SUV
- Compact SUV
- Mid-Size SUV
- Full-Size SUV
- Extended-Length SUV
- By Application:
- Individual
- Commercial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Luxury SUV Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A luxury SUV is a type of vehicle that typically has a higher price tag than other types of SUVs. Luxury SUVs may have features such as leather seats, air conditioning, and powerful engines.
Some of the major companies in the luxury suv market are Audi, BMW, Daimler, Jaguar Land Rover, Volvo, Acura, Alfa Romeo, Bentley, Cadillac, GMC, Audi.
The luxury suv market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Luxury SUV Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Luxury SUV Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Luxury SUV Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Luxury SUV Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Luxury SUV Market Size & Forecast, 2018-2028
4.5.1 Luxury SUV Market Size and Y-o-Y Growth
4.5.2 Luxury SUV Market Absolute $ Opportunity
Chapter 5 Global Luxury SUV Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Luxury SUV Market Size Forecast by Type
5.2.1 Mini SUV
5.2.2 Compact SUV
5.2.3 Mid-Size SUV
5.2.4 Full-Size SUV
5.2.5 Extended-Length SUV
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Luxury SUV Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Luxury SUV Market Size Forecast by Applications
6.2.1 Individual
6.2.2 Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Luxury SUV Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Luxury SUV Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Luxury SUV Analysis and Forecast
9.1 Introduction
9.2 North America Luxury SUV Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Luxury SUV Market Size Forecast by Type
9.6.1 Mini SUV
9.6.2 Compact SUV
9.6.3 Mid-Size SUV
9.6.4 Full-Size SUV
9.6.5 Extended-Length SUV
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Luxury SUV Market Size Forecast by Applications
9.10.1 Individual
9.10.2 Commercial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Luxury SUV Analysis and Forecast
10.1 Introduction
10.2 Europe Luxury SUV Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Luxury SUV Market Size Forecast by Type
10.6.1 Mini SUV
10.6.2 Compact SUV
10.6.3 Mid-Size SUV
10.6.4 Full-Size SUV
10.6.5 Extended-Length SUV
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Luxury SUV Market Size Forecast by Applications
10.10.1 Individual
10.10.2 Commercial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Luxury SUV Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Luxury SUV Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Luxury SUV Market Size Forecast by Type
11.6.1 Mini SUV
11.6.2 Compact SUV
11.6.3 Mid-Size SUV
11.6.4 Full-Size SUV
11.6.5 Extended-Length SUV
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Luxury SUV Market Size Forecast by Applications
11.10.1 Individual
11.10.2 Commercial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Luxury SUV Analysis and Forecast
12.1 Introduction
12.2 Latin America Luxury SUV Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Luxury SUV Market Size Forecast by Type
12.6.1 Mini SUV
12.6.2 Compact SUV
12.6.3 Mid-Size SUV
12.6.4 Full-Size SUV
12.6.5 Extended-Length SUV
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Luxury SUV Market Size Forecast by Applications
12.10.1 Individual
12.10.2 Commercial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Luxury SUV Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Luxury SUV Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Luxury SUV Market Size Forecast by Type
13.6.1 Mini SUV
13.6.2 Compact SUV
13.6.3 Mid-Size SUV
13.6.4 Full-Size SUV
13.6.5 Extended-Length SUV
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Luxury SUV Market Size Forecast by Applications
13.10.1 Individual
13.10.2 Commercial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Luxury SUV Market: Competitive Dashboard
14.2 Global Luxury SUV Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Audi
14.3.2 BMW
14.3.3 Daimler
14.3.4 Jaguar Land Rover
14.3.5 Volvo
14.3.6 Acura
14.3.7 Alfa Romeo
14.3.8 Bentley
14.3.9 Cadillac
14.3.10 GMC
14.3.11 Audi
