Strategic Insights Into the Global SUV Market

Strategic Insights Into the Global SUV Market

  • April 2021 •
  • 42 pages •
  • Report ID: 6064410 •
  • Format: PDF
The SUV is no longer just a utilitarian off-roader whose sole purpose is to transport goods and other essentials over hostile terrain. Over time, these vehicles have evolved and have started playing other roles as well, primarily as people carriers in urban and suburban areas; they are also used to make a statement of social standing in some regions/markets. The United States and China will continue to account for the major share of SUV sales; as a result, manufacturers must focus on designing and producing vehicles for these 2 markets. Indian SUV manufacturers have started offering vast upgrades and facelifts to their best-selling models, banking on the growth of the country’s SUV market.Owing to the large space available in SUVs, the conversion of SUVs from IC engine-powered vehicles to battery electric vehicles (BEVs) is a possibility that can be explored. Skateboard platforms offer an excellent foundation to build on. Traditional SUVs account for a large carbon footprint; therefore, the need for a fully electric SUV is imminent. As a result, the need for battery R&D will be high and the pressure on battery supply chains will increase.It is important to build partnerships with technology firms to outsource automotive software and cloud-based computing, among other IT parameters. New mobility services and business models must be considered when looking to explore new avenues of vehicle sales and leasing.SUV manufacturers will have to realign their goals with future technology trends and customer demands to make suitable investments and ensure growth. R&D must be split between urban SUVs and off-roaders to diminish cost and reduce time to market.