Market
Scope
The global crossover vehicles market is
expected to rise at a CAGR of 9% over the forecast period. Low fuel emissions
and focus on fuel efficiency can influence the sales of crossover vehicles. The
high ride height is also responsible for its high sales in beginner families.
Combination of vehicular comfort and fuel efficiency can entice customers
towards CUVs. The all-wheel drive technology which provides additional storage
space is one of the best features in crossover vehicles.
Low maintenance costs of these vehicles and sales of these
vehicles in Argentina, Singapore, China, and India can lead to many automakers
marketing their latest CUVs in these countries. High disposable income levels
and purchasing power of consumers in developing economies can favor the global
crossover vehicles market. Technological strides in the automotive industry
have led to the adoption of the crossover design in electric and hybrid
vehicles. Development of autonomous vehicles like the Nissan IMx which blends
the best of Japanese culture and design for providing security and comfort to
the driver and passengers is a prime example.
But the high costs of these vehicles can limit the market
growth.
Competitive
Outlook
Ford Motor Company, Mazda Motor Corporation, Nissan Motor
Company Ltd, Honda Motor Company, Ltd., and Toyota Motor Corporation, and
others are key players in the global crossover vehicles market.
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Segmentation
On the basis of type, the market has been segmented into
small size, mid-size, and large size.
On the basis of drive type, the market has been segmented
into all-wheel drive, front wheel, and rear wheel. The all-wheel drive
technology is expected to gain the lead in the market over the forecast period
due to its ability of distributing torque.
On the basis of fuel type, the market has been segmented into
petrol and diesel. The petrol segment is likely to take the lead owing to
various automakers opting to leave out diesel variants of crossover vehicles.
By gear transmission, the market has been segmented into
manual and automatic.
Regional
Analysis
Asia Pacific will dominate the market both in terms of value
and volume, followed by North America and Europe. The high demand for these
cars in China, Japan, and India are key for influencing the crossover vehicles
market in the region. Moreover, China is leading in the consumption and
production of crossover vehicles owing to increase demand for luxury vehicles.
North America and Europe can follow after Asia Pacific owing
to the preference of four wheelers among the consumers in these regions. The
demand for mid and large crossover vehicles and sales of luxury crossovers in
Europe can ensure a lucrative period for the market. Electrification of
vehicles and regulations for reducing carbon emissions can drive the demand for
CUVs in Europe.
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TABLE OF CONTENTS:
1.
Market Introduction
2.
Research Methodology
3.
Market Dynamics
4.
Executive Summary
5.
Market Factor Analysis
6.
Crossover vehicles Market, By
Segments
7.
Competitive Analysis
Continued…
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