Luxury SUV Market -- North America to account for 48% global market share

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Sep 14, 2022, 06:15 ET

NEW YORK, Sept. 14, 2022 /PRNewswire/ -- The "Luxury SUV Market by Type and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. According to the report, the market size will increase by 1798.24 thousand units between 2021 and 2026, accelerating at a CAGR of 7.73% during the forecast period. The report considers various aspects such as the consumer base, adoption rate, average selling price, revenue generated by vendors, and various other factors to estimate the market size. Download Sample PDF Report Here to get an idea of the overall scope of the full report.

Technavio has announced its latest market research report titled Global Luxury SUV Market 2022-2026

The global luxury SUV market is fragmented and highly competitive, with an increasing demand for luxury vehicles. The brand position is a major factor by which a company can differentiate itself from other vendors. Selling luxury SUV vehicles under the same brand name would negatively impact sales. Therefore, almost every vehicle manufacturer has positioned its luxury brand under a different brand name. Honda Motor has its luxury brand Acura, Toyota Motor has its luxury brand Lexus, Nissan Motor has its luxury brand Infiniti, and Ford Motor has its luxury brand Lincoln.

Changes in tax policies in various countries are increasing the overall cost of the vehicle, and the rise in demand for the luxury SUV is intensifying competition. Cost pressure on luxury vehicle manufacturers is increasing as they have to offer vehicles at competitive prices. The market is highly capital-intensive, with high entry barriers. Therefore, the possibility of new players entering the market is low during the forecast period. Thus, the growing demand for luxury vehicles will push luxury SUV manufacturers to increase their production capacity by opening new manufacturing plants or expanding existing plants which will drive the growth of the market in focus during the forecast period.

Some of the dominant players operating in the market include AB Volvo, Bayerische Motoren Werke AG, China FAW Group Co. Ltd., Ford Motor Co., General Motors Co, Honda Motor Co. Ltd., Hyundai Motor Group, Mahindra and Mahindra Ltd., Mazda Motor Corp, Mercedes Benz Group AG, Mitsubishi Motors Corp., Nissan Motor Co. Ltd., Renault SAS, SAIC Motor Corp. Ltd., Stellantis NV, Tata Motors Ltd, Tesla Inc., The BYD Motors Inc., Toyota Motor Corp, and Volkswagen AG.

Although the increased preference for safety and comfort to drive sales of luxury SUVs will offer immense growth opportunities, to leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Luxury SUV Market 2022-2026: Segmentation

Type

Mid-size Luxury SUVs
Full-size Luxury SUVs

The demand for mid-size luxury SUVs has been significant in the market. The segment is driven by the increasing sales of compact luxury SUVs, especially by cost-conscious consumers in APAC and European countries.

Geography

North America
APAC
Europe
South America
The Middle East and Africa

North America is the major market for luxury SUVs, occupying 48% of the global market share. The high presence of the HNWI population in countries such as the US is the key factor driving the growth of the regional market. In addition, the rising popularity of high-end electric SUVs is expected to further accelerate the growth of the luxury SUV market in North America during the forecast period.

The report also covers the following areas:

Luxury SUV Market 2022-2026: Key Highlights

CAGR of the market during the forecast period 2022-2026
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

Related Reports:

Luxury SUV Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 7.73%
Market growth 2022-2026	1798.24 th units
Market structure	Fragmented
YoY growth (%)	5.44
Regional analysis	North America, APAC, Europe, South America, and Middle East and Africa
Performing market contribution	North America at 48%
Key consumer countries	US, Canada, China, Germany, and UK
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	AB Volvo, Bayerische Motoren Werke AG, China FAW Group Co. Ltd., Ford Motor Co., General Motors Co, Honda Motor Co. Ltd., Hyundai Motor Group, Mahindra and Mahindra Ltd., Mazda Motor Corp, Mercedes Benz Group AG, Mitsubishi Motors Corp., Nissan Motor Co. Ltd., Renault SAS, SAIC Motor Corp. Ltd., Stellantis NV, Tata Motors Ltd, Tesla Inc., The BYD Motors Inc., Toyota Motor Corp, and Volkswagen AG
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
Exhibit 06: Executive Summary – Chart on Incremental Growth
Exhibit 07: Executive Summary – Data Table on Incremental Growth
Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 09: Parent market
Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

Exhibit 13: Chart on Global - Market size and forecast 2021-2026 (thousand units)
Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 (thousand units)
Exhibit 15: Chart on Global Market- Year-over-year growth 2021-2026 (%)
Exhibit 16: Data Table on Global Market- Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers

Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers

Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants

Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes

Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry

Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition

Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

5.1 Market segments

Exhibit 24: Chart on Type - Market share 2021-2026 (%)
Exhibit 25: Data Table on Type - Market share 2021-2026 (%)

5.2 Comparison by Type

Exhibit 26: Chart on Comparison by Type
Exhibit 27: Data Table on Comparison by Type

5.3 Mid-size luxury SUVs - Market size and forecast 2021-2026

Exhibit 28: Chart on Mid-size luxury SUVs - Market size and forecast 2021-2026 (thousand units)
Exhibit 29: Data Table on Mid-size luxury SUVs - Market size and forecast 2021-2026 (thousand units)
Exhibit 30: Chart on Mid-size luxury SUVs - Year-over-year growth 2021-2026 (%)
Exhibit 31: Data Table on Mid-size luxury SUVs - Year-over-year growth 2021-2026 (%)

5.4 Full-size luxury SUVs - Market size and forecast 2021-2026

Exhibit 32: Chart on Full-size luxury SUVs - Market size and forecast 2021-2026 (thousand units)
Exhibit 33: Data Table on Full-size luxury SUVs - Market size and forecast 2021-2026 (thousand units)
Exhibit 34: Chart on Full-size luxury SUVs - Year-over-year growth 2021-2026 (%)
Exhibit 35: Data Table on Full-size luxury SUVs - Year-over-year growth 2021-2026 (%)

5.5 Market opportunity by Type

Exhibit 36: Market opportunity by Type (thousand units)

6 Customer Landscape

6.1 Customer landscape overview

Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation

Exhibit 38: Chart on Market share by geography 2021-2026 (%)
Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison

Exhibit 40: Chart on Geographic comparison
Exhibit 41: Data Table on Geographic comparison

7.3 North America - Market size and forecast 2021-2026

Exhibit 42: Chart on North America - Market size and forecast 2021-2026 (thousand units)
Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 (thousand units)
Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.4 APAC - Market size and forecast 2021-2026

Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 (thousand units)
Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 (thousand units)
Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.5 Europe - Market size and forecast 2021-2026

Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 (thousand units)
Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 (thousand units)
Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026

Exhibit 54: Chart on South America - Market size and forecast 2021-2026 (thousand units)
Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 (thousand units)
Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026

Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 (thousand units)
Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 (thousand units)
Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026

Exhibit 62: Chart on US - Market size and forecast 2021-2026 (thousand units)
Exhibit 63: Data Table on US - Market size and forecast 2021-2026 (thousand units)
Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 China - Market size and forecast 2021-2026

Exhibit 66: Chart on China - Market size and forecast 2021-2026 (thousand units)
Exhibit 67: Data Table on China - Market size and forecast 2021-2026 (thousand units)
Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

7.10 Germany - Market size and forecast 2021-2026

Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 (thousand units)
Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 (thousand units)
Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.11 Canada - Market size and forecast 2021-2026

Exhibit 74: Chart on Canada - Market size and forecast 2021-2026 (thousand units)
Exhibit 75: Data Table on Canada - Market size and forecast 2021-2026 (thousand units)
Exhibit 76: Chart on Canada - Year-over-year growth 2021-2026 (%)
Exhibit 77: Data Table on Canada - Year-over-year growth 2021-2026 (%)

7.12 UK - Market size and forecast 2021-2026

Exhibit 78: Chart on UK - Market size and forecast 2021-2026 (thousand units)
Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 (thousand units)
Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography

Exhibit 82: Market opportunity by geography (thousand units)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges

Exhibit 83: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape

Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption

Exhibit 85: Overview on factors of disruption

9.4 Industry risks

Exhibit 86: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered

Exhibit 87: Vendors covered

10.2 Market positioning of vendors

Exhibit 88: Matrix on vendor position and classification

10.3 AB Volvo

Exhibit 89: AB Volvo - Overview
Exhibit 90: AB Volvo - Business segments
Exhibit 91: AB Volvo - Key offerings
Exhibit 92: AB Volvo - Segment focus

10.4 Bayerische Motoren Werke AG

Exhibit 93: Bayerische Motoren Werke AG - Overview
Exhibit 94: Bayerische Motoren Werke AG - Business segments
Exhibit 95: Bayerische Motoren Werke AG - Key news
Exhibit 96: Bayerische Motoren Werke AG - Key offerings
Exhibit 97: Bayerische Motoren Werke AG - Segment focus

10.5 Ford Motor Co.

Exhibit 98: Ford Motor Co. - Overview
Exhibit 99: Ford Motor Co. - Business segments
Exhibit 100: Ford Motor Co. - Key news
Exhibit 101: Ford Motor Co. - Key offerings
Exhibit 102: Ford Motor Co. - Segment focus

10.6 General Motors Co

Exhibit 103: General Motors Co - Overview
Exhibit 104: General Motors Co - Business segments
Exhibit 105: General Motors Co - Key news
Exhibit 106: General Motors Co - Key offerings
Exhibit 107: General Motors Co - Segment focus

10.7 Mercedes Benz Group AG

Exhibit 108: Mercedes Benz Group AG - Overview
Exhibit 109: Mercedes Benz Group AG - Business segments
Exhibit 110: Mercedes Benz Group AG - Key offerings
Exhibit 111: Mercedes Benz Group AG - Segment focus

10.8 Nissan Motor Co. Ltd.

Exhibit 112: Nissan Motor Co. Ltd. - Overview
Exhibit 113: Nissan Motor Co. Ltd. - Business segments
Exhibit 114: Nissan Motor Co. Ltd. - Key news
Exhibit 115: Nissan Motor Co. Ltd. - Key offerings
Exhibit 116: Nissan Motor Co. Ltd. - Segment focus

10.9 Tata Motors Ltd

Exhibit 117: Tata Motors Ltd - Overview
Exhibit 118: Tata Motors Ltd - Business segments
Exhibit 119: Tata Motors Ltd - Key news
Exhibit 120: Tata Motors Ltd - Key offerings
Exhibit 121: Tata Motors Ltd - Segment focus

10.10 Tesla Inc.

Exhibit 122: Tesla Inc. - Overview
Exhibit 123: Tesla Inc. - Business segments
Exhibit 124: Tesla Inc. - Key offerings
Exhibit 125: Tesla Inc. - Segment focus

10.11 Toyota Motor Corp

Exhibit 126: Toyota Motor Corp - Overview
Exhibit 127: Toyota Motor Corp - Business segments
Exhibit 128: Toyota Motor Corp - Key news
Exhibit 129: Toyota Motor Corp - Key offerings
Exhibit 130: Toyota Motor Corp - Segment focus

10.12 Volkswagen AG

Exhibit 131: Volkswagen AG - Overview
Exhibit 132: Volkswagen AG - Business segments
Exhibit 133: Volkswagen AG - Key offerings
Exhibit 134: Volkswagen AG - Segment focus

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist

Exhibit 135: Inclusions checklist
Exhibit 136: Exclusions checklist

11.3 Currency conversion rates for US$

Exhibit 137: Currency conversion rates for US$

11.4 Research methodology

Exhibit 138: Research methodology
Exhibit 139: Validation techniques employed for market sizing
Exhibit 140: Information sources

11.5 List of abbreviations

Exhibit 141: List of abbreviations

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