Crossover Utility Vehicle (CUV) Market Scope
Consumer shift towards the safety and security, and increasing demand for the cross over vehicle fuels the market expansion. The Crossover Utility Vehicle combined the feature of SUV and Hatchback. The CUV has gained popularity in 2020 furthermore with advance technology the vehicle type is growing and driving the market growth. The CUV is based on car chassis and has a unibody construction.
|Unit||Value (USD Million)|
|Key Companies Profiled||Hyundai (South Korea), Honda (Japan), Mazda (Japan), Kia Motors (South Korea), Ford Motors (United States), Subaru (Japan), Jeep (United States), Chevrolet (United States), Mitsubishi (Japan), Nissan (Japan), Buick (United States), Toyota (Japan), Volkswagen (Germany), BMW Group (Germany) and GMC (United States)|
The market for the Crossover Utility Vehicle (CUV) is highly competitive and dominated by few key player. The market has a vendor landscape that is extremely competitive. A number of businesses are also taking part in significant mergers and acquisitions as part of crucial plans to increase their market share globally.
Hyundai (South Korea), Honda (Japan), Mazda (Japan), Kia Motors (South Korea), Ford Motors (United States), Subaru (Japan), Jeep (United States), Chevrolet (United States), Mitsubishi (Japan), Nissan (Japan), Buick (United States), Toyota (Japan), Volkswagen (Germany), BMW Group (Germany) and GMC (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Tata (India), GM (United States), Great Wall Motor (China) and Geely Automobile (China.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Crossover Utility Vehicle (CUV) market by Type , by Application (Consumer Retail Sales, Daily Rental Car Companies, Commercial Fleet Customers, Leasing Companies and Governments) and Region with country level break-up.
On the basis of geography, the market of Crossover Utility Vehicle (CUV) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2022.
Market Leaders and their expansionary development strategiesOn June 2022, Club car the manufacturer of Utility vehicle announce the acquisition of Garia a Denmark based manufacturer of electric street legal low-speed vehicles for the utility. The acquisition is aim to improve and expand the company product portfolio
On February 2021, Alpha Motor Corporation has launched new Electric Jax cross over utility vehicle that is built on share platform with the Alpha Ace it comes with four wheel and front wheel drive system
Influencing Trend:Increasing trend toward vehicle customisation propels the market forward
Market Growth Drivers:Increase demand for cross over utility vehicle drives the market growth and Rising government initiative and rules to support cross over utility vehicle boost the market growth
Challenges:Disruption in automotive industry owing to chip shortage restrict the market growth and Complicated supply chain of CUV stymies the market growth
Restraints:High capital investment and high cost of CUV hampers the market growth
Opportunities:Increasing industrial growth in mining and transportation creates lucrative growth opportunities for the market and Rapid Urbanisation and rise in disposable income creates tremendous opportunities for the market
Key Target AudienceNew Entrants and Investors, Automobile Industry, Vehicle leasing service, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others