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Lucintel Study Indicates Global SUV Manufacturing Industry to Witness Good Growth to Reach $414 Billion in 2017
Irving, Texas (PRWEB) March 15, 2013
Globally, the sport utility vehicle (SUV) manufacturing industry witnessed good growth during 2006-2011; Lucintel sees good opportunities for growth and estimates the global market for the SUV to reach $414 billion in 2017. Significant opportunities, including the reduction in greenhouse gas emissions and global warming, more geopolitical independence, technology advancements, and industry competition fueled the growth.
Lucintel, a leading global management consulting and market research firm, has analyzed the global SUV manufacturing industry and presents its findings in “Global SUV Manufacturing Industry 2012-2017: Trend, Profit, and Forecast Analysis.”
The SUV manufacturing industry is highly consolidated and consists of compact SUV, mid-size SUV, and luxury SUV manufacturers. North America dominates the industry with the largest industry share. The global SUV manufacturing industry is largely dominated by five leading companies including General Motors Corporation and Toyota Motor Corporation. Globalization and advancements in technology, environmental standards, government policies, and safety regulations is seen to impact industry dynamics significantly. Competition in SUV manufacturing industry is high.
As indicated in the industry research report, SUVs have made rapid gains in market share over the past two decades. Global vehicle production rebounded in 2010-2011, led by emerging economies such as China, India, and Brazil. Growing moderate cost transportation industry in developing economies such as China and India are driving the SUV manufacturing industry. Demand for SUV mainly comes from the China and Japan, with Mitsubishi and Honda as the major suppliers.
Weak consumer confidence, rising interest rates, fluctuating fuel prices, stiffening competition from foreign manufacturers are some of the challenges faced by SUV manufacturers. The use of high-performance engines in SUVs and other vehicles leading to reduction in the toxic gases such as carbon monoxide and carbon dioxide may drive industry over the forecast period. The strategy adopted by top players to build alternative fuel vehicles to cope with the current downturn in the global SUV industry is likely to boost the industry.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit http://www.lucintel.com.
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