Suv Market Trends, Application, And Regional Forecast To 2027

The SUV Market is projected to grow from USD 885.8 billion in 2022 to USD 1,221.7 billion in 2027, at a CAGR of 6.6%. The SUVs are well known for using high-end materials and have a sporty look. The off-road capabilities of SUVs are driving their demand in US and European countries. The growing demand for premium cars with increased comfort features would create potential demand for luxury SUVs in the coming years. Similarly, the increasing trend of electrification worldwide would create demand for electric SUVs and components such as batteries and motors.

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