Market research reports, consulting: Global Market Insights Inc.

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Crossover Market Trends

Report ID: GMI9130 Published Date: April 2024Report Format: PDF
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Crossover Market Trends

The crossover industry is witnessing significant technological advancements. Crossovers are increasingly being equipped with advanced safety technologies such as automated emergency braking, lane departure warning, and adaptive cruise control. This makes them safer and more attractive to families and safety-conscious consumers. Large touchscreens, smartphone integration (Apple CarPlay, Android Auto), Wi-Fi hotspots, and powerful navigation systems enhance the driving experience and appeal to tech-savvy consumers seeking a connected automobile experience.

Furthermore, the integration of hybrid & electric powertrains in crossovers improves fuel efficiency and appeals to environment-conscious purchasers. This broadens the appeal of crossovers and establishes them as viable alternatives for people seeking both utility and sustainability.

For instance, in November 2023, Nissan unveiled its intention to produce a new electric Leaf crossover in the UK, aligning it with the upcoming next-generation Qashqai and Juke electric crossovers. This new Leaf crossover will share the Renault-Nissan alliance CMF-EV platform with the Nissan Ariya midsize SUV and Renault Megane E-Tech crossovers. The new Leaf crossover will be powered by state-of-the-art batteries produced by Envision, a Chinese battery company, at a facility being constructed adjacent to Nissan’s Sunderland factory in the UK. These advanced batteries offer a 30% increase in energy density compared to the current model’s batteries, significantly boosting its driving range.

Author: Preeti Wadhwani, Aishvarya Ambekar
Frequently Asked Question(FAQ) :

Who are the major contenders in crossover market?+

BMW, Ford, General Motors, Honda, Hyundai, Mercedes-Benz, Mitsubishi, Nissan, Stellantis N.V., Toyota and Volkswagen.

How big is the Asia Pacific crossover industry?+

Asia Pacific market accounted for a share of 45% in 2023, as improving infrastructure such as roads makes road trips more practical adding to the attraction of crossovers in this region.

Why is the use of compact crossovers growing?+

The compact segment is likely to hold 39% revenue share by 2032, driven by an attractive balance of size and practicality.

What is the size of the crossover market?+

The market size of crossover reached USD 565.5 billion in 2023 and is set to witness 5.5% CAGR between 2024 and 2032, owing to the growing popularity of compact crossovers in urban areas.

Crossover Market Scope

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