Asia-oceania: driving the market for suvs and sub-compact suvs
The asia-oceania SUV and sub-compact SUV market is poised to register the highest CAGR
during the forecast period. This can be primarily attributed to the strong state support,
availability of economical domestic resources, and emerging economies in the region,
particularly china and india. Major oems are investing heavily in the region, prompted by
factors such as young demographics and the expanding middle class. The production of
suvs and sub-compact suvs is expected to increase in countries such as china and india,
owing to availability of cost-effective labor and favorable government policies. For
instance, the government of india has allowed 100% foreign direct investment (FDI) with
no minimum investment criteria for the automotive sector.