South Korea Crossover Vehicles Market Analysis and Forecast for 2024
The South Korea crossover vehicles market is rapidly expanding, fueled by consumer demand for practical and comfortable vehicles. South Korean automakers like Hyundai and Kia are increasing their crossover offerings with models that emphasize fuel efficiency, advanced safety features, and stylish designs. The shift towards eco-friendly crossovers, including hybrid and electric options, is also gaining traction as South Korea promotes sustainable automotive solutions. Supported by government incentives and consumer preference for modern, adaptable vehicles, South Korea’s crossover vehicles market is positioned for strong growth in both domestic and international markets.
The Crossover Vehicles Market size
was valued at USD 0.10 Billion in 2023 and the industry is projected to grow
from USD 0.11 Billion in 2024 to USD 0.21 Billion by 2032, exhibiting a
compound annual growth rate (CAGR) of 7.82% during the forecast period 2024 -
2032.
The key market driver boosting the
market for Crossover SUVs is the quickly growing demand for vehicles with
higher fuel efficiency. Furthermore, another main factor fueling the market
expansion for Sport Utility Vehicles during the anticipated period is the
exceptional value for money they offer.
Body Contouring is
a procedure that eliminates or decreases excess body fat. It contains the alteration
of the body parts and improves the appearance. There are several body
contouring procedures such as body lift, bra line back lift, body fat transfer,
implants, and abdominal etching. Among them, a body lift is the most common
method that eliminates the excess skin and fat from the thigh, abdomen, and
buttocks.
Among them, one of
the main affected business sectors is the global cosmetic industry which
contains skincare, body contouring, fragrances, hair care, and personal care.
Owing to the continuous lockdowns, the supply chains of the body contouring
industry are highly impacted and have experienced a massive decline. Trade
barricades are highly preventive the demand-supply attitude. Due to these
factors, the production process is adversely affected and hence delays the
overall medical devices market.
Regional
Analysis
North America holds the
largest market share tracked by Europe. In Europe and North America, the
growing healthcare expenditure and the presence of a huge obese population are
the major reasons for the development of this market.
Market Segmentation
The Global Body Contouring Market has
been segmented into Types of devices, and End-Users
Based on the Types of Devices, The Global Body
Contouring Market has been segmented into
invasive devices, minimally invasive devices, and non-invasive devices. The
non-invasive devices segment holds the highest market share for its advent of
new devices and is anticipated to maintain lucrative growth during the forecast
period. The other factors inducing this segment are enhanced safety, short
downtime, and cost-effectiveness.
Based on end-users, The Global Body
Contouring Market has been segmented into clinical
research organizations, hospitals, medical spas, and clinics. Out of them,
Clinics and Spa centers hold the largest market share for the accessibility of
advanced technological devices and reduced risks of hospital-acquired
infections.
Key Players
Some of the key market players of global
Body Contouring Market are Alma Lasers (Israel),
Cynosure (US), Meridian (Michigan), Syneron Medical (Israel), Palomar Medical
Technologies (US), Valeant (Canada), Lumenis (Israel), GlobalMed Technologies
(US), Asclepion Laser Technologies (Germany), and Andrew Technologies (Canada).
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