Global luxury car market is anticipated
to register double-digit CAGR during the forecast period. Luxury cars, the
status symbol, have high horse power, offer more security, and come with
tractional control, airbags, review cameras and anti-lock braking systems.
Moreover, luxury cars come with latest technologies and offer enhanced interior
experience such as contoured dash, heated seats, better sound systems and real
time navigation systems. Option of customization and high horse power with
remote starters, electronic parking aids and rain-sensing windshield wipers
only add-up to their demand, thereby promoting growth of global luxury car
market. Additionally, the resale value of luxury cars is high, making them even
more popular.
Global luxury car market can be
segmented based on vehicle type, fuel type, transmission system and engine
capacity. Based on the vehicle type, global luxury car market can be bifurcated
into SUV, sedan and hatchback. Sedans are the preferred vehicle type among people.
In terms of transmission type, the market can be bifurcated into manual and
automatic. Automatic is the advanced gearbox and is expected to register strong
growth due to the ease of driving. Moreover, advanced gearbox comes in
conventional automatic and dual-switch gearbox (DSG), which is positively impacting
the market.
Europe witnessed highest sales in
global luxury car market in 2018, owing to the presence of major automotive
manufacturers in the region. Germany, United Kingdom and France are the
significant countries in the European luxury car market. Asia-Pacific luxury
car market is growing at a brisk rate with China leading the numbers in the
market. India is one of the largest passenger car markets in the world,
however, the penetration of luxury vehicles is low, which is anticipated to increase
during the forecast period. This is due to the fact that automobile companies
have started launching multiple strategically priced models with various smart
financing schemes and per capita income is increasing in the country. Moreover,
Indian government is offering subsidies for the purchase of electric vehicles.
Major players operating in global luxury
car market include Bayerische Motoren Werke AG (BMW), Daimler AG, Volkswagen
AG, Tata Motors Limited, General Motors Company, Volvo Group, Honda Motor Co.,
Tesla Inc., etc. Major companies are developing advanced technologies and
launching new products in order to stay competitive in the market. Other
competitive strategies include mergers & acquisitions and new product
developments. In 2018, Mercedes Benz registered highest sales in the premium
segment for three years in a row. Moreover, buyers are showing interest in
electric vehicles, leading to significant sales volume of Tesla Inc.’s luxury
cars.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the
Study:
- To analyze and forecast global luxury car
market size.
- To classify and forecast global luxury car
market based on vehicle type, fuel type, transmission type, engine capacity
and regional distribution.
- To identify drivers and challenges for global
luxury car market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in
global luxury car market.
- To conduct the pricing analysis for global
luxury car market.
- To identify and analyze the profile of leading
players operating in global luxury car market.
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Some of the leading players in global luxury car market
are Bayerische Motoren
Werke AG (BMW), Daimler AG, Volkswagen AG, Tata Motors Limited, General Motors
Company, Volvo Group, Honda Motor Co., Tesla Inc., etc.
TechSci Research performed both primary as well as
exhaustive secondary research for this study. Initially, TechSci Research
sourced a list of manufacturers across the globe. Subsequently, TechSci
Research conducted primary research surveys with the identified companies.
While interviewing, the respondents were also enquired about their competitors.
Through this technique, TechSci Research could include manufacturers which could
not be identified due to the limitations of secondary research. TechSci Research
analyzed product offerings, distribution channels and presence of all major manufacturers
across the globe.
TechSci Research calculated global luxury car market size using a bottom-up approach, where data for various end-user
segments was recorded and forecast for the future years. TechSci Research
sourced these values from the industry experts and company representatives and
externally validated through analyzing historical data of these product types
and applications for getting an appropriate, overall market size. Various
secondary sources such as company websites, news articles, press releases,
company annual reports, investor presentations and financial reports were also studied
by TechSci Research.
Key Target Audience:
- Automotive manufacturers
- Security and intelligence
service providers
- Research organizations and
consulting companies
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums and
alliances related to luxury cars
The study is useful in providing answers
to several critical questions that are important for industry stakeholders such
as manufacturers and partners, end users, etc., besides
allowing them in strategizing investments and capitalizing on market
opportunities.
Report Scope:
In this report, global luxury car market has
been segmented into following categories, in addition to the industry trends
which have also been detailed below:
- Market, by Vehicle Type:
- Market, by Fuel Type:
- Market, by Transmission Type:
- Market, by Engine Capacity:
- <2500cc
- 2500-5000cc
- >5000cc
- Market, by Region:
- Asia-Pacific
- China
- India
- Japan
- Australia
- New Zealand
- Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- North America
- United States
- Mexico
- Canada
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Qatar
Competitive
Landscape
Company Profiles: Detailed analysis of the
major companies present in global luxury car market.
Available
Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players
(up to five).
In case you don’t find what you are
looking for, please get in touch with our custom research team at sales@techsciresearch.com
It is an upcoming report to
be released soon. If you wish an early delivery of this report or want to
confirm the date of release, please contact us at sales@techsciresearch.com