Report Description

Global Luxury Car Market By Vehicle Type (Hatchback, Sedan & SUV), By Fuel Type (Petrol, Diesel & Others), By Transmission Type (Manual & Automatic), By Engine Capacity (<2500cc, 2500-5000cc & >5000cc), By Region, Competition, Forecast & Opportunities, 2024

  • Publish Date: NA
  • Format : PDF
  • Pages : 110
  • Industry : Automotive

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:
    • Hatchback
    • Sedan
    • SUV
  • Market, by Fuel Type:
    • Petrol
    • Diesel
    • Others
  • Market, by Transmission Type:
    • Manual
    • Automatic
  • 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).

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