Market Overview:
The global luxury vehicle market is expected to grow at a CAGR of 5.5% during the forecast period 2018-2030. The market growth can be attributed to the increasing demand for luxury cars from the high-income group population and rising disposable income in developing countries. Additionally, the introduction of new models and variants of luxury cars by various manufacturers is also contributing to the growth of this market. Based on type, the global luxury vehicle market can be segmented into compact luxury cars, mid-size luxury cars, full-size luxury cars, and Luxury crossovers & minivans. Among these segments, full size luxurious car segment is expected to witness highest CAGR during 2018-2030 owing to increasing demand for such vehicles from high net worth individuals (HNIs) in developed countries such as U.S., Canada and Europe. In terms of application, general use accounted for majority share in 2017.
Product Definition:
A luxury vehicle is a vehicle that has been designed for greater comfort or performance than ordinary vehicles. Luxury cars are often more expensive than regular cars.
Compact Luxury Cars:
Compact luxury cars are a new segment of the Luxury Vehicle Market. Compact in size, these vehicles offer features usually associated with much larger and heavier vehicles. The primary factor driving this market is consumer demand for enhanced comfort and convenience along with exceptional driving experience at an affordable price.
Compact luxury cars have been around for several years but gained significant traction only recently due to changing economic conditions that favor the adoption of smaller vehicle models across all segments including premium compact car segment.
Mid-size Luxury Cars:
The global mid-size luxury cars segment is expected to witness significant growth over the forecast period. Mid-size luxury car can be defined as a vehicle that falls in between the size of an economy car and a premium/high-end car. The segment holds great potential for market growth, which can be attributed to factors such as increasing purchasing power, rising income levels, growing population in emerging countries like India and China among others.
Application Insights:
The general use segment held the largest share of over 70.0% in 2017. The rising purchasing power of the middle-class population has been fueling demand for passenger cars in developing regions, such as Asia Pacific and Middle East & Africa. Furthermore, increasing urbanization has created a need for more passenger cars per household in developed regions like Europe and North America to accommodate growing consumer spending on vehicles that provide utility along with luxury features.
The collection segment is expected to witness significant growth over the forecast period owing to high demand from emerging markets including China, India, Brazil.
Regional Analysis:
Asia Pacific dominated the global luxury vehicle market in 2017 with a revenue share of over 45%. The region is expected to continue its dominance over the next eight years. This can be attributed to increasing disposable income, growing population, and rising standards of living. Furthermore, China has been observed to be one of the largest markets for high-end cars across the globe owing to low production costs and availability of cheap labor.
The Middle East & Africa is anticipated to grow at a significant rate during the forecast period owing to increasing government investments in infrastructure development projects along with rising tourism activities in countries such as UAE and Saudi Arabia. Moreover, rapid growth in urbanization has led people opt for luxury vehicles as their primary mode of transportation resulting into an increase demand for these vehicles across this region thereby supporting industry growth over projected period from 2018 To 2030 (tourism contributes significantly towards economic growth).
Growth Factors:
- Increasing disposable income of the population: The luxury vehicle market is expected to grow as the disposable income of the population increases. This is because people with higher incomes are more likely to purchase luxury vehicles.
- Rising demand from emerging markets: The demand for luxury vehicles is rising rapidly in emerging markets such as China and India. This is due to the increasing number of wealthy consumers in these countries.
- Improved product offerings: Luxury automakers are constantly improving their product offerings, which is attracting more consumers to the market. For example, Mercedes-Benz has recently launched a new line of SUVs that are specifically designed for luxury buyers.
Scope Of The Report
Report Attributes
Report Details
Report Title
Luxury Vehicle Market Research Report
By Type
Compact Luxury Cars, Mid-size Luxury Cars, Full-size Luxury Cars, Luxury Crossovers & Minivans, Luxury SUVs
By Application
General Use, Collection
By Companies
BWN, Mercedes-Benz, Lexus, Jaguar Land Rover, Porsche, Ferrari, Maserati, Audi, Daimler, Bentley, Volvo Group, Aston Martin Lagonda, General Motors, Nissan Motors, Volkswagen, Tata Motors, Hyundai Motors, Honda Motors
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
166
Number of Tables & Figures
117
Customization Available
Yes, the report can be customized as per your need.
Global Luxury Vehicle Market Report Segments:
The global Luxury Vehicle market is segmented on the basis of:
Types
Compact Luxury Cars, Mid-size Luxury Cars, Full-size Luxury Cars, Luxury Crossovers & Minivans, Luxury SUVs
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
General Use, Collection
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BWN
- Mercedes-Benz
- Lexus
- Jaguar Land Rover
- Porsche
- Ferrari
- Maserati
- Audi
- Daimler
- Bentley
- Volvo Group
- Aston Martin Lagonda
- General Motors
- Nissan Motors
- Volkswagen
- Tata Motors
- Hyundai Motors
- Honda Motors
Highlights of The Luxury Vehicle Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Compact Luxury Cars
- Mid-size Luxury Cars
- Full-size Luxury Cars
- Luxury Crossovers & Minivans
- Luxury SUVs
- By Application:
- General Use
- Collection
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Luxury Vehicle Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A luxury vehicle is a car or truck that is typically more expensive than other models. Luxury vehicles may have features such as leather seats, air conditioning, and sound systems that are above average for their class.
Some of the major players in the luxury vehicle market are BWN, Mercedes-Benz, Lexus, Jaguar Land Rover, Porsche, Ferrari, Maserati, Audi, Daimler, Bentley, Volvo Group, Aston Martin Lagonda, General Motors, Nissan Motors, Volkswagen, Tata Motors, Hyundai Motors, Honda Motors.
The luxury vehicle market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Luxury Vehicle Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Luxury Vehicle Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Luxury Vehicle Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Luxury Vehicle Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Luxury Vehicle Market Size & Forecast, 2020-2028
4.5.1 Luxury Vehicle Market Size and Y-o-Y Growth
4.5.2 Luxury Vehicle Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Compact Luxury Cars
5.2.2 Mid-size Luxury Cars
5.2.3 Full-size Luxury Cars
5.2.4 Luxury Crossovers & Minivans
5.2.5 Luxury SUVs
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 General Use
6.2.2 Collection
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Luxury Vehicle Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Luxury Vehicle Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Compact Luxury Cars
9.6.2 Mid-size Luxury Cars
9.6.3 Full-size Luxury Cars
9.6.4 Luxury Crossovers & Minivans
9.6.5 Luxury SUVs
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 General Use
9.10.2 Collection
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Compact Luxury Cars
10.6.2 Mid-size Luxury Cars
10.6.3 Full-size Luxury Cars
10.6.4 Luxury Crossovers & Minivans
10.6.5 Luxury SUVs
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 General Use
10.10.2 Collection
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Compact Luxury Cars
11.6.2 Mid-size Luxury Cars
11.6.3 Full-size Luxury Cars
11.6.4 Luxury Crossovers & Minivans
11.6.5 Luxury SUVs
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 General Use
11.10.2 Collection
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Compact Luxury Cars
12.6.2 Mid-size Luxury Cars
12.6.3 Full-size Luxury Cars
12.6.4 Luxury Crossovers & Minivans
12.6.5 Luxury SUVs
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 General Use
12.10.2 Collection
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Compact Luxury Cars
13.6.2 Mid-size Luxury Cars
13.6.3 Full-size Luxury Cars
13.6.4 Luxury Crossovers & Minivans
13.6.5 Luxury SUVs
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 General Use
13.10.2 Collection
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Luxury Vehicle Market: Competitive Dashboard
14.2 Global Luxury Vehicle Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 BWN
14.3.2 Mercedes-Benz
14.3.3 Lexus
14.3.4 Jaguar Land Rover
14.3.5 Porsche
14.3.6 Ferrari
14.3.7 Maserati
14.3.8 Audi
14.3.9 Daimler
14.3.10 Bentley
14.3.11 Volvo Group
14.3.12 Aston Martin Lagonda
14.3.13 General Motors
14.3.14 Nissan Motors
14.3.15 Volkswagen
14.3.16 Tata Motors
14.3.17 Hyundai Motors
14.3.18 Honda Motors
