Luxury Car Market Valuation to Garner a CAGR of 35% by 2023. Luxury Car Market Analysis by Vehicle Body Type (SUV, Sedan, Hatchback), Vehicle Component (LiDAR, Biometric Sensors, Radar), Vehicle Fuel Type (ICE, BEV, FCEV, Hybrid), End-User (Car Pooling, Personal Mobility), and Region (North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America) – Global Industry Forecast To 2023. Rising Purchasing Power of Consumers to Push the Global Luxury Car Market.
The global Automotive Luxury Vehicle market includes a host of new and top-tier players. MRFR in its published report mentions various key players, including Daimler AG (Germany), Tesla, Inc. (U.S.), Robert Bosch GmbH (Germany), Delphi Technologies, Inc. (U.K), Audi AG (Germany), BMW (Germany), NXP Semiconductors N.V. (Netherlands), Porsche AG (Germany), General Motors Company (U.S.), Denso Corporation (Japan), Continental AG (Germany), Infineon Technologies AG (Germany), and others.
Get Sample Report At: https://www.marketresearchfuture.com/sample_request/5783
Global Luxury Car Market Highlights:
The automotive consumer of today considers the ‘value for money’ factor while planning to buy a car. Therefore, automobile manufacturers make sure that the kind of automobile owned by a consumer would be equivalent to a status/style statement, triggering the rise of the luxury vehicle sector. Market Research Future (MRFR) has published a research report about the global Luxury Car market that is estimating boost for this market at 35% CAGR during the forecast period between 2019 and 2023.
The foray into the luxury appeal of automobiles has created a significant market share in recent years. The maintenance of the exclusivity and luxury factor of automobiles has proved profitable for car manufacturers who are functioning in this market. Furthermore, the rise in the purchasing power of individuals is expected to boost the market growth in the forthcoming forecast period.
The striking growth of the market can be attributed to several key factors. The rising level of purchasing power of the global consumer base of automotive has gone significantly higher in recent years. This is due to an increasing number of families and individuals climbing the money ladder and moving into the upper middle class and rich bracket. Following this, there has been a rising growth in the preference level of consumers to own personal automobiles. Lastly, the highly competitive nature of the automobile industry has prompted automakers in always trying to provide something better and unique in terms of value.
The global automotive luxury vehicle market segmentation is divided on the basis of body type, fuel type, end-user, and component.
By body type, the luxury car market segmented by sedan, SUV, and hatchback. The most popular segment in this category are sedan and SUVs as these are priced at a comparatively higher range and boast a status quo to its name.
By fuel type, luxury car market segmented by FCEV, ICE, hybrid, and BEV. The ICE segment leads the market category with the highest share. Furthermore, it is expected to grow at a notable CAGR during the forecast period.
By component, luxury car market segmented by biometric sensors, LiDAR, and Radar.
By end-user, luxury car market segmented by personal mobility and carpooling. Both the market segments are expected to grow at an equally high rate during the forecast period.
The global automotive luxury vehicle market segmentation covers the following regions: Europe, Asia Pacific, North America, and the Rest-of-the-World (RoW).
North America is one of the biggest automotive markets due to the state-of-the-art road infrastructure. Many big automotive market players are based in the USA. Other important factors leading to market growth are increasing purchasing power, robust economy, and growing demand for luxury vehicles. Canada is another powerful country-specific market in this region.
The European region is where the bulk of the world’s luxurious and high-end car manufacturers have their center of operations. The people living in this region are known for their keen interest and spending in extravagant, high-performance vehicles.
The Asia Pacific region is identified to hold lucrative growth opportunities in the global landscape. The region is positioned to be the next automotive hub of the world. The emerging economies in this region, namely India and China, are expected to offer favorable growth opportunities during the forecast period due to the increasing purchasing power of the consumers.
Table Of Content:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Automotive Luxury Vehicle Market, By Body Type
List Of Tables:
Table 1 Luxury Car Market: By Region, 2017-2023
Table 2 North America Luxury Car Market: By Country, 2017-2023
Table 3 Europe Luxury Car Market: By Country, 2017-2023
Table 4 Asia Pacific Luxury Car Market: By Country, 2017-2023
Table 5 RoW Luxury Car Market: By Country, 2017-2023
Table 6 Luxury Car Market, By Body Type, By Regions, 2017-2023
List Of Figures:
FIGURE 1 Research Process Of MRFR
FIGURE 2 Top Down & Bottom Up Approach
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
FIGURE 6 Porter’s Five Forces Analysis
FIGURE 7 Value Chain Analysis
Browse More Details About Automotive Luxury Car Market at: https://www.marketresearchfuture.com/reports/automotive-luxury-vehicle-market-5783
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar