Automotive Luxury Vehicle Market is predicted to grow at approximately 35% CAGR by 2027

Pune, India, April 03, 2018 /MRFR Press Release/- Market research future published a half cooked research report on Global Automotive Luxury Vehicle Market.

Market Highlights

The automotive customers and their requirements have seen a lot of change in the last few years. The customer, till the 1950s, was more interested in vehicle engine performance, its functionality, and thus, the basic workability parameters. Global automotive manufacturers of those times would compete with one another based on how efficient the engine was and how efficiently the vehicle performance, in general, took place. With the progress of time, the priorities of global customers shifted. People were equally interested in aesthetics and add-on features as much as the actual vehicle performance. Thus, automotive customers were interested in the complete package, rather than standalone features. The one biggest hurdle in this was the limited variety in the automotive market till the late 1950s. This picture gradually changed post the 1960s. With the advent of different automotive manufacturers in the industry, the number of different automobiles to choose from also increased. This transformed the once automaker driven market into the consumer-driven market.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Automotive Luxury Vehicle Market Research Report

The consumer, post-1960s, was spoilt for choice with the wide variety of options. In order to keep their loyal customer base intact and add more customers to their brand, every automaker started providing niche products. These automobiles were niche mainly due to the add-on features and the safety features provided (if any). The aesthetic appeal of an automobile was also a big boost, contributing to the final decision-making of automotive purchase. In this context, to attract customers capable of spending high sums and to give them a feeling of exclusivity, the automakers carved out one more segment/point of differentiation. This was where the luxury vehicle market came into being. The very automobiles catering to the average global customer now started providing high-end and high priced cars, hence, providing a feel of exclusivity and premium product offering.

On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. The North America region (the U.S. and Canada, in particular) is known for large and wide road infrastructure, coupled with high purchasing power of the common citizen. The Europe region is always known for having customers who prefer high-end and high-performance cars with state of the art features. The Asia Pacific region is considered to be the next biggest automotive hub in the world. The emerging and ever growing economies, such as India and China, and the rising purchasing power of the middle class in this region makes automotive sales a strong proposition. All these factors distinctly highlight the huge scope for the growth of the automotive luxury vehicle market on a global scale.

Drivers:

Global Automotive Luxury Vehicle Market Size, 2017-2023(CAGR):

Scope of the Report

This study provides an overview of the Global Automotive Luxury Vehicle Market, tracking five market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC), and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Automotive Luxury Vehicle Market by its Body Type, Component, Fuel Type, End-User, and Region.

• By Body Type


• SUV


• Sedan


• Hatchback


• By Component


• LiDAR


• Biometric


• Sensors


• Radar


• By Fuel Type


• ICE


• BEV


• FCEV


• Hybrid


• By End User


• Car Pooling


• Personal Mobility


• By Region


• North America


• Europe


• Asia Pacific


• Rest of the World

Key Players

The key players in automotive luxury vehicle market are Tesla, Inc. (U.S.), BMW (Germany), Denso Corporation (Japan), Daimler AG (Germany), Delphi Technologies, Inc. (U.K), Audi AG (Germany), NXP Semiconductors N.V. (Netherlands), Robert Bosch GmbH (Germany), Infineon Technologies AG (Germany), Porsche AG (Germany), General Motors Company (U.S.), and Continental AG (Germany).