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The market is segmented by Vehicle Type (Hatchback, Sedan, SUV), Drive Type (IC Engine, Electric), and Geography.
2018 - 2026
Fastest Growing Market:
The global luxury car market (henceforth referred to as the market studied) is anticipated to register a CAGR of about 6% during the forecast period (2020-2025).
The global luxury car market covers all the latest R&D initiatives, investment done by the governments and vehicle manufacturers across the globe. The scope of the report includes
|Sports Utility Vehicle|
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The IC engine is currently leading the market, however it is anticipated that the demand for IC engine vehicles will slow down over the forecast period. At present, major players, such as Mercedes-Benz, BMW, and Audi covers a significant percentage of share in the drive type market segmentation in the global luxury car market.
With the growing environmental concerns, owing to rising exhaust emissions, the governments and environmental associations across the world are tightening the emission norms. As a result, the demand for sustainable and environment-friendly transportation, such as EVs, is increasing, with governments offering higher incentives and subsidies to the owners of these vehicles.
The growing demand for and focus on style, power, and advanced telematics, are expected to continue to propel the demand for luxury EVs.
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Currently, China has the highest growth potential among all developing countries in the luxury car market. The premium car makers, such as Audi, Mercedes-Benz, BMW, Lexus, and Volvo have always maintained positive growth in the Chinese luxury car market. In 2017, luxury cars in the country accounted for more than 9% of the overall passenger cars sales. With the growing business opportunities in the country, the market for luxury cars is expected to witness moderately fast growth.
Mercedes and BMW have dominated the luxury sedan segment of the Indian Market. In 2017, Mercedes India has registered 16% growth compared to its previous year. C-Class and E-class are the majorly sold models by the company.
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Some of the key players of the luxury car market are Mercedes-Benz, BMW, Volvo and Tesla. The market is highly driven with factors like advanced technology, more comfort, growing investment in R7D projects and growing living standard of people around the world. To provide more luxurious experience to the people, major luxury car manufacturer are making joint venture with technology providers. For instance; In February 2019, Daimler AG and BMW AG have agreed to cooperate on developing self-driving cars. Both the manufacturer has signed a memorandum of understanding (MoU) to jointly develop the next generation of autonomous-driving technology, which should be market-ready by the middle of the next decade.
Mercedes Benz which is a top manufacturer of luxury cars bring in a range of new technologies in order to increase their foot print in India. The company will upgraded internal combustion engines to battery-powered electric vehicles and plug-in hybrids
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Vehicle Type
5.1.3 Sports Utility Vehicle
5.2 Drive Type
5.2.1 IC Engine
5.3.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.3.3 Asia Pacific
188.8.131.52 Rest of Asia-Pacific
5.3.4 South America
184.108.40.206 Rest of South America
5.3.5 Middle East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share**
6.2 Company Profiles
6.2.1 Daimler AG (Mercedes-Benz)
6.2.2 Bayerische Motoren Werke AG (BMW)
6.2.3 Volvo Group
6.2.4 Volkswagen Group
6.2.5 Tata Motor Limited
6.2.6 Fiat Chrysler Automobiles
6.2.7 Ford Motor Company
6.2.8 Toyota Motor Corporation
6.2.9 Jaguar Land Rover
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability