Luxury Vehicles Market: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021

Report Code: ZMR-142 | Report Format : | Status : Upcoming |

Abstract

The term “luxury vehicle” suggests a vehicle with higher quality equipment, explicit construction, comfort, better performance, higher design, and is technologically modern and featured. It is a perceptual, conditional, and subjective attribute that may be apprehended differently by different people. Luxury vehicles are a symbol of an image, brand, prestige, or status that is offered at premium prices. These vehicles provide emphasized comfort and the higher degree of safety compared to mainstream vehicles.

The past of automobile industry shows that there has been a point where it had a group of car models that were expensive to purchase owing to the so-called superiority of their design and engineering. Wealthy buyers and the high-standard group of people give importance to their society status and prestige. Hence, these automobiles specifically focus on such wealthy buyers and are generically termed as “luxury vehicles”. By providing various models, manufacturers of these luxury vehicles target particular socio-economic classes taking into account their income and standard of living in the society.

On the basis of type, luxury vehicles are classified as sedan, station wagon, hatchback, coupe, and convertible body styles. Further, they are segmented into minivans, crossovers, sport utility vehicles, and others. Luxury vehicles are available in any size vehicle, from small to large, and in any price range. Based on the size and features provided by luxury vehicles, others segment is further sub-segmented as premium compact vehicles, entry-level luxury or compact executive vehicles, mid-size luxury or executive vehicles, high-end luxury or full-size luxury vehicles, and ultra-luxury vehicles. Geographically, the market is segmented as North America, Europe, Asia, and RoW.

The U.S., China, Japan, Canada, India, and other European countries are the major markets for luxury vehicles. The global luxury vehicles market is forecasted to have positive growth in the near future. Increasing disposable income is the key factor for the market growth globally. In addition, automobile manufacturers and other financial institutions provide various loan schemes which make it easy for the customers to maintain their status in the society. This is one of the factors increasing the demand of luxury vehicles in the developing nations which positively impacts the growth of global luxury vehicles market. On the other hand, rising fuel prices in developing countries such as India may act as market restraints, hindering growth of the global market.

Key players of the global luxury market are BMW, Mercedes-Benz, Jaguar, Audi, Volvo, Ferrari, and Land Rover. Other major players in the market include Rolls-Royce, Bentley, Lamborghini, Lexus, and Cadillac. Some of the manufacturers may be either stand-alone companies such as BMW and Mercedes, while others may be a division or a subsidiary of a mass market automaker such as Lexus, which is a part of Toyota.

Luxury Vehicles Market: Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East & Africa

Related Reports

Nuclear Air Filters Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

Price : $ 3599.00 | Report Code: ZMR-1501 | Report Format:

Global Nuclear Air Filters Market: Overview The opportunity for the nuclear air filters market is growing owing to the growth of the nuclear energy market worldwide. The market is completely dependent on the consumption of the nuclear power facilities, thus following the trends of the nuclear en...Read More

Intelligent Pump Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

Price : $ 3599.00 | Report Code: ZMR-1499 | Report Format:

Global Intelligent Pump Market: Overview A wide range of benefits is offered by the intelligent pumps, which includes better maintenance plans and predictions, access to the real-time operating data, and wireless monitoring and control. In the past the intelligent pumps were installed, chiefly f...Read More

Industrial Refrigeration Systems Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

Price : $ 3599.00 | Report Code: ZMR-1460 | Report Format:

Global Industrial Refrigeration Systems Market: Overview Refrigeration is the process of removing excess heat from the space and transfer it into the environment. The refrigeration system is used in the refrigerated warehouses to lower the temperature and prevent food products from getting spoil...Read More

HVAC Controls Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

Price : $ 3599.00 | Report Code: ZMR-1455 | Report Format:

Global HVAC Controls Market: Overview HVAC stands for heating, ventilation, and air conditioning system, it is used for regulating the air conditioning and heating system. Increasing consumption of the energy globally has created problems in the environment, money, and politics. HVAC equipment i...Read More

Explosive Detectors Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

Price : $ 3599.00 | Report Code: ZMR-1318 | Report Format:

Global Explosive Detectors Market: Overview To detect the explosives of little magnitude various technologies are used depending on the size of the object; this is done by using automatic security equipment which is known as explosive detectors. This detection of the explosives can be done using...Read More

Choose License Type:
Latest Published Reports

View All Published Reports