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.
To the contrary, factors such as rising price level of fuels, low dealership penetration, high import tariffs on luxury cars, rising import volume of second-hand luxury cars are expected to cause massive restraint to the overall growth of the market.
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MRFR profiled key global Automotive Luxury Vehicle Market players. They are:
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.
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 market includes 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, the market comprises 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.
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 holds the largest share in the global market due to various burgeoning factors. This includes increasing purchasing power, robust economy, increasing demand for luxury vehicles, and developed infrastructures.
The European region holds a huge market for some of the world’s leading and high-end vehicle manufacturers. This aids the region to stand out as one of the pioneering regional players in the global automotive luxury vehicle market. Although the prevailing economic challenges do not offer much scope for the market to consolidate, it has nonetheless been able to maintain a high percentage of sales of its higher-end expensive car models.
Key Questions Addressed by the Report
- What was the historic market size (2020)?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate by 2023?
- How are the key players in this market?
- What are the strategies adopted by key players?
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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 Automotive Luxury Vehicle Market: By Region, 2017-2023
Table 2 North America Luxury Vehicle Market: By Country, 2017-2023
Table 3 Europe Luxury Vehicle Market: By Country, 2017-2023
Table 4 Asia Pacific Luxury Vehicle Market: By Country, 2017-2023
Table 5 RoW Luxury Vehicle Market: By Country, 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
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