Luxury Cars Market to record USD 78.32 Bn incremental growth; Market to have Fragmented Structure

NEW YORK, Nov. 10, 2022 /PRNewswire/ — The global luxury cars market size is expected to grow by USD 78.32 billion, accelerating at a CAGR of 4.64% between 2021 and 2026, according to the latest market research report by Technavio. The market is highly competitive, with an increasing demand for luxury cars. The brand position is a major factor by which a company can differentiate itself from other vendors. Selling luxury variant cars under the same brand name would negatively impact sales. Therefore, almost every vehicle manufacturer has positioned its luxury brand under a different brand name. Changes in tax policies in various countries are increasing the overall cost of cars, and the rise in demand for luxury cars is intensifying competition. Cost pressure on luxury car manufacturers is increasing as they have to offer cars at competitive prices. The market is highly capital-intensive, with high entry barriers. Therefore, the possibility of new players entering the market is low during the forecast period. Get detailed insights into the vendor landscape. Download Free Sample Report 

Luxury Cars Market 2022-2026: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The luxury cars market report covers the following areas:

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Luxury Cars Market 2022-2026: Segmentation

The global luxury cars market is segmented as below:

The executive luxury cars segment is expected to have a steady growth rate during the forecast period. The executive luxury cars segment is dominated by three German automakers Audi, BMW, and Mercedes-Benz. The demand for luxury cars is increasing across all the regions, which forces auto manufacturers to concentrate on their luxury segment cars. Most auto manufacturers have a separate brand for luxury cars. For instance, Ford Motor Company has Lincoln, Toyota Motor Corporation has Lexus, Honda Motor has Acura, and Nissan has INFINITI. BMW, which is a luxury car company, has a separate segment for its super-luxury cars named Rolls-Royce. This type of brand positioning has allowed many automotive players to enter the luxury cars market, which has balanced the increasing demand for executive luxury cars across all regions.

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APAC will account for 37% of the global market share during the forecast period. Emerging markets like China and India are witnessing significant growth in the sales of luxury cars. The major reason for this would be a rapid increase in high-net-worth individuals. Identify key segments and regions to invest in over the forecast period. Buy Report Now!

 Luxury Cars Market 2022-2026: Vendor Analysis

AB Volvo, Aston Martin Lagonda Ltd., BYD Co. Ltd., Ford Motor Co., General Motors Co., Honda Motor Co. Ltd., McLaren Group Ltd., Mercedes Benz Group AG, Pagani Automobili Spa, Renault sas, Stellantis NV, Tata Sons Pvt. Ltd., Tesla Inc., Toyota Motor Corp., and Volkswagen AG are identified as major market participants.

Luxury Cars Market 2022-2026: Key Highlights

• CAGR of the market during the forecast period 2022-2026

• Detailed information on factors that will assist luxury cars market growth during the next five years

• Estimation of the luxury cars market size and its contribution to the parent market

• Predictions on upcoming trends and changes in consumer behavior

• The growth of the luxury cars market

• Analysis of the market’s competitive landscape and detailed information on vendors

• Comprehensive details of factors that will challenge the growth of luxury cars market vendors

Related Reports:

• The luxury vehicle market share is expected to increase by 3251.30 thousand units from 2022 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.45%. The integration of advanced safety technologies in luxury cars to gain higher safety ratings is notably driving the luxury vehicle market growth, although factors such as the decline in the automotive industry due to global semiconductor chip shortage may impede the market growth.

• The luxury car market share in Australia is expected to increase by 27350.00 units from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.12%. The integration of advanced safety technologies in luxury cars to gain higher safety ratings is notably driving the luxury car market growth in Australia, although factors such as the decline in the automotive industry due to global semiconductor chip shortage may impede the market growth.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Product

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

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SOURCE Technavio