Luxury vehicle market – 39% of growth will come from Europe | Driven by the integration of advanced safety technologies into luxury cars to achieve higher safety ratings

NEW YORK, March 28, 2022 /PRNewswire/ — The “Luxury Vehicles Market by Type (Passenger Cars and Commercial Vehicles) and Geography (EuropeACPA, North AmericaAME and South America) – Forecasts and Analysis 2022-2026report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proud to have partnered with over 100 Fortune 500 companies for over 16 years. 39% of market growth will come from Europe during the forecast period. Germany and France are the key markets for the luxury vehicle market in Europe. The growth of the market in this region will be faster than the growth of the market in South America and North America. Emission standards will facilitate the growth of the luxury vehicle market by Europe over the forecast period.

Technavio has announced its latest market research report titled Luxury Vehicles Market by Type and Geography – Forecast and Analysis 2022-2026

The difference in potential growth of the luxury vehicle market between 2021 and 2026 is 3251.30 thousand units. To get the exact annual growth variance and annual growth rate, Talk to our analyst.

Key Market Dynamics:

  • market engine – The integrating advanced safety technologies into luxury cars to achieve higher safety ratings is one of the main growth drivers for the luxury vehicle market. The country’s automotive industry is witnessing the development of safety technologies, which make luxury vehicles safer and more reliable on the roads. SUVs are known for their reliability combined with the fuel efficiency and comfort of cars. High fatality rates due to the increasing number of accidents have prompted automotive OEMs to incorporate new safety features to make crossovers safer to drive. The penetration rate of such advanced safety systems, such as emergency brake assist, lane departure warning system and others, is found to be higher in sedans than in SUVs. Such security technologies introduced in larger scale crossovers will have a positive impact on the market growth over the forecast period.

  • Market Challenges – the decline of automotive industry due to global shortage of semiconductor chips is one of the factors hindering the growth of the luxury vehicle market. For example, the entire automotive industry is experiencing a severe shortage of parts, forcing automakers to halt production and reduce exports to Australia. Additionally, suppliers such as Toyota have been one of the hardest hit in 2021 and as a result production has slowed in Australia. Additionally, Australian new-car buyers are urged to queue and order early to avoid delays as data reveals that the global semiconductor shortage may also continue into 2022. Additionally, the chip shortage semiconductor devices faced by major US and European vendors would negatively impact the targeted market during the forecast period.

To learn more about key drivers, trends and additional challenges – Read our FREE sample report now!

Segmentation analysis

The Luxury Vehicles Market report is segmented by Type (Passenger vehicles and Utility vehicles) and Geography (EuropeACPA, North AmericaAME and South America).

The growth of the market share of luxury vehicles by Particular Cars segment will be important for revenue generation. The growth of the global luxury vehicle market is expected to be commensurate with the growth of the luxury passenger car market. Luxury passenger cars can be subdivided into executive luxury cars and super luxury cars. The executive luxury car segment is dominated by three German automakers: the subsidiary brand of Volkswagen AG AUDI SA, Bayerische Motoren Werke (BMW) AG and the Mercedes-Benz Cars brand of Daimler AG. Out of five, four luxury cars sold worldwide come from one of these manufacturers. The demand for luxury cars is increasing globally, which is pushing automakers to focus on their luxury segment. This growing demand is driving the growth of the segment.

See our sample report for additional information on the contribution of all segments and regional opportunities in the report.

Some companies mentioned

The luxury vehicle market is fragmented and the vendors are deploying growth strategies such as quality, price, service, brand image, distribution and marketing to be competitive in the market.

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Scope of the luxury vehicle market

Report cover

Details

Page number

120

Year of reference

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of 6.45%

Market Growth 2022-2026

3251.30 thousand units

Market structure

Fragmented

Annual growth (%)

5.93

Successful market contribution

Europe at 39%

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

Bayerische Motoren Werke AG, Ford Motor Co., General Motors Co., Honda Motor Co. Ltd., Mercedes Benz AG, Nissan Motor Co. Ltd., Stellantis NV, Tata Motors Ltd., Tesla Inc. and Zhejiang Geely Holding Group

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Main topics covered:

Abstract

Market landscape

  • Market ecosystem

  • Value chain analysis

Market sizing

Five forces analysis

Market segmentation by type

  • Market segments

  • Comparison by type

  • Passenger cars – Market size and forecast 2021-2026

  • Commercial vehicles – Market size and forecast 2021-2026

  • Market Opportunity by Type

Customer landscape

Geographic landscape

  • Geographic segmentation

  • Geographic comparison

  • Europe – Market size and forecast 2021-2026

  • APAC – Market size and forecast 2021-2026

  • North America – Market size and forecast 2021-2026

  • MEA – Market size and forecast 2021-2026

  • South America – Market size and forecast 2021-2026

  • Main leading countries

  • Market Opportunity by Geography

  • Market factors

  • Market challenges

  • Market trends

Supplier Landscape

  • Overview

  • Landscape disturbance

Vendor analysis

  • Suppliers Covered

  • Positioning on the supplier market

  • Bayerische Motoren Werke AG

  • Ford Motor Co.

  • General Motors Co.

  • Honda Motor Co.Ltd.

  • Mercedes-Benz AG

  • Nissan Motor Co.Ltd.

  • Stellantis SA

  • Tata Motors Ltd.

  • Tesla Inc.

  • Zhejiang Geely Holding Group

appendix

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