Luxury Vehicle Market - 39% of Growth to Originate from Europe|Driven by Integration of Advanced Safety Technologies in Luxury Cars to Gain Higher Safety Ratings| Technavio

NEW YORK, March 28, 2022 -- The "Luxury Vehicle Market by Type (Passenger cars and commercial vehicles) and Geography (Europe, APAC, North America, MEA, and South America) - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. 39% of the market's growth will originate from Europe during the forecast period. Germany and France are the key markets for the luxury vehicle market in Europe. Market growth in this region will be faster than the growth of the market in South America and North America. The emission norms will facilitate the luxury vehicle market growth in Europe over the forecast period. 

The potential growth difference for the luxury vehicle market between 2021 and 2026 is 3251.30  thousand units. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.

Key Market Dynamics:

• Market Driver - The integration of advanced safety technologies in luxury cars to gain higher safety ratings is one of the key drivers supporting the luxury vehicle market growth. The automotive industry in the country is witnessing the development of safety technologies, which are making luxury vehicles safer and more reliable on roads. SUVs are known for reliability combined with the fuel efficiency and comfort of cars. The high fatality rates due to the growing number of accidents have pushed automotive OEMs to incorporate new safety features to make the 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 compared with SUVs. Such safety technologies are being introduced in crossovers on a larger scale will positively impact the market growth during the forecast period.
• Market Challenges - The decline in the automotive industry due to the global semiconductor chip shortage is one of the factors hindering the luxury vehicle market growth. For instance, the entire car industry is amid a severe parts shortage forcing carmakers to halt production and slash exports to Australia. Also, vendors such as Toyota were one of the worst affected in 2021, and thus, production slowed down in Australia. Moreover, Australian new-car buyers are being urged to get in the queue and order early to avoid delays, as data reveals the global semiconductor shortage could continue for 2022 as well. Moreover, the semiconductor chip shortage faced by American and European key vendors would negatively impact the market in focus during the forecast period.

To learn about additional key drivers, trends, and challenges - Read our FREE Sample Report right now!

Segmentation Analysis

The luxury vehicle market report is segmented by Type (Passenger cars and Commercial vehicles) and Geography (Europe, APAC, North America, MEA, and South America). 

The luxury vehicle market share growth by the passenger cars segment will be significant for revenue generation. The growth of the global luxury vehicle market is expected to be in proportion with the growth of the luxury passenger cars market. The luxury passenger cars can be further sub-segmented into executive luxury cars and super luxury cars. The executive luxury cars segment is dominated by three German vehicle manufacturers: Volkswagen AG's subsidiary brand AUDI AG, Bayerische Motoren Werke (BMW) AG, and Daimler AG's brand Mercedes-Benz Cars. Of five, four luxury cars sold globally are from one of these manufacturers. The demand for luxury cars is increasing globally, which pushes auto manufacturers to focus on their luxury segment. Such increasing demand is driving the segment growth.

View our sample report for additional insights into the contribution of all the segments & 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 compete in the market.·   

• 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.
• Zhejiang Geely Holding Group
• To gain access to more vendor profiles with their key offerings available with Technavio, Click Here

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Key Topics Covered:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

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
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• 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.
• Zhejiang Geely Holding Group

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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