Luxury Car Market Report: Trends, Forecast and Competitive Analysis to 2030

Luxury Car Trends and Forecast

The future of the global luxury car market looks promising with opportunities in the internal combustion engine and electric markets. The global luxury car market is expected to reach an estimated $24.9 billion by 2030 with a CAGR of 9.7% from 2024 to 2030. The major drivers for this market are the growing number of extremely wealthy people and rising disposable income, increasing desire for excellent driving experiences and premium automobiles, along with the manufacturing of electric luxury vehicles and the expanding use of autonomous driving technologies.

A more than 150-page report is developed to help in your business decisions.

Luxury Car by Segment

The study includes a forecast for the global luxury car by type, propulsion type, and region.

Luxury Car Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Hatchback
• Sedan
• Sports Utility

Luxury Car Market by Propulsion Type [Shipment Analysis by Value from 2018 to 2030]:

• Internal Combustion Engine
• Electric

Luxury Car Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Luxury Car Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies luxury car companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the luxury car companies profiled in this report include-

• Mercedes-Benz
• Audi
• BMW
• Lexus
• Porsche
• Jaguar Land Rover
• Cadillac
• Maserati
• Volvo
• Genesis

Luxury Car Market Insights

Lucintel forecasts that sports utility will remain the largest segment over the forecast period due to increased consumer preference for sport utility vehicles owing to a number of elements, including practicality, perceived safety, style, and convenience.

Europe will remain the largest region over the forecast period due to developed auto industry, existence of multiple automakers, as well as, innovative automotive manufacturing sector and advantageous governmental regulations.

Features of the Global Luxury Car Market

Market Size Estimates: Luxury car market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Luxury car market size by type, propulsion type, and region in terms of value ($B).

Regional Analysis: Luxury car market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, propulsion type, and regions for the luxury car market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the luxury car market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the luxury car market size?

Answer: The global luxury car market is expected to reach an estimated $24.9 billion by 2030.

Q2. What is the growth forecast for luxury car market?

Answer: The global luxury car market is expected to grow with a CAGR of 9.7% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the luxury car market?

Answer: The major drivers for this market are the growing number of extremely wealthy people and rising disposable income, increasing desire for excellent driving experiences and premium automobiles, along with the manufacturing of electric luxury vehicles and the expanding use of autonomous driving technologies.

Q4. What are the major segments for luxury car market?

Answer: The future of the global luxury car market looks promising with opportunities in the internal combustion engine and electric markets.

Q5. Who are the key luxury car market companies?

Answer: Some of the key luxury car companies are as follows.

• Mercedes-Benz
• Audi
• BMW
• Lexus
• Porsche
• Jaguar Land Rover
• Cadillac
• Maserati
• Volvo
• Genesis

Q6. Which luxury car market segment will be the largest in future?

Answer: Lucintel forecasts that sports utility will remain the largest segment over the forecast period due to increased consumer preference for sport utility vehicles owing to a number of elements, including practicality, perceived safety, style, and convenience.

Q7. In luxury car market, which region is expected to be the largest in next 5 years?

Answer: Europe will remain the largest region over the forecast period due to developed auto industry, existence of multiple automakers, as well as, innovative automotive manufacturing sector and advantageous governmental regulations.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the luxury car market by type (hatchback, sedan, and sports utility), propulsion type (internal combustion engine and electric), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?