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The luxury car market is growing faster due to the increasing technological advancements like the Internet of Things (IoT) and real-time information solutions being integrated into all-EV charging station systems for electric luxury cars. Leading manufacturers are also developing the latest smart mobility technologies, such retina recognition, autonomous driving, and personal voice assistance. The luxury car market growth is accelerated by the rise in demand for premium and upscale vehicles in addition to an increase in cars powered by diesel engines. Additionally, a rise in passenger car sales brought on by consumer desire for superior vehicles are one of the key luxury car market trends. The luxury car market also benefits from the expansion of the automotive industry, a boom in investments, and rising disposable income.
As per the luxury car market analysis, the electric segment is expected to grow at a significant rate in the forecast period. The segment's growth is expected to be driven by the factor that governments all over the world are strengthening automobile emission limits, as concern for the environment and environmental preservation grows.
As a result, there is an increasing need for environmentally friendly and sustainable transportation, such as electric automobiles. Various governments are also providing increased subsidies and incentives to these car owners, which is expected to further propel the luxury cars market forward.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Luxury Car Market Analysis
8.1 Key Industry Highlights
8.2 Global Luxury Car Historical Market (2018-2023)
8.3 Global Luxury Car Market Forecast (2024-2032)
8.4 Global Luxury Car Market by Vehicle Type
8.4.1 Hatchback
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Sedan
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Sports Utility Vehicle
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Multi-purpose Vehicle
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.5 Global Luxury Car Market by Drive Type
8.5.1 IC Engine
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Electric
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Luxury Car Market by Price Category
8.6.1 USD 80,000 to USD 149,000
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 USD 150,000 to USD 299,000
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 USD 300,000 to USD 500,000
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Above USD 500,000.
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.7 Global Luxury Car Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Luxury Car Market Analysis
9.1 Market by Vehicle Type
9.2 Market by Drive Type
9.3 Market by Price Category
9.4 Market by Country
9.4.1 United States of America
9.4.1.1 Historical Trend (2018-2023)
9.4.1.2 Forecast Trend (2024-2032)
9.4.2 Canada
9.4.2.1 Historical Trend (2018-2023)
9.4.2.2 Forecast Trend (2024-2032)
10 Europe Luxury Car Market Analysis
10.1 Market by Vehicle Type
10.2 Market by Drive Type
10.3 Market by Price Category
10.4 Market by Country
10.4.1 United Kingdom
10.4.1.1 Historical Trend (2018-2023)
10.4.1.2 Forecast Trend (2024-2032)
10.4.2 Germany
10.4.2.1 Historical Trend (2018-2023)
10.4.2.2 Forecast Trend (2024-2032)
10.4.3 France
10.4.3.1 Historical Trend (2018-2023)
10.4.3.2 Forecast Trend (2024-2032)
10.4.4 Italy
10.4.4.1 Historical Trend (2018-2023)
10.4.4.2 Forecast Trend (2024-2032)
10.4.5 Others
11 Asia Pacific Luxury Car Market Analysis
11.1 Market by Vehicle Type
11.2 Market by Drive Type
11.3 Market by Price Category
11.4 Market by Country
11.4.1 China
11.4.1.1 Historical Trend (2018-2023)
11.4.1.2 Forecast Trend (2024-2032)
11.4.2 Japan
11.4.2.1 Historical Trend (2018-2023)
11.4.2.2 Forecast Trend (2024-2032)
11.4.3 India
11.4.3.1 Historical Trend (2018-2023)
11.4.3.2 Forecast Trend (2024-2032)
11.4.4 ASEAN
11.4.4.1 Historical Trend (2018-2023)
11.4.4.2 Forecast Trend (2024-2032)
11.4.5 South Korea
11.4.5.1 Historical Trend (2018-2023)
11.4.5.2 Forecast Trend (2024-2032)
11.4.6 Australia
11.4.6.1 Historical Trend (2018-2023)
11.4.6.2 Forecast Trend (2024-2032)
11.4.7 Others
12 Latin America Luxury Car Market Analysis
12.1 Market by Vehicle Type
12.2 Market by Drive Type
12.3 Market by Price Category
12.4 Market by Country
12.4.1 Brazil
12.4.1.1 Historical Trend (2018-2023)
12.4.1.2 Forecast Trend (2024-2032)
12.4.2 Argentina
12.4.2.1 Historical Trend (2018-2023)
12.4.2.2 Forecast Trend (2024-2032)
12.4.3 Mexico
12.4.3.1 Historical Trend (2018-2023)
12.4.3.2 Forecast Trend (2024-2032)
12.4.4 Others
13 Middle East and Africa Luxury Car Market Analysis
13.1 Market by Vehicle Type
13.2 Market by Drive Type
13.3 Market by Price Category
13.4 Market by Country
13.4.1 Saudi Arabia
13.4.1.1 Historical Trend (2018-2023)
13.4.1.2 Forecast Trend (2024-2032)
13.4.2 United Arab Emirates
13.4.2.1 Historical Trend (2018-2023)
13.4.2.2 Forecast Trend (2024-2032)
13.4.3 Nigeria
13.4.3.1 Historical Trend (2018-2023)
13.4.3.2 Forecast Trend (2024-2032)
13.4.4 South Africa
13.4.4.1 Historical Trend (2018-2023)
13.4.4.2 Forecast Trend (2024-2032)
13.4.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 PESTEL Analysis
14.3.1 Political
14.3.2 Economic
14.3.3 Social
14.3.4 Technological
14.3.5 Environment
14.3.6 Legal
14.4 Key Indicators for Demand
14.5 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Ferrari S.p.A
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Bugatti Automobiles
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Rolls-Royce Motor Cars
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Daimler AG
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Automobili Lamborghini S.p.A.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Koenigsegg Automotive AB
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Aston Martin Lagonda Limited
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Bentley Motors Limited
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Horacio Pagani S.p.A
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Dr. Ing. h.c. F. Porsche AG
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Toyota Motor Corporation
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Tesla, Inc.
15.2.12.1 Company Overview
15.2.12.2 Product Portfolio
15.2.12.3 Demographic Reach and Achievements
15.2.12.4 Certifications
15.2.13 General Motors
15.2.13.1 Company Overview
15.2.13.2 Product Portfolio
15.2.13.3 Demographic Reach and Achievements
15.2.13.4 Certifications
15.2.14 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Luxury Car Market: Key Industry Highlights, 2018 and 2032
2. Global Luxury Car Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
3. Global Luxury Car Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
4. Global Luxury Car Historical Market: Breakup by Drive Type (USD Million), 2018-2023
5. Global Luxury Car Market Forecast: Breakup by Drive Type (USD Million), 2024-2032
6. Global Luxury Car Historical Market: Breakup by Price Category (USD Million), 2018-2023
7. Global Luxury Car Market Forecast: Breakup by Price Category (USD Million), 2024-2032
8. Global Luxury Car Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Luxury Car Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Luxury Car Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Luxury Car Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Luxury Car Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Luxury Car Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Luxury Car Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Luxury Car Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Luxury Car Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Luxury Car Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Luxury Car Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Luxury Car Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Luxury Car Market Structure
In 2023, the global market for luxury cars attained a value of USD 483.84 billion.
The market is projected to grow at a CAGR of 4.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 744.20 billion by 2032.
The major drivers of the luxury car market expected to aid the market growth are an increase in company collaborations, heightening purchasing power, rising trend of electric luxury cars, and an increase in demand for comfortable driving experiences.
The key market trends guiding the growth of the market include the surging demand for pre-owned luxury automobiles and the desire for electrified and autonomous vehicles utilising artificial intelligence and machine learning features.
North America, Europe, and Latin America are the major regions in the global luxury car market.
The significant drive types include IC engine and electric.
The major players in the market are Ferrari S.p.A, Bugatti Automobiles, Rolls-Royce Motor Cars, Daimler AG, Automobili Lamborghini S.p.A., Koenigsegg Automotive AB, Aston Martin Lagonda Limited, Bentley Motors Limited, Horacio Pagani S.p.A, Dr. Ing. h.c. F. Porsche AG, Toyota Motor Corporation, Tesla, Inc., and General Motors, among others.
The various vehicle types in the market are hatchback, sedan, sports utility vehicle, and multi-purpose vehicle.
Engines, transmissions, sound systems, telematics, safety features, and interior materials are frequently of greater quality in luxury cars, and they are typically priced higher.
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