AP NEWS
Press release content from Wired Release. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Wired Release
Press release content from Wired Release. The AP news staff was not involved in its creation.

Luxury Car Market: Electric Luxury Car Industry Segment All Set to Rise at 9.7% CAGR during 2019-2026

February 26, 2020 GMT

Pune, Maharashtra, February 26, 2020 (Wired Release) Allied Analytics Luxury Car Market 2020-2026: On the basis of vehicle type, the sports utility vehicle (SUV) segment dominated the global luxury car market in 2018, in terms of revenue. In addition, on the basis of fuel type, the gasoline segment is expected to lead the market throughout the forecast period. Presently, Asia-Pacific is the highest revenue contributor, followed by Europe, North America, and LAMEA.

The key players analyzed in this luxury car market report are Volkswagen AG, Daimler AG, Lexus, Infiniti, BMW AG, Volvo Car, Audi AG, Aston Martin Lagonda, Tesla, and Ferrari N.V.

Allied Market Research published a report, titled, Luxury Car Market by Vehicle Type (Hatchback, Sedan, and Sport utility vehicle) and Fuel Type (Gasoline, Diesel, and Electric): Global Opportunity Analysis and Industry Forecast, 20192026. According to the research, the global luxury car industry garnered $495.7 billion in 2018 and is expected to generate $733.2 billion by 2026, growing at a CAGR of 5.2% from 2019 to 2026.

Drivers, restraints, and opportunities

The surge in demand for luxury vehicles and inclination toward comfortable driving experience drive the growth of the global luxury car market. However, the expensive nature of luxury cars hinders the market growth. On the other hand, the advent of electric luxury cars and the endeavor of automakers toward improving quality, better equipment, and enhance comfort create new opportunities in the market.

The sport utility vehicle (SUV) segment to maintain its leadership status by 2026

Based on vehicle type, the sport utility vehicle (SUV) segment accounted for nearly half of the total share of the global luxury car market in 2018 and is estimated to maintain its leadership status throughout the forecast period. Moreover, this segment is expected to register the highest CAGR of 5.9% from 2019 to 2026. This is a lucrative segment, owing to the advent of a new range of luxury SUVs that offer enhanced comfort and better driving experience. The research also analyzed the segments including sedan and hatchback.

Download Report Sample (196 Pages PDF) at https://www.alliedmarketresearch.com/request-sample/6345

The gasoline segment to maintain its lead position in terms of revenue by 2026

Based on fuel type, the gasoline segment held the largest market share of the global luxury car market, contributing to more than two-thirds of the total share in 2018, and is estimated to maintain its lead position in terms of revenue by 2026. This is attributed to the surge in demand for high-end and comfortable vehicles along with the production of most of the passenger vehicles driven on gasoline. However, the electric segment is expected to register the highest CAGR of 9.7% from 2019 to 2026, owing to a surge in demand for fuel-efficient vehicles and government regulations for emission control.

North America to grow the fastest

Based on region, North America is estimated to grow at the largest CAGR of 6.7% from 2019 to 2026, owing to the expansion of major players into the region and availability of new car stores. However, Asia-Pacific accounted for the highest market share based on revenue, contributing to nearly half of the global luxury car market in 2018, and is estimated to maintain its dominance during the forecast period. This is due to the advent of a new range of luxury vehicles and the expansion of automobile manufacturers into the region.

Make An Inquiry Before Buying This Report at https://www.alliedmarketresearch.com/purchase-enquiry/6345

Market players grabbing the largest pie

Volkswagen AG

Daimler AG

Lexus

Infiniti

BMW AG

Volvo Car

Audi AG

Aston Martin Lagonda

Tesla

Ferrari N.V.

Avenue | The Market Research Library Access

Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the worlds largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. Avenue is a premium subscription-based model that serves as an informative solution on which the world-leading companies can rely on.

Avenue is a premium subscription-based model that serves as an informative solution on which the world-leading companies can rely on.

Sign up and start using your 14-day free trial: https://www.alliedmarketresearch.com/avenueTrial

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This content has been distributed via WiredRelease press release distribution service. For press release service enquiry, please reach us at contact@wiredrelease.com.