Automotive Luxury Vehicle Market Analysis 2018 To 2023 - Global Growth, Trends, Size, Share, Key Country, And Regional Outlook To 2023

Automotive Luxury Vehicle Market Analysis 2018 To 2023 - Global Industry Forecast Report, provides Global Automotive Luxury Vehicle Market Size, Share, Trends, Growth, And Regional Outlook by Body Type (SUV, Sedan, Hatchback), Component (LiDAR, Biometric Sensors, Radar), Fuel Type (ICE, BEV, FCEV, Hybrid), End-User (Car Pooling, Personal Mobility), and Region. Automotive Luxury Vehicle Market will Register CAGR of 35% through 2023.

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The key players in automotive luxury vehicle market are Tesla, Inc. (U.S.), BMW (Germany), Denso Corporation (Japan), Daimler AG (Germany), Delphi Technologies, Inc. (U.K), Audi AG (Germany), NXP Semiconductors N.V. (Netherlands), Robert Bosch GmbH (Germany), Infineon Technologies AG (Germany), Porsche AG (Germany), General Motors Company (U.S.), and Continental AG (Germany).

The automotive luxury vehicle market is volatile and highly competitive with the presence of some well-established vendors. The eminent players of the market include Tesla, Inc. (U.S.), Denso Corporation (Japan), Delphi Technologies, Inc. (U.K), NXP Semiconductors N.V. (Netherlands), Infineon Technologies AG (Germany), General Motors Company (U.S.), BMW (Germany), Daimler AG (Germany),Audi AG (Germany),Robert Bosch GmbH (Germany), Porsche AG (Germany),  and Continental AG (Germany). These market participants are continuously implementing various strategies such as mergers, partnership, collaboration, product launches, etc. to gain a substantial edge over the market. The market players compete by price, fuel-efficiency, safety, vehicle technology, and features. Competition in the luxury vehicle market is heating up. As these key players are increasingly investing towards the development of technology, many smaller companies will not be able to keep up with the technological pace. For instance, Tesla Inc.'s near monopoly position may be threatened by new competition faced from General Motors and Honda collaboration. Over the past several years, Tesla has been leading the market for EV batteries. In June 2018, General Motors and Honda jointly announced their venture to produce the next generation batteries for high-end electric vehicles.

There are several factors that are responsible for the growth of the automotive luxury vehicle market in the global scenario. Firstly, the purchasing power of the global automotive consumer has gone up over the years due to the rise in the number of people belonging to the middle class. Secondly, the number of people preferring to have personal automobiles has increased drastically. Thirdly, in a highly competitive market, automakers always try to provide something extra and unique in terms of the value offering to differentiate their product offering.

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