Luxury Car Market by 2030 Getting Ready For Future Growth | Volkswagen AG, Daimler AG, Lexus, Infiniti, BMW AG, Volvo Car, Audi AG, Aston Martin Lagonda, Tesla, and Ferrari | Industry to Rake $733.2 billion, at 5.2% CAGR

The surge in demand for luxury vehicles and inclination toward comfortable driving experience drive the growth of the global luxury car market.

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, 2019–2026." 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.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/6345

Drivers, restraints, and opportunities

Surge in demand for luxury vehicles and inclination toward comfortable driving experience drive the growth of the global luxury car market. However, expensive nature of luxury cars hinders the market growth. On the other hand, advent of electric luxury cars and 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 advent of new range of luxury SUVs that offer enhanced comfort and better driving experience. The research also analyzed the segments including sedan and hatchback.

For purchase inquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/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 surge in demand for high-end and comfortable vehicles along with 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 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 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 advent of new range of luxury vehicles and expansion of automobile manufacturers into the region.

Browse Complete Report at https://www.alliedmarketresearch.com/luxury-car-market-A05980

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.

Luxury Car Market to Reach $733.2 Bn, Globally, by 2026 at 5.2% CAGR: Allied Market Research | https://www.prnewswire.com/news-releases/luxury-car-market-to-reach-733-2-bn-globally-by-2026-at-5-2-cagr-allied-market-research-301006445.html

Luxury Car Market to Reach $733.2 Billion by 2026: Allied Market Research | https://www.globenewswire.com/news-release/2020/03/24/2005573/0/en/Luxury-Car-Market-to-Reach-733-2-Billion-by-2026-Allied-Market-Research.html

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com

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 domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

This release was published on openPR.