China Luxury Car Market Size 2022: Share, Trends and Forecast 2027

According to the latest report by IMARC Group, titled, "China Luxury Car Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", The China luxury car market size reached US$ 143 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 233 Billion by 2027, exhibiting a growth rate (CAGR) of 8.4% during 2022-2027.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

A luxury car refers to a wide range of categorized advanced vehicles equipped with lavish interiors, enhanced capacities, and the latest safety technologies to provide optimal comfort to passengers and drivers. It is more sophisticated as well as offers superior competence and a higher amount of convenience than moderately priced conventional automobiles. In line with this, a luxury car is customizable, aesthetically appealing, and comprises Bluetooth or wireless fidelity (Wi-Fi) entertainment systems, sensors, anti-lock brakes, cameras, etc. These devices reduce the risk of accidents by providing a rear view and security alerts and optimize overall vehicle performance. Presently, it is commonly available in commercial and passenger vehicles with numerous propulsion types across China.

Request Free Sample Report (Exclusive Offer on this report): https://www.imarcgroup.com/china-luxury-car-market/requestsample

China Luxury Car Market Trends and Drivers:

The growing consumer inclination towards branded autonomous vehicles over conventional transportation modes is primarily driving the China luxury car market. Additionally, the inflating disposable income levels of individuals and the rising offerings of tangible luxurious properties within automobiles are further catalyzing the market growth. Besides this, the widespread adoption of luxury cars, owing to their several associated benefits, including prestige, coexistent beauty and comfort, safety, resale value, state-of-the-art technology, the potential to add individual style, etc., is acting as another significant growth-inducing factor. Moreover, the increasing need for a comfortable driving experience and enhanced security systems to ensure optimal safety of passengers and the launch of favorable policies by government bodies to promote the utilization of sustainable transportation modes, such as premium electric vehicles (EVs), to minimize greenhouse gas (GHG) emissions are propelling the market growth across the country. Apart from this, the elevating integration of machine learning (ML) and artificial intelligence (AI) solutions with automatic security, seat massager, entertainment systems, etc., is anticipated to fuel the China luxury car market over the forecasted period.

China Luxury Car Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Ask Analyst for Instant Discount and Download Full Report with TOC & List of Figure: https://www.imarcgroup.com/china-luxury-car-market

The report has segmented the market based on vehicle type, fuel type, price range and engine capacity.

Breakup by Vehicle Type:
Hatchback
Sedan
Sports Utility Vehicle

Breakup by Fuel Type:
Gasoline
Diesel
Electric

Breakup by Price Range:
Entry-Level
Mid-Level
High-End
Ultra

Breakup by Engine Capacity:
Up to 3,000 CC
Above 3,000 CC

Breakup by Region:
Guangdong
Jiangsu
Zhejiang
Henan
Sichuan
Shanghai
Others

Trending Reports (Book Now with 10% Discount + COVID-19 Scenario):

India Digital Camera Market: https://www.imarcgroup.com/india-digital-camera-market

India Dog Food Market: https://www.imarcgroup.com/india-dog-food-market

India E-Commerce Market- https://www.imarcgroup.com/india-e-commerce-market

India Luxury Car Market- https://www.imarcgroup.com/india-luxury-car-market

India Automotive Wiring Harness Market- https://www.imarcgroup.com/india-automotive-wiring-harness-market

India Health and Wellness Market: https://www.imarcgroup.com/india-health-wellness-market

GCC Soft Skills Training Market: https://www.imarcgroup.com/gcc-soft-skills-training-market

Contact us:

IMARC Group
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Website: https://www.imarcgroup.com
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas: - +1 631 791 1145 | Africa and Europe: - +44-702-409-7331 | Asia: +91-120-433-0800

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.