Luxury Van Market : Shows Increasing Demand To Be
Observed In The Coming Decade
Luxury Van Market research provides industry analysis by type,
manufacturer, application along with key factors influencing the
growth of the market which include growth drivers, restraints,
opportunities and challenges, strategically profile key players and
comprehensively
analyze
their
market
share
and
core
competencies.
Luxury vans are automobiles larger than SUVs and relatively smaller than buses or trucks. They
are mostly used for passenger transport for business or leisure applications. Depending on the
custom-made or high-end designs, these vehicles can accommodate a group of 12 to 15 people.
These are featured with additional comfort, safety, space, technology, and design in relation to
conventional RVs. End users of these vehicles include the individuals and fleet owners, who
utilize the vehicle for both, business and recreational activities such as camping and tourism.
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Increasing consumer affordability and the requirement to ensure comfort and safety
is expected to be the prominent industry growth driver
According to the World Bank Group, global GDP per capita has increased from US$ 9509.366 in
2010 to US$ 10,150.788 in 2016, prominently driven by the major economies that include the
U.S., China, India, and Korea among few major other economies. This has led to significant
increase in the gross national income, living standards, affordability and the expenditure on
luxury vehicles by consumers across these major economies. Moreover, integration of advanced
functions that include security technologies, electronic stability control, anti-lock brakes, TV