Zion Market Research Global Luxury vehicles market, 2015–2021 | Page 3

Luxury vehicles market
On the basis of type, luxury vehicles are classified as sedan, station wagon, hatchback,
coupe, and convertible body styles. Further, they are segmented into minivans, crossovers,
sport utility vehicles, and others. Luxury vehicles are available in any size vehicle, from
small to large, and in any price range. Based on the size and features provided by luxury
vehicles, others segment is further sub-segmented as premium compact vehicles, entry-
level luxury or compact executive vehicles, mid-size luxury or executive vehicles, high-end
luxury or full-size luxury vehicles, and ultra-luxury vehicles. Geographically, the market is
segmented as North America, Europe, Asia, and RoW.
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The U.S., China, Japan, Canada, India, and other European countries are the major
markets for luxury vehicles. The global luxury vehicles market is forecasted to have positive
growth in the near future. Increasing disposable income is the key factor for the market
growth globally. In addition, automobile manufacturers and other financial institutions
provide various loan schemes which make it easy for the customers to maintain their status
in the society. This is one of the factors increasing the demand of luxury vehicles in the
developing nations which positively impacts the growth of global luxury vehicles market. On
the other hand, rising fuel prices in developing countries such as India may act as market
restraints, hindering growth of the global market.
Key players of the global luxury market are BMW, Mercedes-Benz, Jaguar, Audi, Volvo,
Ferrari, and Land Rover. Other major players in the market include Rolls-Royce, Bentley,
Lamborghini, Lexus, and Cadillac. Some of the manufacturers may be either stand-alone