Japan Automotive Luxury Vehicle Market Overview:
According to Market Research Future (MRFR),
the global Japan Automotive Luxury Vehicle Market is estimated to grow at 7.50%
CAGR during the assessment period (2023-2032). The COVID-19 outbreak has deeply
impacted the traditional method of offline lead generation and selling luxury
cars. However, manufacturers and dealers have shifted from the offline lead
generation model to online sales. This initiative to engage with prospective
buyers through digital channels proves to be a game-changer in market
growth.
The global Japan
Automotive Luxury Vehicle Market size is garnering remarkable growth. The
market growth is attributed to the rising sales of luxury vehicles. Besides,
the continual product launches and increasing aftermarket activities drive the
growth of the market. The strong economic growth worldwide had been continually
spurring the demand in the automotive industry until the recent Coronavirus
pandemic. However, the market is again experiencing an uptick over the past 4-5
months, further escalating the market growth.
Additionally, rapid advances in
technologies and manufacturing technologies influence the growth of the market.
Rising adoption of luxury cars to add comfort in vehicles and minimize
maintenance costs pushes market growth. The growing sales of luxury vehicles
and sports cars impact the growth of the market positively. Also, the constant
rise in smart and autonomous vehicle sales boosts market revenues.
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sample report of Japan Automotive Luxury Vehicle Market
Japan Automotive Luxury Vehicle Market –
Competitive Analysis
Highly
competitive, the Japan Automotive Luxury Vehicle Market appears fragmented with
the presence of several notable industry players. These players initiate
strategic moves such as mergers & acquisitions, collaboration, innovation,
and brand reinforcement to gain a larger competitive share.
Major
Players:
Players
leading the Japan Automotive Luxury Vehicle
Market include BMW (Germany), Tesla, Inc. (US), Denso Corporation (Japan),
Delphi Technologies, Inc. (UK), Daimler AG (Germany), Audi AG (Germany), Robert
Bosch GmbH (Germany), NXP Semiconductors NV (Netherlands), Infineon
Technologies AG (Germany), General Motors Company (US), Porsche AG (Germany),
and Continental AG (Germany), among others.
Japan Automotive Luxury Vehicle Market –
Segmentation
The
report is segmented into five dynamics.
·
By Body Type : SUV, Sedan, Hatchback, and others.
·
By Component: LiDAR, Biometric, Sensors, Radar, and others.
·
By Fuel Type : Petrol, Diesel, ICE, BEV, FCEV,
and Hybrid.
·
By End-User : Car Pooling, Personal Mobility,
and others.
·
By Regions : Americas, Europe, Asia Pacific, and the
Rest-of-the-World.
Global Automotive Luxury Vehicle Industry/ Innovation/
Related News:
Global Automotive Luxury Vehicle September 02, 2020
---- British
carmaker Rolls-Royce launched USD 311,000 car as the demand for luxury vehicles
is returning to normal despite the COVID 19 Crises continues. At the launch of
the Rolls-Royce Ghost model, Rolls-Royce CEO said the market for luxury cars is
more or less back to normal in Asia, Europe, and the Middle East. Rolls-Royce
sales were down 30% in the first half of the year, but things were now looking
up. The car manufacturer said the latest Ghost had been completely redesigned,
making it the most technologically advanced Rolls-Royce yet.
Japan Automotive Luxury Vehicle Market –
Regional Analysis
Europe
leads the global Japan Automotive Luxury Vehicle Market. The region is the
global hub for expensive and high-end car manufacturers. Besides, the
demographics in this region are known for their keen interest and spending on
lavish, high-performance vehicles. Moreover, the largest market share
attributes to the presence of the well-established automotive industry in the
region.
The
increase in sales and R&D investments in luxury vehicle developments boost
the growth of the regional market. Germany houses the world's largest luxury
car brands, providing a considerable impetus to the regional market's
development. The European automobile industry is projected to retain its
dominance throughout the estimated period.
North
America stands second in the global Japan Automotive Luxury Vehicle Market. The
region is a promising market for luxury vehicles. Additionally, the constant
rise in the automotive industry and increasing demand for personal uses
substantiate market growth. With a more extensive fleet of premium and luxury
passenger cars, the US accounts for a substantial share in the regional market.
The North American Japan Automotive Luxury Vehicle Market is estimated to create
a notable revenue pocket.
The Asia
Pacific Japan Automotive Luxury Vehicle Market is growing rapidly. The region
is expected to be the next automotive hub of the world. Factors such as the
increasing production & sales of luxury vehicles influence the growth of
the regional market. Moreover, the well-established automobile industry in this
region creates substantial opportunities for the region's automobile industry.
Japan,
China, South Korea, and India are the largest markets for luxury vehicles.
Furthermore, increasing vehicle maintenance costs and safety concerns impact
the regional market growth positively. The APAC Japan Automotive Luxury Vehicle
Market is anticipated to grow rapidly during the forecast period.
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