Luxury Car Market in Australia by Propulsion Type and Vehicle Type - Forecast and Analysis 2022-2026

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR71562
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The luxury car market share in Australia is expected to increase by 27350.00 units from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.12%. 

This luxury car market research report of Australia provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the luxury car market segmentation in Australia by propulsion type (IC engine-based vehicles and electric vehicles) and vehicle type (SUV and others). The luxury car market report of Australia also offers information on several market vendors, including Aston Martin Lagonda Ltd., BMW AG, Daimler AG, Ferrari NV, JAGUAR LAND ROVER AUTOMOTIVE PLC, Stellantis NV, Tesla Inc., Toyota Motor Corp., Volkswagen AG, and Volvo Car Corp. among others.

What will the Luxury Car Market Size in Australia be During the Forecast Period?

Download the Free Report Sample to Unlock the Luxury Car Market Size in Australia for the Forecast Period and Other Important Statistics

 

Luxury Car Market in Australia: Key Drivers and Trends

The integration of advanced safety technologies in luxury cars to gain higher safety ratings is notably driving the luxury car market growth in Australia, although factors such as the decline in the automotive industry due to global semiconductor chip shortage may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the luxury car industry in Australia. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Luxury Car Market Driver in Australia

One of the key factors driving growth in the luxury car market in Australia is the integration of advanced safety technologies in luxury cars to gain higher safety ratings. The automotive industry in the country is witnessing the development of safety technologies, which are making luxury vehicles safer and more reliable on roads. The high fatality rates due to the growing number of accidents have pushed automotive OEMs to incorporate new safety features to make the crossovers safer to drive. The penetration rate of such advanced safety systems, such as emergency brake assist, lane departure warning system, collision mitigation warning, blind-spot detection, and automatic emergency braking system, is found to be higher in sedans compared with SUVs. ANCAP ratings and different governments' impetus for safer luxury cars have pushed automakers to incorporate advanced safety systems in their luxury car portfolio to increase their customer base. This introduction of new safety technologies by luxury car manufacturers will drive the demand among consumers in the near future.

Key Luxury Car Market Challenge in Australia

The decline in the automotive industry due to the global semiconductor chip shortage will be a major challenge for the luxury car market in Australia during the forecast period. The chip shortage has pushed carmakers to idle production lines for a long period of time and thus hindered automotive production. The entire car industry is amid a severe parts shortage forcing carmakers to halt production and slash exports to Australia. The semiconductor chip shortage faced by American and European key vendors would negatively impact the market in focus since various luxury cars are being exported from these regions to Australia. Thus, the aforementioned causes will negatively impact the luxury car market in Australia.

This luxury car market in Australia analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Luxury Car Market Vendors in Australia?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Aston Martin Lagonda Ltd.
  • BMW AG
  • Daimler AG
  • Ferrari NV
  • JAGUAR LAND ROVER AUTOMOTIVE PLC
  • Stellantis NV
  • Tesla Inc.
  • Toyota Motor Corp.
  • Volkswagen AG
  • Volvo Car Corp.

 

This statistical study of the luxury car market in Australia encompasses successful business strategies deployed by the key vendors. The luxury car market in Australia is fragmented and the vendors are deploying growth strategies such as focusing on new product launches to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The luxury car market forecast report of Australia offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

What are the Revenue-generating Propulsion Type Segments in the Luxury Car Market in Australia?

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The luxury car market share growth in Australia by the IC engine-based vehicles segment will be significant during the forecast period. The majority of the luxury car market in Australia is penetrated by diesel and gasoline engines. This growth of the segment is attributed to an increase in consumer disposable income, which, in turn, increased the adoption of luxury cars in the country. Technological developments are also resulting in improvements in IC engines in terms of emission, performance, and fuel efficiency. This trend is also expected to foster the growth of this segment of the market.

This report provides an accurate prediction of the contribution of all the segments to the growth of the luxury car market size in Australia and actionable market insights on post COVID-19 impact on each segment.

 

Luxury Car Market Scope in Australia

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.12%

Market growth 2022-2026

27350.00 units

Market structure

Fragmented

YoY growth (%)

3.78

Regional analysis

Australia

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aston Martin Lagonda Ltd., BMW AG, Daimler AG, Ferrari NV, JAGUAR LAND ROVER AUTOMOTIVE PLC, Stellantis NV, Tesla Inc., Toyota Motor Corp., Volkswagen AG, and Volvo Car Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Luxury Car Market Report of Australia?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive luxury car market growth in Australia during the next five years
  • Precise estimation of the luxury car market size in Australia and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of luxury car market vendors in Australia

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2021
    • Market outlook: Forecast for 2021 - 2026

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Propulsion type

    • Market segments
    • Comparison by Propulsion type
    • IC engine-based vehicles - Market size and forecast 2021-2026
    • Electric vehicles - Market size and forecast 2021-2026
    • Market opportunity by Propulsion type

    Market Segmentation by Vehicle type

    • Market segments
    • Comparison by Vehicle type
    • SUV - Market size and forecast 2021-2026
    • Others - Market size and forecast 2021-2026
    • Market opportunity by Vehicle type

    Customer landscape

    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Vendor landscape
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Aston Martin Lagonda Ltd.
    • BMW AG
    • Daimler AG
    • Ferrari NV
    • JAGUAR LAND ROVER AUTOMOTIVE PLC
    • Stellantis NV
    • Tesla Inc.
    • Toyota Motor Corp.
    • Volkswagen AG
    • Volvo Car Corp.

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
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    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
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    The luxury car market growth will increase by $27350.00 units during 2021-2026.
    The luxury car market is expected to grow at a CAGR of 5.12% during 2021-2026.
    Technavio has segmented the luxury car market by other1 (IC engine-based vehicles and Electric vehicles) ,other2 (SUV and Others) , and geographic (Australia).
    Aston Martin Lagonda Ltd., BMW AG, Daimler AG, Ferrari NV, JAGUAR LAND ROVER AUTOMOTIVE PLC, Stellantis NV, Tesla Inc., Toyota Motor Corp., Volkswagen AG, Volvo Car Corp. are a few of the key vendors in the luxury car market.
    Australia will register the highest growth rate of 100.00% among the other regions. Therefore, the luxury car market in Australia is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the luxury car market growth are:
    • Integration of advanced safety technologies in luxury cars to gain higher safety ratings
    The luxury car market vendors should focus on grabbing business opportunities from the ic engine-based vehicles segment as it accounted for the largest market share in the base year.
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