The Luxury Electric Vehicles Global Market Report 2023, provides comprehensive information on the luxury electric vehicles market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global luxury electric vehicles market is expected to grow from $149.13 billion in 2022 to $178 billion in 2023 at a compound annual growth rate (CAGR) of 19.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global luxury electric vehicles is expected to reach $345.51 billion in 2027 at a CAGR of 18%.
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Product innovation is the key trend gaining popularity in the luxury electric vehicle market. Major companies operating in the luxury electric vehicle market are focused on developing innovative products to strengthen their position in the market. For instance, in June 2023, AB Volvo, a Sweden-based manufacturer of luxury cars, trucks, buses, and construction equipment, launched t EX30 fully electric small SUV. It has the twin motor performance option, which combines the NMC battery with a second e-motor. This EX30 all-wheel drive model produces 315kW (428hp), accelerating from 0 to 100 km/h in 3.6 seconds. It includes an updated version of the Volvo Park Pilot Assist tool. It can manage all parking spots, including parallel, curved, perpendicular, and diagonal fishbone-style spaces.
The luxury electric vehicles market is segmented:
1) By Type: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicles (PHEVs), Fuel Cell Electric Vehicles (FCEVs), Hybrid
2) By Battery Type: Lead-Acid, Lithium-Ion
3) By Range: High-End Luxury, Mid-Range Luxury
4) By Vehicle Type: Cars, Buses, Vans, Trucks
5) By Application: Personal, Government
Asia-Pacific was the largest region in the luxury electric vehicles market in 2022.
The table of contents in TBRC’s luxury electric vehicles market report includes:
1. Executive Summary
2. Luxury Electric Vehicles Market Characteristics
3. Luxury Electric Vehicles Market Trends And Strategies
4. Luxury Electric Vehicles Market – Macro Economic Scenario
5. Global Luxury Electric Vehicles Historic Market Size and Growth, 2017 – 2022, Value ($ Billion)
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32. Global Luxury Electric Vehicles Market Competitive Benchmarking
33. Global Luxury Electric Vehicles Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Luxury Electric Vehicles Market
35. Luxury Electric Vehicles Market Future Outlook and Potential Analysis
36. Appendix
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