Global Luxury Electric Vehicles Market: Trends, Growth, and Forecast
The global luxury electric vehicles market size is anticipated to reach USD 726.9 billion by 2030, growing at a CAGR of 17.7% over the forecast period, as per research conducted by Grand View Research, Inc. Increasing inclination toward decarbonizing road transport, efforts to diversify battery infrastructure, and fluctuating petrol & diesel prices are driving the demand of the luxury electric vehicle in the global market. In addition, prominent automobile manufacturers’ shift towards producing 100% electric vehicle variants is further propelling the growth of the luxury electric vehicle industry. A growing number of government initiatives to invest in developing battery charging infrastructure and hydrogen vehicle refueling stations is expected to boost the sales of luxury vehicles including variants such as the battery, plug-in, and hydrogen-powered fuel cell vehicle in the global market. For instance, in 2021, the government in China incentiviz...