Luxury Van Market
                     Luxury Van Market to Analysis by Current Status & Target Audience and Forecast to 2026 
Market Overview 
Luxury vans are automobiles larger than SUVs and relatively smaller than buses or trucks. They are 
mostly used for passenger transport for business or leisure applications. Depending on the custom-
made or high-end designs, these vehicles can accommodate a group of 12 to 15 people. These are 
featured with additional comfort, safety, space, technology, and design in relation to conventional RVs. 
End users of these vehicles include the individuals and fleet owners, who utilize the vehicle for both, 
business and recreational activities such as camping and tourism. 
According to the World Bank Group, global GDP per capita has increased from US$ 9509.366 in 2010 to 
US$ 10,150.788 in 2016, prominently driven by the major economies that include the U.S., China, India, 
and Korea among few major other economies. This has led to significant increase in the gross national 
income, living standards, affordability and the expenditure on luxury vehicles by consumers across these 
major economies. Moreover, integration of advanced functions that include security technologies, 
electronic stability control, anti-lock brakes, TV entertainment system, remote start, massaging and 
heated seats have led to increased end user inclinations. Better performance and handling in relation to 
their conventional counterparts, is expected to provide higher traction to the luxury van market 
throughout the forecast period. 
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Market Dynamics 
Significant achievements have been witnessed across the industry with R&D regarding the autonomous 
driving future. Several leading manufacturers that include Volkswagen, Daimler, and General Motors 
among many other automotive industry participants are increasingly investing in the development of 
the state of the art technologies for applications in autonomous vehicles. For instance, in 2016, 
Volkswagen debuted its MicroBus, an electric powered autonomous luxury van concept, which was the 
upgraded version of the classic Volkswagen model and is expected to be in production from 2022. 
According to Coherent Market Insights analysis of AV and its future, the development is still in its 
nascent stage, and is expected to take at least two decades to become mainstream. However, 
associated development of vehicle to everything (V2X) communication is estimated to garner increasing 
adoptions during the forecast period. 
Increasing number of business tours owing to vast expanse of multinational firms, the corporate 
employee transportation requirements, entertainment & media industry, and political VIPs are expected 
to be the major factors driving the vehicle demands by  fleet providers. Individual owners accounted for 
the significantly small percentage of overall industry share. 
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Increasing international travel & tourism industry in Asia Pacific, presence of large number of 
electronic and IT industry participants, growing manufacturing activities are among the major factors 
that will contribute to the industry growth. China, India, Indonesia, Thailand, Taiwan, and Malaysia 
are among few of the major economies that are expected to garner high traction over the near future. 
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