About Luxury Car Coachbuilding
A luxury car is a vehicle, which provides features that are pleasant and desirable beyond those that are strictly necessary. It offers high-quality equipment and components, superior performance, precise construction, high level of design and comfort and features that give the car a distinct image, brand, status, prestige or any other similar characteristic or a combination of them. A coachbuilder in the automotive industry is the manufacturer of a vehicle body. The body of the vehicle including its interior is known as coachwork. This term is usually used for vehicles, which are built on separate chassis (body on frame construction) rather than vehicles, which are unibody or comprise a monocoque chassis.
Technavio’s analysts forecast the global luxury car coachbuilding market to grow at a CAGR of 7.41% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global luxury car coachbuilding market for 2017-2021. To calculate the market size, the report considers the sales value of the luxury cars, which are coach-built across the world.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Luxury Car Coachbuilding Market 2017-2021
Technavio recognizes the following companies as the key players in the global luxury car coachbuilding market: Carrozzeria Touring Superleggera, Italdesign Giugiaro, Pininfarina, and Zagato Milano.
Other Prominent Vendors in the market are: Carrosserie Akkermans, Motorima, Moal Coachbuilders, Carrozerria Castagna, Fioravanti, Carlsson Fahrzeugtechnik GmbH, Ken Okuyama Cars, TRASCO Bremen GmbH, N2A Motors, and Mitsuoka Motors.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Move toward hi-tech and elegant environment-friendly cars. There has been a gap in the market for hi-tech as well as elegant environment-friendly coach-built cars, which needs to be filled. The design firms are forming tie-ups with certain technology firms that are pioneers in battery technology and hybrid engine systems. This is giving rise to an upcoming trend of building environment-friendly coach-built cars.”
According to the report, one of the major drivers for this market is Traditional coachbuilders benefitted from foreign direct investments. The coachbuilding industry is thriving along with the rapidly progressing automotive industry. Italy has been a leading country in terms of the number of coachbuilding companies, with the likes of Pininfarina, Zagato, Bertone, Touring Superleggera, and various other well-known luxury car coachbuilders across the globe. The coachbuilding industry took a massive hit during the recent global recession due to which storied marques, such as Bertone disappeared under the crushing pressure of debt and an automotive industry that was becoming more self-sufficient. But the coachbuilding industry today, almost a decade after the global recession, is making a considerable comeback.
Further, the report states that one of the major factors hindering the growth of this market is Shrinking profitability in coachbuilding. The coachbuilding industry is faced with certain challenges when it comes to profitability and the scale of operations. The markets for the coachbuilders are shrinking, and hence, their market volumes are on the downside too. Due to this, despite designing limited-edition, hand-built, custom, and one-off's cars, specially catered to ultra-rich customers, the profit margins for the coachbuilders have been decreasing, to less than 1% of the revenue.
Carrozzeria Touring Superleggera, Italdesign Giugiaro, Pininfarina, Zagato Milano, Carrosserie Akkermans, Motorima, Moal Coachbuilders, Carrozerria Castagna, Fioravanti, Carlsson Fahrzeugtechnik GmbH, Ken Okuyama Cars, TRASCO Bremen GmbH, N2A Motors, and Mitsuoka Motors.