Apple has once again claimed the top spot on the list of the world’s 100 most valuable brands, reaching US$118 billion in brand value, up 21 percent year-on-year. Apple is closely followed by Google and Coca-Cola.

Companies from the United States showed their strong brand management and marketing power by claiming a majority of the spots on the top 10 list.

Technology companies are also well-represented, with four spots on the top 10 list. Motor vehicle companies also performed well with 11 companies on the top 100 list and four in the top 20, including Toyota (8), Mercedes-Benz (10), BMW (11) and Honda (20).

Huawei, a top Chinese telecommunication company, is ranked No. 94 with US$4.313 billion in brand value. It is the first Chinese company to make it into the rankings.

The brand value rankings were released by Interbrand consultancy and were based on three main criteria: financial performance of branded products, how the brand influences customer choice, and whether the brand name alone can push up the price of a product.

Let's take a look at the top 10 most valuable brands in the world:

  Mercedes-Benz

Industry:Automotive

Brand value:US $34.338 billion

Year-on-year increase:8 percent