Global Hypercar Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028
Global Hypercar Market: Overview
“The global Hypercar Market market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Hypercar refers to extremely efficient and ultra-modern cars which offer clean, safe and economical high performance. Hypercar is manufactured and designed with a combination of aerodynamic design, ultra-lightweight, low drag, and others.
Hypercar provides fuel efficiency and high speed with the help of various techniques to minimize mass which results in improving vehicle speeds and saving overall mass.
In addition, hypercar offers high efficiency without reducing conventional characteristics of vehicles including durability, performance, comfort, safety, and affordability. The hypercar is associated with technology including four-wheel steering, four-wheel drive, active airbrakes, and break steering.
Global Hypercar Market: Dynamics
Growing demand for hypercar coupled with the increasing popularity of hypercar among automobile-loving consumers is the factor projected to fuel the growth of the target market over the forecast period.
In addition, expanding the automotive industry across the globe and the rising integration of performance-boosting technologies in hypercar result in increasing demand for hypercar. These are other factors expected to proliferate the growth of the global hypercar market.
Growing awareness among consumers about several features of hypercar including short braking distance, agile handling, energy absorption technology, precision avoidance maneuvers, crash handling technology, and others, and increasing demand for high-performance cars especially in developed countries.
These are some other factors expected to support the growth of the target market over the forecast period.
Furthermore, increasing production of sports utility vehicles by major manufacturers and they are highly focused on research and development of new technologies coupled with increasing vehicle production of gas-powered or fully-electric hypercar. These are among other factors expected to propel the growth of the global hypercar market in the near future.
However, the high cost associated with hypercar is a key factor that can hamper the growth of the target market.
Global Hypercar Market: Segment Analysis
Increasing adoption of carbon fiber car chassis among manufacturers for production of hypercar and growing popularity of cars with completely carbon-fiber bodies across the globe. Revenue from the carbon fiber segment is segment is expected to account for a comparatively higher share in the global hypercar market than other materials in the chassis segment.
Among the application segments, the racing competition segment is expected to register the highest growth in the target market, owing to the high adoption of hypercar among car racing players. In addition, increasing sports car racing participants across the globe and rising racing competition are some factors that support the growth of this segment.
Global Hypercar Market: Region Analysis
The North American hypercar market accounted for the highest revenue share followed by the market in Europe. High presence of hypercar manufacturers in countries such as Canada, the US, Germany, Italy, France, and the UK in these regions.
Market in the Asia Pacific is expected to register significant growth in the global market, owing to high consumer spending on luxury vehicles and increasing penetration of top brands hypercar in countries such as India and China in the region. The market in Middle East & Africa is projected to register moderate growth in terms of revenue followed by the market in Latin America.
Global Hypercar Market Segmentation:
Segmentation by Material of Chassis:
- Carbon Fiber
Segmentation by Technology:
- Four-wheel Drive
- Four-wheel Steering
- Active Airbrakes
- Break Steering
Segmentation by Application:
- Racing Competition
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Lexus, a Division of Toyota Motor Sales, U.S.A., Inc.
- McLaren Automotive Limited
- Automobili Lamborghini S.p.A.
- Bugatti Automobiles S.A.S.
- Pagani Automobili S.p.A.
- Maserati S.p.A.
- Daimler AG
- Ferrari N.V.
- Porsche Automobil Holding SE
- Zenvo Automotive
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