Growing Concerns around Global Warming Are Set to Drive Hypercar Market Forward: TMR
- Hypercar market players who are eyeing a higher market share have a keen focus on innovation and technological advancement
- Growth rate of hypercar market will be around 6%, compounded annually over the forecast period of 2020 to 2030. Increasing demand for electric vehicles is set to be a notable growth factor
Oct 21, 2020, 12:30 ET
ALBANY, N.Y., Oct. 21, 2020 /PRNewswire/ -- The global hypercar market is set on an upward growth trajectory. The market is anticipated to record a rate of growth of about 6% from 2020 to 2030. It will help the market reach 1.4 million units by the end of this forecast period. A host of growth factors are being noted in the market landscape. These are helping the market grow.
As per Transparency Market Research, "Global warming is one of the most prominent factors of growth in the global hypercar market. As awareness increases, governments take steps to mitigate impact, bring down their carbon footprint. This is paving way for higher demand of vehicles that are powered by electricity. It does not come as a surprise therefore that technology holds a key place in growth strategies of players operating in the vendor landscape of this market."
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Key Findings of Global Hypercar Market Study:
- On the basis of propulsion, segment for IC-engine has held a sizeable share of the global hypercar market in the past
- Over the forecast period, the electric propulsion market is expected to eat into a part of this share owing to increasing adoption of electric vehicles
- The segment for 220 mph speed has dominated the market in the past owing to high vehicle efficiency
For a detailed analysis of global hypercar market by speed, propulsion, engine size and region, visit at https://www.transparencymarketresearch.com/hypercar-market.html
Key Drivers of Growth in Global Hypercar Market:
- Increasing disposable income is a critical factor of growth in the hypercar market over the forecast period
- Global warming is spurring governments to take appropriate actions to mitigate impact and reduce carbon footprint
- High performance vehicle are witnessing a significant increase in demand, adding to growth in the market
- Innovation is set to be a key growth determiner for players and that makes technological advancement a prominent contributor to market growth
- Increasing investment are paving for future growth of the market, fuelling advancement in machinery and technology
Regional Analysis of Global Hypercar Market:
- As per Transparency Market Research, Europe will be a very attractive regional market over the forecast period of 2020 to 2030
- It will grow owing to high environmental consciousness, disposable income and technological awareness, and presence of a prominent consumer base
- In countries such as Italy, Germany, the United Kingdom, and Spain, robust road infrastructure is enabling growth in a major way
Analyze global hypercar market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Competitive Landscape of Global Hypercar Market:
Most significant players, who have successfully made a mark on the global hypercar market are Automobili Lamborghini S.p.A., Bugatti Automobilies S.A.S., Daimler AG, Ferrari S.p.A., Hennessey Performance, Koenigsegg Automotive AB, Maserati, Mazzanti Automobili, McLaren Group Companies, Pagani Automobili S.p.A., Porsche, Rimac, Ultima Sports Ltd., Zenvo Automotive, among others. These have been extensively covered in Transparency Market Research's report. It also carries other crucial information that can helps market players make better, more profitable decisions.
Noteworthy here is that the players are trying to increase their footprint, geographically. That is being achieved via a slew of organic and inorganic measures. Focus on technological improvement to bring forth innovation is sharp too.
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Global Hypercar Market: Segmentation
- Hypercar Market, by Speed
- Up to 220 mph
- Above 220 mph
- Hypercar Market, by Propulsion
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Hypercar Market, by Engine Size
- Compact (Below 1,499cc)
- Mid-size (1,500-2,499cc)
- Full-size (Above 2,500cc)
- Hypercar Market, by Region
- North America
- Latin America
- East Asia Pacific
- South Asia Pacific
- Middle East & Africa
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