Global Hypercar Market Report 2022: New Product Launches, Cybersecurity Systems, & Increased Focus on Electric Hypercars Presents Lucrative Opportunities
DUBLIN, Aug. 26, 2022 /PRNewswire/ -- The "Hypercar Global Market Opportunities And Strategies To 2031" report has been added to ResearchAndMarkets.com's offering.
The global hypercar market reached a value of nearly $10,632.8 million in 2021, having increased at a compound annual growth rate (CAGR) of 18.9% since 2016. The market is expected to grow to $44,172.1 million in 2026 at a rate of 33.0%. The market is then expected to grow at a CAGR of 23.3% from 2026 and reach $125,795.6 million in 2031.
Growth in the historic period resulted from increasing mergers and acquisitions, implementation of IOT technologies, a rise in disposable income and increased consumer demand for enhanced user comfort, safety, and convenience. Factors that negatively affected growth in the historic period were high costs of design and development, lack of product innovation fluctuating metal prices and the coronavirus pandemic.
Going forward, increasing adoption of electric or hybrid hypercars, increasing sales of luxury cars, development of the automobile industry and advancements in 5G technology will drive market growth. Factors that could hinder the growth of the hypercar market in the future include lack of charging/swapping infrastructure, distinct regulations by government bodies and high costs involved in training service technicians.
The hypercar market is segmented by powertrain into hybrid, electric and gasoline. The gasoline market was the largest segment of the hypercar market by powertrain, accounting for 93.0% of the total market in 2021. The electric market is expected to be the fastest-growing segment in hypercar market powertrain, going forward at a CAGR of 57.7% during 2021-2026 period.
The hypercar market is segmented by technology into four-wheel drive, four-wheel steering, active airbrakes, brake steering. The four-wheel drive market was the largest segment of the hypercar market by technology accounting for 42.2% of the total market in 2021. The brake steering market is expected to be the fastest-growing segment in hypercar market by technology, going forward at a CAGR of 35.9% during 2021-2026 period.
The hypercar market is segmented by chassis type into carbon fiber, steel, aluminum. The carbon fiber was the largest segment of the hypercar market by chassis type, accounting for 53.2% of the total market in 2021. The aluminum segment is expected to be the fastest-growing segment in hypercar market segmented by chassis type, going forward at a CAGR of 35.0% during 2021-2026 period.
The hypercar market is segmented by application into club, private, and other applications. The private was the largest segment of the hypercar market by application, accounting for 66.9% of the total market in 2021. The other applications segment is expected to be the fastest-growing segment in hypercar market segmented by application, going forward at a CAGR of 34.7% during 2021-2026 period.
Asia-Pacific was the largest region in the hypercar market, accounting for 44.7% of the global market in 2021. It was followed by Western Europe, North America and the other regions. Going forward, the fastest growing regions in the hypercar market will be Asia-Pacific and the Western Europe, where growth will be at CAGRs of 35.1% and 33.6% respectively from 2021-2026.
The global hypercar market is moderately fragmented, with a large number of regional players operating in the market. The top ten competitors in the market made up to 76.54% of the total market in 2021. Major players in the market include Dr. Ing. hc F. Porsche AG, Daimler Group, Ferrari N.V., Maserati S.p.A, Automobili Lamborghini S.p.A, Lexus, McLaren Racing Limited, Pagani Automobili, Zenvo Automotive A/S and Bugatti Automobiles S.A.S.
The top opportunities in the hypercar market segmented by powertrain will arise in the gasoline segment, which will gain $28,226.7 billion of global annual sales by 2026. The top opportunities in the hypercar market segmented by technology will arise in the four-wheel drive segment, which will gain $12,816.4 billion of global annual sales by 2026.
The top opportunities in the hypercar market segmented by chassis type will arise in the carbon fiber segment, which will gain $16,7711.9 billion of global annual sales by 2026. The top opportunities in the hypercar market segmented by application will arise in the private segment, which will gain $21,701.0 billion of global annual sales by 2026. The hypercar market will gain the most in at $8,859.2 billion.
Market-trend-based strategies for the hypercar market include strategic collaborations and partnerships, focus on new product launches, focus on new technology developments and an increase in installation of cybersecurity systems.
Player-adopted strategies in the hypercar market include focus on strengthening business operations through strategic acquisitions, innovative product launches to gain a competitive advantage in the hypercar market and focus on expanding product portfolio through new product launches.
To take advantage of the opportunities, hypercar companies should focus on new product launches, install cybersecurity systems, increase focus on electric hypercars, continue to focus on developed markets, expand in emerging markets, provide competitively priced offerings, continue to participate in trade shows and events and target high-net-worth populations.
Key Mergers And Acquisitions in Hypercar Market
- Polestar Acquired Gores Guggenheim
- Rimac Acquired Bugatti
- Mercedes-Benz Acquired YASA
- Porsche Boosts Its Stake in Rimac
- WE Solutions Limited Acquired Apollo IE
- Hyundai Motor Group Acquired General Motors' St.
Key Topics Covered:
1. Hypercar Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction and Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Market Segmentation By Powertrain
6.3.1. Hybrid
6.3.2. Electric
6.3.3. Gasoline
6.4. Market Segmentation By Technology
6.4.1. Four-Wheel Drive
6.4.2. Four-Wheel Steering
6.4.3. Active Airbrakes
6.4.4. Brake Steering
6.5. Market Segmentation By Chassis Type
6.5.1. Carbon Fiber
6.5.2. Steel
6.5.3. Aluminum
6.6. Market Segmentation By Application
6.6.1. Club
6.6.2. Private
6.6.3. Other Applications
7. Major Market Trends
7.1.1. Strategic Collaborations and Partnerships
7.1.2. New Product Launches
7.1.3. Technological Developments
7.1.4. Installation Of Cybersecurity Systems
8. Global Market Size And Growth
8.1. Market Size
8.2. Historic Market Growth, 2016 - 2021, Value ($ Billion)
8.3. Historic Drivers and Restraints
8.3.1. Market Drivers 2016 - 2021
8.3.2. Restraints On The Market 2016 - 2021
8.4. Forecast Market Growth, 2021 - 2026, 2031F Value ($ Billion)
8.5. Forecast Drivers and Restraints
8.5.1. Market Drivers 2021 - 2026
8.5.2. Restraints On The Market 2021 - 2026
For more information about this report visit https://www.researchandmarkets.com/r/idjvbs
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SOURCE Research and Markets
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