The hypercarmarket size in 2023 is expected to thrive, driven by the demand forhigh-speed and fuel-efficient vehicles. Market Research Future predicts a
Compound Annual Growth Rate (CAGR) of 9.3% for the global hypercar market
during the forecast period.
Enhancements in vehicle speeds and innovations in hypercardesigns, such as a low center of gravity, aerodynamic features, and ground
clearance, are anticipated to further boost the hypercar market's growth.
Segmental Analysis: The hypercar market is segmentedbased on application, propulsion, and region.
- Propulsion: The market segments include electric vehicles, ICE vehicles, and hybrid
vehicles. - Application: Segments include entertainment, racing competitions, and others.
- Regions: The market is divided into Europe, North America, Asia Pacific, and other
key regions.
Detailed Regional Analysis:
- Europe: The European region is expected to dominate the hypercar market during the
forecast period. Factors such as significant research and development
investments in technologically advanced hypercars and the growing
preference for luxury car brands contribute to the region's favorable
market environment. Economic conditions and increasing consumer spending
are expected to further boost the hypercar market in this region. - Asia Pacific: The Asia Pacific region is likely to witness the highest growth in the hypercar market. This growth is attributed to the increasing
focus of automotive OEMs and technology leaders on testing, investing in,
and mass-producing hypercars in major countries like Japan, China, and
India.
Competitive Analysis: Government support is expectedto drive long-term market growth. However, the stabilization of consumer trends
and investments in marketing and R&D may be affected by the ongoing global
pandemic. International trade restrictions due to the pandemic are also
expected to hinder market growth. The market will be influenced by supply and
demand dynamics, with companies taking steps to protect their commercial
interests. Transforming the supply chain is crucial for positive market
progress.
Key Players: Prominent companies in the global hypercarmarket include McLaren Automotive (UK), Aston Martin Lagonda Global Holdings
plc (UK), Pagani Automobili S.p.A. (Italy), Zenvo Automotive A/S (Denmark),
Rimac Automobili (South Korea), Jaguar Land Rover Automotive PLC (US),
Koenigsegg Automotive AB (Sweden), Ferrari S.p.A. (Italy), Dr. Ing. h.c.F.
Porsche AG. (Germany), Automobili Lamborghini S.p.A. (Italy), Maserati (Italy),
BUGATTI AUTOMOBILES S.A.S. (France), and BMW AG (Germany).
Industry Updates: In July 2020, the Spyros PanopoulosProject Chaos hypercar, claimed to have 3,000 hp, was set to be launched. This
hypercar, made in Greece, uses a 4.0-liter twin-turbocharged V10 engine and
achieves rapid acceleration, going from zero to 100 km/h in an extremely short
time.
