Electric Powertrains are Fastest Growing Segment Fueling the Growth of the Global Hypercar Market

 

The global Hypercar Market is estimated to be valued at US$ 49.7 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Hypercars are tailored for extreme performance and superior driving dynamics. They utilize lightweight yet durable materials, powerful engines and sophisticated transmissions to achieve unparalleled power-to-weight ratios and acceleration. Most hypercars are limited production and handcrafted, with an emphasis on luxury and exclusivity.

Market key trends:
The adoption of electric and hybrid powertrains is growing in the hypercar market due to stringent emission norms. Hybrid systems provide an optimal balance of performance and efficiency. For example, the Pininfarina Battista features a 120 kWh battery powering four electric motors producing a combined 1,900 horsepower. Hybrid and electric hypercars allow manufacturers to cut production costs while meeting environmental targets. Furthermore, advancements in battery technology are improving driving ranges, lowering costs and reducing charging times of electric hypercars.

Segment Analysis
The global hypercar market is segmented by vehicle type, propulsion type, component type, and geography. Based on vehicle type, the hypercar market is sub-segmented into mid-engine, rear-engine, and front-engine vehicles. Among these, mid-engine vehicles dominate the market as they provide improved handling and balance. Based on propulsion type, the market is bifurcated into electric and gasoline-powered hypercars. Gasoline-powered hypercars currently hold major share as they have well-established technology and infrastructure. Based on component type, the market is classified into engine, transmission, brakes & braking systems, fuel systems, electronic control units, and others. Among these, the engine component segment accounts for highest share as engines are the core component of a hypercar providing high performance.

Key Takeaways
The Global Hypercar Market Size is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing demand for high-performance luxury sports cars.

Regional analysis- North America currently dominates the hypercar market, holding around 35% share. Growing interest in exotic sports cars is driving growth in the region. Europe is the second largest market for hypercars fueled by presence of major manufacturers such as Ferrari and Lamborghini in Italy. Asia Pacific is expected to be the fastest growing market led by rising success of wealthy individuals in China and new entrants from the region.

Key players- Key players operating in the hypercar market are Audi AG Aktiengesellschaft, Lotus Cars Limited, Aston Martin Lagonda Global Holdings PLC, Koenigsegg Automotive AB, Bentley Motors Limited, Automobili Lamborghini S.p.A., McLaren Group, Bayerische Motoren Werke AG, h.c. F. Porsche AG, Pagani Automobili S.p.A., Ferrari N.V., and Bugatti Automobiles S.A.S. These companies are focusing on developing technologically advanced and high-performance luxury vehicles to strengthen their market position.

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