Hypercar Market to Reach $224.5 Billion by 2031: Allied Market Research
Surge in demand for luxurious and comfortable driving experience drives the global hypercar market. The market across Europe dominated in 2021, holding more than two-fifths of the market. The Covid-19 pandemic resulted in disruption of supply chain, which caused low sales of passenger cars and temporary suspension of production of vehicles across the globe.
Portland, OR, Nov. 24, 2022 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global hypercar market generated $15.2 billion in 2021, and is expected to reach $224.5 billion by 2031, registering a CAGR of 31.1% from 2022 to 2031. The report offers a detailed study of top segments, value chains, changing market trends, competitive scenarios, key investment pockets, and regional landscape. The report is a vital source of information for investors, new entrants, leading market players, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.
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Hypercar Industry Report coverage & details:
|Market Size in 2021||$15.2 Billion|
|Market Size in 2031||$224.5 Billion|
|No. of Pages in Report||207|
|Segments Covered||Propulsion, End-Use, and Region|
|Drivers||Surge in demand for luxurious and comfortable driving experience|
|Opportunities||Production of electric hypercars|
|Restrains||High cost of hypercars|
- The Covid-19 pandemic resulted in disruption of supply chain, which caused low sales of passenger cars and temporary suspension of production of vehicles across the globe.
- The ban on social gatherings, restrictions on travel & tourism, and social distancing regulations negatively impacted the growth of the market.
The report segments the global hypercar market on the basis of propulsion, end-use, and region.
Based on propulsion, the battery electric segment is expected to portray the highest CAGR of 40.9% during the forecast period. However, the ICE segment held the largest share in 2021, contributing to nearly two-thirds of the market.
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On the basis of end-use, the racing segment is projected to manifest the highest CAGR of 33.2% during the forecast period. However, the private segment held the lion’s share in 2021, accounting for nearly three-fourths of the market.
The global hypercar market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe dominated in 2021, holding more than two-fifths of the market. However, the market across the Asia-Pacific region is projected to showcase the highest CAGR of 32.9% during the forecast period.
The global hypercar market report includes an in-depth analysis of the prime market players such as Automobili Lamborghini S.p.A., h.c. F. Porsche AG, Bentley Motors Limited, Ferrari N.V., Aston Martin Lagonda Global Holdings PLC, McLaren Group, Audi AG Aktiengesellschaft, Bayerische Motoren Werke AG, Bugatti Automobiles S.A.S., Pagani Automobili S.p.A., Lotus Cars Limited, Koenigsegg Automotive AB.
The report analyzes these key players in the global hypercar market. These players have adopted various strategies such as new product launches, expansion, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of every market player.
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