Hypercar Market Size, Trends, Growth 2023-2028
Hypercar Market Outlook
According to the report by Expert Market Research (EMR), the global hypercar market size is projected to grow at a CAGR of 9.5% between 2023 and 2028. Aided by the rising demand for high-performance vehicles and the increasing applications of cutting-edge technology in automotive engineering, the market is expected to grow significantly by 2028.
Hypercars, often referred to as the pinnacle of automotive engineering, are high-performance, ultra-luxury vehicles that deliver superior speed, power, and performance compared to standard production cars. They embody the leading edge of design, performance, technology, and often comprise unique, ground-breaking solutions to improve aerodynamics, power output, and efficiency.
The accelerating consumer interest in high-performance vehicles is driving the global hypercar market growth. With an increasing awareness of automotive advancements and a rising appetite for speed and luxury, there has been a significant shift towards hypercars. Additionally, the burgeoning wealth of the global elite and the growing popularity of motorsports have further spurred the popularity of hypercars.
The proliferation of cutting-edge technology in automotive engineering also plays a substantial role in fuelling the hypercar market development. Advanced materials, such as carbon fibre and ceramics, are employed extensively in hypercar construction to enhance performance and ensure lightweight construction. In addition, innovations such as hybrid and electric drivetrains, active aerodynamics, and advanced driver assistance systems (ADAS) are increasingly finding applications in hypercars, thus increasing the hypercar market demand.
Moreover, the growing emphasis on sustainable transportation has led to an increased focus on hybrid and electric hypercars. As environmental concerns heighten and regulations tighten, automotive manufacturers are exploring hybrid and fully electric powertrains for hypercars. This trend has not only enabled the hypercar market to align with the global shift towards sustainability but has also allowed for new performance possibilities, boosting the hypercar market expansion.
Furthermore, the rise of bespoke and customisation services in the hypercar segment is further pushing the hypercar market growth. Affluent customers, seeking exclusivity and a personalised touch, are increasingly opting for bespoke hypercars. Manufacturers are responding by offering a wide array of customisation options, including personalised colour schemes, monograms, and unique interior materials and finishes, thereby enhancing the allure of these ultra-luxury, high-performance vehicles.
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Hypercar Market Segmentation
The market can be divided based on engine size, powertrain, speed, chassis type, tyre type, and region.
Market Breakup by Engine Size
• Compact-Size (Below 1499 cc Engine)
• Mid-Size (1500 to 2499 cc Engine)
• Full-Size (Above 2500 cc Engine)
Market Breakup by Powertrain
• Hybrid
• Electric
• Gasoline
Market Breakup by Speed
• Low Speed (Up to 211 Mph)
• Medium Speed (Up to 221 Mph)
• High Speed (Up to 231 Mph)
Market Breakup by Chassis Type
• Carbon Fibre
• Steel
• Aluminium
Market Breakup by Tyre Type
• Run Flat
• High Speed
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global hypercar companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• Automobili Lamborghini S.p.A.
• Daimler AG.
• Koenigsegg Automotive AB
• Bugatti Automobiles S.A.S.
• Dr. Ing. hc F. Porsche AG
• Ferrari N.V.
• McLaren Racing Limited
• Others
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