According to the Vision Research reports, the global hypercar market size is expected to hit around 1.2 million units by 2027, expanding at a CAGR of 6%, in terms of volume, during the forecast period 2020 to 2027.
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The market growth can be primarily attributed to growing focus on launching new technologies and innovative solutions, shift toward the development of full-electric and hybrid hypercars, exclusiveness, etc. Market players should focus on launching new hypercars that are sustainable, cost-efficient, and sustainable in the long run. In addition, market players should also focus on research and development to identify the potentials of new technologies to gain a competitive edge.
Increase in global warming across the globe is driving vehicle manufacturers to develop efficient vehicle technologies for their vehicles, which is anticipated to shift the trend toward electric vehicles, thus compelling automakers to produce electric hypercars.
Increase in demand for alternate fuel technology in order to reduce air pollution caused by vehicle emissions is also anticipated to propel the demand for electric vehicles during the forecast period. Therefore, demand for high performance, low emission super cars is likely to drive the global hypercar market during the forecast period.
Technological advancements in the vehicle battery technology have enabled automakers to increase the cruising range of electric vehicles. Additionally, innovative technology, in terms of electric propulsion systems, is enabling vehicles to generate enough power to compete with their conventional (IC-engine) counterparts.
Furthermore, vehicle technologies adopted in electric vehicles, including all-wheel drive and four-wheel drive further enhance vehicle ride handling, improve vehicle performance on-road as well as off-road are likely to increase the preferences toward electric vehicles. This, in turn, is anticipated to increase the trend toward electric vehicles and consequently, drive the hypercar market during the forecast period.
Europe is projected to be highly lucrative market during the forecast period. This is primarily due to the presence of prominent consumer base, technological awareness, high disposable income, and developed road infrastructure in countries in Europe such as Germany, Spain, Italy, and the U.K. Additionally, the cost of import and export of vehicles is reduced significantly, owing the presence of major players in the automotive industry in Europe. Consistent demand for hypercars from prominent automakers based in Europe is anticipated to drive the hypercar market during the forecast period.
The study has considered the base year as 2019, which estimates the market size of market and the forecast period is 2020 to 2027. The report analyzes and forecasts the market size, in terms of volume (thousand units) and value (USD million), for the market. The report provides a detailed analysis of various forces acting in the market (drivers, restraints, opportunities, and challenges). The report covers key players and comprehensively analyzes their market shares and core competencies. It also tracks and analyzes competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other activities carried out by key industry participants.
- Automobili Lamborghini S.p.A.
- Bugatti Automobilies S.A.S.
- Daimler AG
- Ferrari S.p.A.
- Hennessey Performance
- Koenigsegg Automotive AB
- Mazzanti Automobili
- McLaren Group Companies
- Pagani Automobili S.p.A.
- Ultima Sports Ltd.
- Zenvo Automotive
- Hypercar Market, by Speed
- Up to 220 mph
- Above 220 mph
- Hypercar Market, by Propulsion
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Hypercar Market, by Engine Size
- Compact (Below 1,499cc)
- Mid-size (1,500-2,499cc)
- Full-size (Above 2,500cc)
- Hypercar Market, by Region
- North America
- Latin America
- East Asia Pacific
- South Asia Pacific
- Middle East & Africa
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Hypercar market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Hypercar market. These factors have benefited the growth of the global market for Hypercar. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.