Latest News- Hypercar Market: Gasoline is expected to lead the Powertrain Type segment during 2024-2028
The Hypercar Market is being driven by Increase in racing events
The Hypercar Market is expected to grow at a CAGR of 41.11% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 122383.1 million. The hypercar market is witnessing significant growth due to the introduction of new high-performance vehicles, with Ferrari's launch of the 296 GTS convertible hybrid supercar in April 2022 being a notable example. This development is driven by advancements in powertrain technology, escalating motorsports interest, increasing sponsorships for racing events, growing viewership, and the burgeoning popularity of high-performance vehicles, such as supercars and hypercars. Additionally, Maserati S.p.A.'s announcement to develop and launch an MC20 mild-hybrid Supercar in India, along with its plans to reveal an entire range of EVs, further bolsters market expansion. The availability of new, advanced hypercars will boost their adoption globally, contributing to market growth throughout the forecast period.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Powertrain Type (Gasoline, Hybrid/Electric) Application (Private, Racing) Geography (North America, APAC, Europe, Middle East and Africa, South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Hypercar Market Research Report
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The Hypercar Market is thriving with the production of high-performance, luxurious vehicles. These vehicles offer a secure and comfortable ride, powered by powerful engines for high efficiency and sustainability. Supercars with low drag bodies and ultra-lightweight components lead the way in horsepower, limited production, and ICE-based technology. Advanced materials, satellite radio, intelligent remote entry, and adaptive cruise control are just a few of the latest technologies enhancing the driving experience. These vehicles, while environmentally friendly, deliver impressive power output, acceleration, and torque. The rising automotive industry continues to push boundaries in creating sustainable, high-performance hypercars.
The Hypercar market, a niche segment within the larger global automobile manufacturers market, caters to the demand for high-performance, luxurious, and sustainable vehicles. This market is dominated by leading automakers, producing vehicles characterized by powerful engines, advanced safety systems, and high levels of comfort. Factors driving market growth include the integration of advanced features such as autonomous capabilities, emission standardization, and electronic fuel control for enhanced efficiency. Consumers are increasingly drawn to these vehicles due to their combination of performance, security, and environmental friendliness. Technavio projects that the global automobile manufacturers market, which encompasses manufacturers of passenger cars, commercial vehicles, and all-terrain vehicles, will experience significant growth due to the incorporation of innovative technologies and the desire for customized, high-performance vehicles.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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