Market Overview:
The global race cars market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing popularity of racing events and races across the globe, coupled with the rising demand for high-performance race cars. In terms of type, the professional segment is expected to hold a larger share in the global race cars market during the forecast period. This can be attributed to factors such as increasing investment by automakers in R&D for developing high-performance vehicles and growing number of motorsport events across different geographies.
Product Definition:
Race cars are purpose-built, high-performance vehicles that are used in professional auto racing. They typically feature advanced aerodynamics and powerful engines that allow them to reach speeds of more than 200 miles per hour. Race cars are important for two reasons: first, they provide a level of competition that helps drivers and teams hone their skills; and secondly, they serve as the basis for the development of new technologies that can be used in regular production vehicles.
Professional:
Professional is a device that controls the gears of transmission and helps in shifting between them. It's major application is in race cars, where it's used to distribute power from the engine to different drive trains. Professional are crucial for any race car driver as they help improve lap times by making gear shifts effortless.
The global professional market size was valued at USD 1,849.6 million in 2016.
Amateur:
Amateur is the person who pursues a career in any field without making a profession of it. In motorsports, an amateur is someone who competes in races and events without having any intention to make money from it. The term also refers to people involved in sports and recreational activities for their own amusement or personal satisfaction rather than as part of a professional career.
Application Insights:
On the basis of application, the global race cars market is segmented into on-roading and off-roading. The on-roading segment dominated the overall market in terms of revenue share in 2017. This can be attributed to various motorsports events such as Formula One, IndyCar Series and V8 Supercars that are held annually across the globe. Furthermore, several automotive manufacturers including Ford Motor Company; Mercedes; Porsche; Nissan; Honda have their racing teams that participate in international competitions such as WEC and Le Mans Series which contributes to high demand for road cars with a racing pedigree.
The off-roading segment is expected to witness significant growth over the forecast period owing to increased popularity among consumers for adventure sports like dirt biking, 4WD rallycross etc., especially in developing regions like Asia Pacific where there has been a rise in disposable income levels along with an increase in spending capacity due to rapid urbanization & economic development over recent years.
Regional Analysis:
Asia Pacific dominated the global race cars market in 2017. The region is expected to maintain its position over the forecast period. This can be attributed to increasing participation of people in motorsports as a result of growing popularity and accessibility of various racing series. Furthermore, rising disposable income among middle-class population groups will boost regional growth further.
North America is projected to witness significant growth over the coming years owing to increased focus on motorsports by several prominent countries such as U.S., Canada, and Mexico that are home for some of world’s most popular race tracks such as Watkins Glen International (U.S.), Circuit Mont-Tremblant (Canada), and Autódromo Hermanos Rodríguez (Mexico).
Growth Factors:
- Increasing demand for high-performance cars
- Rising disposable income of the consumers
- Technological advancements in the automotive industry
- Growing popularity of racing events and championships
- Proliferation of motorsports culture
Scope Of The Report
Report Attributes
Report Details
Report Title
Race Cars Market Research Report
By Type
Professional, Amateur
By Application
On-Roading, Off-Roading
By Companies
Ferrari, Mercedes-Benz, Toyota, Volkswagen, Ford, Citroën, BMW, HONDA, Hyundai, Renault, Peugeot
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
163
Number of Tables & Figures
115
Customization Available
Yes, the report can be customized as per your need.
Global Race Cars Market Report Segments:
The global Race Cars market is segmented on the basis of:
Types
Professional, Amateur
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
On-Roading, Off-Roading
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Ferrari
- Mercedes-Benz
- Toyota
- Volkswagen
- Ford
- Citroën
- BMW
- HONDA
- Hyundai
- Renault
- Peugeot
Highlights of The Race Cars Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Professional
- Amateur
- By Application:
- On-Roading
- Off-Roading
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Race Cars Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Race cars are vehicles that are designed to race on a track.
Some of the major players in the race cars market are Ferrari, Mercedes-Benz, Toyota, Volkswagen, Ford, Citro«n, BMW, HONDA, Hyundai, Renault, Peugeot.
The race cars market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Race Cars Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Race Cars Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Race Cars Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Race Cars Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Race Cars Market Size & Forecast, 2020-2028
4.5.1 Race Cars Market Size and Y-o-Y Growth
4.5.2 Race Cars Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Professional
5.2.2 Amateur
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 On-Roading
6.2.2 Off-Roading
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Race Cars Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Race Cars Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Professional
9.6.2 Amateur
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 On-Roading
9.10.2 Off-Roading
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Professional
10.6.2 Amateur
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 On-Roading
10.10.2 Off-Roading
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Professional
11.6.2 Amateur
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 On-Roading
11.10.2 Off-Roading
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Professional
12.6.2 Amateur
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 On-Roading
12.10.2 Off-Roading
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Professional
13.6.2 Amateur
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 On-Roading
13.10.2 Off-Roading
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Race Cars Market: Competitive Dashboard
14.2 Global Race Cars Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Ferrari
14.3.2 Mercedes-Benz
14.3.3 Toyota
14.3.4 Volkswagen
14.3.5 Ford
14.3.6 Citroën
14.3.7 BMW
14.3.8 HONDA
14.3.9 Hyundai
14.3.10 Renault
14.3.11 Peugeot
