Global Hypercar Market Size 2024, Forecast To 2033
11 Mar, 2024
The hypercar market has experienced exponential growth, surging from $19.16 billion in 2023 to $25.6 billion in 2024, with a remarkable compound annual growth rate (CAGR) of 33.6%. This growth in the historic period is primarily attributed to increasing mergers and acquisitions, the implementation of IoT technologies, a rise in disposable income, and heightened consumer demand for enhanced user comfort, safety, and convenience. Looking ahead, the hypercar market is poised for exponential growth, projected to reach $69.05 billion in 2028 at a compound annual growth rate (CAGR) of 28.2%. This growth in the forecast period is driven by the increasing adoption of electric or hybrid hypercars, rising sales of luxury cars, the development of the automobile industry, and advancements in 5G technology. Major trends in the forecast period include strategic collaborations and partnerships, focus on new product launches, emphasis on new technology developments, and an increase in the installation of cybersecurity systems.
Global Hypercar Market Key Driver
The hypercar market is poised for growth as the sales of luxury cars continue to rise. Luxury brands hold a higher perceived value, driving businesses to focus on enhancing their luxury vehicle sales, particularly during auto shows. Hypercars, representing the pinnacle of advanced and high-performance luxury cars, are gaining prominence in the market. In the U.S., luxury car brands delivered 2.2 million vehicles, constituting 14.7% of total U.S. light-vehicle sales. The luxury car industry in the U.S. witnessed a substantial 13% growth compared to 2021, outpacing the overall industry's growth of 3.3% from the previous year. Thus, the escalating sales of luxury cars contribute significantly to the growth of the hypercar market, with market sizes in 2023, 2024, and 2028 crucial for monitoring its trajectory.
Get A Free Sample Of The Global Hypercar Market ReportGlobal Hypercar Market Segments
The hypercar market covered in this report is segmented –
1) By Powertrain: Hybrid, Electric, Gasoline
2) By Technology: Four-Wheel Drive, Four-Wheel Steering, Active Airbrakes, Brake Steering
3) By Chassis Type: Carbon Fiber, Steel, Aluminum
4) By Application: Club, Private, Other Applications
By Geography:The regions covered in the hypercar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Europe was the largest region in the hypercar market in 2023. Asia-Pacific is expected to be the fastest region in the forecast period. The regions covered in the hypercar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Hypercar Industry Players
Dr. Ing. hc F. Porsche AG, Daimler Group, Ferrari N.V., Maserati S.p.A, Automobili Lamborghini S.p.A, Lexus, McLaren Racing Limited, Bugatti Automobiles S.A.S., Zenvo Automotive A/S, Vazirani Shul, DC Avanti, Motormind Hyperion, Tata RaceMo., Apollo Intensa Emozion, Schneider Transport SA, Gefco, LDI Dimotrans Group, Xpo Transport Solutions Spain SL, Primafrio SL, Trans Sese SL Deutsche Post AG, Schenker Aktiengesellschaft, Dachser Group SE & Co, HAVI Logistics GmbH, Arrinera, ElectroMobility, Izera, Hydrocar, Leopard Automobile, Melex AvtoVAZ, Lada, GAZ, KAMAZ, NAMI, Aurus Motors, UAZ, Hennessey Performance Engineering (HPE), Koenigsegg, Dodge, American supercar brands, Draco Motors, Chevrolet Corvette, SSC North America
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Hypercar Market Overview
A hypercar is an ultra-modern, high-efficiency, and high-performance vehicle. Hypercar features an ultralight and ultra-aerodynamic design, as well as a hybrid-electric propulsion system that provides extremely high fuel efficiency and minimal emissions.
Hypercar Global Market Report 2023 provides data on the global hypercar market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The hypercar market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.