The Business Research Company’s Hypercar Global Market Report 2021 – COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, August 31, 2021 /EINPresswire.com/ — The global hypercar market size is expected to grow from $13.23 billion in 2020 to $18.34 billion in 2021 at a compound annual growth rate (CAGR) of 38.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The hypercar market is expected to reach $71.05 billion in 2025 at a CAGR of 40.3%.
The increasing sales of luxury cars are expected to propel the growth of the hypercar market in the coming years. Luxury brands have a greater perceived worth than other corporations, therefore businesses are aiming to improve their luxury vehicle sales during auto shows. A hypercar is one of the most advanced and high-performance luxury cars on the market recently. According to the limelight report in 2019, in the USA, the luxury car market accounts for 6% of total vehicle sales. Mercedes-Benz topped the sales statistics in May 2021, selling a total of 198 luxury cars. Therefore, this increasing demand for luxury cars drive the growth of the hypercar market.
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Major players in the hypercar industry are Automobiles Ettore Bugatti, Automobili Lamborghini S.p.A., Daimler AG, Ferrari S.p.A., Zenvo Automotive, Koenigsegg Automotive AB, Maserati S.p.A., McLaren Group Ltd., Pagani Automobili S.p.A., Porsche AG, Volkswagen AG, Aston Martin Lagonda Ltd., Mazzanti Automobili, Mercedes-AMG GmbH, Toyota Motor Corporation, and Ultima Sports Ltd.
Europe accounted for the largest hypercar market share in 2020. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of powertrains in hypercar are hybrid, electric, and gasoline. The electric powertrain system in a hypercar is a combination of an internal combustion engine with electrical components such as electric motor and power electronics. The different technologies include four-wheel drive, four-wheel steering, active airbrakes, brake steering. The various types of chassis involve are carbon fiber, steel, aluminum and are used in clubs, private, and others.
Hypercar Global Market Report 2021 – By Powertrain (Hybrid, Electric, Gasoline), By Technology (Four-Wheel Drive, Four-Wheel Steering, Active Airbrakes, Brake Steering), By ChassisType (Carbon Fiber, Steel, Aluminum), By Application (Club, Private), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides hypercar market overview, forecast hypercar market size and growth for the whole market, hypercar market segments, and geographies, hypercar market trends, hypercar market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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