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Hypercar Global Market Report 2021: COVID-19 Growth And Change

ReportLinker
·4-min read

Major players in the hypercar market 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.

New York, Sept. 29, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hypercar Global Market Report 2021: COVID-19 Growth And Change" - https://www.reportlinker.com/p06152582/?utm_source=GNW
, 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.

The global hypercar market 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 market is expected to reach $71.05 billion in 2025 at a CAGR of 40.3%.

The hypercar market consists of sales of hypercars by entities (organizations, sole traders, and partnerships) that manufacture hypercars.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.

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.

Europe was the largest region in the hypercar market in 2020.Asia Pacific is expected to be the fastest 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 launch of advanced cars is a key trend gaining popularity in the hypercar market.Major companies operating in the hypercar sector are focused on developing advanced hypercars to strengthen their position.

For instance, in March 2020, Koenigsegg Automotive AB, a Sweden-based manufacturer of high-performance sports cars launched a hypercar Koenigsegg Gemera. It is the world’s first four-seater hypercar, with a carbon fiber chassis powered by three electric motors with a total output of 1677 horsepower and a turbocharged 2.0-liter inline-three engine with 592 horsepower. It employs Freevalve technology, which activates intake and exhaust valves via solenoids. This combined with cylinder deactivation reduces fuel consumption, claiming that the three-cylinder is 20% more fuel-efficient than a typical 2.0-liter four-cylinder.

In March 2021, Porsche AG, a German automobile manufacturer has acquired an additional 8.5% stake in Rimac Automobili for the amount of $83.3 million. Before this, Porsche AG already owned a 15.5% stake in Rimac Automobili. The deal would enhance Porsche AG with highly innovative series components including batteries and EV parts. Rimac Automobili, a Croatia-based electric hypercar manufacturer and EV component supplier for the automotive industry.

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, the increasing sales of luxury cars drive the growth of the hypercar market.

The countries covered in the hypercar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Read the full report: https://www.reportlinker.com/p06152582/?utm_source=GNW

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