The Hyper Cars market is expected to grow at a CAGR of 10% to reach USD 90 billion in 2027.
Hyper cars emphasize on integrated designs and can lessen the propulsive power by a significant percentage. Growing trend of deployment of hydrogen-fuel cells has enabled a high transition in creating a sustainable economy. Technically, a hyper car reduces fuel emission and retain a cost-effective edge in the global market owing to its design flexibility and safety. Besides, it helps in offering exclusivity, unique appearances and design, high price points, and extremely high quality standards in terms of passenger, driver, and road safety.
The global Hyper cars market size is predicted to reach over USD 120.9 billion by 2028. This can be ascribed to the rapid surge in production of fuel-efficient, clean, and safe electric/hybrid vehicles. Besides, the growing propensity towards high-performance vehicles with advanced safety and comfort features is also the key factor driving the market growth for Hyper cars.
.png "Global Hyper Cars Market 2019-2028 (USD Billion)")
However, non-uniformity in demand for hyper cars in the mainstream segment, and non-availability of funding is expected to hamper the market growth. Furthermore, focus of automotive industry on ultra-light vehicle building is likely to provide lucrative development opportunities for the hyper cars market in the forthcoming years.
Hyper Cars Market Scope
| Metrics | Details |
| Base Year | 2020 |
| Historic Data | 2018-2019 |
| Forecast Period | 2021-2027 |
| Study Period | 2018-2027 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2027 | USD 90 billion |
| Growth Rate | CAGR of 10% during 2021-2027 |
| Segment Covered | Based on propulsion, Based on application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Rimac Automobili,Automobili Lamborghini S.p.A,Koenigsegg Automotive AB,Jaguar Land Rover Automotive PLC,BMW AG,Zenvo Automotive A/S |
Key Segments of the Global Hyper Cars Market
Material Overview, 2019-2028 (USD Million)
- Aluminum
- Steel
- Carbon Fiber
Technology Overview, 2019-2028 (USD Million)
- Four Wheel Driving
- Brake Steering
- Active Airbrakes
Tyres Overview, 2019-2028 (USD Million)
- Flat Tyres
- High Speed Tyres
Regional Overview, 2019-2028 (USD Million)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global hyper cars market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global hyper cars market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Hyper Cars industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on Material, Technology, and Tyres. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global hyper cars market. The report will benefit Every stakeholder involved in the hyper cars market.
- Managers within the hyper cars industry looking to publish recent and forecasted statistics about the global hyper cars market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global hyper cars market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The market value of hyper cars market in 2028 was USD 120.9 billion
The base year for the report is 2020 in hyper cars market.
The hyper cars market is growing at a CAGR of 30.5% during the forecast period.
Over the past few decades, hyper cars have evolved from conventional structure to automated structure. With the growing adoption of numerous technologies, hyper cars are no more limited to a particular and one-time use and being adopted across a wide range of industries and their business processes.
Advanced technology, racing experience, creative and distinctive design will also be the main driving force on the market for hyper vehicles. Shifting customer preference for high-performance sports cars as a status symbol will drive product development over the forecast period. The upsurge in the manufacturing of exceptionally clean, secure and fuel-efficient hybrid / electric cars will promote product demand.
Furthermore, Hypercars can achieve advanced fuel economy three to four-fold enhancements that have equivalence or improved efficiency, safety of amenities, and affordability relative to the current processing of cars. They are highly efficient vehicles that deliver high-performance, secure, clean and economical. Hypercars have exceptional aerodynamics, effective propulsion and effective weight construction that can exceed various typical speeds.
The market is consolidated as several major market players currently hold the major market share. However, the market is expected to become fragmented in the forthcoming years as several new market players are emerging from developing countries such as India, Japan, China, and other countries.
Material Segment
Based on the Material segment, the market is bifurcated into Carbon Fiber, steel and Aluminum. In 2020, the Carbon Fiber segment accumulated the maximum market share and it is likely to continue its dominance throughout the forecast years owing to the extensive demand from consumers and easy availability. Aluminum is likely to grow at a faster pace as the automotive industry is undergoing an innovative phase regarding vehicle makeover.
Technology Segment
Based on the Technology, the market is segmented into Four Wheel Driving, Brake Steering, and active airbrakes. The Wheel driving segment seized the maximum market share in 2020 and it is likely to maintain its place throughout the forecast years. The growth of this segment is largely ascribed to the latest trends in the automotive sector. Brake steering is likely to gain a significant position owing to the high revenue share and preference.
Tyres Segment
Based on the Tyres, the market is segmented into Flat Tyres and High Speed Tyres. The High speed tyres segment seized the maximum market share in 2020 and it is likely to maintain its place throughout the forecast years. The growth of this segment is largely ascribed to wide availability of tyres due to high production ability. In addition, the segment is also witnessing the growth due to use of high-speed tyres in the production of battery-operated cars due to environmental compliance and demand for reducing carbon footprint
North America is likely to account for the maximum market contribution during the forecast years. The domination of this region is largely ascribed to the cooperation of national and foreign automakers in the region. Entry from overseas car producers like McLaren and Koenigsegg will drive market growth for hypercars. However, the Asia-Pacific is likely to gather noteworthy growth through the forecast years 2021-2028. The growth of the Hyper Cars market in this region is mostly ascribed to the increasing disposable income together with high living standards will drive the region's demand for the product.
.png "North American Hyper Cars Market 2019-2028 (USD Billion)")
The major players of the global hyper cars market are Automobili Lamborghini, McLaren, Daimler Group, Porsche, Ferrari (Exor), Bugatti, Koenigsegg, Hennessey Performance Engineering, Zenvo, and Pagani Automobili. Moreover, the additional prospective market players in the hyper cars market are Maserati and Lexus. Renowned companies are offering new and modern hyper cars software services. Besides, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.