The global hyper car market size is likely to attain over USD 120.9 billion by the year 2028. Besides, it is likely to project a CAGR of nearly 30.5% during the forecast years 2021-2028. 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.
The present and future hyper car market progress is summarized to conclude the attractiveness of the entire market. Also, prime factors that influence the hyper car market opportunities during the forecast years. Factors such rapid surge in production of fuel-efficient, clean, and safe electric/hybrid vehicles are the key factors driving the market growth for hyper car.
Also, the growing propensity towards high-performance vehicles with advanced safety and comfort features is another factor driving market growth 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.
The report also emphasizes several distinctiveness of the global hyper car industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the hyper car industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The hyper car market has tough competition among the new emerging and pre-established market vendors. Besides, the hyper car industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
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.
The Asia-Pacific is likely to gather noteworthy growth through the forecast years 2021-2028. The growth of the hyper car 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 in countries such as India, Japan, and China to compete against other regional players. However, the North American region is likely to account for the maximum market contribution during the forecast years. The domination of this region is largely ascribed 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.
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 car software solutions. In addition, 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.
Segment Overview of Global Hyper Cars Market
Material Overview, 2019-2028 (USD Million)
- 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
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America