Hyper Cars Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, Italy, Russia, Poland, China, India, Japan, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, Qatar, Kuwait, UAE), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024
Report ID: GMI1991
Global Hyper Cars Market size is projected to witness a considerable growth, with increasing demand of audaciously designed high performance vehicles with ultra-light construction and aerodynamic body using advanced composite materials. Rising preference for high performance vehicle with enhanced systems, more comfort and safety compared with conventional will add to the growth of hypercars market in forecast time frame.
Automobile industry is shifting focus on construction of ultra-light weight vehicles. Advanced technology, racing experience, creative and unique design will also be the major driving force for hyper cars market.
Shift in consumer preference for high performance sports vehicles as a status symbol will propel product growth over the forecast time frame. Upsurge in production of hybrid/electric vehicles that are outstandingly clean, safe and fuel efficient will support product demand. However, these vehicles are highly priced than counterparts, thus not affordable for everyone. This may hinder industry growth over the forecast period.
These vehicles are electrically-driven and supported by all-wheel drive system. The two systems will assist the front wheels to be individually driven with an active torque vectoring technique. It provides a high horsepower to vehicle coupled with a supercharging or turbocharging system and can reach speed upto 240 MPH. Increasing preference for racing experience among young generation will propel hyper cars market size over the forecast period.
North America is projected to provide various growth opportunities for the automotive manufacturers in the region owing to strong domestic demand. In 2015, the U.S. annual domestic sales surpassed 18 million units. The regional automobile industry is anticipated to witness dynamic changes with collaboration of domestic and foreign automakers in the region. Entry of foreign automobile manufacturers such as McLaren and Koenigsegg will propel hypercars market growth. These manufacturers are expected to build a strong domestic presence with increasing sales numbers, and strong product portfolio and a growing retailer network over the forecast period.
Europe automotive industry is dominated by Germany is native to world's major automotive manufacturers. The regional automotive industry will witness a substantial investment in research and development of technology advanced hyper cars market over the forecast period. Presence of sports automobile manufacturers such as Porsche, Aston Martin, Briggs and McLaren will support product development.
Asia Pacific region is anticipated to be the fastest-growing hypercars market. Increasing disposable income along with high standard of living will drive product demand in the region. Rising environmental concern in the region will lead to surge in production of electrically driven vehicles to meet rising consumer demand.
Hyper cars market is highly concentrated to a limited number of manufacturers. The key industry players are Ferrari, Porsche, Automobili Lamborghini, Koenigsegg, Pagani Automobili, Bugatti, Maserati, Daimler Group, Hennessey Performance Engineering, McLaren, Zenvo. Automobile manufacturers are investing heavily in research and development of advanced systems to meet consumer demand for high performance vehicle.
In July 2017, McLaren announced development of two hyper cars named P15 and BP23 that are scheduled to be in revealed to consumers by 2019. In March 2016, Aston Martin and Red Bull Racing announced development of a new high-performance vehicle named Valkyrie worth around USD 3 million. Companies are expected to launch new products over the forecast period to gain competitive advantage. This will add to the growth of hyper cars market over the forecast period.
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