Technavio has published a new report on the global automotive performance hatchback market from 2017-2021. (Graphic: Business Wire)
Technavio has published a new report on the global automotive performance hatchback market from 2017-2021. (Graphic: Business Wire)
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LONDON—Technavio analysts forecast the global automotive performance hatchback market to grow at a CAGR of almost 2% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global automotive performance hatchback market for 2017-2021. The market is segmented based on geography, including the Americas, EMEA, and APAC.
The hatchback segment is a diverse market. Hatchbacks are most preferred in developing and under-developed countries. The top model in the league is the Mercedes AMG A45, which has the AMG badge for its immense power capacity of 381 hp; this is equal to almost 191 hp per liter of engine capacity. Audi, with its A3 segment, unveiled its RS3 to compete with Mercedes. Audi RS3 features a capacity of 367 hp, making performance hatchback a very competitive segment to operate.
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Technavio automotive research analysts highlight the following three factors that are contributing to the growth of the global automotive performance hatchback market:
- Growing motor sports events
- Development of advanced technologies to fit into the standard vehicle category
- Performance hatch renders low-cost, high-performance experience
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Growing motor sports events
The increasing viewership and participation in motor racing and adventure sports are driving the market. There are many high-performance hatchbacks like the Mercedes AMG A45, Audi RS3, BMW M140i, and Ford Focus RS. The growth in viewership can be directly linked to the demand for performance category of vehicle, with the OEMs making it feasible for the consumers of standard vehicles.
Amey Vikram, a lead automotive manufacturing research analyst at Technavio, says, “Countries like the US, Canada, China, and many countries of Europe host some of the major international championships like Grand Prix, NASCAR, and more. The development of a motor racing circuit is expensive, yet many countries like Brazil, Mexico, and India possess them as they are potential sources of revenue and popularity. The development of racing circuits across these countries will help boost the market growth in the Americas and APAC during the next five years.”
Cost reduction and efficiency
The engine power and torque capacity in standard models have increased twice as much as that was available 10 years back. The average power of all models in the standard category now ranges from 100 hp to 150 hp. The technology available in the base vehicles is being upgraded to more advanced options in terms of engine refinement, engine power, engine torque, and transmission.
“The Ford Focus SE with 2.0L TI-VCT engine produces 160 hp for a normal hatch, whereas the same engine with booster option in Focus ST comes with an eco-boost advancement and delivers 250 hp of power. Therefore, it can be concluded that the cost for advanced technology is reducing to suit the volume segment while driving the prices low in the performance hatchback segment,” adds Amey.
Performance hatch renders low-cost, high-performance experience
Performance hatchbacks serve multi purposes like racing and commutation. It is also more affordable than having a race car and a second car for regular commutation. Therefore, the introduction of models in the range USD 23,000-USD 26,000 has given this segment a boost in terms of sales.
The hatchbacks attributed for a share of about 23% in the global automotive market, of which the performance hatchback segment accounted for a share of more than 5% in 2016. The introduction of new models in the eco-performance hatchback segment has also resulted in the acceptance of such vehicles as they are cost effective as well as performance driven.
Top vendors:
- Daimler
- Ford Motor Company
- Volkswagen
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