Hypercar Market Market Growth Sees Massive Rate Of 43% Through 2022
The Business Research Company's Hypercar research report expands on key drivers, trends, and growth opportunities in the market.
LONDON, June 16, 2022 -- 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. A 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 term hypercar derives from a supercar, which is the top of the range in performance cars, with the most supreme technology, design, and performance.
The global hypercar market size is expected to grow from $18.34 billion in 2021 to $26.16 billion in 2022 at a compound annual growth rate (CAGR) of 42.7%. The global hypercars market size is expected to grow to $94.99 billion in 2026 at a CAGR of 38%.
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Key Hypercar Industry Trends
Companies involved in the hypercar market are installing cybersecurity systems to combat threats to protect devices, networks, programs, and personal information in networked systems. Network-centric technologies and applications such as cellular, satellite, Wi-Fi, Bluetooth, eSIM-based telematics incorporated in the automotive have created brand new cyberattack shields, as the user's personal details, ranging from location to financials, are also synced with the car's system while connecting their smartphones. So, IT cybersecurity systems have the potential to stop cyberattacks in automotive.
Modern hypercars are capable of connecting to an external infrastructure and, as Vehicle-to-Everything (V2X) communication technologies mature, the necessity to secure communications has become apparent. There is a risk that hypercar are subjected to cyber-attacks that target vehicular communications.
Hypercar Market Share – Regional and Competitor
Asia-Pacific is the largest region in the hypercar market, accounting for 44.7% of the global market in 2021. It is followed by Western Europe, North America and the other regions. Going forward, the fastest growing regions in the hypercar market will be Asia-Pacific and the Western Europe, where growth will be at CAGRs of 35.1% and 33.6% respectively from 2021-2026.
The global hypercar market is moderately fragmented, with a large number of regional players operating in the market. The top ten competitors in the market made up to 76.54% of the total market in 2021. Major players in the market include Dr. Ing. hc F. Porsche AG, Daimler Group, Ferrari N.V., Maserati S.p.A, Automobili Lamborghini S.p.A, Lexus, McLaren Racing Limited, Pagani Automobili, Zenvo Automotive A/S and Bugatti Automobiles S.A.S.
Companies in the hypercar market are getting involved in mergers and acquisitions to increase the demand and brand recognition for their luxury cars.
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