Global Hyper Car Market Information by Propulsion (ICE Vehicle, Electric Vehicle and Hybrid Vehicle), by Application (Racing Competition, Entertainment and others) and by Region (North America, Europe, Asia-Pacific and the Rest of the World) - Forecast till 2025
Hyper Car Market Overview
Hyper cars are characterized by their ultra-light and ultra-aerodynamic design, a hybrid-electric drive system, and high fuel efficiency. Hyper car engines have a high horsepower to vehicle ratio and a supercharging or turbocharging system, which provides high efficiency without affecting important vehicle characteristics, such as safety, performance, durability, affordability, and comfort, to be equal or superior to conventional vehicles in every significant respect. The global hyper car market is estimated to witness ~9.3% CAGR from 2019–2025.
Prominent names in the global hyper car market include
BUGATTI AUTOMOBILES S.A.S.
Koenigsegg Automotive AB
Pagani Automobili S.p.A.
Zenvo Automotive A/S
Jaguar Land Rover Automotive PLC
Aston Martin Lagonda Global Holdings plc
Dr. Ing. h.c.F. Porsche AG., and others.
Electric cars are entering the commercial space in a big way with major automotive manufacturers investing heavily in electric versions of their premium offerings. In 2019, British car maker Lotus and Chinese partner Geely have decided to collaborate on its latest creation, Evija. The car will enter mass production by 2020 with a limited number being made heightening its exclusivity.
The global hyper car market is segmented by propulsion and application.
By propulsion, it is segmented into electric vehicle, ICE vehicle, and hybrid vehicle.
By application, it is segmented into entertainment, racing competition, and others.
Europe, Asia Pacific (APAC), North America, and Rest-of-the-World (RoW) are major regions considered in the hyper car market report.
Europe is expected to dominate the market till 2025 due to sufficient investment of capital in research and development for manufacturing latest hyper cars. Preference of luxury cars, increasing purchasing power of individuals, and inclination towards modern cars are factors expected to drive the regional market growth. Introduction of European car delivery programs which deliver cars at the European branch of reputed car maker such as Audi can persuade customers with their purchase decisions.
The APAC region is predicted to register the highest growth rate during the forecast period due to commercialization of hyper cars in Japan, India, and China. Rise of automotive majors establishing facilities in these countries primarily due to the large workforce and presence of skilled personnel for testing and conducting research can drive the market growth. Furthermore, high sales of vehicles despite strong headwinds and change in tax policies is likely to positively impact the hyper car market size.
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