Insights Into The Hypercar Market’s Growth Potential 2024-2033
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
The hypercar market has experienced exponential growth, rising from $19.16 billion in 2023 to $25.6 billion in 2024, with a compound annual growth rate (CAGR) of 33.6%. This growth is largely driven by increased mergers and acquisitions, implementation of IoT technologies, a rise in disposable income, and heightened consumer demand for enhanced comfort, safety, and convenience. The market is expected to continue its exponential growth, reaching $69.05 billion by 2028 at a CAGR of 28.2%. This future growth is fueled by the increasing adoption of electric or hybrid hypercars, rising luxury car sales, development in the automobile industry, and advancements in 5G technology. Key trends in the forecast period include strategic collaborations, new product launches, emphasis on technological advancements, and increased installation of cybersecurity systems.
The hypercar market is poised for growth as the sales of luxury cars continue to rise. Luxury brands have a higher perceived value, prompting businesses to focus on enhancing their luxury vehicle sales, especially during auto shows. Hypercars, representing the pinnacle of advanced and high-performance luxury cars, are gaining prominence. In the U.S., luxury car brands delivered 2.2 million vehicles, constituting 14.7% of total U.S. light-vehicle sales. The luxury car industry in the U.S. saw a substantial 13% growth compared to 2021, outpacing the overall industry’s growth of 3.3% from the previous year. Thus, the increasing sales of luxury cars significantly contribute to the growth of the hypercar market, with market sizes in 2023, 2024, and 2028 being crucial for monitoring its trajectory.
Get A Free Sample On The Hypercar Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5293&type=smp
What Are The Key Trends That Influence Hypercar Market Share Analysis?
Companies in the hypercar market are focusing on new technology developments to provide high-quality and efficient transportation services. These advanced technologies include GPS, routing software, and apps that enhance communication and visibility within the transportation system. For example, in 2021, Mercedes-AMG unveiled its Project ONE hypercar, modeled after Formula 1 race cars. This street-legal vehicle features a 1.6-liter turbocharged V-6 engine generating 670 horsepower from the rear wheels, with a total output of 1,000 horsepower from its combustion engine and four electric motors.
Which Market Players Are Driving Growth In The Hypercar Market?
Major companies operating in the market are Plug Power, Toshiba Corporation, Doosan Fuel Cell, Bloom Energy, Ballard Power, SFC Energy AG, Cummins Inc, FuelCell Energy, Panasonic Holdings Corporation, Horizon Fuel Cell Technologies, Reliance Industries, GAIL, National Thermal Power Corporation Limited (NTPC), Indian Oil Corporation, Larsen and Toubro, Adani Green Energy, Tianneng, Corun, Narada, Sinohytec-U, Furuise, Huachang Chemical, Zhongding Group, ITM Power, Ceres Power Holdings, AFC Energy, Proton Motor Power Systems, Hydrogenone Capital Growth, Clean Power Hydrogen, TMH-Energy Solutions, APT spol. s r.o., Grupa Lotos SA, Gdansk-based refiner, Gazprom, Rosatom, Capital Power Corporation, ENMAX (Shepard Energy Centre), Federated Co-operatives Limited (FCL), Strathcona Resources Ltd, Lafarge Canada Inc, ArcelorMittal Mining Canada G.P, Suncor ATCO Heartland Hydrogen Hub, Alberta Power (2000) Ltd . (Heartland Generation), Stelco Inc ., Dow Chemical Canada ULC, Bravo Motor, Great Wall Motor, Hyundai Motor Company, Cummins Brazil, Fortescue Rio Negro Hydrogen Complex, H2Pro, Masdar, NEOM Green Hydrogen Company, Car4future, HyPlat, Chem Energy SA, HySA Systems, Mitsubishi Power Egypt.
How Is The Global Hypercar Market Segmented?
The hypercar market covered in this report is segmented –
1) By Powertrain: Hybrid, Electric, Gasoline
2) By Technology: Four-Wheel Drive, Four-Wheel Steering, Active Airbrakes, Brake Steering
3) By Chassis Type: Carbon Fiber, Steel, Aluminum
4) By Application: Club, Private, Other Applications
Read The Full Hypercar Market Report Here
https://www.thebusinessresearchcompany.com/report/hypercar-global-market-report
The Hypercar Global Market Report 2024 provides an overview of the hypercarmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The hypercar market forecast analyzes hypercar market size, hypercar market share, leading competitor and their market positions.
The Table Of Content For The Hypercar Market Include
1. Hypercar Market Executive Summary
2. Hypercar Market Segments
3. Hypercar Market Size And Template Market Growth Rate
4. Key Hypercar Market Trends
5. Major Hypercar Market Drivers
……
25. Key Mergers And Acquisitions In The Hypercar Market
26. Top Hypercar Companies
27. Hypercar Market Opportunities And Strategies
28. Hypercar Market, Conclusions And Recommendations
29. Appendix
Learn More About The Business Research Company
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: