Innovations in automotive technology, such as advancements in
electric drivetrains, hybrid systems, and autonomous driving
features, are attracting customers seeking cutting-edge performance
and sustainability.
WILMINGTON, Del., July 24,
2024 /PRNewswire/ -- The supercars
market was projected to attain US$ 30.2
billion in 2023. It is likely to garner an 8.0% CAGR from
2024 to 2034, and by 2034, the market is expected to attain
US$ 71.9 billion.
Involvement in motorsports and racing helps manufacturers
showcase their technology and performance capabilities, creating a
direct influence on consumer interest in supercars. There is a
growing trend towards electrification in the supercar segment.
Manufacturers are developing electric and hybrid models to meet
stringent environmental regulations and cater to environmentally
conscious consumers.
The use of lightweight materials like carbon fiber and advanced
aerodynamics to enhance performance and fuel efficiency is becoming
more prevalent. Increasing demand for customized and personalized
supercars allows consumers to have unique, tailor-made vehicles,
driving interest and sales.
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Integration of advanced connectivity features, such as
infotainment systems, telematics, and autonomous driving
capabilities, is becoming a trend in the supercar market. The
pre-owned supercar market is growing, offering an opportunity for
manufacturers to engage with a broader customer base through
certified pre-owned programs. Providing exclusive experiences such
as driving events, track days, and brand heritage tours can boost
customer engagement and brand loyalty.
Key Findings of Market Report
- The integration of supercars into the broader luxury market,
including collaborations with high-end fashion brands and luxury
lifestyle products, enhances the market appeal.
- The use of digital tools and virtual reality (VR) for design,
testing, and customer experience is on the rise. Virtual showrooms
and test drives can enhance customer engagement.
- Subscription services and flexible leasing options are gaining
traction, providing consumers with more accessible and flexible
ways to experience supercars without full ownership.
- The incorporation of advanced safety features and
driver-assistance systems (ADAS) is becoming more prevalent,
addressing consumer demand for safer high-performance
vehicles.
Market Trends for Supercars
- By vehicle type, the track-focused supercars segment is
expected to boost the growth of the supercars market.
- The primary driver for track-focused supercars is the appeal to
performance enthusiasts who seek the highest levels of driving
dynamics, speed, and handling.
- These vehicles are designed for maximum performance on
racetracks, attracting a niche market of avid drivers and racing
fans.
- Continuous advancements in automotive technology, such as
lightweight materials (e.g., carbon fiber), aerodynamics, and
powerful engines, are pushing the boundaries of what track-focused
supercars can achieve.
- On the basis of propulsion, the electric supercars segment is
anticipated to propel the market growth.
- Electric supercars offer unique performance benefits, including
instant torque delivery, superior acceleration, and a lower center
of gravity due to battery placement.
Supercars Market Report Scope:
Report
Coverage
|
Details
|
Forecast
Period
|
2024-2034
|
Base
Year
|
2020-2022
|
Size in 2023
|
US$ 30.2 Bn
|
Forecast (Value) in
2034
|
US$ 71.9 Bn
|
Growth Rate
(CAGR)
|
8.0 %
|
No. of
Pages
|
150
Pages
|
Segments
covered
|
By Vehicle Type, By
Propulsion, By Engine Capacity, By Power, By Speed
|
Global Market for Supercars: Regional Outlook
North America
- North America is home to
significant technological advancements in the automotive industry,
including electric and hybrid supercars.
- Innovations in battery technology, autonomous driving features,
and performance enhancements attract consumers looking for
cutting-edge vehicles.
- The presence of major supercar manufacturers and their
extensive dealership networks in North
America boosts market growth.
- Brands like Ferrari, Lamborghini, Porsche, and newer entrants
like Tesla with their Roadster, have strong market presence and
brand loyalty.
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Asia Pacific
- The overall luxury market in Asia
Pacific is expanding, with a growing appetite for high-end
products. Supercars, being the epitome of luxury and performance,
are benefiting from this trend.
- The automotive industry in Asia
Pacific is growing, with significant investments in
technology and manufacturing.
- This growth supports the supercar market through advancements
in production capabilities and local availability.
Supercars Market: Key Players
The supercars market is highly competitive, driven by brand
heritage, technological innovation, design excellence, performance
capabilities, and customer-centric strategies.
Established players must navigate evolving market dynamics while
new entrants capitalize on technological disruption and changing
consumer preferences to carve out their niche in the competitive
landscape. The following companies are well known participants in
the supercars market:
- Aston Martin Lagonda Global Holdings PLC
- Audi AG
- Automobili Lamborghini S.p.A.
- Bentley Motors Limited
- BUGATTI Automobiles S.A.S.
- Bugatti Rimac d.o.o.
- Czinger
- Dr. Ing. h.c. F. Porsche AG
- Ferrari S.p.A.
- Gordon Murray Automotive
- Hennessey Performance Engineering
- Koenigsegg Automotive AB
- Lotus Technology Co. Ltd.
- Others
Key Developments
- In 2024, McLaren Automotive unveiled the blueprint for its
upcoming design ethos, drawing on six decades of racing legacy and
exceptional supercars. This future direction in McLaren's design
philosophy will be anchored on five key principles: epic, athletic,
functional, focused, and intelligent. These principles will shape
the foundational elements of McLaren's next-generation vehicles,
defining their aesthetic and engineering excellence.
- In the same year, Audi concluded the production of its iconic
R8 supercar, bringing an end to a distinguished 17-year era. The
final R8, a high-performance model, completed its journey down the
assembly line at Audi's Bollinger
Hofe facility in Germany
and will be enshrined at the company's museum in Ingolstadt.
Supercars Market Segmentation .
Vehicle Type
- Coupe Supercars
- Convertible Supercars
- Track-focused Supercars
Propulsion
- Gasoline
- Diesel
- Electric
- Hybrid
Engine Capacity (CC)
- Compact (Below 2999cc)
- Mid-size (3000cc-3999cc)
- Full-size (Above 4000cc)
Power (KW)
- Less than 300 (KW)
- 301 (KW) - 400 (KW)
- 401 (KW) - 500 (KW)
- More than 500 (KW)
Speed (mph)
- Less than 200 mph
- 201 mph - 250 mph
- 251 mph - 300 mph
- 301 mph - 350 mph
- More than 350 mph
Transmission
Region
- North America
- South America
- Europe
- Asia Pacific
- Middle East & Africa
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