Hypercar Market Size to Reach $125.79 Billion in 2031, Advancements in 5G Technology will Drive Growth

This report describes and evaluates the global hypercar market. It covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031.

The global hypercar market reached a value of nearly $10,632.8 million in 2021, having increased at a compound annual growth rate (CAGR) of 18.9% since 2016. The market is expected to grow from $10,632.8 million in 2021 to $44,172.1 million in 2026 at a rate of 33.0%. The market is then expected to grow at a CAGR of 23.3% from 2026 and reach $125,795.6 million in 2031.

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Growth in the historic period resulted from increasing mergers and acquisitions, implementation of IOT technologies, a rise in disposable income and increased consumer demand for enhanced user comfort, safety, and convenience. Factors that negatively affected growth in the historic period were high costs of design and development, lack of product innovation fluctuating metal prices and the coronavirus pandemic.

Going forward, increasing adoption of electric or hybrid hypercars, increasing sales of luxury cars, development of the automobile industry and advancements in 5G technology will drive market growth. Factors that could hinder the growth of the hypercar market in the future include lack of charging/swapping infrastructure, distinct regulations by government bodies and high costs involved in training service technicians.

The hypercar market is segmented by powertrain into hybrid, electric and gasoline. The gasoline market was the largest segment of the hypercar market by powertrain, accounting for 93.0% of the total market in 2021. The electric market is expected to be the fastest-growing segment in hypercar market powertrain, going forward at a CAGR of 57.7% during 2021-2026 period.

The hypercar market is segmented by technology into four-wheel drive, four-wheel steering, active airbrakes, brake steering. The four-wheel drive market was the largest segment of the hypercar market by technology accounting for 42.2% of the total market in 2021. The brake steering market is expected to be the fastest-growing segment in hypercar market by technology, going forward at a CAGR of 35.9% during 2021-2026 period.

Asia-Pacific was the largest region in the hypercar market, accounting for 44.7% of the global market in 2021. It was 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.

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