High speed motor racing is exceptionally enthusiastic and pumps up the adrenaline in both the spectators and the players. The snowballing popularity of motorsports owing to its glamorous sports spirits and ecstatic lifestyle has assessed the global motorsports market size at $26.5 billion as of 2018. According to the IndustryARC observations, the demands in the motorsports market will grow at a CAGR of 3.1% during the forecast period of 2019 to 2025. Additionally, the continuous introduction of fresh racing formats in different geographical terrains are anticipated to reflect positively over the motorsports market in the near future.
The report is titled “Motorsports Market: By Broadcasting (FOX sports, ABC, TNT, ESPN, NBC and others) By Type (Auto Racing, Sports car racing, Stock car racing, Rallying, Drag racing, Kart racing and others ) and By Geography - Forecast (2019-2025).” The report provide all the essential pointers on the motorsports market including but not limited to growth drivers, challenges, restrains, trends, geographical distribution, and the key dominating players.
Global Motorsport Market: Leading Segments
Among applications, the Formula 1 racing series is the most productive segment in the global motorsport market. The growth in this particular segment is increasing at the CAGR of 4.2% during the forecast period of 2019 to 2025. The expanding fan following of the sport is the main reason for growing demands in the motorsport market. The millennial population are considered as the biggest spectators of racing motorsports thereby profiting the global motorsport market.
By region, North
America is the fastest growing region in the global motorsport market. The
region is calculated to have grabbed 41% of the total motorsport market demand share in 2018. The
popularity of motorsports is increasing at a high pace owing to the presence of
financially independent and dedicated motorsport players in the region. Additionally,
the swelling automotive industry accumulated with the emerging electric vehicle
racing segment is responsible for the extensible growth in the global motorsports
Motorsport Market Analysis
Motorsport is an exuberant auto racing event that offers car racing, racing motorcycle, racing trucks, and off-road races. These races involve different motor vehicles such as bikes, cars, go-karts, boats, trucks, and snowmobiles. Formula 1, NASCAR (National Association of Stock Car Auto Racing), World Racing Championship (WRC), and MotoGP are some of the most popular motorsport events. Formula 1 is the most lucid event among them followed by NASCAR and IndyCar Series. According to Forbes , capitals worth $2.6 billion is spent annually for keeping the Formula One’s wheel running for 10 F1 teams. F1 is an ultra-expensive sport which involves high investments and profits. Consistently increasing disposable income is dragging huge populous towards the sport. One other factor of growth in the global motorsport market is the technical advancements in the automobile industry.
Global Motorsport Market Trends
Formula E: Electric Vehicle segment in the global automotive market is surging rapidly. The Formula One racing series is promoting the distinct format of racing which involves sustainable electric motors and engines. The facilitation of sustainable electric products across the world due to stringent Government rules is creating a niche market for formula-e racing giving a whole new dimension to motorsport market revenue.
Enhanced Racing Cars: Motorsport is an adrenaline-driven sport and involves huge capital investments. The utter need to achieve excellence has encouraged the drivers to push their vehicles to its limit. This has subsequently increased the probability of accidents in motorsport events. An astonishing volume of capital is always being invested for the safety of the car and the driver. Enhanced wheelbase, cooling system, stronger and lighter cockpit are some of the aspects that are being worked upon by the key players to achieve efficiency and safety in the global motorsport market.
Global Motorsport Market: Competitive Landscape
Some of the key players mentioned in the report that are currently leading the motorsport market are Mercedes-Benz, Bridgestone Corporation, Ferrari, Red Bull Racing, Haas, Yokohoma, Caterham Cars, Computacenter, Comma Oil And Chemicals Ltd- Cosan S, Lotus F1, Force India, Williams, SAUBER, & Mclaren Automotive Limited.
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A. U.S. Motorsport Component Market
B. Motorsport Components Market Research
What can you expect from the report?
The global motorsport market is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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