Motorsport Products Market Sales Overview, Regions, Demands, Size, Share, Growth Drivers, Current Trends, Top Players Analysis and Forecast
Nov 24, 2022
According to Market Research Future (MRFR), the global motorsport products market is projected to garner USD 35.39 billion by 2030, registering a 6.45% CAGR during the review period (2022–2030).
Motorsport Products Market Overview
The motorsport products market is expected to witness significant traction in the years to come. The continually rising popularity of motorsports and the growing trend of motor racing would drive market growth. The motorsport products market is growing exponentially, witnessing increasing production globally. The increasing use of the best-performing line of professional motorsport products, such as human-machine interface, NVH, steering systems, and tires, boosts the market size. Besides, significant advances and developments in lightweight automotive/industrial products providing increased comfort and safety escalate the market value.
In addition to the increased production of motorsport products and durability & sturdiness of motorsport products, significant technology upgrades, and rising car racing & motorsport events substantiate market revenues. Rapid economic growth is a major driving force behind the market growth, increasing the number of racing competitions and sales of motorsports products.
Additional factors bolstering market shares include the increasing popularity of motorsports, the rise in power sports enthusiasts, and the increasing number of adventure sports associations worldwide. Technological development pushes the motorsport products market shares to further heights. Product manufacturers use advanced technologies to design their products, such as chassis & powertrain, ADAS, NVH, steering systems, and tires.
After sustainability, the next thing manufacturers focus on is additive manufacturing as a competitive and sustainable form of production. They collaborate to innovate and boost additive manufacturing with metal powder bed fusion technology for large-scale production. They emphasize mass industrialization of automotive products to foster the metal powder printing technology development and support the industrial supply chain.
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Global Motorsport Products Market – Segments
The market is segmented into racing types and regions. The racing type segment comprises rallying, sportscar racing, formula racing, production car racing, touring car racing, stock car racing, and others. The region segment comprises the Asia-Pacific, MEA, Americas, Europe, and rest-of-the-world.
Motorsport Products Market – Regional Analysis
North America dominates the global motorsport products market due to the rising number of bike racing events and biking festivals across the region. Besides, the presence of a large base of racing event organizations and motorsport product manufacturers drives the market growth. Increasing recreational activities needing sports bikes and the growing adoption of superbikes among millennials boost the market size. With the vast demand for racing motorbikes and motorsport products, the US and Canada hold substantial market shares.
Motorsport Products Market – Competitive Analysis
The highly competitive motorsport products market appears fragmented, with the presence of several well-established players. Major players initiate strategic approaches such as mergers & acquisitions, collaborations, and product/technology development to gain a larger competitive share. Substantial investments are transpired to develop products and expand global footprints.
Active market players are,
- Toyota Motor Corporation (Japan)
- Daimler AG (Germany)
- Volkswagen AG (Germany)
- Porsche (Germany)
- Jaguar Land Rover Automotive Plc (UK)
- Ferrari N.V. (Italy)
- Citroën (France)
- Red Bull GmbH (Austria)
- ABT Sportsline GmbH (Germany)
- Groupe PSA (France)
- Subaru Corporation (Japan)
- McLaren Group (UK)
- Toyota Gazoo Racing (Japan)
- Subaru World Rally Team (UK)
- JA Motorsport (India) and others.
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Industry/ Innovation/ Related News
- 04, 2022 — SBS Friction A/S, a leading brake pad manufacturer for racing, announced a collaboration with Ten Kate Racing to develop sustainable brake pads for race use. Ten Kate Racing is extending its collaboration into the team Motonext project, following years of collaboration as partners in racing with the championship team.
This collaboration will mark the completion of the full brake pad program for SBS’s sustainable brake pads. SBS is transforming its entire manufacturing plant in Denmark into a fossil-free manufacturing plant, following its environmental and technological disruption strategy and leading its product transition.
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
1.1 MARKET ATTRACTIVENESS ANALYSIS
1.1.1 GLOBAL MOTORSPORT PRODUCTS MARKET, BY RACING TYPE
1.1.2 GLOBAL MOTORSPORT PRODUCTS MARKET, BY REGION
2 MARKET INTRODUCTION
2.2 SCOPE OF THE STUDY
2.3 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 TOP-DOWN AND BOTTOM-UP APPROACH
3.6 FORECAST MODEL
3.7 LIST OF ASSUMPTIONS
4 MARKET DYNAMICS
4.2.1 INCREASING POPULARITY OF MOTORSPORT
4.2.2 SCOPE OF REVENUE GENERATION THROUGH TICKETING AND BROADCASTING
4.2.3 DRIVER IMPACT ANALYSIS
4.3.1 HIGHER MAINTENANCE COST
4.3.2 RESTRAINT IMPACT ANALYSIS
4.4.1 TECHNOLOGICAL ADVANCEMENTS
4.5 COVID-19 IMPACT ANALYSIS
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