- Hypercar manufacturers are using hydrogen gas instead of gasoline and diesel, which is improving vehicle speed. This is expected to drive sales of hypercars.
- Rise in purchasing capacity of high-income consumers in developed countries is likely to propel the hypercars market
ALBANY, N.Y., Jan. 4, 2022 /PRNewswire/ -- According to the TMR report, the global hypercars market is expected to cross 5,821 units by 2031. Hypercars are gaining popularity with customers mainly due to their enhanced features and better performance than other cars. These supercars are cutting-edge in terms of design and engineering.
Globally, consumers are drawn toward ultra-modern, fuel-efficient, and high-performance automobiles. This factor is expected to generate revenue opportunities for the global hypercars market during the forecast period.
Performance-enhancing technology, such as the use of hydrogen gas rather than conventional fuels and carbon fiber as a lightweight substance, is increasingly being incorporated in hypercars. Such technological integrations are expected to drive sales opportunities in the global hypercars market. In addition, prominent hypercar manufacturers are focused on the development of completely electric hypercars with superior technology, which is projected to drive the demand for electric hypercars during the forecast period.
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Due to rise in disposable income, people are procuring premium cars with distinctive design and appearance, which is anticipated to drive the demand for hypercars in the forthcoming years. This can be attributed to increasing production of fuel-efficient, eco-friendly, and safe hybrid or electric automobiles.
Moreover, key characteristics of hypercars, such as lightweight, efficient propulsion, and outstanding aerodynamics are expected to drive sales opportunities of these vehicles.
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Key Findings of Market Report
- Sophisticated technologies such as rapid braking systems, energy absorption technology, agile and accident handling technology, and accurate avoidance maneuvers are integrated in hypercars. These technologies enhance comfort, safety, and fuel efficiency.
- Companies operating in the global hypercars market are increasing their research and development activities to incorporate new automobile production technologies
- Rising usage of electric or hybrid vehicles in European nations is expected to drive demand for electric hypercars during the forecast period.
- Governments of different countries are enforcing stricter automobile pollution standards, thereby boosting the demand for electric vehicles, which is likely to benefit the hypercars market
- Buyers are preferring electric engines over internal combustion engines. This factor is expected to boost the electric segment of the market.
- The sports vehicle segment of the global hypercars market is being propelled by the incorporation of advanced technologies such as break steering four-wheel drive, four-wheel steering, and active airbrakes
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Global Hypercars Market: Growth Drivers
- Use of premium gas, diesel or petrol-based engines in hypercars, supercars, and sports cars is on the rise, which is likely to increase the market share held by the IC engine category
- Due to increasing use of premium automobiles and a rise in sporting events in Europe, the region is likely to lead the global hypercars market during the forecast period. In Europe, Germany and the U.K. are estimated to be the leading countries in the regional market
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Global Hypercars Market: Key Competitors
Some of the key market players are
- Koenigsegg Automotive AB
- Ferrari S.p.A.
- Gordon Murray Automotive
- Dr.-Ing. h.c. F. Porsche AG
- Bugatti Automobiles S.A.S
- Automobili Lamborghini S.p.A.
Global Hypercars Market: Segmentation
- Electric Car
- Hybrid Car
- Conventional IC Engine Car
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