Hyper Cars Market Report 2024 (Global Edition)

Global Hyper Cars Market Report 2024 Market Size Split by Product Type Outlook: (Gasoline Hyper Cars, Electric Hyper Cars, Hybrid Hyper Cars), by End Use Outlook: (Entertainment, Racing Competition, P...

Hyper Cars Market Report Description

We have various report editions of Hyper Cars Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Competitive Landscape of the Hyper Cars Market

The market leaders in the fiercely competitive hypercar segment include Bugatti, Ferrari, Lamborghini, McLaren, and Porsche. Newcomers like Rimac are becoming more well-known because of their cutting-edge electric hypercars. Performance optimization, technological innovation, and exclusivity through limited editions are the main areas of competition. There are several strategic partnerships, such as those with IT companies for electric and driverless breakthroughs. Additionally, manufacturers prioritize sustainability and personalization in order to stay ahead of the competition.

In January 2024, Mercedes-Benz unveiled its generative AI-powered MBUX Virtual Assistant at CES 2024. The launch will transform the interaction between the driver and the vehicle into a conversational one, providing a highly customized in-car experience. (Source:https://group.mercedes-benz.com/innovation/product-innovation/technology/ces-2024.html) In August 2022, Czinger Vehicles unveiled the 21C V Max and Hyper GT, two revolutionary, never-before-seen additions to their storied lineup, at The Quail during Monterey Car Week. (Source: https://www.czinger.com/around-the-world/19) In March 2021, Porsche, a well-known German automaker, declared that it would increase its ownership of Rimac Automobili from 15% to 24%. Based in Croatia, Rimac Automobili is a car manufacturer that creates electric super sports cars and advanced electromobility components. Porsche became a stakeholder in Rimac Automobili in 2018. (Source:https://newsroom.porsche.com/en/2021/company/porsche-increases-stake-rimac-automobili-24-per-cent-23825.html)

Top Companies Market Share in Hyper Cars Industry: (In no particular order of Rank)

• Ferrari
• McLaren Automotive
• Porsche
• Koenigsegg Automotive AB
• Aston Martin
• Lotus Cars
• Bugatti
• Pagani
• Mercedes
• Gordon Murray Automotive
• Lamborghini
• Alfa Romeo
• W Motors
• JLR
• Rimac Automobili
• Zenvo Automotive
• Dendrobium
• Aspark
• Ariel
• Xing Mobility
• Pininfarina
• Tesla
• Hispano Suiza.
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Hyper Cars Market

Which Region Dominates the Hyper Cars Market in 2024?

According to Cognitive Market Research, North America currently dominates the Hyper Carss market, and the region is expected to have significant growth during the projected period. The market for hypercars is expected to develop in North America due to the region's large concentration of wealthy people and strong automotive culture. The use of hyper vehicles is supported by the region's sophisticated infrastructure, which includes racetracks and excellent road networks. Furthermore, North America is a center for technological advancement, which has facilitated the quick uptake of electric and hybrid hypercars. The existence of major manufacturers and a growing desire for sustainable, limited-edition versions further increases demand. North America's strong luxury goods industry and favorable economic climate make it a key player in the global expansion of the hypercar market.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). A growing number of high-net-worth individuals and rising disposable incomes, especially in nations like China, Japan, and India, are supporting Asia Pacific's emergence as a major driver of the hypercar market. The region's appeal for hypercars is increased by growing infrastructure and rising demand for premium and high-performance automobiles. Additionally, due to government subsidies for sustainable automobiles and environmental concerns, the region is seeing a move toward electric and hybrid hyper cars. The market for hypercars in Asia Pacific is further driven by the desire for unique and limited-edition vehicles as well as a developing automotive culture.

The current report Scope analyzes Hyper Cars Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Hyper Cars

According to Cognitive Market Research, the global Hyper Cars market size was estimated at USD 19695.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 7878.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 31.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Hyper Cars market with a market size of USD 6215.90 million in 2024 and is projected to grow at a CAGR of 31.0% during the forecast period. The U.S. increased spending on fast highways and infrastructure for electric hypercar charging drives this market's expansion.
• The Canadian Hyper Cars market had a market share of USD 945.38 million in 2024 and is projected to grow at a CAGR of 32.0% during the forecast period. A significant population of the population in Canada is well-off and has the money to buy hypercars.
• The Mexico Hyper Cars market is projected to witness growth at a CAGR of 31.7% during the forecast period, with a market size of USD 716.92 million in 2024.

Europe Hyper Cars

According to Cognitive Market Research, the global Hyper Cars market size was estimated at USD 19695.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 5908.65 million in 2024 and will grow at a compound annual growth rate (CAGR) of 31.5% from 2024 to 2031.

• The United Kingdom Hyper Cars market had a market share of USD 992.65 million in 2024 and is projected to grow at a CAGR of 32.3% during the forecast period. Some of the most well-known hypercar manufacturers, such as McLaren and Aston Martin, are based in the UK, which increases demand for both domestic and international brands.
• The France Hyper Cars market is projected to witness growth at a CAGR of 30.7% during the forecast period, with a market size of USD 543.60 million in 2024.
• According to Cognitive Market Research, the German Hyper Cars market size was valued at USD 1169.91 million in 2024 and is projected to grow at a CAGR of 31.7% during the forecast period. High-performance hypercars with state-of-the-art technology are in high demand because Germans place a high value on innovation and precision engineering.
• The Italy Hyper Cars market is projected to witness growth at a CAGR of 30.9% during the forecast period, with a market size of USD 508.14 million in 2024.
• The Russia Hyper Cars market is projected to witness growth at a CAGR of 30.5% during the forecast period, with a market size of USD 915.84 million in 2024.
• The Spain Hyper Cars market is projected to witness growth at a CAGR of 30.6% during the forecast period with a market size of USD 484.51 million in 2024
• The Luxembourg Hyper Cars market is projected to witness growth at a CAGR of 31.6% during the forecast period, with a market size of USD 183.17 million in 2024.
• The Portugal Hyper Cars market is projected to witness growth at a CAGR of 31.3% during the forecast period, with a market size of USD 124.08 million in 2024.
• The Greece Hyper Cars market is projected to witness growth at a CAGR of 31.8% during the forecast period, with a market size of USD 70.90 million in 2024.
• The Rest of Europe's Hyper Cars market is projected to witness growth at a CAGR of 30.2% during the forecast period, with a market size of USD 915.84 million in 2024.

Asia Pacific Hyper Cars

According to Cognitive Market Research, the global Hyper Cars market size was estimated at USD 19695.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 4529.97 million in 2024 and will grow at a compound annual growth rate (CAGR) of 35.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Hyper Cars market size was valued at USD 2038.48 million in 2024 and is projected to grow at a CAGR of 34.5% during the forecast period. Hyper Cars surged in China due to the Increased focus of the manufacturers and major market players.
• The Japan Hyper Cars market is projected to witness growth at a CAGR of 33.5% during the forecast period, with a market size of USD 625.14 million in 2024.
• The India Hyper Cars market had a market share of USD 543.60 million in 2024 and is projected to grow at a CAGR of 36.8% during the forecast period. The desire for luxury and performance automobiles, such as hypercars, is fueled by India's growing middle class and billionaires.
• The South Korean Hyper Cars market is projected to witness growth at a CAGR of 34.1% during the forecast period, with a market size of USD 453.00 million in 2024.
• The Australian Hyper Cars market is projected to witness growth at a CAGR of 34.7% during the forecast period, with a market size of USD 235.56 million in 2024.
• The South East Asia Hyper Cars market is projected to witness growth at a CAGR of 36.0% during the forecast period, with a market size of USD 312.57 million in 2024.
• The Rest of Asia Pacific Hyper Cars market is projected to witness growth at a CAGR of 34.8% during the forecast period, with a market size of USD 321.63 million in 2024.

South America Hyper Cars

According to Cognitive Market Research, the global Hyper Cars market size was estimated at USD 19695.5 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 984.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 32.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Hyper Cars market size was valued at USD 421.48 million in 2024 and is projected to grow at a CAGR of 33.0% during the forecast period. Hyper Cars flourished in Brazil due to increased interest in international luxury brands.
• Argentina's Hyper Cars market had a market share of USD 165.44 million in 2024 and is projected to grow at a CAGR of 33.3% during the forecast period. The demand for premium and performance cars is driven by Argentina's expanding affluent consumer base.
• Colombia Hyper Cars market is projected to witness growth at a CAGR of 32.2% during the forecast period, with a market size of USD 87.64 million in 2024.
• Peru Hyper Cars market is projected to witness growth at a CAGR of 32.6% during the forecast period, with a market size of USD 80.75 million in 2024.
• Chile Hyper Cars market is projected to witness growth at a CAGR of 32.7% during the forecast period, with a market size of USD 70.90 million in 2024.
• The Rest of Latin America's Hyper Cars market is projected to witness growth at a CAGR of 31.5% during the forecast period, with a market size of USD 158.55 million in 2024.

Middle East and Africa Hyper Cars

According to Cognitive Market Research, the global Hyper Cars market size was estimated at USD 19695.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 393.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 32.7% from 2024 to 2031..

• The GCC Countries Hyper Cars market is projected to witness growth at a CAGR of 33.5% during the forecast period, with a market size of USD 168.59 million in 2024. Hyper Cars sales flourish due to the high disposable income.
• The Egypt Hyper Cars market is projected to witness growth at a CAGR of 33.0% during the forecast period, with a market size of USD 41.36 million in 2024.
• The South African Hyper Cars market is projected to witness growth at a CAGR of 33.7% during the forecast period, with a market size of USD 62.24 million in 2024. Hyper Cars sales flourished in South Africa due to high-performance car enthusiasm, which a vibrant motorsport culture can generate.
• The Turkey Hyper Cars market is projected to witness growth at a CAGR of 32.2% during the forecast period, with a market size of USD 33.88 million in 2024.
• The Nigeria Hyper Cars market is projected to witness growth at a CAGR of 31.8% during the forecast period, with a market size of USD 41.36 million in 2024.
• The Rest of the MEA Hyper Cars market is projected to witness growth at a CAGR of 31.7% during the forecast period, with a market size of USD 46.48 million in 2024.

Hyper Cars Market Analysis

How are Segments Performing in the Global Hyper Cars Market?

Hyper Cars Market Product Type Segment Analysis

According to Cognitive Market Research, hybrid hyper cars are likely to dominate the Hyper Cars Market over the forecast period. The majority of people have adopted hybrid cars because of their dual combustion engine system, which is responsible for the segment's rise. The majority of hypercars are powered by hybrid propulsion technology. They could be powered by electric engines and made of gasoline or diesel technologies. Hybrid vehicles reduce carbon emissions and improve fuel efficiency. The demand for hybrid vehicles in the hypercar market is being driven by growing concerns about environmental pollution caused by fuel-engine vehicles and the fact that hybrid cars are more fuel-efficient.

The electric hyper cars are the fastest-growing segment in the Hyper Cars Market. The segment's expansion is ascribed to the growing market acceptance of electric vehicles because of their distinct qualities, including their engaging performance, distinctive appearance, and cutting-edge technology. Electric motors and batteries power electric hypercars. An electric vehicle battery (EVB) is the type of battery used in electric vehicles. It stores electricity and provides power to the electric motor so that the vehicle can start or go forward. The demand for electric vehicles in the hypercar industry is growing faster because of factors like current designs, zero emissions, environmental concerns, and a more competitive market.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Hyper Cars Industry. Request a Free Sample PDF!

Hyper Cars Market End-Use Segment Analysis

According to Cognitive Market Research, the racing competition segment holds the largest share of the market. The racing competition end-use segment largely drives the market for hypercars. In order to demonstrate their engineering prowess and performance, numerous hyper car manufacturers create vehicles that integrate cutting-edge motorsport technology for racing events. For optimal speed and agility on the track, these vehicles frequently have strong engines, lightweight construction, and state-of-the-art aerodynamics. Racing events, such as endurance races and track days, have a significant impact on brand prestige and demand among auto enthusiasts. Racing success is used by automakers like Ferrari, McLaren, and Porsche to promote their hypercars to consumers who value luxury and performance.

In the Hyper Cars Market, the private has been expanding at a rapid pace. The market for hypercars' private end-use segment is dominated by wealthy people looking for high-end, performance cars for their usage. In order to satisfy enthusiasts who appreciate the grandeur and distinctive driving experiences, these vehicles provide outstanding speed, luxury, and customization. Collectors and people seeking exclusivity and prestige are drawn to hypervehicles because of their restricted production. Furthermore, customers seeking sustainability and performance are drawn to developments in electric and hybrid technologies. The private end-use market is still growing as more affluent people accept luxury cars as a symbol of their money and creativity.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Hyper Cars Chassis Type Outlook: Segment Analysis

Hyper Cars Market Chassis Type Segment Analysis

According to Cognitive Market Research, the aluminum segment holds the largest market share. Because aluminum is lightweight and improves speed, agility, and fuel efficiency, the market for hypercars is seeing an increase in demand for aluminum chassis. Because of its excellent strength-to-weight ratio, which maintains structural integrity while offering improved performance, aluminum is widely used. Aluminum is being used more often by manufacturers for chassis construction in order to lower the overall weight of the vehicle and enhance handling and acceleration. In electric and hybrid hypercars, where reducing weight is essential to optimizing battery efficiency and range, this tendency is especially noticeable. The need for aluminum chassis in hypercars is anticipated to increase gradually as sustainability and performance continue to be top concerns.

In the Hyper Cars market, the rapidly growing sector is the carbon fiber category. The exceptional strength-to-weight ratio of carbon fiber chassis, which is essential for improving handling and performance, is what drives demand for it in the hypercar industry. Manufacturers are able to reduce vehicle weight while retaining excellent structural integrity since carbon fiber is substantially lighter than steel and aluminum. As a result, speed, acceleration, and fuel efficiency are all increased. Manufacturers of hypercars use carbon fiber chassis to achieve the highest possible performance and aerodynamics. The need for carbon fiber chassis is increasing as lightweight material innovation advances, especially in high-end electric and hybrid hypercars.

• Carbon fiber
• Steel
• Aluminum

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile & Transportation vertical.

Author's Conclusion