The motorsport transmission market was valued at US$ 329.44 million in 2022 and is projected to reach US$ 470.38 million by 2030; it is expected to grow at a CAGR of 4.6% during 2022-2030.
Growing Popularity of Off-Road Racing in US is Driving the Motorsport Transmission Market Growth
Off-road racing has a long history in the US, dating back to the early twentieth century. From Mojave Desert races to off-road trucking championships in Nevada and Baja California, these events are distinguished by difficult courses that test drivers to their utmost. Off-road racing has grown in popularity and exposure in recent years as the sport attracts an increasing number of viewers and enthusiasts. Several reasons have contributed to the growth of off-road racing. Vehicles have become more powerful and capable as technology has advanced, and social media has helped to raise knowledge about the sport.
The global motorsport transmission market ecosystem stakeholders are raw material suppliers, component manufacturers, and transmission manufacturers. Component suppliers play a crucial role in the market ecosystem by providing essential materials, components, parts, and technologies required to design and manufacture transmission. These suppliers contribute to the automotive transmission industry's overall growth. Raw materials include metals such as aluminum, cast iron, steel, and other alloys. Transmission manufacturers convert raw materials into valuable goods. Northern Industrial Mfg., EMP Tech Co., Ltd., TCS Products, Fagor Ederlan, Allison Transmission Holdings, Inc., and Raybestos Powertrain are among the prominent transmission parts suppliers.
The US holds a significant position in the motorsport transmission market, with numerous renowned manufacturers and suppliers. Companies such as Xtrac and G-Force Racing Transmissions are prominent in producing high-performance transmissions for various motorsport disciplines. The US market is driven by a strong motorsport culture, with high demand for NASCAR, IndyCar, drag racing, and off-road racing. The Indianapolis 500, a pinnacle event in IndyCar racing, captivates audiences with its speed and history. NASCAR has become one of the most popular racing sports in the US, and its popularity continues to grow each season. NASCAR averaged more than three million viewers per race in the 2022 season, the most in four years. NASCAR as a sport is always expanding and improving year after year. The governing body seeks suggestions from its drivers regularly in order to improve the experience and safety issues, such as introducing new technology or changing the racing structure. Thus, NASCAR as a sport is growing notably in the US. On the other hand, the popularity of F1 is also growing significantly; in 2021, the Formula 1 season averaged 70 million viewers for each race.
Additionally, the US hosts various racing circuits for sports cars, drag racing, and off-road events, showcasing the nation's diverse love for speed and competition. The US industry emphasizes precision engineering, advanced materials, and continual R&D to enhance performance. Thus, the increased popularity of motorsport and infrastructure has driven the motorsport transmission market, ultimately driving the motorsport transmission market in the US.
Motorsport Transmission Market:
Competitive Landscape and Key DevelopmentsMarelli Holdings Co Ltd, Ricardo Plc, Drenth Gearboxes Holland BV, EMCO Gears Inc, Samsonas Motorsport UAB, Hewland Engineering Ltd, ZF Friedrichshafen AG, SADEV SAS, Holinger Engineering Co Pty Ltd, and Xtrac Ltd are among the key motorsport transmission market players profiled during this study. In addition, several other important motorsport transmission market players have been studied and analyzed during the study to get a holistic view of the motorsport transmission market and its ecosystem.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the motorsport transmission market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the motorsport transmission market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table of Contents
Companies Mentioned
- Marelli Holdings Co Ltd
- Ricardo Plc
- Drenth Gearboxes Holland BV
- EMCO Gears Inc
- Samsonas Motorsport UAB
- Hewland Engineering Ltd
- ZF Friedrichshafen AG
- SADEV SAS
- Holinger Engineering Co Pty Ltd
- Xtrac Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 176 |
| Published | January 2024 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 329.44 Million |
| Forecasted Market Value ( USD | $ 470.38 Million |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
