Hypercar Global Market Report 2024

The hypercar market size has grown exponentially in recent years. It will grow from $19.16 billion in 2023 to $25.6 billion in 2024 at a compound annual growth rate (CAGR) of 33.6%. The expansion observed in the historical period can be credited to the growing prevalence of mergers and acquisitions, the implementation of IoT technologies, an uptick in disposable income, and heightened consumer demand for improved user comfort, safety, and convenience.

The hypercar market size is expected to see exponential growth in the next few years. It will grow to $69.05 billion in 2028 at a compound annual growth rate (CAGR) of 28.2%. The anticipated growth in the forecast period can be linked to the rising adoption of electric or hybrid hypercars, a surge in luxury car sales, ongoing developments in the automobile industry, and advancements in 5G technology. Key trends expected in this period encompass strategic collaborations and partnerships, a focus on new product launches, advancements in technology, and an increased emphasis on the installation of cybersecurity systems.

The anticipated surge in luxury car sales is poised to drive the hypercar market's growth in the upcoming years. Businesses are striving to boost their luxury vehicle sales at auto shows, capitalizing on the higher perceived value associated with luxury brands. Hypercars, representing the pinnacle of advanced and high-performance luxury automobiles, have recently gained prominence in the market. According to Auto News, U.S. luxury car brands accounted for 2.2 million vehicles, contributing to 14.7% of total U.S. light-vehicle sales. In comparison to 2021, the luxury car industry in the U.S. experienced a notable 13% growth, while the overall industry expanded by only 3.3%.

The hypercar market is expected to benefit from advancements in next-generation communication technologies, particularly the widespread adoption of 5G. The fifth generation of wireless network technology, 5G, offers enhanced speeds and improved wireless service capacity. With greater data transfer potential than its predecessors, such as 4G and 3G, 5G is set to enhance Vehicle-to-everything (V2X) communication systems. According to Gartner, global 5G network infrastructure revenue was projected to grow by 39% to $19.1 billion in 2021, up from $13.7 billion in 2020. The increasing coverage of 5G in tier-1 cities, expected to reach 60% by 2024, is a significant factor. These cities are characterized by developed real estate markets and high levels of overall development. JPMorgan predicts that the 5G market in North America will surpass $180 billion by 2030, further driving demand for V2X technologies in automobiles and influencing the hypercar market.

Companies in the hypercar market will concentrate on developing new technologies. This includes the integration of GPS, routing software, and applications to enhance transportation services' quality and efficiency. These technologies, relying on GPS, enable real-time tracking, proactive communication, and accurate destination routing. For example, in 2021, Mercedes-AMG unveiled the Project ONE hypercar, modeled after Formula 1 race-ready vehicles, showcasing advanced hybrid technology. With a 1.6-liter turbocharged V-6 engine and four electric motors, the street-legal race car delivers a remarkable 1,000 horsepower.

Companies operating in the hypercar market are placing a strong emphasis on introducing new products to enhance brand awareness, stimulate increased demand, and gain a competitive edge. As an illustration, in October 2021, Vazirani Automotive, an innovative startup based in India, unveiled the Ekonk, an electric hypercar that stands out as the lightest and fastest car ever produced by the company. Vazirani Automotive managed the entire development process of the vehicle, and it underwent testing at the recently inaugurated Naxtrax high-speed facility, achieving an impressive top speed of 309 km/h.

In March 2021, Porsche AG, the German automobile manufacturer, made a strategic move by acquiring an additional 8.5% stake in Rimac Automobili for a substantial sum of $83.3 million. Prior to this transaction, Porsche AG had already secured a 15.5% stake in Rimac Automobili. This acquisition is poised to bolster Porsche AG's capabilities with cutting-edge series components, particularly in the realms of batteries and electric vehicle (EV) parts. Rimac Automobili, headquartered in Croatia, is renowned as an electric hypercar manufacturer and a supplier of EV components to the automotive industry.

Major companies operating in the hypercar market report are Dr. Ing. hc F. Porsche AG, Daimler Group, Ferrari N.V., Maserati S.p.A, Automobili Lamborghini S.p.A, Lexus, McLaren Racing Limited, Bugatti Automobiles S.A.S., Zenvo Automotive A/S, Vazirani Shul, DC Avanti,, Motormind Hyperion, Tata RaceMo., Apollo Intensa Emozion, Schneider Transport SA, Gefco, LDI Dimotrans Group, Xpo Transport Solutions Spain SL, Primafrio SL, Trans Sese SL Deutsche Post AG, Schenker Aktiengesellschaft, Dachser Group SE & Co, HAVI Logistics GmbH, Arrinera, ElectroMobility, Izera, Hydrocar, Leopard Automobile, Melex AvtoVAZ, Lada, GAZ, KAMAZ, NAMI, Aurus Motors, UAZ, Hennessey Performance Engineering (HPE), Koenigsegg, Dodge, American supercar brands, Draco Motors, Chevrolet Corvette, SSC North America.

Europe was the largest region in the hypercar market in 2023. Asia-Pacific is expected to be the fastest region in the forecast period. The regions covered in the hypercar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hypercar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary powertrain options for hypercars include hybrid, electric, and gasoline systems. The electric powertrain in a hypercar involves the integration of an internal combustion engine with electrical components such as an electric motor and power electronics. Various technologies are employed, such as four-wheel drive, four-wheel steering, active airbrakes, and brake steering. Different types of chassis materials, including carbon fiber, steel, and aluminum, are utilized, catering to various contexts such as clubs, private use, and other applications.

The hypercar market research report is one of a series of new reports that provides hypercar market statistics, including hypercar industry global market size, regional shares, competitors with a hypercar market share, detailed hypercar market segments, market trends and opportunities, and any further data you may need to thrive in the hypercar industry. This hypercar market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hypercar market consists of sales of high-performance sports car and luxurious cars. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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