Motorsports Market Scope
Motorsport is a sporting event which involves the vehicles either two wheeled such as Bikes or four wheeled such as cars and go carts. The sport involves off road and on road racing. Additionally it includes powerboat racing and air sports. The Motorsports also contributes to the tourism revenue. However, the teams of motorsports rely on the sponsorship for funding their operations.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Ferrari (Italy), McLaren (United Kingdom), Mercedes-Benz (Germany), Red Bull Racing (United Kingdom), Citroen (France), Hendrick Motorsports (United States), Joe Gibbs Racing (United States), Lancia (Italy), Lotus F1 (United Kingdom) and Toyota (Japan) |
CAGR | % |
Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Motorsports market throughout the predicted period.
Ferrari (Italy), McLaren (United Kingdom), Mercedes-Benz (Germany), Red Bull Racing (United Kingdom), Citroen (France), Hendrick Motorsports (United States), Joe Gibbs Racing (United States), Lancia (Italy), Lotus F1 (United Kingdom) and Toyota (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Roush Fenway Racing (United States) and Team Penske (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Motorsports market by Type and Region with country level break-up.
On the basis of geography, the market of Motorsports has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Influencing Trend:
Rising Interest of People towards the Motorcycle Racing and Technological Enhancements are being Done
Market Growth Drivers:
Rising Sports Activities in Developed and Developing Countries and Introduction of New Events for Motorsports
Challenges:
High Risk of Life Threatening Injuries
Restraints:
High Costs Associated with the Manufacturing of Vehicles
Opportunities:
Government Initiatives to Organize the Sports Events
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations