The global electric racing car market is expected to grow at a CAGR of 15% during the forecast period 2023-2027. This growth has been driven by a number of factors, including growing environmental concerns, stringent government regulations, and the decreasing cost of electric vehicle batteries.
Environmental concerns are one of the major factors driving the growth of the global electric racing car market. Electric racing cars have higher fuel economy and zero or low carbon emissions, making them a more environmentally friendly option than traditional gasoline racing cars.
Stringent government regulations are also giving a boost to the growth of the global electric racing car market. Governments around the world are imposing increasingly stringent regulations on pollutant emissions from vehicles. This is forcing automakers to develop and produce electric racing cars that meet these regulations.
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Declining cost of electric vehicle batteries is another factor expected to drive the growth of the global electric racing car market. The cost of electric vehicle batteries has been declining in recent years due to technological advances and the mass production of these batteries. This has made electric racing cars more affordable, which is expected to increase their demand in the coming years.
The global electric racing car market is segmented by type, battery capacity, transmission, and region.
- By Type: The market is segmented into open country, high fuel machines, rally cars, prototype racing cars and others. Main fuel crawlers are expected to dominate the market in the coming years. These cars are the fastest racing cars in the world and can reach speeds of up to 335 miles per hour.
- By Battery Capacity: The market is segmented into <50 kWh dhe >50 kWh. Batteries <50 kWh pritet të dominojnë tregun në vitet e ardhshme. Këto bateri kanë një rreze më të gjatë dhe janë më të qëndrueshme se bateritë >50 kWh.
- By Transmission Type: The market is segmented into manual and automatic. Manual cars have dominated the market for the past decade, but automatic cars are gaining traction due to their ease of use.
- By region: The market is segmented into North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific is expected to dominate the market in the coming years due to increasing demand for electric vehicles in the region.
The global electric racing car market is a very competitive market. Major players in the market include Tesla, Audi, Porsche and BMW. These players are focusing on developing innovative electric racing cars and expanding their global footprint to gain a competitive edge in the market.
A list of key market players of the global electric racing car market includes:
- Tesla Inc.
- BMW AG
- Renault group
- Volkswagen Group (Audi)
- Jaguar Land Rover
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“Electric racing car in Asia Pacific is expected to hold the largest market share during the forecast period. The APAC market is led by courtiers such as China, India, Japan and South Korea. China is the world’s largest producer and user of electric vehicles, so it dominates the electric racing car market. The Chinese government has taken several initiatives such as subsidies and tax rebates for buyers of electric racing cars. Their government has also mandated automakers to produce a certain number of electric vehicles and has provided major financial support for the installation of electric car charging stations. Europe is also expected to grow at a rapid pace over the coming years due to the high purchasing power of users. Stringent regulations regarding environmental concern further drive market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Electric Racing Cars Market by Type (Open Country, Main Fuel Cars, Rally Cars, Prototype Racing Cars, Others), By Battery Capacity (<50 kWh, >50 kWh), by transmission type (manual, automatic), by region, Forecast and competitive opportunities, 2027“ has assessed the future growth potential of the global racing car market and provides statistics and information on market size, structure and future market growth. The report aims to provide cutting-edge market intelligence and help decision makers make sound investment decisions. In addition, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities in the global racing car market.
|Historical date||2017 – 2020|
|Forecast period||2023 – 2027|
|Quantitative units||Revenue in USD Million, Unit Volume and CAGR for 2017-2021 and 2022-2027|
|Report coverage||Revenue forecast, volume forecast, company share, competitive landscape, growth factors and trends|
|Segments covered||· Type
· Battery capacity
· Type of transmission
· The region
|Regional scope||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Top companies profiled||Tesla Inc, BMW AG, Groupe Renault, Volkswagen Group (Audi) and Jaguar Land Rover.|
|Extent of personalization||10% free report customization with purchase. Addition or change in country, region and segment scope.|
|Pricing and Purchase Options||Use custom shopping options to meet your exact search needs. Explore purchase options|
|Submission format||PDF and Excel via email (We can also provide the editable version of the report in PPT/Word format on special request)|
Scope of report:
In this report, the Global Electric Racing Car Market is segmented into the following categories, apart from the industry trends which are also detailed below:
- Global Electric Racing Cars Market, by Type:
- Open seats
- Top Fuel Dragsters
- Rally car
- Prototype racing cars
- Global electric racing car market, by battery capacity:
- Global Electric Racing Car Market, by Transmission Type:
- Global Electric Racing Car Market, by Broadcast Region:
o North America
o Asia Pacific
o South America
o Middle East and Africa
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About TechSci Research:
TechSci Research is a research-based management consulting firm that provides market research and advisory solutions to its clients worldwide, spanning a variety of industries. TechSci Research’s core values are value, integrity and insight. Led by a dynamic team of industry experts, TechSci Research provides its clients with high-value research and advisory services that help them identify new market opportunities, growth drivers and innovative ways to capture market share. As a result, TechSci’s client leads rather than follows market trends. Unbound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increasing use of technology as engines of innovation to deliver unique research value. Offered as an alternative to traditional market research, TechSci Research reports not only provide data and insights, but highlight insights in a more usable and interactive format for its clients.
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