The market is anticipated to register growth with an impressive CAGR in the forecast period, 2023-2027
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The market growth can be attributed to the augmenting need for a sustainable mode of car racing. With the rising greenhouse effects and the increasing temperatures across the globe, the demand for more sustainable commuting solutions is on the surge. The degrading air quality due to rising carbon footprints has led to the rise in a number of respiratory disorders such as asthma, bronchitis, lung cancer, generic cough & cold, etc. As a result, the global market for electric racing cars is estimated to grow at a rapid pace over the coming years. Moreover, the rising per capita income of the people, along with the increase in millionaires around the world, is providing a thrust to the market, as the high-income group is more enticed by such luxurious products.
Rising Government Initiatives to Curb Carbon Emissions is Fueling the Product Demand
The growing government support to accelerate the adoption of long-range, zero emission, electric racing cars through tax rebates and subsidies is providing a surge to the global electric racing car market. This has compelled the manufacturers to increase the production of electric racing cars and the installation of their fueling stations. Moreover, the depletion of crucial fossil fuel such as petrol and diesel are further pushing the need to manufacture and replace ICS vehicles with electric vehicles. To support this further, governments of various nations are extending financial support to several private companies to develop EV charging and hydrogen fueling stations. The governments of several companies are also offering incentives to electric racing car buyers. This will create opportunities for OEMs to expand their market size and revenue stream.Reducing Cost of Electric Batteries Facilitates the Market Growth
A lot of companies are introducing new and technically advanced products in the electric car racing segment, which is making the global electric car racing market highly competitive. Moreover, the cost of electric batteries has reduced over the past decade due to technological advancements and the production of electric vehicle batteries in bulk. This, in turn, has decreased the cost of electric racing cars as electric batteries are one of the most priced components of the electric vehicle.Market Segmentation
The Global Electric racing car Market is segmented by type, by battery capacity, by transmission type, regional distribution, and competitional landscape. Based on type, the market is differentiated open seaters, top fuel dragsters, rally cars, prototype race cars, and others. By battery capacity the market is bifurcated into < 50 kWh and >50 kWh. Based on transmission type the market is fragmented into manual and automatic. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North America, Europe, Asia Pacific, Middle East and Africa, South America.Company Profile
Tesla Inc, BMW AG, Groupe Renault, Volkswagen Group (Audi), and Jaguar Land Rover are the leading market players responsible for the growth of Global Electric racing car Market.Report Scope
In this report, Global Electric racing car Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:Global Electric racing car Market, by Type:
- Open Seaters
- Top Fuel Dragsters
- Rally Cars
- Prototype Race Cars
- Others
Global Electric racing car Market, by Battery Capacity:
- < 50 kWh
- >50 kWh
Global Electric racing car Market, by Transmission Type:
- Manual
- Automatic
Global Electric racing car Market, by Transmission Region:
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global Electric Racing Car Market.Available Customizations
With the given market data, customizations are offered according to specific needs. The following customization options are available for the report:- Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Electric Racing Car Market
5. Voice of Customer
5.1. Brand Satisfaction Level
5.2. Aided Brand Recall and Unaided Brand Recall
5.3. Challenges/Unmet Needs
6. Global Electric Racing Car Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value and Volume
6.2. Market Share & Forecast
6.2.1. By Type (Open Seaters, Top Fuel Dragsters, Rally Cars, Prototype Race Cars, Others)
6.2.2. By Battery Capacity (< 50 kWh, >50 kWh)
6.2.3. By Transmission Type (Manual, Automatic)
6.2.4. By Region (North America; Europe; Asia Pacific; South America and Middle East & Africa)
6.2.5. By Company (2021)
6.3. Product Market Map (By Type, by Region)
7. North America Electric Racing Car Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value and Volume
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Battery Capacity
7.2.3. By Transmission Type
7.2.4. By Country (United States; Canada; Mexico)
7.3. Product Market Map (By Battery Capacity, by Country)
7.4. North America: Country Analysis
7.4.1. United States Electric Racing Car Market Outlook
7.4.1.1. Market Size & Forecast
7.4.1.1.1. By Value and Volume
7.4.1.2. Market Share & Forecast
7.4.1.2.1. By Type
7.4.1.2.2. By Battery Capacity
7.4.1.2.3. By Transmission Type
7.4.2. Canada Electric Racing Car Market Outlook
7.4.2.1. Market Size & Forecast
7.4.2.1.1. By Value and Volume
7.4.2.2. Market Share & Forecast
7.4.2.2.1. By Type
7.4.2.2.2. By Battery Capacity
7.4.2.2.3. By Transmission Type
7.4.3. Mexico Electric Racing Car Market Outlook
7.4.3.1. Market Size & Forecast
7.4.3.1.1. By Value and Volume
7.4.3.2. Market Share & Forecast
7.4.3.2.1. By Type
7.4.3.2.2. By Battery Capacity
7.4.3.2.3. By Transmission Type
8. Asia Pacific Electric Racing Car Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value and Volume
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Battery Capacity
8.2.3. By Transmission Type
8.2.4. By Country (China, India, Japan, Malaysia, Thailand, Indonesia, Vietnam, South Korea)
8.2.5. Product Market Map (By Battery Capacity, by Country)
8.3. Asia Pacific: Country Analysis
8.3.1. China Electric Racing Car Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value and Volume
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Type
8.3.1.2.2. By Battery Capacity
8.3.1.2.3. By Transmission Type
8.3.2. India Electric Racing Car Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value and Volume
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Type
8.3.2.2.2. By Battery Capacity
8.3.2.2.3. By Transmission Type
8.3.3. Japan Electric Racing Car Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value and Volume
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Type
8.3.3.2.2. By Battery Capacity
8.3.3.2.3. By Transmission Type
8.3.4. Malaysia Electric Racing Car Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value and Volume
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Type
8.3.4.2.2. By Battery Capacity
8.3.4.2.3. By Transmission Type
8.3.5. Thailand Electric Racing Car Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value and Volume
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Type
8.3.5.2.2. By Battery Capacity
8.3.5.2.3. By Transmission Type
8.3.6. Indonesia Electric Racing Car Market Outlook
8.3.6.1. Market Size & Forecast
8.3.6.1.1. By Value and Volume
8.3.6.2. Market Share & Forecast
8.3.6.2.1. By Type
8.3.6.2.2. By Battery Capacity
8.3.6.2.3. By Transmission Type
8.3.7. Vietnam Electric Racing Car Market Outlook
8.3.7.1. Market Size & Forecast
8.3.7.1.1. By Value and Volume
8.3.7.2. Market Share & Forecast
8.3.7.2.1. By Type
8.3.7.2.2. By Battery Capacity
8.3.7.2.3. By Transmission Type
8.3.8. South Korea Electric Racing Car Market Outlook
8.3.8.1. Market Size & Forecast
8.3.8.1.1. By Value and Volume
8.3.8.2. Market Share & Forecast
8.3.8.2.1. By Type
8.3.8.2.2. By Battery Capacity
8.3.8.2.3. By Transmission Type
9. Europe & CIS Electric Racing Car Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value and Volume
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By Battery Capacity
9.2.3. By Transmission Type
9.2.4. By Country (Germany, France, United Kingdom, Spain, Italy, Belgium, Russia)
9.3. Product Market Map (By Battery Capacity, by Country)
9.4. Europe & CIS: Country Analysis
9.4.1. Germany Electric Racing Car Market Outlook
9.4.1.1. Market Size & Forecast
9.4.1.1.1. By Value and Volume
9.4.1.2. Market Share & Forecast
9.4.1.2.1. By Type
9.4.1.2.2. By Battery Capacity
9.4.1.2.3. By Transmission Type
9.4.2. France Electric Racing Car Market Outlook
9.4.2.1. Market Size & Forecast
9.4.2.1.1. By Value and Volume
9.4.2.2. Market Share & Forecast
9.4.2.2.1. By Type
9.4.2.2.2. By Battery Capacity
9.4.2.2.3. By Transmission Type
9.4.3. United Kingdom Electric Racing Car Market Outlook
9.4.3.1. Market Size & Forecast
9.4.3.1.1. By Value and Volume
9.4.3.2. Market Share & Forecast
9.4.3.2.1. By Type
9.4.3.2.2. By Battery Capacity
9.4.3.2.3. By Transmission Type
9.4.4. Spain Electric Racing Car Market Outlook
9.4.4.1. Market Size & Forecast
9.4.4.1.1. By Value and Volume
9.4.4.2. Market Share & Forecast
9.4.4.2.1. By Type
9.4.4.2.2. By Battery Capacity
9.4.4.2.3. By Transmission Type
9.4.5. Italy Electric Racing Car Market Outlook
9.4.5.1. Market Size & Forecast
9.4.5.1.1. By Value and Volume
9.4.5.2. Market Share & Forecast
9.4.5.2.1. By Type
9.4.5.2.2. By Battery Capacity
9.4.5.2.3. By Transmission Type
9.4.6. Belgium Electric Racing Car Market Outlook
9.4.6.1. Market Size & Forecast
9.4.6.1.1. By Value and Volume
9.4.6.2. Market Share & Forecast
9.4.6.2.1. By Type
9.4.6.2.2. By Battery Capacity
9.4.6.2.3. By Transmission Type
9.4.7. Russia Electric Racing Car Market Outlook
9.4.7.1. Market Size & Forecast
9.4.7.1.1. By Value and Volume
9.4.7.2. Market Share & Forecast
9.4.7.2.1. By Type
9.4.7.2.2. By Battery Capacity
9.4.7.2.3. By Transmission Type
10. South America Electric Racing Car Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value and Volume
10.2. Market Share & Forecast
10.2.1. By Type
10.2.2. By Battery Capacity
10.2.3. By Transmission Type
10.2.4. By Country (Brazil, Argentina, Colombia)
10.3. Product Market Map (By Battery Capacity, by Country)
10.4. South America: Country Analysis
10.4.1. Brazil Electric Racing Car Market Outlook
10.4.1.1. Market Size & Forecast
10.4.1.1.1. By Value and Volume
10.4.1.2. Market Share & Forecast
10.4.1.2.1. By Type
10.4.1.2.2. By Battery Capacity
10.4.1.2.3. By Transmission Type
10.4.2. Argentina Electric Racing Car Market Outlook
10.4.2.1. Market Size & Forecast
10.4.2.1.1. By Value and Volume
10.4.2.2. Market Share & Forecast
10.4.2.2.1. By Type
10.4.2.2.2. By Battery Capacity
10.4.2.2.3. By Transmission Type
10.4.3. Colombia Electric Racing Car Market Outlook
10.4.3.1. Market Size & Forecast
10.4.3.1.1. By Value and Volume
10.4.3.2. Market Share & Forecast
10.4.3.2.1. By Type
10.4.3.2.2. By Battery Capacity
10.4.3.2.3. By Transmission Type
11. Middle East and Africa Electric Racing Car Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value and Volume
11.2. Market Share & Forecast
11.2.1. By Type
11.2.2. By Battery Capacity
11.2.3. By Transmission Type
11.2.4. By Country (South Africa, UAE, Saudi Arabia, Egypt)
11.3. Product Market Map (By Battery Capacity, by Country)
11.4. Middle East and Africa: Country Analysis
11.4.1. South Africa Electric Racing Car Market Outlook
11.4.1.1. Market Size & Forecast
11.4.1.1.1. By Value and Volume
11.4.1.2. Market Share & Forecast
11.4.1.2.1. By Type
11.4.1.2.2. By Battery Capacity
11.4.1.2.3. By Transmission Type
11.4.2. UAE Electric Racing Car Market Outlook
11.4.2.1. Market Size & Forecast
11.4.2.1.1. By Value and Volume
11.4.2.2. Market Share & Forecast
11.4.2.2.1. By Type
11.4.2.2.2. By Battery Capacity
11.4.2.2.3. By Transmission Type
11.4.3. Saudi Arabia Electric Racing Car Market Outlook
11.4.3.1. Market Size & Forecast
11.4.3.1.1. By Value and Volume
11.4.3.2. Market Share & Forecast
11.4.3.2.1. By Type
11.4.3.2.2. By Battery Capacity
11.4.3.2.3. By Transmission Type
11.4.4. Egypt Electric Racing Car Market Outlook
11.4.4.1. Market Size & Forecast
11.4.4.1.1. By Value and Volume
11.4.4.2. Market Share & Forecast
11.4.4.2.1. By Type
11.4.4.2.2. By Battery Capacity
11.4.4.2.3. By Transmission Type
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends and Developments
14. Product Benchmarking
15. Competitive Landscape
15.1. Company Profiles
15.1.1. Tesla Inc.
15.1.2. BMW AG
15.1.3. Groupe Renault
15.1.4. Volkswagen Group (Audi)
15.1.5. Jaguar Land Rover
15.1.6. Subaru
15.1.7. S.E.A.T SA (Cupra)
15.1.8. Hyundai
15.1.9. ELMOFO
15.1.10. Faraday&Future Inc.
(Note: The companies list can be customized based on requirements)
16. Strategic Recommendations
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Tesla Inc.
- BMW AG
- Groupe Renault
- Volkswagen Group (Audi)
- Jaguar Land Rover
- Subaru
- S.E.A.T SA (Cupra)
- Hyundai
- ELMOFO
- Faraday&Future Inc.
