Hypercars Gradually Penetrate with Superior Aerodynamics and Ultra-light Weight
Automotive industry has been consistently upbeat towards new technologies and inception of innovative concepts. It has been aggressively marching towards the era wherein environment sustainability, passenger safety & comfort and high performance have been of paramount importance. Hypercar is one of the recent and most innovative high-performance, advanced and superior cars that the industry has seen. Cars equipped with the most supreme technologies, safety, uniqueness, and feature-rich distinct performance enhancements fall under the category of hypercar. Such cars are especially recognised for their excellent aerodynamic abilities and ultra-lightweight, which are particularly garnering the interest of industry participants.
Currently, though hypercars represent a mere 1% of the global automotive industry, their excellent engineering and innovative design aspects have been epitomizing the top tiers of supercars recently. This will be the strongest factor that would drive the growth of hypercar market at a global level in the near future.
Electrified Powertrain and High-performance Engines Uplift Prospects of Hypercar Market
Development and integration of high-performing engine technologies and advanced safety systems with superior aerodynamics into automobiles has been imperative for automakers to achieve a competitive edge. As a result, they have been constantly investing in R&D around hypercars. The blend of hybrid and electrified powertrain technologies with internal combustion engine (ICE) automobiles will more likely bring about the incorporation of efficient electric powertrains in the hypercars too in the foreseeable future.
Wealthy Consumer Class to Uphold Sales Potential of Hypercars
A notable price drop announced by leading OEMs has been one of the foremost factors propelling demand for hypercars in the recent past. This in turn has provided an opportunity to automakers to appeal window-shoppers as well as genuine in-market buyers, which are ready to splash out on these high-priced cars. The economic slowdown due to COVID-19 pandemic has caused a delay in consumers shelling money on luxury lifestyle items. However, this being a temporary outcome, is most likely to change in the near future as the world strives to revive from the crisis-driven shock. The consistently expanding premium consumer class would show reinclination towards paying a premium for novel lifestyle products, including hypercars. This consumer proclivity for luxury car brands will further be supported by discounted pricing offered by OEMs and automakers.
Europe Highly Lucrative, Likely to Become Global Hypercar Manufacturing Hub
European countries, including the UK, Italy, and Germany currently lead the hypercar production scenes. Some of the key players belonging to this region are Europe’s leading manufacturers of hypercar. A few start-ups in North America are also constantly exploring different technologies and hydrogen-based hypercars, of which a Californian start-up Hyperion has recently launched an indigenously developed XP-1 with a high-performance powertrain system, and supports 100% zero emission. It has been introduced by National Aeronautics and Space Administration, USA (NASA).
Industry players are significantly investing into building electric and hybrid hypercars – seemingly one of the trendsetters in foreseeable future. The industry is consistently expanding, with a rush of various hypercars following substantial R&D, coupled with the rising demand across emerging nations. Asian countries are likely to provide a fertile ground for the hypercar market to thrive in the near future.
Competition to Heat up as Companies Look to Invest in Strategic Corroboration and Tech Innovation
The competition in global hypercar market is likely to be intensified in the near future as the market landscape witnesses growing fragmentation. Key players in market are thus relying on traditional organic and inorganic business expansion strategies in addition to new product developments and launches, electrification of powertrains, ultra-lightweight material usage in manufacturing, and pricing strategies. Companies are particularly focusing on pricing, M&A, and joint ventures in an effort to penetrate new emerging countries. Leading automakers are likely to embrace strategic partnerships with an aim to acquire technology expertise and achieve geographic expansion.
Bugatti Automobiles S.A.S., Mazzanti Automobili, Porsche, Ultima Sports Ltd., Zenvo Automotive, Hennessey Performance, Rimac, Koenigsegg Automotive AB, Ferrari S.p.A., Pagani Automobili S.p.A., Lagonda Global Holdings plc, Automobili Lamborghini S.p.A., McLaren Group Companies, Aston Martin, Daimler AG, and Ferrari NV are some of the major manufacturers active in global hypercar market. The spurring growth momentum is likely to provide a wave of growth opportunities to players in hypercar market. However, high capital investments associated with manufacturing and vehicle ownership will continue to challenge the demand and sales dynamics for key market participants.
Some of the Recent Notable Developments in Hypercar Landscape
Mclaren’s BP23 with hybrid powertrain is soon expected to be launched that has been claimed to succeed the legendary McLaren F1. Mclaren also extended its arm in Eastern Europe by opening a new showroom in Rica, one of the largest cities in Baltic States. Rica is one of the business centres for Estonia, Lithuania, and the Baltic State region.
Earlier in 2017, Mercedes-AMG begun with F1-engined Project One in a conceptual form. It was expected to deliver some of its hypercar models under the nameplate Mercedes-AMG GT Black Series, which has been facing a delay since then owing to emission regulatory norms. The scenario is further aggravated by the global slowdown amid COVID-19 pandemic.
Bugatti Divo, a one of its kind hypercar, was also seen in the states that was revealed two years ago in the Monterey Car Week. This car is lighter than Chiron, with a W16 quad turbo engine and will have only 40 units under its production plan.
Key Elements Included In The Study: Global Hypercar Market
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