Motorsports

Motorsports

Global Motorsports Market to Reach US$9.9 Billion by 2030

The global market for Motorsports estimated at US$6.3 Billion in the year 2023, is expected to reach US$9.9 Billion by 2030, growing at a CAGR of 6.8% over the analysis period 2023-2030. Motorsports Broadcasting, one of the segments analyzed in the report, is expected to record a 7.4% CAGR and reach US$3.9 Billion by the end of the analysis period. Growth in the Motorsports Ticketing segment is estimated at 6.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.9 Billion While China is Forecast to Grow at 10.0% CAGR

The Motorsports market in the U.S. is estimated at US$1.9 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$624.0 Million by the year 2030 trailing a CAGR of 10.0% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 5.4% and 6.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.1% CAGR.

Global Motorsports Market - Key Trends & Drivers Summarized

Motorsports, encompassing a wide range of competitive automotive racing events, is a thrilling and highly popular global phenomenon. The most prominent motorsports include Formula 1, NASCAR, MotoGP, and rally racing, each with its distinct set of rules, vehicles, and fan base. Formula 1, known for its high-speed, precision engineering, and global circuit, is the pinnacle of single-seater racing, attracting millions of viewers worldwide. NASCAR, primarily popular in the United States, features stock car racing on oval tracks, emphasizing endurance and strategic pit stops. MotoGP is the premier class of motorcycle road racing events held on road circuits, showcasing the skills of the world`s best motorcyclists. Rally racing, characterized by its challenging terrain and diverse environments, tests the versatility and endurance of both drivers and vehicles across different stages.

Technological advancements play a crucial role in the evolution and excitement of motorsports. Innovations in vehicle design, aerodynamics, and materials have led to faster, safer, and more efficient racing machines. The integration of advanced telemetry systems allows teams to collect and analyze real-time data on vehicle performance, helping to fine-tune setups and strategies during races. Electric and hybrid technologies are also making their mark, with series like Formula E promoting sustainable racing by using fully electric vehicles. These advancements not only enhance the competitiveness of the sport but also drive the development of technologies that often find applications in consumer vehicles. Safety innovations, such as the HANS device and improved crash barriers, have significantly reduced the risk of severe injuries, making the sport safer for drivers and spectators alike.

The growth in the motorsports market is driven by several factors, reflecting the sport`s evolving dynamics and increasing global appeal. One significant driver is the rising popularity of motorsports in emerging markets, where increasing disposable incomes and growing interest in automotive culture are expanding the fan base. The proliferation of digital and social media platforms has transformed how fans engage with the sport, providing real-time updates, interactive content, and broader access to live events, thereby boosting viewership and sponsorship opportunities. Technological advancements in vehicle design and race management also contribute to market growth, enhancing the competitiveness and appeal of motorsports. The push towards sustainability and environmental responsibility is driving the adoption of electric and hybrid technologies, attracting a new demographic of environmentally conscious fans and stakeholders. Furthermore, the expansion of motorsport events and the introduction of new racing series cater to diverse audiences, ensuring the sport`s continued growth and evolution in the global market.

Select Competitors (Total 107 Featured) -

• ABT Sportsline GmbH
• AF Corse Srl
• Andretti Autosport Holding Company, LLC
• BMW M GmbH
• Hendrick Motorsports LLC
• Liberty Media Corp.
• Mercedes-AMG GmbH
• Red Bull GmbH
• Speedway Motorsports LLC
• Toyota Motor Corp.

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