North America Motorsport Transmission Market Forecast to 2030 - Regional Analysis - by Racing Type [Formula One, NASCAR, GT Racing, WTCC (World Touring Car Championship) Le Mans, Rally and Off-road, and Others] and Transmission Type (Manual, Automatic, an

North America Motorsport Transmission Market Forecast to 2030 - Regional Analysis - by Racing Type [Formula One, NASCAR, GT Racing, WTCC (World Touring Car Championship) Le Mans, Rally and Off-road, and Others] and Transmission Type (Manual, Automatic, and Sequential)

The North America motorsport transmission market was valued at US$ 79.80 million in 2022 and is expected to reach US$ 113.30 million by 2030; it is estimated to register a CAGR of 4.5% from 2022 to 2030.

Increasing Popularity of Motorsport Events Fuels North America Motorsport Transmission Market

Motorsports viewership has increased dramatically in recent years. Considering the worldwide motorsport events, Formula 1 stands unrivaled in terms of appeal and viewership, with ~1.9 billion viewers in the 2023 season. According to IndyCar numbers, the series averaged 1.403 million viewers per race on NBC, a 2% rise year over year. The doubleheader at Lowa Speedway was especially outstanding, averaging 1.21 million viewers throughout the weekend, a 31% increase year over year. The Indianapolis 500 was one of the season's top draws, with an average of 4.94 million viewers. While this increased over last year's average of 4.84 million viewers, 2023 is one of only four seasons of the race to have received fewer than five million spectators. The Formula One season in the US in 2022 averaged 1.21 million viewers per race on ESPN, ESPN2, and ABC, a 28% increase over the previous US television record of 949,000 average viewers established in 2021. In addition, the 2022 season was the first in US television history to average 1 million viewers each race.

In terms of television viewership, the US ranks at third position. With rising popularity and more home events on the calendar, the US is likely to break into the top five in the future years. Most other countries witnessing rapid growth in viewing are already listed among the top five in the world. Such increased popularity for motorsport has positively affected the number of events. As a result, several new small-scale motorsport events have emerged that have directly and positively impacted the demand for motorsport transmission.

Such increased popularity for motorsport has positively affected the number of events. As a result, several new small-scale motorsport events have emerged that have directly and positively impacted the demand for motorsport transmission.

North America Motorsport Transmission Market Overview

The North American region has secured the second position in the global motorsport transmission market. Formula One has the highest popularity in North America, whereas NASCAR has now become the second most popular motorsport in the region. The US market held the maximum share owing to the strong presence of automotive manufacturers and deep-rooted passion for motorsports. Companies such as Xtrac and G-Force Racing Transmissions are prominent in producing high-performance transmissions for various motorsport disciplines. The US market is driven by a strong motorsport culture, and with high demand for NASCAR, IndyCar, drag racing, and off-road racing. Canada is following the trend after the US in terms of total revenue. The country hosts a round of the Formula 1 championship, drawing global attention.

North America Motorsport transmission Market Revenue and Forecast to 2030 (US$ Million)

North America Motorsport Transmission Market Segmentation

The North America motorsport transmission market is categorized into racing type, transmission type, and country.

Based on race type, the North America motorsport transmission market is segmented into formula one, NASCAR, GT racing, WTCC (world touring car championship), le mans, rally and off-road, and others. The formula one segment held the largest market share in 2022.

In terms of transmission type, the North America motorsport transmission market is categorized into manual, automatic, and sequential. The sequential segment held the largest market share in 2022.

By country, the North America motorsport transmission market is segmented into the US, Canada, and Mexico. The US dominated the North America motorsport transmission market share in 2022.

Marelli Holdings Co Ltd, Ricardo Plc, EMCO Gears Inc, ZF Friedrichshafen AG, SADEV SAS, Holinger Engineering Co Pty Ltd, and Xtrac Ltd are some of the leading companies operating in the North America motorsport transmission market.

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