Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Motorsport Market Size is Expected to Grow from USD 6.90 Billion in 2023 to USD 16.73 Billion by 2033, Growing at a CAGR of 9.26 % during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Motorsport Market Size, Share, and COVID-19 Impact Analysis, By Racing Series (Formula One, MotoGP, NASCAR, GT, Off-Road, Touring Car, Stock Car), By Revenue Channel (Advertising and Sponsorship, Broadcasting, Ticketing, Merchandising, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033
The global motorsport market is attributed to businesses that assist the automotive industry by organizing events where motorsport encompasses motorized vehicle racing that displays craftsmanship, expertise, and acceleration. Formula 1, NASCAR, and MotoGP are examples of such sports. The market for motorsports is anticipated to grow due to increasing interest in and investments in sporting events worldwide. Further, the race schedule indicates more events as well as more economic benefits for host towns and nations, which changes overall industry revenues. Moreover, the growth of the motorsport sector has significantly changed due to the involvement of governments. Beyond that, generating jobs and drawing in foreign visitors, infrastructure investments, like those made in racetracks and related amenities, strengthen local economies and boost market growth. However, the market growth has slowed down due to high expenses with periodic upkeep.
The formula one segment held the highest share of the global motorsport market in 2023 and is projected to grow at a substantial CAGR over the forecast period.
On the basis of the racing series, the global motorsport market is divided into formula one, MotoGP, NASCAR, GT, off-road, touring car, and stock car. Among these, the formula one segment held the highest share of the global motorsport market in 2023 and is projected to grow at a substantial CAGR over the forecast period. This segment growth is driven by sophisticated technology integration, a worldwide fan base, and rich sponsorship agreements, all of which increase its profitable revenues generated.
The advertising and sponsorship segment dominated the global motorsport market in 2023 and is expected to grow at a notable CAGR over the forecast period.
On the basis of the revenue channel, the global motorsport market is classified into advertising and sponsorship, broadcasting, ticketing, merchandising, and others. Among these, the advertising and sponsorship segment dominated the global motorsport market in 2023 and is expected to grow at a notable CAGR over the forecast period. This dominance is growing due to the consumption of companies in motorsport-related advertisements and the growing influence of digital media and social media in engaging audiences across the world.
Europe is anticipated to hold the greatest share of the global motorsport market over the forecast period.
Europe is projected to hold the greatest share of the global motorsport market over the forecast period. The regional market growth is driven by the regional historical and cultural racing events, including legendary championships like Formula 1, MotoGP, and Le Mans, that attract crowds and significant financial support. Further, a robust base of motorsport manufacturers, sponsors, and a well-established infrastructure for racing events boost the market expansion.
North America is predicted to grow at the fastest CAGR of the global motorsport market over the forecast period. The regional market growth is accelerated by a growing audience in both the US and Canada, as well as the growing popularity of NASCAR, IndyCar, and other off-road races. Further, motorsport-related activities have also grown as a result of thriving automobile industry and more sponsorship options.
Company Profiling
Major vendors in the global motorsport market are Citroen Australia, Joe Gibbs Racing, Mercedes-Benz, Hendrick Motorsports, LLC, McLaren Group, Aston Martin Red Bull Racing, Team Penske, Roush Fenway Racing, Ferrari S.p.A., Toyota Motor Corporation, and others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global motorsport market based on the below-mentioned segments:
Global Motorsport Market, By Racing Series
Global Motorsport Market, By Revenue Channel
Global Motorsport Market, By Regional
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