Rapid Expansion Projected for Hypercar Market
Hypercar market refers to the business generated by the automotive sales of the vehicles that align with the designing concept of ultralight construction and aerodynamic body, utilizing advanced composite materials, hybrid drives and low-drag designs. These vehicles are as much as five times as fuel efficient, offer superior performance, safety, low center of gravity, and other functional attributes.
Growing inclination towards premium luxury car brands creating a highly conducive environment for growth of the hypercar market
Improving economic conditions and subsequent increasing consumer spending on luxury products creates a highly conducive environment for growth of the hypercar market. In conjunction with these factors, increasing number of manufacturers that include Aston Martin, McLaren and Honda among many other sport car manufacturers are making significant efforts to develop of hypercar and provide high-end automotive to the consumers and establish their strong brand name in the global market.
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Incorporating these cars with enhanced safety features, high performance engines and differentiating their end solutions with distinct performance enhancements systems, is expected to be one of the major trends in the industry. For instance, several expected commercial vehicle launches expected to feature over 1000 hp over the near future, from Mercedes and Aston Martin are expected to feature electric motor assist to add on to their performance quotient. Such advancements are expected to present major growth prospects for the hypercar market through the forecast period.
Intensive competition among the participants is expected drive the innovation and development of next generation hypercar market
In May 2017, Mercedes highlighted the specs about its ongoing AMG Project One. The car is expected to be powered by a 1.6-liter turbocharged Forumla ONE engine and 1000 brake hp, featuring 43% thermal efficiency. Moreover, the entire drivetrain weighs 925 lbs. that powers the eight speed single clutch transmission is expected to cost around US$ 2.9 Mn. Another instance is the 800 bhp Tomhawk, featuring all-electric hypercar. The manufacturer of the automaker claims that the vehicle could reach 60mph in 2.0 seconds with its capability of generation 1.2g lateral force, which will be fastest accelerating car in production. However, as reported to Autocar by spokesman, that these figures were based on simulations.
Major Aston Martin in collaboration with Red Bull Racing are working for Valkyrie and Boreas project developing 1000 bhp cars for Europe market, are among the few major other ongoing projects that are expected to materialize and gain traction over the next few years. This trend is expected to garner significant growth prospects for the hypercar market.
Distinct regulations by government bodies and high initial costs of these vehicles is expected to be among the prominent industry growth challenges
Mclaren’s BP23 expected to be launched in 2018, is expected to be majorly challenged by the Australian Design Rules (ADRs), according to the company’s spokesperson. Similar other regulatory challenges and infrastructural drawbacks are expected to present major growth challenge to the industry growth. Moreover, the price range of these vehicles are all over million dollars due to which these vehicles are expected to remain luxury asset. However, industry participants are increasingly taking initiatives to reduce the overall costs. For instance, next generation Honda NSX, featured to be an all-electric car, has earned the title of ‘poor man’s Porsche 918 Spyder’.
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Industry paradigm shift towards the development and electrification of machines to reduce their environmental impact, boost the progress of efficient hybrid and electric motors for the automobiles will present consistent demands over the forecast period. Key hypercar market participants include Automobili Lamborghini, Bugatti, Ferrari, Daimler Group, Hennessey Performance Engineering (HPE), Koenigsegg, Pagani Automobili, Porsche, Zenvo Automotive, and McLaren.
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