Motorsports Market is Estimated to Hit $6.87 Billion by 2023.

According to the new market research report by IndustryARC titled “Motorsports Market: By Channels (Broadcasting Revenue In Motorsports Market, Ticketing Revenue In Motorsports Market and Others) and By Geography (Americas, APAC and Europe) – Forecast (2018-2023) ”, the market is driven by growing demand for variety of Motorsports across the world.

The global motorsports market was valued at $4.2 billion in 2017 with revenues accrued from various channels such as sponsorship, advertising, ticketing, merchandising, hosting fees and broadcasting. The market is expected to grow at a healthy CAGR of around 8.43% during 2018 – 2023 to cross $6.87 billion by 2023.

Europe continues to lead the market share during 2018-2023.

Europe is undoubtedly the world leader in the global motorsports market due to the subtle presence of Formula Racing in the region, facilitated by being the first region to host such events followed by the growing support from the high-end car manufacturers, most of which have originated from the European countries. Asia Pacific is the region following Europe in the global motorsports market, facilitated by the large fan base in countries particularly China, Japan, South Korea and Australia.

The total market for Europe Motorsports was estimated to be $1.9 billion in 2017 which is projected to reach $2.96 billion by 2023 with a CAGR of 7.65%. The key reason for such an impressive growth can be attributed to the strong economic recovery signs expected in the region for the coming years. Such a growth creates robust growth avenues for motorsports market. Asia-pacific is projected to register highest growth rate of 10.95% CAGR.

Selected / Sample Analysis done in the full Report:

Total market value of NASCAR and IndyCar was $3.1 billion in 2017; it is estimated to grow at a CAGR of 2.8% to reach $3.8 billion by 2023 in the U.S. The NASCAR racing is forecast to grow at CAGR of 1.90% and reach $3.3 billion by 2023, whereas IndyCar racing is estimated to grow at a CAGR of 6.41% to reach $276 billion by 2023. The ticketing revenue of IndyCar racing series is projected to grow rapidly as compared to NASCAR racing due to the changes in the ticketing and merchandising revenue segments.

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Excerpts on Market Growth Factors Mentioned in the Full Report:

  1. The market is driven by the increase in the number of races, advertisements and sponsorships, the revenue in the racing business will likely to surge.

  2. In the recent times, the concept of Electric Vehicles (EV) has caught up rapidly with manufacturers aiming at providing cars running on batteries employing electric motors to propel them. This factor is also driving significant growth for the Motorsports market.

  3. Growing interest of fans in collecting the sports memorabilia has also propelled the market’s growth.

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Key Players of the Motorsports Market:

The major innovations are from the key players in the industry such as Ferrari, Mercedes, McLaren and Red Bull owing to availability of significant amount of funds for R&D activities and a dedicated infrastructure for these operations. Major product launches included Ferrari’s F14T for 2014 F1 racing championship; Mercedes-Benz’s Mercedes AMGF1, its newest addition to its Formula One cars; Red Bull’s RB10 Formula 1 car for its fifth consecutive Formula 1 championship double, etc.

Motorsports Market Report is Segmented as below.

  • Motorsports Market By Channels:

  1. Broadcasting Revenue In Motorsports Market

    1. Americas

  2. U.S.: Nascar & Indycar Broadcasting Revenue

    1. Nascar Racing-Broadcasting Developments

    2. Indycar Racing – Broadcasting Developments

    3. Europe

    4. Asia-Pacific

  3. Ticketing Revenue In Motorsports Market

    1. Americas

  4. U.S.: Nascar & Indycar Ticketing Revenue

    1. Nascar ticketing-Key Facts

    2. Indycar Racing Ticketing Key Facts

    3. Europe

    4. APAC

  5. Mercandising Revenue In Motorsports Market

    1. Americas

  6. U.S.: Nascar and Indycar Merchandising Revenue

    1. Nascar- Merchandise Key Facts

    2. Indycar-Merchandise Key Facts

    3. Europe

    4. Asia-Pacific

  7. Advertising/Sponsorship Revenue In Motorsports Market

    1. Americas

  8. Advertising/Sponsorship

    1. Nascar Racing-Advertising & Sponsorships Key Facts

    2. Indycar: Advertising & Sponsorships Key Facts

    3. Europe

    4. United Kingdom

    5. France

    6. Germany

    7. Others

      1. Trends

    8. APAC

      1. China

      2. Japan

  9. Race Hosting Fees Revenue In Motorsports Market

    1. Americas

  10. U.S.: Nascar and Indycar Race Hosting Fees

    1. Europe

    2. APAC

  • Motorsports Market By Geography ( Covers 14+ Countries )

  • Motorsports Market Entropy

  • Companies Citied / Interviewed

  1. Bridgestone Corporation

  2. Caterham Cars

  3. Comma Oil And Chemicals Ltd- Cosan S.A Industria E Comercio

  4. Computacenter

  5. Computacenter

  6. Federation Internatonale De L’automobile(Fia)

  7. Force India

  8. Goodyear

  9. Lotus F1

  10. Michelin Tyres Plc.

  11. Motorsport Network

  12. Mrf Limited

  13. Pirelli

  14. Sauber

  15. Toro Rosso

  16. Williams

  17. Yokohoma

  18. Company 18+

Related Report:

  1. Advanced Driver Assistance Systems Market

  1. Driver Monitoring Systems Market

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