According to the Motorsports Market survey report, the market is expected to witness a relatively higher growth rate during the forecast period 2018-2023.
Pune, India -- (SBWIRE) -- 03/05/2018 -- Motorsports Market set to cross USD +6 Billion by 2022 at a CAGR of +9 % Motorsports are competitive events held globally in which highly optimized and customized motor vehicles for racing competition are used. Various types of motor vehicles are used in these competitions such as cars, bikes, go-karts, boats, trucks and snowmobiles and so on. The most popular of these are cars and are generally involved in races popularly known as auto racing or automobile racing. Auto racing currently is witnessed in different series such as Formula One, Indycar, NASCAR and others. National Association for Stock Car Auto Racing (NASCAR) has gained significant popularity and is one of the top level Sprint Cup Series held twice in a year. For NASCAR, standard conventional cars are used for racing, and races are held on oval tracks, to help clients to layout effective procedures for advancement, our upcoming statistical surveying report on the Global
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As per the report, the demand for Motorsports Market is anticipated to be higher than hybrid power vehicles. Many nations seek to fulfill future energy requirements and minimize emission of pollutants. Thus, electric vehicles are gaining popularity across the globe. Electric vehicles find application in military, civil, and commercial areas. However, the rising number of working people has propelled the market players to develop electric vehicles, thus driving the market.
Some of the leading players functional in the global market: Ferrari, McLaren, Mercedes-Benz, Red Bull Racing, Citroen, Hendrick Motorsports, Joe Gibbs Racing, Lancia Delta, Lotus F1, Roush Fenway Racing, Team Penske, Toyota
Recently, Honda Motors, in a press conference announced that the company will be focusing more on introducing electric vehicles. To add to the product line, Honda has planned to manufacture more automatic electric vehicles to offer easy mobility to the disabled. This has motivated other key players operating in the global Motorsports market to introduce their innovative products. The auto industry has entered a transitional phase where key players are focusing on manufacturing electric vehicles. These are some of the findings of a new report added to the database of QYResearchReports.com.
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At present, the global Motorsports market is one of the emerging markets in the global automotive industry. The global automotive industry is shifting its focus towards eco-friendly vehicles owing to the rising environmental concerns. Thus, a rising number of auto manufacturers are manufacturing electric vehicles in different regions across the globe, including electric vehicles for the disabled.
The global Motorsports market is segmented on the basis of geography, type, and application. Regionally, the global Motorsports market is divided into North America, Europe, and Southeast Asia. Technological advancements and the availability of automobile infrastructure have encouraged manufacturers to introduce new electric vehicles. Companies are investing extensively on research and development activities to develop technologically advanced electric vehicles.
Table of Content:
Chapter 1 Motorsports Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis