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Pulished Date April, 2021
ID: 9317
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Motorsports Market Segmentation by Racing Series (Formula One, MotoGP, NASCAR, GT, Off-Road, and Others); By Revenue Channel (Broadcasting, Ticketing, Sponsorship, Merchandising and Others) - Demand Analysis & Opportunity Outlook 2026

Pulished: April, 2021
ID: 9317
Pages: 140

Motorsports Market Size, Growth, Trends & Forecast (2021 - 2026)

The global market for Motorsport, which was predicted to be worth US$4.8 billion in 2021, is expected to expand to US$7.8 billion by 2026, with a CAGR of 7.2 per cent between 2021 and 2026.

Motorsports are international competitions in which highly tuned and specialised automobiles engage in racing. Cars, bikes, go-karts, boats, trucks, and snowmobiles are among the motor vehicles featured in these competitions. The most well-known of these is known as auto racing or automobile racing, and it involves autos. Formula One, Indycar, GP2, Formula V6 Asia, Formula Nippon, Formula Three, F2, Formula Palmer Audi, Formula Atlantic, and various Formula Racing and other championships are currently promoted.

Motorsports Market Recent Developments

Emma Gilmour, a rally driver from New Zealand, was named McLaren's first female racer on Wednesday, and she will compete in the new electric Extreme E off-road championship next year.

SARTA and Goodyear Tire & Rubber Company, two leaders in future transportation in Northeast Ohio, announced today cooperation to test intelligent tyre sensors and prototype tyres on SARTA's fleet of diesel and zero-emission hydrogen fuel cell-powered (HFC) buses.

For the 2022 season, Pirelli Tire North America has announced the addition of 18-inch tyres to the Trans Am Series TA class. The diameter of the brand-new P Zero Trans Am TA class tyres will increase from 16 to 18 inches. The most visible change is the sidewall reduction, which now resembles low-profile Pirelli tyres, which have long been the preferred choice of the world's most prestigious performance road cars.

Mercedes-Benz has revealed that its vehicles will be equipped with Dolby Atmos, the most cutting-edge technology utilised in modern cinema. For this latest endeavour, it has even teamed up with Dolby Laboratories. The special Mercedes-Maybach automobiles, however, will be the first to include Dolby Atmos, followed by the flagship S-Class and other Mercedes-Benz models.

Motorsports Market Drivers

Broadcast revenue is the primary driver for the motorsport market. The rising popularity of the sport motivates broadcasters around the world to make massive investments to earn the broadcasting rights of motorsport events, therefore, becoming a major source of revenue for people and entities associated with the respective events. Furthermore, participation fee, which includes vehicle testing on tracks, and ticket sales also contribute a huge chunk of revenue for the market. Similarly, sponsorship and merchandising deals add on to the revenue pool as well as leverage the promotion of respective events and the marketing of the participating brands and drivers.

Innovation is a key driver for the motorsport market. Automotive manufacturers are heavily invested in R&D to upgrade their vehicles and gain an advantage in the competition. Such investments create positive economies of scale contributing to the growth of players within the motorsport industry and also other industries like tyre, consumer and commercial vehicles, oil and electric, technology, insurance and others.

Motorsports Market Restraints

Despite its growing popularity, the motorsport industry faces many challenges which hinder the potential market growth. First and foremost, the prevailing cost of investment is large enough to create uncertainty regarding the return on investments among new/potential participants. Additionally, the high cost of production, repair and insurance of motor vehicles induce concerns over profitability in participating firms, hence, restricting further investments. Similarly, the risk of fatality crashes demotivates new drivers to venture into the motor sporting world. Finally, motorsport when compared to other sports like Football does not attract billions of viewers. Even the most popular motorsport- F1 attracts followers from a relatively small niche of people around the world, therefore, the market growth is relatively slower than other sport.

The motorsport industry has been criticized for ignoring air and noise pollution threats. Critics also believe that land and resources spent on racing infrastructure can instead be utilized for commercial and welfare activities which may be beneficial for the society and environment. Albeit, supporters of motorsport believe the industry does more good through employment generation and the nascent environment-friendly EV racing segment. Furthermore, the motorsport industry is also crucial to the development of fuel-efficient vehicles and sustainable engineering and technological innovations.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 – 2026

Base Year

2020

Forecast Period

2021 - 2026

CAGR

7.2%

Segments Covered

By Application, Type and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

  1. Mercedes AMG (Germany)
  2. BMW (Germany)
  3. McLaren (UK)
  4. Williams (UK)
  5. Yamaha (Japan)
  6. Ducati (Japan)
  7. Suzuki (Japan)
  8. Aprilia (Italy)
  9. Pirelli (Italy)
  10. MRF (India)

Motorsports Market Segmentation

Racing Series: The market is segmented into Formula One, MotoGP, NASCAR, GT, Off-Road, and Others. 

Formula One (F1) is the most popular motorsport event in the world and is expected to dominate beyond the forecast period. MotoGP is the second most popular motorsport event and the most popular in the two-wheeler segment. NASCAR is primarily popular in North America and is growing at a medium pace. Formula-E, the electric version of F1, is the fastest growing racing event owing to the potential development of EVs and growing environmental concerns.

Revenue Channel: The market is segmented into Broadcasting, Ticketing, Sponsorship, Merchandising and Others.

Broadcasting channels are the biggest source of revenue for the motorsport market. With the rise in the OTT user base, broadcasters can expand their reach to a wider array of audiences. Therefore, investment in broadcasting rights is expected to bring in revenue worth billions to the motorsport market during the forecast period. Sponsorships are an important avenue to cover up the cost of hosting an event, meanwhile, Ticketing for the live audience is beneficial in generating profits from the events. Merchandizing has become a key factor in maintaining the financial liquidity of the entities associated with motorsport events. The sale of apparel and other merchandise acts as a regular source of income and also promotes fan engagement. F1 merchandise is the fastest-growing segment with second copies the only threat to the market.

Motorsports Market Regional Analysis

Europe is the largest market for the motorsport industry. The presence of leading motor companies is the driving factor in the region. Italy is the leading country in Europe with domination in both motor vehicle and tyre sectors. Germany and UK follow up with leading motor companies participating in motorsport events. France, Monaco, Belgium and Portugal are the top nations with F1-MotoGP hosting infrastructure. The European region is expected to hold 57% of the global motosport market during the forecast period.

North America is the second-largest market for the Motorsport industry. Apart from F1 and MotoGP, NASCAR, Drag Racing, off-road racing, truck racing, and motorcycle stunt riding are prominent motorsport in the US, Canada and Mexico.

The APAC region is the fastest-growing market in terms of broadcasting and viewership. China, India, and South Korea will witness the fastest growth due to the rapid development of the automobile, tyre and motorsport component industry in the region. Australia is the leader in hosting off-road, water, air and dirt bike racing events. Japan is the leading nation in the MotoGP segment, housing the best motorbike companies in the world.

The LAMEA region is led by South American nations. Argentina is the biggest market for F1 and MotoGP while Brazil leads the water motorsport sector. Chile is experiencing significant growth for the F1/MotoGP segment. The UAE is the fastest growing market with huge investments made in the development of F1 and MotoGP tracks. South Africa and other smaller African nations are growing slowly in the water motorsport sector.

Motorsports Market Leader

Ferrari is the biggest brand in the Formula Racing market while Honda leads the MotoGP segment. Michelin is the world leader in manufacturing motorsport tyres.

Motorsports Market Key Players

  1. Mercedes AMG (Germany)
  2. BMW (Germany)
  3. McLaren (UK)
  4. Williams (UK)
  5. Yamaha (Japan)
  6. Ducati (Japan)
  7. Suzuki (Japan)
  8. Aprilia (Italy)
  9. Pirelli (Italy)
  10. MRF (India)

Impact of COVID-19 of Motorsports Market

The global motorsport market suffered immensely due to the spread of COVID-19. Shutting down of manufacturing units in China, Japan, South Korea and India halted the supply of motorsport vehicles and components across the world. Italy, the worst-hit nation in 2020, is still in the recovery phase. The European market has fallen drastically due to the economic collapse of  Italy, which is the market leader in the region. The Motorsport market also witness a significant drop in revenue because of events hosted without live spectators and also due to a drop in merchandise sales.

1. Introduction                         

          1.1 Market Definition               

          1.2 Scope of the report            

          1.3 Study Assumptions            

          1.4 Base Currency, Base Year and Forecast Periods                  

2. Research Methodology                            

          2.1 Analysis Design                 

          2.2 Research Phases                

                    2.2.1 Secondary Research        

                    2.2.2 Primary Research  

                    2.2.3 Data Modelling     

                    2.2.4 Expert Validation  

          2.3 Study Timeline                   

3. Report Overview                             

          3.1 Executive Summary           

          3.2 Key Inferencees                  

4. Market Dynamics                           

          4.1 Impact Analysis                  

                    4.1.1 Drivers        

                    4.1.2 Restaints     

                    4.1.3 Opportunities       

          4.2 Regulatory Environment              

          4.3 Technology Timeline & Recent Trends            

5. Competitor Benchmarking Analysis                            

          5.1 Key Player Benchmarking            

                    5.1.1 Market share analysis     

                    5.1.2 Products/Service   

                    5.1.3 Regional Presence 

          5.2 Mergers & Acquistion Landscape          

          5.3 Joint Ventures & Collaborations            

6. Market Segmentation                    

          6.1 Motorsports Market, By Racing Series             

                    6.1.1 Formula One         

                    6.1.2 MotoGP       

                    6.1.3 NASCAR      

                    6.1.4 GT     

                    6.1.5 Off-Road    

                    6.1.6 Others         

                    6.1.7 Market Size Estimations & Forecasts (2021-2026)

                    6.1.8 Y-o-Y Growth Rate Analysis    

                    6.1.9 Market Attractiveness Index    

          6.2 Motorsports Market, By Revenue Channel                

                    6.2.1 Broadcasting         

                    6.2.2 Ticketing    

                    6.2.3 Sponsorship

                    6.2.4 Merchandising      

                    6.2.5 Others         

                    6.2.6 Market Size Estimations & Forecasts (2021-2026)

                    6.2.7 Y-o-Y Growth Rate Analysis    

                    6.2.8 Market Attractiveness Index    

7. Geographical Landscape                          

          7.1 Global Motorsports Market, by Region           

          7.2 North America - Market Analysis (2021 - 2026)               

                    7.2.1 By Country  

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Racing Series    

                    7.2.3 By Revenue Channel       

          7.3 Europe            

                    7.3.1 By Country  

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Racing Series    

                    7.3.3 By Revenue Channel       

          7.4 Asia Pacific               

                    7.4.1 By Country  

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Racing Series    

                    7.4.3 By Revenue Channel       

          7.5 Latin America           

                    7.5.1 By Country  

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Racing Series    

                    7.5.3 By Revenue Channel       

          7.6 Middle East and Africa                 

                    7.6.1 By Country  

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Racing Series    

                    7.6.3 By Revenue Channel       

8. Key Player Analysis                        

          8.1 Mercedes AMG                   

                    8.1.1 Business Description      

                    8.1.2 Products/Service   

                    8.1.3 Financials    

                    8.1.4 SWOT Analysis      

                    8.1.5 Recent Developments     

                    8.1.6 Analyst Overview  

          8.2 BMW               

          8.3 McLaren         

          8.4 Williams         

          8.5 Yamaha          

          8.6 Ducati            

          8.7 Suzuki            

          8.8 Aprilia            

          8.9 Pirelli              

          8.10 MRF              

9. Market Outlook & Investment Opportunities                        

Appendix                       

          List of Tables                 

          List of Figures                

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of by-product,by technology, by end-user,by region, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Motorsports Market By Region, From 2021-2026 ( USD Billion )
  2. Global Motorsports Market By Racing Series, From 2021-2026 ( USD Billion )
  3. Global Formula One Market By Region, From 2021-2026 ( USD Billion )
  4. Global MotoGP Market By Region, From 2021-2026 ( USD Billion )
  5. Global NASCAR Market By Region, From 2021-2026 ( USD Billion )
  6. Global GT Market By Region, From 2021-2026 ( USD Billion )
  7. Global Off-Road Market By Region, From 2021-2026 ( USD Billion )
  8. Global Others Market By Region, From 2021-2026 ( USD Billion )
  9. Global Motorsports Market By Revenue Channel, From 2021-2026 ( USD Billion )
  10. Global Broadcasting Market By Region, From 2021-2026 ( USD Billion )
  11. Global Ticketing Market By Region, From 2021-2026 ( USD Billion )
  12. Global Sponsorship Market By Region, From 2021-2026 ( USD Billion )
  13. Global Merchandising Market By Region, From 2021-2026 ( USD Billion )
  14. Global Others Market By Region, From 2021-2026 ( USD Billion )

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