Electric Supercars Market by Type and Geography - Global Forecast and Analysis 2019-2023

The global electric supercars market size will grow by 6,890 units during 2019-2023. This market report provides a detailed analysis of the market by type (BEV and PHEV) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on many electric supercar manufacturers, including BMW AG, Ferrari Spa, Koenigsegg Automotive AB, Tesla Inc., and Volkswagen AG.

Key Insights on Electric Supercars Market - Global Forecast 2019-2023

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Industry Overview

The growing environmental concerns have prompted governments across the world to reduce their dependence on fossil fuels by promoting the development of EVs. Many European countries have already set targets to achieve environmental sustainability. For instance, the Norwegian Government has set the target to shift to pure electric vehicles by 2025. Similarly, other European countries such as the Netherlands, the UK, France, and Germany have also made plans to shift to all-electric vehicles by 2050. In addition, the growing stringency on the permissible limit of CO₂ is fueling the adoption of electric cars in Europe. Developing countries such as India and China are encouraging the adoption of EVs through various initiatives. The Indian Government launched the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) under the National Electric Mobility Mission Plan (NEMMP) 2020 to encourage the adoption of EVs in the country. The introduction of new emission norms in China has boosted the growth of the EV industry. The country offers parking fee incentives, road access incentives, purchase subsidies, and charging fee incentives to encourage the adoption of EVs. The presence of such favorable government regulations across the world is one of the key factors driving global electric supercars market growth.

Major electric supercars market trends such as the rising focus on the development of pure electric supercars is also one of the key factors influencing market growth. Stringent regulations by governments such as mandating the WLTP testing procedure have influenced the development of all-electric supercars. This is driving car manufacturers to focus on developing high-performance cars with zero emissions. Automobile manufacturers are making the use of lightweight materials such as carbon fiber for the body and chassis and adopting dynamic concepts in the design. Last year, Volkswagen announced the launch of its all-electric supercar, I.D R Pikes Peak. The car is capable of achieving speeds greater than Formula 1 and Formula E cars. Many such advancements among car manufacturers will fuel the growth of the global electric supercars market size at a CAGR of nearly 39% during 2019-2023.

Top Companies in Electric supercars Market

This global market is fragmented. To help clients improve their market positions, this electric supercars market forecast report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. This electric supercars market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

The report offers a detailed analysis of several leading electric supercars manufacturers, including:

• BMW AG
• Ferrari Spa
• Koenigsegg Automotive AB
• Tesla Inc.
• Volkswagen AG

Market Segmentation

Electric Supercars Market by Type

• BEV
• PHEV

The BEV segment held the largest market share in 2018. It will account for the highest electric supercars market share over the forecast period. The BEVs offer a wide range of features such as vehicle diagnostic capabilities, advanced battery management systems, and autonomous driving technologies. Many market vendors are entering into partnerships to develop electric supercars and advanced battery technologies. Certain vendors are developing solid-state battery technologies with improved fast charging capabilities and higher energy densities compared to lithium-ion batteries. These factors are influencing the growth of the segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the electric supercars market size.

Electric Supercars Market by Region

• APAC
• Europe
• MEA
• North America
• South America

With a complete study of the growth opportunities for companies, it has been identified that North America will account for the highest share of the electric supercars market throughout the forecast period. Factors such as the rising number of racing events in the US and the increasing investments by leading automakers in Li-ion battery technology for supercar models is significantly contributing to the market’s growth in the region. Additionally, the presence of stringent government regulations related to vehicle electrification is driving the electric supercars market growth in North America.

Major Highlights of the Electric Supercars Market - Global Forecast 2019-2023

• CAGR of the market during the forecast period 2019-2023
• Detailed information on factors that will accelerate the growth of the electric supercars market during the next five years
• Precise estimation of the global electric supercars market size and its contribution to the parent market
• Accurate electric supercars market forecast on upcoming trends and changes in consumer behavior
• The growth of the electric supercars industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details of factors that will challenge the growth of electric supercar manufacturers