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The motorsport transmission market size is forecast to increase by USD 77.91 million, at a CAGR of 3.33% between 2023 and 2028. The market size. The market growth analysis depends on several factors such as the significant investments by sponsors, regulation on common transmission models expected to reduce manufacturing costs, and the social media driving enthusiasm.
The report includes a comprehensive outlook on the Market, offering forecasts for the industry segmented by Type, which comprises H-gearbox, and sequential gearbox. Additionally, it categorizes Applications into F1, NASCAR, and GT racing and others, and covers Regions, including Europe, North America, APAC, South America, and Middle East and Africa. The market report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Social media driving enthusiasm is the key factor driving market growth. Nowadays, individuals have more knowledge about automobiles and are attracted to premium sports brands, such as Ferrari S.p.A. and Mercedes-Benz. Particularly, youth are found to be more brand-conscious. Even in niche markets, such as India, it has been witnessed that individuals are enthusiastic about attending auto expos. Social media such as Instagram following established motorsport brands provides proof of the ever-expanding fan base.
Motor Racing Telematics (MRT) plays a crucial role in this landscape. For instance, in 2022, Mercedes-AMG Petronas had more than 12.2 million followers, while Scuderia Ferrari had more than 12.8 million followers on Instagram. The constant updates and news regarding vehicles and racing events on social media and networking platforms increase the brand reach and the number of individuals willing to witness such events. Thus, MRT enhances engagement and positively impacts the market's growth during the forecast period.
The use of big data analytics is the primary trend shaping market growth. Aligning with market trends and analysis, big data analytics plays an integral role in deciding the winner and loser of the race. To win a race, timing data must be accurate and delivered on time. Timely delivery is crucial as it will assist the driver and the team in making important decisions. Race day analytics helps analyze shortcomings and provides a scope to fix mistakes in the future.
Furthermore, advanced analytics uses both structured and unstructured data to find trends. These trends may be related to individual teams as well as the overall race. Racing clutches, essential for optimizing performance and managing power delivery, benefit significantly from such data insights. Apart from collecting data, skilled personnel are required to maintain logical consistency between data sets and results. Thus, such factors will positively impact the growth of the market during the forecast period.
The high cost of motorsport transmission is a challenge that affects market growth. The cost of a motorsport vehicle, like a racing car, is very high. For instance, on average, a race team costs around USD 1.4 million per year, including the cost of car replacement, out of which 28% to 30% of the total amount is spent on the car. From the total cost of replacement of a racing car, around 11% of the cost is spent on gearboxes and another 11% on the engine. On average, a typical motorsport transmission can cost about USD 25,000-USD 35,000.
Besides, apart from the vehicle replacement cost, there are additional costs such as vehicle transportation costs, entry costs, fire suits, and other team expenses. Despite the increasing sponsorships, the team involved in motorsport racing events needs to invest a huge sum. This is anticipated to slow down the growth in the number of teams in motorsport racing events. Hence, this scenario is expected to impede market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 10 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The H-gearbox segment is estimated to witness significant growth during the forecast period. H-pattern gearbox refers to a manual transmission with a distinctive gear pattern resembling the letter 'H'. It is commonly used in motorsports and allows drivers to manually shift gears in a sequential manner for precise control over the vehicle's speed and performance. Additionally, the versatility of H-gearboxes is a notable factor in their growth. These transmissions cater to a diverse range of motorsport categories, from rally racing to classic car events.
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The H-gearbox segment was the largest segment and was valued at USD 211.86 million in 2018. The aftermarket appeal of H-gearboxes contributes to their growth. Enthusiasts and amateur racers often prefer these gearboxes due to their availability in the aftermarket and ease of maintenance. In addition, the growth of H-gearboxes in the global market can be attributed to the combination of precision, tradition, regulatory alignment, versatility, aftermarket appeal, and the technical challenges they offer, making them a preferred choice in certain racing contexts. These factors will drive the growth of the H-gearboxes segment of the global market during the forecast period.
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Europe is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during this time. Europe's market thrives with major automotive giants like McLaren, Lamborghini, Porsche, and Ferrari. The region boasts the world's premier racing tracks, including Monza, Silverstone, and Zandvoort, hosting numerous events. While F1 remains dominant, viewership faces challenges, attributed partly to policy changes like paid TV. However, the sport's rich history and engaging content initiatives by Liberty Media hint at a promising future. The European market benefits from steadfast fan support and the allure of iconic racing venues, driving market growth in this region during the forecast period. Transmission oil pumps, critical for maintaining optimal performance and reliability in high-performance vehicles, play a crucial role in the European market's dynamics. These components ensure efficient power transmission, enhancing vehicle agility and durability on demanding tracks.
The market analysis and report forecasts market growth and forecasting by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends from 2018 to 2028.
Motorsport Transmission Market Scope |
|
Report Coverage |
Details |
Page number |
156 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.33% |
Market growth 2024-2028 |
USD 77.91 million |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
3.17 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 43% |
Key countries |
US, Australia, Germany, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Beagle Engineering Ltd., Hewland Engineering Ltd., Holinger, Motor Sport Transmissions, Ricardo Plc, RT Quaife Engineering Ltd., SADEV, Tractive AB, Xtrac Ltd., and ZF Friedrichshafen AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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