Global Electric Supercars Market 2019-2023 | Development of Pure Electric Supercars to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Oct 11, 2019--
The global electric supercars market is expected to post a CAGR nearly 39% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global electric supercars market 2019-2023. (Graphic: Business Wire)
Governments across the world are encouraging the development of EVs to curb carbon emissions from fossil fuels and thus address environmental concerns. Governments in European countries have already set targets to achieve environmental sustainability. Developing countries such as India and China are coming up with initiatives such as purchase subsidies, parking fee incentives, road access incentives, and charging fee incentives to boost the adoption of hybrid and electric vehicles. This is driving the growth of the EV industry. Consequently, the penetration of high-performance electric cars such as supercars will increase in these nations. Thus, the presence of favorable government regulations and incentives will boost the growth of the electric supercars market during the forecast period.
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As per Technavio, the focus on development of pure electric supercars by manufacturers, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Electric Supercars Market: Focus on the Development of Pure Electric Supercars
The market is witnessing an increase in the production of pure electric supercars due to stringent regulations such as the WLTP testing procedure by governments. As a result, car manufacturers are developing high-performance cars with zero emissions using lightweight materials such as carbon fiber. They are also adopting dynamic concepts in design. All-electric supercar, I.D R Pikes Peak, designed by Volkswagen can achieve speeds greater than Formula 1 and Formula E cars. Thus, with the production of pure electric supercars, the market for electric supercars is expected to showcase a positive outlook during the forecast period.
“Apart from the increasing development of pure electric supercars, the growing use of electric supercars for legal street racing and rising number of partnerships are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Electric Supercars Market: Segmentation Analysis
This market research report segments the global electric supercars market by type (BEV and PHEV) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2018, followed by Europe, APAC, MEA and South America respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market due to the increasing investments by leading automakers in Li-ion battery technology for supercar models.
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Some of the key topics covered in the report include:
Five Forces Analysis
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INDUSTRY KEYWORD: AUTOMOTIVE OTHER TRAVEL SPORTS TRAVEL ALTERNATIVE VEHICLES/FUELS ALTERNATIVE ENERGY ENERGY MOTOR SPORTS AUTOMOTIVE MANUFACTURING MANUFACTURING ENVIRONMENT PERFORMANCE & SPECIAL INTEREST
SOURCE: Technavio Research
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PUB: 10/11/2019 04:00 AM/DISC: 10/11/2019 04:00 AM