The Hypercar Market Will Reach $224.5 Billion by 2031

10 mins

Despite the hypercar industry being valued at $15.2 billion in 2021, a new report estimates ...

Despite the hypercar industry being valued at $15.2 billion in 2021, a new report estimates that it will reach $224.5 billion by 2031. This is according to a report by Allied Market Research, entitled Hypercar Market, and means that the industry’s CAGR will grow by 31.1% between 2022 and 2031. It’s thought that Europe will dominate the market, with the UK, Germany and Italy being key producers.

Back in July 2022, Red Bull launched its very first in-house hypercar. Called RB17, the hypercar is valued at $5.62 million. In 2025, Red Bull’s Advanced Technologies team is planning to launch its own version, a $5.62 million hypercar. This will be a limited edition RB17 with two seats, and it will be built at the Red Bull factory in Milton Keynes. The team will be producing 50 cars for civilian use, rather than focusing on Formula 1 racing and professional use.

There is also currently a large focus on electric hypercars, with several companies launching new models recently. In March 2019, Automobili Pininfarina showcased Battista at Geneva Motor Car, which boasts 1900 Bhp and a toque of 2300 nm. It can also accelerate to 62 mph in under two seconds, which is an acceleration faster than what a Formula 1 car is capable of.

The launch of new electric hypercars shows how much the market is growing. This is largely due to the growing demand for luxurious and comfortable driving experiences. However, further growth is being hindered by the cost of hypercars, which is out of budget for the majority of people.

The Impact of COVID-19 on the Hypercar Market

The COVID-19 pandemic had a huge impact on the hypercar market, especially as far as supply chain disruptions were concerned. The pandemic led to low sales of passenger cars, and a lot of vehicles had production paused worldwide. This resulted in a 16% decline in global automotive production in 2022, compared to 2019.

Plus, the global sales of automotives dropped by 14% to 77.97 million units in 2020, from 90.42 million in 2019. The COVID-19 pandemic also resulted in hypercar manufacturers pausing the production of new hypercars, such as the Chiron, which Bugatti had planned to launch in 2020.

Since the pandemic, there has been growth in the electric and hybrid hypercar markt. This includes the launch of Toyota’s GR010 hybrid Le Mans hypercar in 2021.


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