Report : Europe Motorsport Transmission Market Forecast to 2030 - Regional Analysis - by Racing Type [Formula One, NASCAR, GT Racing, WTCC (World Touring Car Championship), Le Mans, Rally and Off-road, and Others] and Transmission Type (Manual, Automatic, and Sequential)
At 5.4% CAGR, Europe Motorsport Transmission Market is Projected to be Worth US$ 220.79 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Europe motorsport transmission market was valued at US$ 145.51 million in 2022 and is expected to reach US$ 220.79 million by 2030, registering a CAGR of 5.4% from 2022 to 2030. Integration With Hybrid Powertrains and new race car launches and addition of new teams are among the critical factors attributed to drive the Europe motorsport transmission market growth.
As hybrid powertrains gain traction in motorsport, transmission systems play a crucial role in optimizing their performance. This highlights the opportunity to develop transmission systems that seamlessly integrate with hybrid propulsion setup, maximizing energy recovery and power delivery for enhanced on-track performance.
Hybrid powertrains combine internal combustion engines with electric motors, utilizing both traditional fuel and electric energy sources. The transmission system in hybrid vehicles must efficiently manage power flow between these components, ensuring seamless transitions between electric and combustion modes while maximizing overall system efficiency.
On the contrary, increasing adoption of electric vehicles in motorsport hampers the growth of Europe motorsport transmission market.
Based on racing type, the Europe motorsport transmission market is segmented into formula one, NASCAR, GT racing, WTCC (world touring car championship), le mans, rally and off-road, and others. The formula one segment held 42.5% market share in 2022, amassing US$ 61.91 million. It is projected to garner US$ 92.53 million by 2030 to register 5.2% CAGR during 2022-2030.
In terms of transmission type, the Europe motorsport transmission market is segmented into manual, automatic, and sequential. The sequential segment held 63.1% share of Europe motorsport transmission market in 2022, amassing US$ 91.76 million. It is anticipated to garner US$ 143.72 million by 2030 to expand at 5.8% CAGR during 2022-2030.
Based on country, the Europe motorsport transmission market is categorized into France, Germany, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that the UK captured 26.7% share of Europe motorsport transmission market in 2022. It was assessed at US$ 38.91 million in 2022 and is likely to hit US$ 63.81 million by 2030, registering a CAGR of 6.4% during 2022-2030.
Key players operating in the Europe motorsport transmission market are Marelli Holdings Co Ltd, Ricardo Plc, Drenth Gearboxes Holland BV, Samsonas Motorsport UAB, Hewland Engineering Ltd, ZF Friedrichshafen AG, SADEV SAS, Holinger Engineering Co Pty Ltd, and Xtrac Ltd, among others.
- In May 2023, Ricardo announced a multi-year partnership with British supercar manufacturer McLaren Automotive to produce its next-generation V8 power unit. This is the third extension and fourth generation of the two firms' engine supply deal. Ricardo designed the V6 and V8 engines that will power McLaren's current and future high-performance hybrid supercars.
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