Asia Pacific Motorsport Transmission Market
No. of Pages: 81 | Report Code: BMIRE00030697 | Category: Automotive and Transportation
No. of Pages: 81 | Report Code: BMIRE00030697 | Category: Automotive and Transportation
The Asia Pacific motorsport transmission market was valued at US$ 57.81 million in 2022 and is expected to reach US$ 77.84 million by 2030; it is estimated to register a CAGR of 3.8% from 2022 to 2030.Rising Motorsports Trends in Asia Pacific Boost Asia Pacific Motorsport Transmission Market
The majority of the fan base for motorsports is from North America and Europe. Although many motorsport events take place in Asia Pacific, the popularity of such events is comparatively low. However, in recent years, many motorsport events have witnessed massive viewership from Asian countries. In addition, events in Asia Pacific are generating notable revenues. The Asian Le Mans Series' original format has proven extremely successful with both fans and teams and the 2022 season attracted 37 cars and a record number of fans, with an audience of more than 20 million people. The TV audience was 7.6 million, up from over 1 million in the 2021 season, and the live-streaming audience reached 12.6 million, up nearly by 7 million from the previous season.
According to the survey report published by IndyCar in 2022, Live streaming of races is popular among younger fans, particularly in Europe and Asia. INDYCAR's burgeoning international fan base strongly desires to attend a race in the future, with 77% of South & Central American respondents, 57% of Europeans, and 72% of Asia Pacific fans planning to attend the race. As per the data published by Red Bull, the company has witnessed increased popularity for the F1 from India in recent years. India is among the top five countries considering the total number of fans. Thus, to cater to the rising demand, F1 TV Pro debuted in India in February 2023. The broadcasting channel provided coverage of all 23 race weekends, including practice, qualifying, races, and F1 Sprint events. Apart from the fanbase, motorsport infrastructure is also witnessing massive developments. The Indian government will build five new race tracks in the coming years. Nanoli Speedway, The Valley Speedway, and Pista Motor Raceway are among the new tracks. The race track for Nanoli Speedway, which will be built on the fringes of Mumbai-Pune, has been developed by UK-based Driven International and former F1 racer Karun Chandhok. The Nanoli Speedway will be 2.9 kilometers long and will have 12 turns. The Valley Speedway is a new 2.4 km race circuit near Chitradurga, around 3 hours from Bengaluru's city center. The Valley Speedway, led by Hermann Tilke, the designer behind circuits such as Yas Marina, Circuit of the Americas, and even the BIC, strives for FIA Grade 4 classification. The Pista Motor Raceway will be located in Telangana and will have a total length of 3.708 km with 16 turns. Thus, the growing popularity of motorsport events is leading to the development of motorsport infrastructure, directly leading to increasing motorsport events in Asia Pacific. Increased motorsports events are expected to create an ecosystem not only for fans but also for race car owners and part manufacturers in the coming year, which will directly lead to increased demand for Asia Pacific motorsport transmission market.Asia Pacific Motorsport Transmission Market Overview
Asia Pacific's overall motorsport industry is still growing in some parts, such as India and South Korea. On the other hand, addition, China and Japan have been witnessing the highest demand for motorsport and motorsport transmission. In China, motorsport's popularity has been steadily rising has steadily risen in China, fueled by Formula 1's presence at the Shanghai International Circuit. Recently, NASCAR entered China and started organizing events in the Chana that have directly resulted in the increased demand for motorsport transmission. For decades, Japan has been a technological innovation hotspot as well as a major player in the worldwide automotive sector Japan has been a technological innovation hotspot and a major player in the worldwide automotive sector for decades. The country's relationship with motorsport is inseparably linked to its automobile industry. At the same time, southeast countries such as Singapore and Malaysia have a strong presence in the motorsport industry. In addition, the FIA Asia -Pacific Rally Championship (APRC) given a platform for drivers and teams from the region for drivers and teams from the region and those from farther afield to demonstrate their abilities in international-standard events. The APRC is divided into two divisions: the FIA APRC Asia Cup and the FIA APRC Pacific Cup, each with a maximum of five events. This is due to the significant geographical spread of rallies and to ensure that as many competitors as possible can participate. Such initiatives have driven the motorsports industry, ultimately driving the Asia Pacific motorsport transmission market.
Asia Pacific Motorsport transmission Market Revenue and Forecast to 2030 (US$ Million)
Strategic insights for the Asia Pacific Motorsport Transmission provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the Asia Pacific Motorsport Transmission refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Get more information on this report Asia Pacific Motorsport Transmission Strategic Insights
Get more information on this report Asia Pacific Motorsport Transmission Report Scope
Report Attribute
Details
Market size in 2022
US$ 57.81 Million
Market Size by 2030
US$ 77.84 Million
Global CAGR (2022 - 2030)
3.8%
Historical Data
2020-2021
Forecast period
2023-2030
Segments Covered
By Racing Type
By Transmission Type
Regions and Countries Covered
Asia-Pacific
Market leaders and key company profiles
Get more information on this report Asia Pacific Motorsport Transmission Regional Insights
Get more information on this report Asia Pacific Motorsport Transmission Market Segmentation
The Asia Pacific motorsport transmission market is categorized into racing type, transmission type, and country.
Based on race type, the Asia Pacific 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 the largest market share in 2022.
In terms of transmission type, the Asia Pacific motorsport transmission market is categorized into manual, automatic, and sequential. The sequential segment held the largest market share in 2022.
By country, the Asia Pacific motorsport transmission market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific motorsport transmission market share in 2022.
Marelli Holdings Co Ltd, Ricardo Plc, ZF Friedrichshafen AG, and Holinger Engineering Co Pty Ltd are some of the leading companies operating in the Asia Pacific motorsport transmission market.
1. Marelli Holdings Co Ltd.
2. Ricardo Plc.
3. ZF Friedrichshafen AG.
4. Holinger Engineering Co Pty Ltd.
The Asia Pacific Motorsport Transmission Market is valued at US$ 57.81 Million in 2022, it is projected to reach US$ 77.84 Million by 2030.
As per our report Asia Pacific Motorsport Transmission Market, the market size is valued at US$ 57.81 Million in 2022, projecting it to reach US$ 77.84 Million by 2030. This translates to a CAGR of approximately 3.8% during the forecast period.
The Asia Pacific Motorsport Transmission Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Motorsport Transmission Market report:
The Asia Pacific Motorsport Transmission Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Motorsport Transmission Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Motorsport Transmission Market value chain can benefit from the information contained in a comprehensive market report.
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