LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global hypercar market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Siddharth Jaiswal, a lead analyst from Technavio, specializing in research on automotive manufacturing sector, says, “The automotive industry has seen significant demand for hypercars by racing car manufacturers such as Ferrari, Porsche, Automobili Lamborghini, and Bugatti, which has resulted in growth in volume sales for these extreme machines. In addition, the development of performance enhancing systems and active aerodynamics is further fueling the growth of the global hypercar market.”
The global hypercar market is expected to grow at a CAGR of over 37% owing to the growing demand for high-performance sports cars in the global automotive market. The global automotive industry has evolved over the years with improving economic conditions and developing infrastructure. The growth of the automotive industry is one of the primary indicators of the GDP of a country. Automobiles are no longer considered as a mere mode of transportation; these now act as status symbols, particularly with performance-oriented cars.
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The top three emerging trends driving the global hypercar market according to Technavio research analysts are:
Development of Project ONE by performance division of Mercedes-Benz
The global hypercar market is seeing extensive R&D investments. The growing popularity of such extreme performance cars in the global automotive market has gained the interest of global automakers. Mercedes-Benz has plans to enter the global hypercar market through its high-performance division, Mercedes-AMG, with Project ONE.
“The car will have an electrically-driven front axle with an all-wheel drive system. The integration of these two systems will help the front wheels to be individually driven with selective torque distribution, which is an active torque vectoring technique,” according to Siddharth.
Development of all-electric hypercar Dendrobium
The global hypercar market is seeing substantial developments through strategic partnerships among the automakers. The Singaporean firm Vanda Electrics, which primarily focuses on the development of electronic solutions for the automotive industry, recently showcased an all-electric hypercar concept known as the Dendrobium.
The car is being developed in collaboration with Williams Advanced Engineering, which is the technology development division of the Williams Group and its Formula 1 team. As technical partner, the engineering division of Williams takes care of the development of the hypercar's powertrain, aerodynamics, and battery management.
Aston Martin and Red Bull developing AM-RB 001 Valkyrie
British luxury sports car manufacturer Aston Martin and the Austrian Formula 1 racing team Red Bull Racing have collaborated to develop the world's fastest street car under the AM-RB 001 project and have named it Valkyrie. The engineers are giving special attention to the aerodynamics of the car to enhance its speed and operation.
The hypercar is expected to have a 6.5-liter engine with V-12 design configuration, which is being developed by Britain's high-performance engineering company Cosworth. The transmission in the car's powertrain is expected to have a seven-speed paddle shift gearbox to be developed by Britain's engineering firm Ricardo.
The key vendors are as follows:
- Automobili Lamborghini
- Ferrari
- Koenigsegg
- Pagani Automobili
- Porsche
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