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; it is estimated to register a CAGR of 5.4% from 2022 to 2030.
Rising Motorsport Event Revenue Drives Europe Motorsport Transmission Market
Event revenue generation has increased in the past few years due to rising popularity and spending of motorsport events. F1's parent business, Liberty Media, stated that the racing promotion made US$ 2.5 billion in income in 2022, a 20% rise from the previous year's tally of US$ 2.1 billion. Compared to the previous year, Formula 1's overall revenues increased significantly during the third quarter of 2023. Formula One revenues continued to rise in the third quarter of 2023, climbing from US$ 715 million in 2022 to US$ 887 million in 2023, representing a 24% increase. Operating income climbed by 61% within the same period. Last year, the figure was US$ 82 million, but this year, it has risen to US$ 132 million. In the third quarter of 2022, all ten Formula One teams received payments of totaling US$ 370 million, as compared to 2023's increased sum of US$ 432 million. Red Bull Team reported a turnover of US$ 398.9 million in 2022, a 13% rise over the previous year's number of US$ 386.1m, while profit after tax increased from US$ 9.7m to US$ 13.4m. Red Bull Racing numbers are included in the above group totals. The team also increased its sponsorship revenue, with Oracle becoming its title sponsor at the start of the 2022 season. Mercedes-Benz Grand Prix Ltd claimed a turnover of US$ 474.6m for 2022, a US$ 94.5 increase over the previous year's number of US$434.0 m. Aston Martin reported a 25% increase in revenue in 2022, reaching US$ 229 million. Such increased revenue has enabled the motorsport teams to attend every event and increase their spending on research and development activities for new vehicles. Thus, all these factors support the requirement and adoption of the motorsport transmission, ultimately driving the market.
Europe Motorsport Transmission Market Overview
Europe is dominating the global motorsport transmission market as the region is home to one of the top motorsports, Le Mans. Further, Formula One has gained the highest popularity since its initial seasons. The region has become the development hub for the Formula One vehicles. With seven of the ten Formula One (F1) teams based in the UK, British technology and expertise have dominated worldwide motorsport for the past seven decades. Motorsport Valley in the United UK Kingdom is a global leader in motorsport, with over 4,300 enterprises employing over 40,000 people and a US $ 11 billion annual sales turnover. France is another country with the second highest market share owing to deep roots in the motorsport industry. In addition, many top motorsport teams emerge from France. Further, Switzerland has lifted its 65-year-old band on motorsport, which is further expected to generate lucrative demand for the motorsport industry motorsport, ultimately driving the motorsport transmission industry.
Europe Motorsport transmission Market Revenue and Forecast to 2030 (US$ Million)
Europe Motorsport Transmission Market Segmentation
The Europe motorsport transmission market is categorized into racing type, transmission type, and country.
Based on race 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 the largest market share in 2022.
In terms of transmission type, the Europe motorsport transmission market is categorized into manual, automatic, and sequential. The sequential segment held the largest market share in 2022.
By country, the Europe motorsport transmission market is segmented into France, Germany, Italy, the UK, Russia, and the Rest of Europe. The UK dominated the Europe motorsport transmission market share in 2022.
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 are some of the leading companies operating in the Europe motorsport transmission market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 145.51 Million |
| Market Size by 2030 | US$ 220.79 Million |
| CAGR (2022 - 2030) | 5.4% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Racing Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
1. Marelli Holdings Co Ltd.
2. Ricardo Plc.
3. Drenth Gearboxes Holland BV.
4. Samsonas Motorsport UAB.
5. Hewland Engineering Ltd.
6. ZF Friedrichshafen AG.
7. SADEV SAS.
8. Holinger Engineering Co Pty Ltd.
9. Xtrac Ltd.
The Europe Motorsport Transmission Market is valued at US$ 145.51 Million in 2022, it is projected to reach US$ 220.79 Million by 2030.
As per our report Europe Motorsport Transmission Market, the market size is valued at US$ 145.51 Million in 2022, projecting it to reach US$ 220.79 Million by 2030. This translates to a CAGR of approximately 5.4% during the forecast period.
The Europe 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 Europe Motorsport Transmission Market report:
The Europe Motorsport Transmission Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Motorsport Transmission Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Motorsport Transmission Market value chain can benefit from the information contained in a comprehensive market report.
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