The North America motorsport transmission market was valued at US$ 79.80 million in 2022 and is expected to reach US$ 113.30 million by 2030; it is estimated to register a CAGR of 4.5% from 2022 to 2030.
Increasing Popularity of Motorsport Events Fuels North America Motorsport Transmission Market
Motorsports viewership has increased dramatically in recent years. Considering the worldwide motorsport events, Formula 1 stands unrivaled in terms of appeal and viewership, with ~1.9 billion viewers in the 2023 season. According to IndyCar numbers, the series averaged 1.403 million viewers per race on NBC, a 2% rise year over year. The doubleheader at Lowa Speedway was especially outstanding, averaging 1.21 million viewers throughout the weekend, a 31% increase year over year. The Indianapolis 500 was one of the season's top draws, with an average of 4.94 million viewers. While this increased over last year's average of 4.84 million viewers, 2023 is one of only four seasons of the race to have received fewer than five million spectators. The Formula One season in the US in 2022 averaged 1.21 million viewers per race on ESPN, ESPN2, and ABC, a 28% increase over the previous US television record of 949,000 average viewers established in 2021. In addition, the 2022 season was the first in US television history to average 1 million viewers each race.
In terms of television viewership, the US ranks at third position. With rising popularity and more home events on the calendar, the US is likely to break into the top five in the future years. Most other countries witnessing rapid growth in viewing are already listed among the top five in the world. Such increased popularity for motorsport has positively affected the number of events. As a result, several new small-scale motorsport events have emerged that have directly and positively impacted the demand for motorsport transmission.
Such increased popularity for motorsport has positively affected the number of events. As a result, several new small-scale motorsport events have emerged that have directly and positively impacted the demand for motorsport transmission.
North America Motorsport Transmission Market Overview
The North American region has secured the second position in the global motorsport transmission market. Formula One has the highest popularity in North America, whereas NASCAR has now become the second most popular motorsport in the region. The US market held the maximum share owing to the strong presence of automotive manufacturers and deep-rooted passion for motorsports. Companies such as Xtrac and G-Force Racing Transmissions are prominent in producing high-performance transmissions for various motorsport disciplines. The US market is driven by a strong motorsport culture, and with high demand for NASCAR, IndyCar, drag racing, and off-road racing. Canada is following the trend after the US in terms of total revenue. The country hosts a round of the Formula 1 championship, drawing global attention.
North America Motorsport transmission Market Revenue and Forecast to 2030 (US$ Million)
North America Motorsport Transmission Market Segmentation
The North America motorsport transmission market is categorized into racing type, transmission type, and country.
Based on race type, the North America 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 North America motorsport transmission market is categorized into manual, automatic, and sequential. The sequential segment held the largest market share in 2022.
By country, the North America motorsport transmission market is segmented into the US, Canada, and Mexico. The US dominated the North America motorsport transmission market share in 2022.
Marelli Holdings Co Ltd, Ricardo Plc, EMCO Gears Inc, ZF Friedrichshafen AG, SADEV SAS, Holinger Engineering Co Pty Ltd, and Xtrac Ltd are some of the leading companies operating in the North America motorsport transmission market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 79.80 Million |
| Market Size by 2030 | US$ 113.30 Million |
| CAGR (2022 - 2030) | 4.5% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Racing Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
1. Marelli Holdings Co Ltd.
2. Ricardo Plc.
3. EMCO Gears Inc.
4. ZF Friedrichshafen AG.
5. SADEV SAS.
6. Holinger Engineering Co Pty Ltd.
7. Xtrac Ltd.
The North America Motorsport Transmission Market is valued at US$ 79.80 Million in 2022, it is projected to reach US$ 113.30 Million by 2030.
As per our report North America Motorsport Transmission Market, the market size is valued at US$ 79.80 Million in 2022, projecting it to reach US$ 113.30 Million by 2030. This translates to a CAGR of approximately 4.5% during the forecast period.
The North America 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 North America Motorsport Transmission Market report:
The North America Motorsport Transmission Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Motorsport Transmission Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Motorsport Transmission Market value chain can benefit from the information contained in a comprehensive market report.
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