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Asia Pacific Motorsport Transmission Market Forecast to 2030
Asia Pacific 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)
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Description
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)
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.
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According to the Research Team’ research, 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, registering a CAGR of 3.8% from 2022 to 2030. Rising motorsport event revenue and new race car launches and addition of new teams are among the critical factors attributed to drive the Asia Pacific motorsport transmission market growth.
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.
On the contrary, increasing adoption of electric vehicles in motorsport hampers the growth of Asia Pacific motorsport transmission market.
Based on racing 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 45.2% market share in 2022, amassing US$ 26.12 million. It is projected to garner US$ 36.64 million by 2030 to register 4.3% CAGR during 2022-2030.
In terms of transmission type, the Asia Pacific motorsport transmission market is segmented into manual, automatic, and sequential. The sequential segment held 57.0% share of Asia Pacific motorsport transmission market in 2022, amassing US$ 32.93 million. It is anticipated to garner US$ 46.48 million by 2030 to expand at 4.4% CAGR during 2022-2030.
Based on country, the Asia Pacific motorsport transmission market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 55.4% share of Asia Pacific motorsport transmission market in 2022. It was assessed at US$ 32.00 million in 2022 and is likely to hit US$ 41.41 million by 2030, registering a CAGR of 3.3% during 2022-2030.
Key players operating in the Asia Pacific motorsport transmission market are Marelli Holdings Co Ltd, Ricardo Plc, ZF Friedrichshafen AG, and Holinger Engineering Co Pty Ltd, among others.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific motorsport transmission market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Asia Pacific motorsport transmission market market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
1. Introduction
1.1 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Motorsport Transmission Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.3 Pest Analysis
5. Asia Pacific Motorsport Transmission Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increasing Viewership of Motorsports
5.1.2 Rising Motorsport Event Revenue
5.2 Market Restraints
5.2.1 Increasing Adoption of Electric Vehicles in Motorsport
5.3 Market Opportunities
5.3.1 Rising Motorsports Trends in Asia Pacific
5.3.2 Integration With Hybrid Powertrains
5.4 Future Trends
5.4.1 New Race Car Launches and Addition of New Teams
5.5 Impact of Drivers and Restraints:
6. Motorsport Transmission Market – Asia Pacific Analysis
6.1 Motorsport Transmission Market Revenue (US$ Million), 2022 – 2030
6.2 Motorsport Transmission Market Forecast and Analysis
7. Asia Pacific Motorsport Transmission Market Analysis – Racing Type
7.1 Motorsport Transmission Market, By Racing Type (2022 and 2030)
7.2 Formula One
7.2.1 Overview
7.2.2 Formula One Market Revenue and Forecast to 2030 (US$ Million)
7.3 NASCAR
7.3.1 Overview
7.3.2 NASCAR Market Revenue and Forecast to 2030 (US$ Million)
7.4 GT Racing
7.4.1 Overview
7.4.2 GT Racing Market Revenue and Forecast to 2030 (US$ Million)
7.5 WTCC (Word Touring Car Championship)
7.5.1 Overview
7.5.2 WTCC (Word Touring Car Championship) Market Revenue and Forecast to 2030 (US$ Million)
7.6 Le Mans
7.6.1 Overview
7.6.2 Le Mans Market Revenue and Forecast to 2030 (US$ Million)
7.7 Rally and Off road
7.7.1 Overview
7.7.2 Rally and Off-road Market Revenue and Forecast to 2030 (US$ Million)
7.8 Others
7.8.1 Overview
7.8.2 Others Market Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific Motorsport Transmission Market Analysis – Transmission Type
8.1 Motorsport Transmission Market, By Transmission Type (2022 and 2030)
8.2 Manual
8.2.1 Overview
8.2.2 Manual Market Revenue and Forecast to 2030 (US$ Million)
8.3 Automatic
8.3.1 Overview
8.3.2 Automatic Market Revenue and Forecast to 2030 (US$ Million)
8.4 Sequential
8.4.1 Overview
8.4.2 Sequential Market Revenue and Forecast to 2030 (US$ Million)
9. Asia Pacific Motorsport Transmission Market – Country Analysis
9.1 Asia Pacific Motorsport Transmission Market Overview
9.1.1 Asia Pacific Motorsport Transmission Market Revenue and Forecasts and Analysis – By Country
9.1.1.1 Asia Pacific Motorsport Transmission Market Revenue and Forecasts and Analysis – By Country
9.1.1.2 Australia Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.2.1 Australia Motorsport Transmission Market Breakdown by Racing Type
9.1.1.2.2 Australia Motorsport Transmission Market Breakdown by Transmission Type
9.1.1.3 China Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.3.1 China Motorsport Transmission Market Breakdown by Racing Type
9.1.1.3.2 China Motorsport Transmission Market Breakdown by Transmission Type
9.1.1.4 India Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.4.1 India Motorsport Transmission Market Breakdown by Racing Type
9.1.1.4.2 India Motorsport Transmission Market Breakdown by Transmission Type
9.1.1.5 Japan Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.5.1 Japan Motorsport Transmission Market Breakdown by Racing Type
9.1.1.5.2 Japan Motorsport Transmission Market Breakdown by Transmission Type
9.1.1.6 South Korea Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.6.1 South Korea Motorsport Transmission Market Breakdown by Racing Type
9.1.1.6.2 South Korea Motorsport Transmission Market Breakdown by Transmission Type
9.1.1.7 Rest of Asia Pacific Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.7.1 Rest of Asia Pacific Motorsport Transmission Market Breakdown by Racing Type
9.1.1.7.2 Rest of Asia Pacific Motorsport Transmission Market Breakdown by Transmission Type
10. Competitive Landscape
10.1 Heat Map Analysis
10.2 Company Positioning & Concentration
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. Company Profiles
12.1 Marelli Holdings Co., Ltd.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Ricardo plc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 ZF Friedrichshafen AG
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Holinger Engineering Co Pty Ltd
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
13. Appendix
13.1 Word Index
13.2 About The the Reporting Teams
Table 1. Asia Pacific Motorsport Transmission Market Segmentation
Table 2. Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Million) – Racing Type
Table 4. Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Million) – Transmission Type
Table 5. Asia Pacific Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 6. Australia Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn) – By Racing Type
Table 7. Australia Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn) – By Transmission Type
Table 8. China Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn) – By Racing Type
Table 9. China Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn) – By Transmission Type
Table 10. India Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn) – By Racing Type
Table 11. India Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn) – By Transmission Type
Table 12. Japan Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn) – By Racing Type
Table 13. Japan Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn) – By Transmission Type
Table 14. South Korea Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn) – By Racing Type
Table 15. South Korea Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn) – By Transmission Type
Table 16. Rest of Asia Pacific Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn) – By Racing Type
Table 17. Rest of Asia Pacific Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn) – By Transmission Type
Table 18. Heat Map Analysis by Key Players
Table 19. List of Abbreviation
Figure 1. Motorsport Transmission Market Segmentation, By Country
Figure 2. Ecosystem: Motorsport Transmission Market
Figure 3. Pest Analysis
Figure 4. Motorsport Transmission Market – Key Industry Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. Motorsport Transmission Market Revenue (US$ Million), 2022 – 2030
Figure 7. Motorsport Transmission Market Share (%) – Racing Type, 2022 and 2030
Figure 8. Formula One Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. NASCAR Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. GT Racing Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. WTCC (Word Touring Car Championship) Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Le Mans Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Rally and Off-road Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Motorsport Transmission Market Share (%) – Transmission Type, 2022 and 2030
Figure 16. Manual Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Automatic Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Sequential Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Asia Pacific Motorsport Transmission Market, by Key Countries – Revenue (2022) (US$ Million).
Figure 20. Asia Pacific Motorsport Transmission Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 21. Australia Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 22. China Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 23. India Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 24. Japan Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 25. South Korea Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 26. Rest of Asia Pacific Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 27. Company Positioning & Concentration
The List of Companies – Asia Pacific Motorsport Transmission Market
1. Marelli Holdings Co Ltd.
2. Ricardo Plc.
3. ZF Friedrichshafen AG.
4. Holinger Engineering Co Pty Ltd.
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