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North America Motorsport Transmission Market Forecast to 2030
North America 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
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.
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According to the Research Team’ research, 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, registering a CAGR of 4.5% from 2022 to 2030. New race car launches and addition of new teams and rising motorsport event revenue are among the critical factors attributed to drive the North America motorsport transmission market growth.
Many motorsport teams and automakers across the globe are introducing new track-ready vehicles that are more efficient and effective. In February 2023, McLaren Motorsport confirmed the new 720S GT3 EVO, intended to be built on the 720S’s performance at the top of the international GT3 field into the 2023 season and beyond. The 720S GT3 EVO will be homologated for the 2023 season as a new-build race vehicle or as an update package for an existing car. The modifications incorporate lessons learned from the 720S GT3, which has been a front-runner in GT3 since its debut, as well as feedback from teams, and continue a program of GT race cars meant to be accessible to customer outfits and drivers of all talents, which includes the forthcoming Artura GT4. Hyundai formally introduced the next generation of its i20 N Rally1 car, which will compete in the 2023 World Rally Championship in January 2023. ECU Racing will introduce a lighter, faster, and more powerful car in November 2023. ECU Racing has presented its newest race car to celebrate its 15th anniversary.
On the contrary, increasing adoption of electric vehicles in motorsport hampers the growth of North America motorsport transmission market.
Based on racing 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 43.3% market share in 2022, amassing US$ 34.54 million. It is projected to garner US$ 47.69 million by 2030 to register 4.1% CAGR during 2022-2030.
In terms of transmission type, the North America motorsport transmission market is segmented into manual, automatic, and sequential. The sequential segment held 65.0% share of North America motorsport transmission market in 2022, amassing US$ 51.85 million. It is anticipated to garner US$ 77.58 million by 2030 to expand at 5.2% CAGR during 2022-2030.
Based on country, the North America motorsport transmission market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 70.8% share of North America motorsport transmission market in 2022. It was assessed at US$ 56.47 million in 2022 and is likely to hit US$ 82.48 million by 2030, registering a CAGR of 4.8% during 2022-2030.
Key players operating in the North America motorsport transmission market are Marelli Holdings Co Ltd, Ricardo Plc, EMCO Gears Inc, ZF Friedrichshafen AG, SADEV SAS, Holinger Engineering Co Pty Ltd, and Xtrac 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 North America 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 North America market trends and outlook coupled with the factors driving the North America motorsport transmission 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. North America Motorsport Transmission Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
5. North America Motorsport Transmission Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increasing Popularity of Motorsport Events
5.1.2 Rising Motorsport Event Revenue
5.1.3 Growing Popularity of Off-Road Racing in US
5.2 Market Restraints
5.2.1 Increasing Adoption of Electric Vehicles in Motorsport
5.3 Market Opportunities
5.3.1 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 – North America Analysis
6.1 Motorsport Transmission Market Revenue (US$ Million), 2020 – 2030
6.2 Motorsport Transmission Market Forecast and Analysis
7. North America 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. North America 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. North America Motorsport Transmission Market – Country Analysis
9.1 North America Motorsport Transmission Market Overview
9.1.1 North America Motorsport Transmission Market Revenue and Forecasts and Analysis – By Country
9.1.1.1 North America Motorsport Transmission Market Revenue and Forecasts and Analysis – By Country
9.1.1.2 US Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.2.1 US Motorsport Transmission Market Breakdown by Racing Type
9.1.1.2.2 US Motorsport Transmission Market Breakdown by Transmission Type
9.1.1.3 Canada Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.3.1 Canada Motorsport Transmission Market Breakdown by Racing Type
9.1.1.3.2 Canada Motorsport Transmission Market Breakdown by Transmission Type
9.1.1.4 Mexico Motorsport Transmission Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.4.1 Mexico Motorsport Transmission Market Breakdown by Racing Type
9.1.1.4.2 Mexico 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 EMCO Gears Inc
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 ZF Friedrichshafen AG
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 SADEV SAS
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Holinger Engineering Co Pty Ltd
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Xtrac Ltd
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 Word Index
13.2 About The the Reporting Teams
Table 1. North America 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. North America Motorsport Transmission Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 6. US Motorsport Transmission Market Revenue and Forecasts To 2030 (US$ Mn) – By Racing Type
Table 7. US Motorsport Transmission Market Revenue and Forecasts To 2030 (US$ Mn) – By Transmission Type
Table 8. Canada Motorsport Transmission Market Revenue and Forecasts To 2030 (US$ Mn) – By Racing Type
Table 9. Canada Motorsport Transmission Market Revenue and Forecasts To 2030 (US$ Mn) – By Transmission Type
Table 10. Mexico Motorsport Transmission Market Revenue and Forecasts To 2030 (US$ Mn) – By Racing Type
Table 11. Mexico Motorsport Transmission Market Revenue and Forecasts To 2030 (US$ Mn) – By Transmission Type
Table 12. Heat Map Analysis by Key Players
Table 13. List of Abbreviation
Figure 1. Motorsport Transmission Market Segmentation, By Country
Figure 2. Ecosystem: Motorsport Transmission Market
Figure 3. Motorsport Transmission Market – Key Industry Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Motorsport Transmission Market Revenue (US$ Million), 2020 – 2030
Figure 6. Motorsport Transmission Market Share (%) – Racing Type, 2022 and 2030
Figure 7. Formula One Market Revenue and Forecasts To 2030 (US$ Million)
Figure 8. NASCAR Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9. GT Racing Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. WTCC (Word Touring Car Championship) Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. Le Mans Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. Rally and Off-road Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. Motorsport Transmission Market Share (%) – Transmission Type, 2022 and 2030
Figure 15. Manual Market Revenue and Forecasts To 2030 (US$ Million)
Figure 16. Automatic Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. Sequential Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. North America Motorsport Transmission Market, by Key Countries – Revenue (2022) (US$ Million)
Figure 19. North America Motorsport Transmission Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 20. US Motorsport Transmission Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 21. Canada Motorsport Transmission Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 22. Mexico Motorsport Transmission Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 23. Company Positioning & Concentration
The List of Companies – North America Motorsport Transmission Market
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.
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