Motorsports, usually divided into two categories: track racing and non-track racing, is a type of automobile competition. Motorsports held in enclosed venues, including formula races, drifting races, sedan races, sports car races, GT endurance races, short track rally races, off-road races, and straight-line races; The competition venues for non-track races are not closed, including rally races, off-road races, mountaineering races, beach races, and mud races.
Overview of Market Development
In recent years, with the increasing popularity and popularity of extreme sports, motorsports have gradually gained more and more favor, and the global motorsports market has steadily grown. According to our research data, the estimated revenue of the global motorsport market in 2024 is $9.66 billion, an increase of 8.77% compared to 2023, and is expected to continue to increase to $14.17 billion by 2029. The CAGR for 2024-2029 is estimated to be 7.95%.
Segmented Market Analysis
From the perspective of segmented projects, the motorsport market can be divided into broadcasting, ticketing, merchandising, and advertising. Among them, the revenue of the broadcasting segment market accounts for the largest share, estimated at 36.24% in 2024.
According to the nature of the events, motorsports can be divided into regional competition, national competition, and international competition. Among them, regional competition occupies the largest market share. According to the data, the estimated revenue of the global motorsport regional competition segment market in 2024 is $3.65 billion, and the market share is expected to reach 37.77%.
Global Motorsports Market Revenue and Segment Market Share Forecast
Source: www.globalmarketmonitor.com
Market Analysis of Major Regions/Countries
From a regional perspective, the global motorsport market is dominated by two major regions: North America and Europe. Among them, Europe is the largest revenue market. Data shows that the estimated revenue of the European motorsport market in 2024 is $5.69 billion, and the market share is expected to reach 58.83%.
From a national perspective, the UK is the largest revenue-generating country, with an estimated revenue of $1702 million from its motorsport market in 2024, and an estimated market share of 17.61% in the global market. In addition, Asian countries such as China, Japan, and India are also important components of the global motorsport market. Although these markets currently have a small market share, their growth rate is relatively fast.
Global Motorsports Market Revenue and Market Share by Region/Country Forecast in 2024
|
Regions/Countries
|
Market Revenue (Million USD)
|
Market Share
|
|
US
|
1641
|
16.98%
|
|
Europe
|
5685
|
58.83%
|
|
UK
|
1702
|
17.61%
|
|
China
|
354
|
3.66%
|
|
Japan
|
283
|
2.93%
|
|
India
|
139
|
1.44%
|
|
Southeast Asia
|
154
|
1.59%
|
|
Latin America
|
428
|
4.43%
|
|
Middle East & Africa
|
520
|
5.38%
|
Source: www.globalmarketmonitor.com
For more industry information, please refer to our latest released "2023 Global Motorsports Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".
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