Global Electric Racing Car Market Report 2022: Increasing government initiatives to curb CO2 emissions in the powertrain sector – Yahoo Finance | CarTailz

DUBLIN, November 8, 2022 /PRNewswire/ — Added the Global Electric Racing Car Market, Type, Battery Capacity, Transmission Type, Region, Competition Forecast & Opportunities, 2027 report ResearchAndMarkets.com Offer.

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The global Electric Racing Cars Market is anticipated to register growth at an impressive CAGR during the forecast period 2023-2027. An electric racing car is a super-fast car that is mainly used by well-trained professionals on the prepared race track. These cars are powered by one or more electric motors and use the energy stored in the batteries or electric generators to convert fuel into electricity. Some of the electric racing cars are also powered by solar cells. Compared to internal combustion engine (ICS) vehicles, electric cars are much quieter and have minimal or no exhaust and carbon emissions.

The market growth is due to the increasing need for a sustainable way of car racing. With increasing greenhouse effects and rising temperatures around the world, the demand for more sustainable commuting solutions is increasing. Deteriorating air quality due to increasing carbon footprint has led to an increase in a number of respiratory diseases such as asthma, bronchitis, lung cancer, generic cough and cold, etc.

As a result, the global electric racing car market is projected to grow at a rapid pace in the coming years. Furthermore, the rising per capita income of people along with the increase of millionaires around the world is giving the market a boost as the high-income group is more attracted to such luxury products.

Increasing government initiatives to curb carbon emissions are driving product demand

Increasing government support to accelerate the adoption of zero-emission, long-range electric racing cars through tax rebates and subsidies is boosting the global electric racing car market. This has forced manufacturers to increase the production of electric racing cars and the installation of their gas stations. Additionally, the depletion of key fossil fuels such as gasoline and diesel is driving the need to manufacture ICS vehicles and replace them with electric vehicles. To further support this, governments of various nations are providing financial support to several private companies to develop electric vehicle charging stations and hydrogen fueling stations. The governments of several companies are also offering incentives to buyers of electric racing cars. This will open opportunities for OEMs to expand their market size and revenue stream.

Reducing the cost of electric batteries facilitates the market growth

Many companies are introducing new and technically advanced products in the electric car racing segment, making the global electric car racing market very competitive. In addition, the cost of electric batteries has decreased over the past decade due to advances in technology and the mass production of electric vehicle batteries. This in turn has reduced the cost of electric racing cars as electric batteries are one of the most expensive electric vehicle components.

market segmentation

Global Electric Racing Cars Market, by Type:

  • Open seating

  • Top fuel dragster

  • rally cars

  • Racing car prototypes

  • Other

Global Electric Racing Cars Market by Battery Capacity:

Global Electric Racing Cars Market, by Transmission Type:

Global Electric Racing Cars Market by Transmission Region:

  • North America

  • Europe

  • Asia Pacific

  • South America

  • middle East & Africa

Main topics covered:

1. Product overview

2. Research methodology

3. Summary

4. Impact of COVID-19 on the Global Electric Car Market

5. Voice of the customer

6. Global Electric Racing Car Market Outlook

7. Electric Racing Car Market Outlook in North America

8. Asia Pacific Electric Racing Car Market Outlook

9. Europe & CIS Electric Racing Car Market Outlook

10. Electric Racing Car Market Outlook in South America

11. middle East and Electric Racing Car Market Outlook in Africa

12. Market Dynamics

13. Market Trends and Developments

14. Product Benchmarking

15. Competitive Landscape

16. Strategic Recommendations

companies mentioned

  • Tesla Inc.

  • BMW AG

  • Group Renault

  • Volkswagen Group (Audi)

  • Jaguar Land Rover

  • Subaru

  • SEAT SA (Cupra)

  • Hyundai

  • ELMOFO

  • Faraday & Future Inc.

For more information about this report, visit https://www.researchandmarkets.com/r/ribwke

Media contact:

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SOURCE Research and Markets

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