LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global high-performance car market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022.
According to Technavio analysts, the global high-performance car market will grow at a CAGR of close to 7% during the forecast period. The increasing adoption of high-performance cars by law enforcement agencies is a major factor driving the market’s growth.
There is a difference between the vehicles manufactured for law enforcement agencies and the ones offered to the public. These vehicles are custom integrated with advanced internal technologies, durable drivetrain, and efficient powertrain for exceptional performance. Advanced sensors, onboard computers, communication units, power brakes, and superior engines to handle the rigors of daily patrolling are features that are installed in the vehicles used by the police departments.
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In this report, Technavio highlights the launch of high-performance electric car models as one of the key emerging trends in the global high-performance car market:
Launch of high-performance electric car models
Electric vehicles are compelled to reduce the number of functional ICE vehicles owing to the stringent regulations by regulatory and governing bodies. This will drive the sales of EVs by 2022. Manufacturers of high-performance vehicles are increasingly producing high-performance EVs to increase their market shares and stay ahead of the competition.
“For example, companies such as Tesla have launched its high-performance electric car, Roadster. The vehicle has an effective range of about 620 miles per charge cycle. This model can attain a speed of up to 250mph and can accelerate to 60mph in 2 seconds,” says a senior analyst at Technavio for research on automotive manufacturing.
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Global high-performance car market segmentation
This market research report segments the global high-performance car market into the following products, including high-performance non-electric cars and high-performance electric cars and key regions, including the Americas, APAC, and EMEA.
The high-performance non-electric cars segment held the largest market share in 2017, accounting for nearly 97% of the market. The market share for this product is expected to decrease nearly 9% by 2022. The fastest growing product is high-performance electric cars, which will account for nearly 12% of the total market share by 2022.
The Americas was the leading region for the global high-performance car market in 2017, accounting for a market share of nearly 44%. By 2022, the Americas will witness a decline in market share, whereas APAC is expected to register the highest growth rate of nearly 2%.
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