Global Motorsport Transmission Market 2018-2022
About Motorsport Transmission
Motorsport transmission is the transmission system installed in automobiles and consists of a gearbox that is designed and manufactured specifically according to the racing requirements.
Technavio’s analysts forecast the global motorsport transmission market to register a revenue of more than USD 1 billion by 2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global motorsport transmission market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Motorsport Transmission Market 2018-2022
Technavio recognizes the following companies as the key players in the global motorsport transmission market: Hewland Engineering, Holinger, Ricardo, SADEV, Xtrac, and ZF Friedrichshafen.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing electric car racing. The increasing necessity for emission control has compelled many auto manufacturers to shift their focus toward electric vehicles. As a result, electric cars have penetrated into the motorsport events. Formula E Championship was started in 2014, and it has gained a major fan base due to the Formula E car's high-tech nature and superfast speeds.”
According to the report, one driver in the market is increased telecast and viewership for off-road racing event. Off-road racing cars use a manual synchromesh transmission with a hydraulic torque converter. Off-road racing is a type of motorsport racing that is difficult to spectate. Until 2012, such off-road races were not aired for a substantial period of time on TVs, but this scenario has improved in terms of broadcasting of such events.
Further, the report states that one challenge in the market is high cost of motorsport transmission. The cost of a motorsport vehicle like a racing car is very high. For instance, on an average, a race team costs around 81.4 million per year, including the cost of replacement of the car, out of which 28% to 30% of the total amount is spent on the car. From the total cost of replacement of a racing car, around 11% of the cost is spent on gearboxes and another 11% for the engine.
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