Rally Sport Vehicle Market: Introduction

  • Rally sport vehicle is a racing automobile built to specifications set by the International Federation of Automobiles (FIA), and it competes in the outright class of the World Rally Championship

Key Drivers of Rally Sport Vehicle Market

  • Surge in the number of motorsport events being held across the world is another factor propelling the global market. Major national and international tournaments and events are being planned and held to promote sports tourism. The stakeholders of the sports industry are focusing on attaining a wider audience to showcase tournaments and expand their reach. Thus, boosting the global rally sport vehicle market.
  • Expansion of rally sport vehicle market can also be attributed to an increase in the size of advertising deals and sponsorships. Social media platforms such as Facebook and Twitter are further promoting motor racing and attracting more audience and have been significantly contributing to the demand for rally sport events, thereby driving the rally sport vehicle market.

Challenges in Rally Sport Vehicle Market

  • The recent outbreak of COVID-19 pandemic has affected national as well as international automotive supply chains, manufacturing and R&D operations, thus hampered the automotive industry. Post first wave of COVID-19 global economies have started opened up automotive manufacturing and supply chain operations, thus the COVID impact on the industry have seems to reach a state of normalcy, however, again surge in the COVID-19 cases in countries across Europe have forced governments to impose a second round of lockdown restrictions and thus, the uncertainty in the automotive industry remains to continue. A gradual recovery in the demand from automotive and ancillaries is anticipated in the next few months despite concerns around the risk of a second wave of infection in numerous countries and other geopolitical risks.

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Opportunities in Rally Sport Vehicle Market

  • The safety standards for rally vehicles are enhanced periodically. Continuous research and development by automakers raise the safety standards regularly to comply with global standards set by the FIA and Snell rally sporting associations, and to avoid life loss. For instance, in 2020, Toyota announced to field five Yaris cars in Finland for racing season of 2020 and 2021. These cars are equipped with new safety features that were not there in the previous version introduced in 2017. Therefore, timely update of safety features in vehicles is boosting rally sporting activity and thus, offering significant opportunity for the rally sport vehicle market.

Rally Sport Vehicle Market in Asia Pacific to expand at a notable growth rate

  • Europe is home to major automotive manufacturers who regularly participate in motor sport events held across the continent to showcase the strength, safety, comfort, endurance, and durability of their vehicles. Rally racing is a popular sport in Europe and several major global events are held across the region

Key Players Operating in Rally Sport Vehicle Market

The global rally sport vehicle market is moderately consolidated. A few of the key players operating in the global rally sport vehicle market are:

  • Bayerische Motoren Werke AG
  • Ford
  • Honda Motor Co, Ltd
  • Hyundai
  • Mahindra Adventure
  • Mitsubishi Motors
  • Nissan Motorsports
  • Renault Sport
  • Toyota
  • Toyota Motor Corporation
  • Volkswagen

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Global Rally Sport Vehicle Markt: Research Scope

Global Rally Sport Vehicle Market, by Type

  • Stage Rally
  • Road Rally

Global Rally Sport Vehicle Market, by Vehicle Type

  • Motorcycles
  • Cars
  • Trucks

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Rally Sport Vehicle Market