Motorsports Market Research Report By Channel (Broadcasting/Media Rights, Ticketing, Race Host Fees, Advertiser/Sponsorship, Merchandising, Others), by Operational Entities (Series Owner, Race Teams, Racetrack Owners & Local Race Organizers), by Racing Types (Formula Racing, Stock Car Racing, Rally Racing, Motorcycle Racing, Drag Racing, Off-Road Racing, Touring Car Racing, Kart Racing, Sports Car Racing), by Participant Type (Professional Racers, Amateurs Racers), and By Region (North America, Europe, Asia-Pacific, Middle East and Africa,

Global Motorsports Market Overview

Motorsports Market Size was valued at USD 14,704.0 million in 2023. The Motorsports Market industry is projected to grow from USD 15,543.8 Million in 2024 to USD 30,268.2 million by 2032, exhibiting a compound annual growth rate (CAGR) of 8.7 % during the forecast period (2024- 2032).  

Technological advancement in automotive engineering, improving popularity of motorsport events, rising sponsorships, and investment from several brands have been the biggest forces in driving the growth of the motorsports market.

As per Analyst at MRFR, “The Motorsports Market has been increasing at a significant growth rate, which has been contributed by multiple factors such as improving reach of the broadcast platforms, rising strategic partnerships with brands, increasing impact of social media, and the clubbing of prominent celebrities and athletes”.

FIGURE 1: MOTORSPORTS MARKET SIZE 2019-2032 (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Motorsports Market Trends

Increasing Popularity of Motorsports Events

The increasing reach of broadcasting platforms has been a major contributor to the growth of motorsports events. For instance, ESPN reported that the 2024 Formula 1 World Championship season drew nearly 30 million viewers across its platforms in the U.S., with the average viewership per race for this season reaching 1.12 million on ESPN, ESPN2, and ABC, reflecting an increase compared to 2023.

According to International Journal of Multidisciplinary Research and Analysis (IJMCRA), the organization of sporting events is seen to attract tourists hence contributing to economy. Events involving motorsports exhibit a similar tendency. The graph below shows the increase in visitors from 2018 to 2023 as a result of the hosting of some motorsport events in different nations. The COVID-19 epidemic caused a decrease in the number of visitors in 2020, however the statistics for 2021, 2022, and 2023 revealed a rise in the number of visitors for motorsport events, suggesting that these events are becoming more and more popular.

Motorsports Market Segment Insights

Motorsports Channel Insights

Based on channel, the Motorsports Market has been segmented into Broadcasting/Media Rights, Ticketing, Race Host Fees, Advertiser/Sponsorship, Merchandising, and Others. Broadcasting/Media Rights held the largest share of the market in 2023. Expanding global audiences, increased fan engagement through multiple media channels, and the growing trend of digital consumption of sports content.

Strengthening digital media partnerships, offering live streaming on diverse platforms, and capitalizing on growing online sports viewership. Additionally, motorsports series can engage with younger audiences by focusing on social media platforms and esports broadcasting. Expanding global fanbase, high engagement of motorsports fans, and the ability of motorsports events to provide extensive visibility for global brands. Tapping into new industries, increasing the role of tech and digital platforms in sponsorships, and promoting sustainable brands in motorsports to align with consumer preferences for eco-conscious companies.

Motorsports Operational Entities Insights

Based on operational entities, the Motorsports Market has been segmented into Series Owners, Race Teams, and Racetrack Owners & Local Race Organizers. Series Owners held the largest share in 2023. Growing fanbase, increasing media rights deals, sponsorship opportunities, and rising demand for new racing formats like electric or hybrid racing leagues. Expanding into emerging markets, diversifying event formats (e.g., e-sports and virtual racing), and increasing fan engagement through interactive media and digital content. Collaboration with technology companies for advanced data analytics, performance optimization, and vehicle development.

Additionally, teams are becoming more involved in sustainability through eco-friendly vehicle technology. Sponsorship deals, team performance, and partnerships with car manufacturers and tech firms. Leveraging data analytics and AI to improve team strategies and performance, exploring electric or hybrid vehicle racing, and expanding digital fan engagement through social media and streaming platforms. Racetrack owners operate and maintain the facilities where motorsport events are held.

Motorsports Racing Type Insights

Based on Racing Type, the Motorsports Market has been segmented into Formula Racing, Stock Car Racing, Rally Racing, Motorcycle Racing, Drag Racing, Off-Road Racing, Touring Car Racing, and Kart Racing. Formula racing accounted for the largest share of the market in 2023. The integration of data analytics and AI for race strategy is also growing. The global appeal of Formula 1, major sponsorships, media rights, and technological innovations like aerodynamics and hybrid engines are major drivers. Expanding the Formula E series globally, targeting new markets, and enhancing fan engagement through digital platforms and esports. Stock car racing, with NASCAR as the dominant series, features closed-wheel cars racing on oval or tri-oval tracks.

The expansion of electric rally racing formats and increasing fan engagement through digital platforms and immersive experiences. Motorcycle racing includes renowned events like MotoGP and Superbike racing, where participants race on motorcycles at high speeds. A rise in global interest, especially in Asia, and the use of advanced safety technology and data analytics to enhance rider performance. Increased viewership through digital platforms, sponsorship deals, and the continuous technological development of motorcycles.

Motorsports Participant Type Insights

Based on participant type, the Motorsports Market has been segmented into professional racers and amateur drivers. Professional racers held the largest share of the market in 2023. Based on participant type, the Motorsports Market has been segmented into professional racers and amateur drivers. Professional riders held the highest market share in 2023.

The major market share of professional racers can be owed to the increasing demand for professional-level races such as NASCAR, MotoGP, Formula 1, and World Rally Championship (WRC). Growing digital and social media platforms also agree for broader exposure for professional racers. Furthermore, the amalgamation of esports and virtual racing delivers openings for drivers to reach new audiences and join in competitive virtual events, producing potential for cross-over participation and fan engagement.

FIGURE 2: MOTORSPORTS MARKET, BY PARTICIPANT TYPE, 2023 VS 2032 (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Motorsports Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East and Africa and South America. North America consists of the U.S, Canada, and Mexico.

North America holds a significant share of the market due to the rising racing events within the region and the preference of customers toward modification of cars for enhanced performance. For instance, the high popularity of racing series such as Formula 3 Americas, NASCAR, and the US Pro Kart Series are some of the most popular series in the US. Activities such as off-roading and rally racing are quite popular in this region. Furthermore, the high per capita disposable income and spending power of people of this region are the key factors driving the market growth.

Sports car racing is very famous in North America, and also, stock racing is mainly found in the US, Canada, Mexico. Furthermore, the presence of governing bodies such as NASCAR (National Association for Stock Car Auto Racing) and NHRA (National Hot Road Association) are supporting the growth of the regional market. The US motorsport market is majorly driven by the high popularity of motorsports in the region. In March 2024, Nascar race at the Circuit of The Americas (COTA) posted an average viewership of 3.31 million, a six per cent increase on last year’s race.   

Europe is expected to provide several growth opportunities for the market players during the forecast period due to the increasing number of backers and the presence of the world’s most mainstream racetracks, which drive the development of the motorsport products market in this region. Furthermore, some famous racing championships, such as European Rally Championship (ERC) and GT World Challenge Europe, are acting as growth factors for the region. These events receive significant support from the high-end car manufacturers, most of which have originated from the European countries.

Formula One (F1) also has huge fanbase in Europe and thus sports channels prefer to win broadcasting rights for F1. With emergence of OTT platforms, these motorsports are gaining added traction. In May 2024, F1 and Viaplay- a Swedish video streaming platform, signed five-year extension to media rights deal in the Netherlands and Nordics. Last year, there were approximately 12 million unique television viewers, an increase of 35% in the Netherlands. There was also around 5.5 million unique viewers across Denmark, Finland, Norway and Sweden.

FIGURE 3: MOTORSPORTS MARKET SIZE BY REGION 2023 VS 2032

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Further, the major countries studied in the market report are the U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, China, Japan, and India.

Automotive Smart Antenna Key Market Players & Competitive Insights

The key players operating in the Motorsports Market Include Ferrari, Mclaren Racing, Aston Martin, Platinium Group S.A.M., Grandstand Motor Sports, Hendrick Motorsports, Speedway Motorsports, LLC, Dale Coyne Racing, Toyota Motor Sales, U.S.A., Inc., NASCAR Media Group, among others. The Motorsports Market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have a strong reach globally as well as local market along with diverse product portfolios. Companies such as Ferrari, Mclaren Racing, Aston Martin dominate the Motorsports Market due to brand reputation, product differentiation, financial stability, and diversified regional presence.

The market is dynamic and competitive due to the presence of several international, regional, and local players that offer a comprehensive range of motorsports services. The market is highly competitive, with all the players continually competing to gain a larger market share. Companies across regions are implementing several growth initiatives to capitalize on the growing Motorsports Market.

Key Companies in the Motorsports Market include.

• Hendrick Motorsports


• Speedway Motorsports, LLC


• Dale Coyne Racing


• Ferrari


• McLaren Racing


• Platinium Group S.A.M.


• Grandstand Motor Sports


• Aston Martin Lagonda


• Toyota Motor Sales, U.S.A., Inc.


• NASCAR Media Group

Motorsports Industry Developments

• In December 2024, Ferrari announce that it has entered into an agreement with General Motors and TWG Global to supply the Cadillac Formula 1 Team with its power unit and gearbox starting in 2026.


• In November 2024, Aston Martin celebrated the pedigree of performance and British ultra-luxury craftsmanship with an unforgettable collection of notable models – ranging from iconic on-screen stars to its most potent V12 flagship ever, the recently revealed Vanquish V12 flagship and the AMR24 Formula 1 challenger – publicly displayed throughout select locations at Fontainebleau Las Vegas now through November 25.

Motorsports Market Segmentation

Motorsports Channel Outlook

• Broadcasting/Media Rights


• Ticketing


• Race Host Fees


• Advertiser/Sponsorship


• Merchandising


• Others

Motorsports Operational Entities Outlook

• Series Owner


• Race Teams


• Racetrack Owners & Local Race Organizers

Motorsports Racing Type Outlook

• Formula Racing


• Stock Car Racing


• Rally Racing


• Motorcycle Racing


• Drag Racing


• Off-Road Racing


• Touring Car Racing


• Kart Racing


• Sports Car Racing

Motorsports Participant Type Outlook

• Professional Racers


• Amateur Racers

Automotive Smart Antenna Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • UK
  
  
  • Germany
  
  
  • France
  
  
  • Italy
  
  
  • Spain
  
  
  • Russia
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • South Korea
  
  
  • Australia
  
  
  • Malaysia
  
  
  • Thailand
  
  
  • Indonesia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Middle East & Africa
  
  
  
  • GCC Countries
  
  
  • South Africa
  
  
  • Rest of Middle East and Africa
  
  
  
  


• South America
  
  
  
  • Brazil
  
  
  • Argentina
  
  
  • Rest of South & Central America
  
  
  
  

Report Attribute/Metric	Details
Market Size 2023	USD 14,704.0 million
Market Size 2024	USD 15,543.8 million
Market Size 2032	USD 30,268.2 million
Compound Annual Growth Rate (CAGR)	8.7 % (2024-2032)
Base Year	2023
Market Forecast Period	2024-2032
Historical Data	2019- 2022
Market Forecast Units	Value (USD Million)
Report Coverage	Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered	Channel, Operational Entities, Racing Type, and Participant Type
Geographies Covered	Europe, North America, Asia-Pacific, Middle East & Africa, and South America
Countries Covered	US, Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Japan, China, India, South Korea, Thailand, Malaysia, Indonesia, Saudi Arabia, UAE, South Africa, Brazil, Argentina, and Others.
Key Companies Profiled	·         Hendrick Motorsports ·         Speedway Motorsports, LLC ·         Dale Coyne Racing ·         Ferrari ·         McLaren Racing ·         Platinium Group S.A.M. ·         Grandstand Motor Sports ·         Aston Martin Lagonda ·         Toyota Motor Sales, U.S.A., Inc. ·         NASCAR Media Group
Key Market Opportunities	·         Expansion into emerging markets ·         Integration of augmented reality and virtual reality in fan engagement
Key Market Dynamics	·         Electrification and the rise of formula e ·         Increased focus on sustainability and green racing