This statistic illustrates the number of Formula One (F1) racing TV viewers worldwide from 2008 to 2021. According to the source, the global audience for Formula One in 2021 stood at *** million viewers, an increase of roughly three percent to the previous year.

The 2024 F1 World Championship attracted an average TV audience of *** million in the United States, representing no change on the previous year. Meanwhile, the 2022 F1 season drew an average U.S. TV audience of *** million, representing an all-time record.

In the U.S., the average Formula 1 viewership per race generally increased between 2017 and 2023, reaching over *** million in 2022 and 2023. While the number decreased during 2020 due to the Covid-19 pandemic, the figure grew again after that year.

The average number of Formula One (F1) racing TV viewers worldwide per Grand Prix in 2021 stood at **** million. This represents a decrease from the previous year's average value of **** million viewers per Grand Prix.

Home of the British Grand Prix, the Formula One grand prix at Silverstone unsurprisingly drew a large average live television audience in the United Kingdom. Just under **** million UK viewers tuned in to watch the race at Silverstone in 2021, which was broadcast both on Sky Sports and Channel 4.

In 2024, the attendance of the British Grand Prix amounted to around 480,000, making it the best-attended F1 race of that year. Meanwhile, the attendance of the Australian Grand Prix totaled over 450,000.

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Motorsport Market Size 2025-2029

The motorsport market size is forecast to increase by USD 10.79 billion, at a CAGR of 4.3% between 2024 and 2029.

Major Market Trends & Insights

Europe dominated the market and accounted for a 47% growth during the forecast period.
By the Type - F1 segment was valued at USD 15.67 billion in 2023
By the Application - Venue racing segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 33.81 billion
Market Future Opportunities: USD 10.79 billion 
CAGR : 4.3%
Europe: Largest market in 2023

Market Summary

The market is a dynamic and technologically advanced industry, characterized by continuous innovation and evolution.This growth can be attributed to several factors, including the increasing popularity of motorsports as a form of entertainment and the integration of advanced technologies in racing vehicles. One notable trend is the rise of electric racing series, such as Formula E, which has seen a surge in sponsorship deals and viewership numbers. This shift towards sustainable racing is driving the adoption of electric powertrains and advanced battery technologies.
Furthermore, the inclusion of advanced electronics and safety systems in racing vehicles has led to a marked increase in the cost of insurance, highlighting the growing complexity and sophistication of the motorsport industry. Despite these challenges, the market's future looks promising, with ongoing research and development efforts focused on improving vehicle performance, reducing emissions, and enhancing spectator experiences. As technology continues to play an increasingly important role in motorsports, the industry is poised to offer exciting new opportunities for businesses and enthusiasts alike.

What will be the Size of the Motorsport Market during the forecast period?

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The market exhibits a steady expansion, with current participation estimated at approximately 50 million spectators and 1.5 million competitors worldwide. This figure represents a substantial increase from previous years, underscoring the market's continuous growth. Looking ahead, industry experts project a steady annual expansion rate of around 3% over the next five years. A notable comparison lies in the increasing integration of technology within motorsport. For instance, advanced data logging systems have become standard, enabling real-time performance monitoring and analysis. Furthermore, the adoption of hybrid powertrain systems has gained traction, with electric motor efficiency improvements driving significant advancements.
These technological advancements have led to increased competition and innovation, further fueling market expansion. Moreover, the market's focus on safety has seen the widespread implementation of safety harness systems, fire suppression systems, and tire pressure monitoring, among other safety features. These improvements not only enhance driver safety but also contribute to the overall growth of the market.

How is this Motorsport Industry segmented?

The motorsport industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  F1
  MotoGP
  NASCAR
  Others


Application

  Venue racing
  Non-venue racing


Wheel Type

  4-Wheelers
  2-Wheelers


Revenue Stream

  Broadcasting Revenue
  Ticketing Revenue
  Merchandising Revenue
  Advertising/Sponsorship Revenue
  Race Hosting Fees Revenue
  Others


Geography

  North America

    US
    Canada
    Mexico


  Europe

    France
    Germany
    The Netherlands
    UK


  Middle East and Africa

    UAE


  APAC

    Australia
    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Type Insights

The f1 segment is estimated to witness significant growth during the forecast period.

The market, with a significant focus on Formula One (F1), continues to evolve and expand, driven by advancements in technology and increasing sponsorship investments. Chassis setup parameters and powertrain thermal management are critical areas of research, with tire compound selection and sensor Data Integration playing essential roles in optimizing performance. Telemetry data acquisition and race strategy simulation are key components of pit stop optimization, while gearbox optimization and performance enhancing software are crucial for maximizing power output. Friction reduction technologies, driver training programs, and computational fluid dynamics (CFD) simulation techniques are integral to enhancing vehicle efficiency and reducing emissions.

Electronic control un

In 2025, younger adults in the United States tended to have more interest in Formula One, with ** percent of people aged between 18 and 29 following the racing series closely. Meanwhile, only ***** percent of those aged 65 and over did the same.