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.

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.

This statistic illustrates the percentage increase in Formula One (F1) racing TV viewers over the previous year in selected countries worldwide in 2020. According to the source, the TV audience for Formula One in China grew by ** percent in 2020.

This statistic illustrates the number of TV viewers of selected Formula One (F1) Grands Prix worldwide in 2020. The highest number of TV viewers during the 2020 F1 season tuned into the Hungarian Grand Prix. Approximately ***** million viewers worldwide watched Lewis Hamilton claim his eighth career win at the Hungaroring in Hungary.

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 1.1 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 Formula 1 racing car market, while niche, represents a high-value segment within the broader motorsport industry. Driven by technological innovation, increasing global viewership, and lucrative sponsorship deals, the market is experiencing steady growth. While precise market size figures are unavailable, considering the involvement of major automotive manufacturers like Ferrari, Mercedes-Benz, and McLaren, and the substantial investments in research and development, a conservative estimate places the 2025 market size at approximately $1.5 billion USD. This is based on extrapolation from similar high-performance automotive sectors and factoring in the unique high-value nature of F1 cars. A Compound Annual Growth Rate (CAGR) of 5% is a reasonable projection for the forecast period (2025-2033), reflecting ongoing technological advancements and the enduring global appeal of Formula 1. Key growth drivers include the increasing adoption of hybrid and sustainable technologies within the sport, the expansion of the Formula 1 calendar into new global markets, and the continued engagement of a passionate and dedicated fan base across various media platforms. Market segmentation shows a strong demand in applications such as television broadcasting and the sports industry, with acceleration capabilities of less than 2.5 seconds for 100 kilometers being a highly sought-after feature. However, restraints such as stringent regulations, high manufacturing costs, and the cyclical nature of sponsorship deals pose challenges to consistent market expansion. Europe and North America currently dominate market share, but the Asia-Pacific region presents significant growth potential due to rising disposable incomes and increasing motorsport enthusiasm. The competitive landscape is characterized by intense rivalry among leading manufacturers, each striving for technological superiority and performance gains. This competition fuels innovation and drives technological advancements that indirectly benefit the wider automotive industry. The future of the Formula 1 racing car market is promising, with continued growth expected as the sport evolves and adapts to changing global trends. This includes the growing emphasis on sustainability and the ongoing exploration of new technologies. The strategic partnerships between manufacturers and technology companies will play a pivotal role in shaping the future trajectory of the market, making the sector attractive for both investment and innovative development.

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.

The global race car market is a dynamic and high-growth sector, projected to reach a substantial market size. While the exact market size for 2025 is not provided, considering the presence of major automotive manufacturers like Ferrari, Mercedes-Benz, and Toyota, alongside a strong presence across various regions (North America, Europe, Asia-Pacific), a reasonable estimate for the 2025 market size would be in the range of $10 Billion USD. This estimation considers the significant investment in research and development, technological advancements (e.g., hybrid and electric race car technologies), and the increasing popularity of motorsport globally. The market is fueled by several key drivers, including rising disposable incomes in developing countries fostering increased participation in motorsport activities, technological advancements leading to enhanced performance and safety features, and the growing popularity of esports and simulated racing, increasing the visibility and appeal of the sport. Furthermore, professional racing series, like Formula 1, continue to attract substantial global viewership and sponsorship, further driving market expansion. The market's Compound Annual Growth Rate (CAGR) is also crucial in understanding its future trajectory. Assuming a CAGR of 5% (a conservative estimate given market dynamics), the market will experience considerable expansion over the forecast period (2025-2033). This growth will be influenced by several factors, including ongoing technological innovation, the expansion of racing series into new geographic markets, and the increasing influence of motorsport-related entertainment and media. However, potential restraints, such as stringent emission regulations and rising production costs, could impact the overall growth rate. The market segmentation by type (professional, amateur, and production cars) and application (on-roading, off-roading, and production race cars) presents a diverse landscape, allowing for strategic analysis and tailored approaches for different market segments.

Motorsports Market Outlook

The global motorsports market size was valued at approximately USD 5.8 billion in 2023 and is projected to reach USD 9.4 billion by 2032, expanding at a CAGR of 5.2% from 2024 to 2032. The growth of the market is attributed to various factors, including increasing global interest in motorsports events, technological advancements in vehicles, and the rising popularity of electric racing formats.

The surge in global interest in motorsports events is one of the primary drivers of market growth. With a wider range of races being organized around the world, from Formula 1 to MotoGP, the fanbase has been expanding rapidly. This increase in viewership translates to higher ticket sales and greater revenue generation from broadcasting rights. Additionally, the integration of advanced technologies in racing cars and bikes, such as telemetry, AI-driven analytics, and electric powertrains, has not only enhanced the performance of the vehicles but also piqued the interest of tech-savvy audiences.

Moreover, the growing popularity of electric racing formats, such as Formula E, has opened new avenues for the motorsports market. These eco-friendly racing events attract a younger demographic that is more environmentally conscious, thereby broadening the traditional fanbase. This shift towards sustainable motorsports is further supported by major automotive manufacturers and technology companies, who see electric racing as a platform for innovation and testing new technologies that can be transferred to consumer vehicles.

Sponsorship and branding opportunities in motorsports have also fueled market expansion. Companies across various sectors, from automotive to consumer goods, invest heavily in sponsorship deals to enhance their brand visibility through motorsports. The high-speed, high-stakes nature of the sport makes it an attractive advertising platform, providing companies with a unique way to engage with a diverse and passionate audience. This influx of sponsorship revenue has been a significant boost to the financial health of motorsports organizations.

Regionally, North America and Europe remain the largest markets for motorsports, driven by well-established racing cultures and significant investments in infrastructure. However, the Asia Pacific region is expected to exhibit the highest growth rate during the forecast period. The increasing number of racing events, rising disposable incomes, and growing interest in motorsports among the younger population are key factors contributing to this regional growth. Countries like China, Japan, and India are emerging as new hubs for motorsports activities, adding to the market's dynamism.

Type Analysis

Within the motorsports market, the type segment is pivotal and comprises car racing, motorcycle racing, off-road racing, kart racing, and others. Car racing remains the most popular and lucrative segment, driven by iconic events such as Formula 1, NASCAR, and Le Mans. These events attract millions of viewers worldwide, generating substantial revenue from ticket sales, sponsorships, and broadcasting rights. The high stakes and technological advancements in car racing make it a continually evolving segment, keeping audiences engaged and sponsors interested.

Motorcycle racing, including MotoGP and Superbike World Championship, holds a significant share of the market. This segment appeals to a different subset of motorsport enthusiasts who appreciate the skill and agility required for motorcycle racing. The global fanbase for motorcycle racing is robust, with strong followings in Europe, Asia, and Latin America. Technological innovations in motorcycles, such as enhanced safety features and performance upgrades, continue to drive interest and investment in this segment.

Off-road racing, including events like the Dakar Rally and Baja 1000, caters to adventure and extreme sports enthusiasts. This segment is characterized by its unique challenges, such as rugged terrains and extreme weather conditions, which test both the vehicles and the drivers. The growing popularity of off-road racing events is linked to the increasing consumer interest in adventure sports and outdoor activities. Sponsorship and media coverage are expanding in this segment, contributing to its growth.

Kart racing serves as the breeding ground for future motorsports talent, making it an essential part of the market. This segment is particularly popular among younger participants and provides a pathway to professional racing careers. Kart racing events are held globally, with a strong

The Formula 2 (F2) racing car market is experiencing robust growth, driven by increasing popularity of motorsport, technological advancements in car design, and lucrative broadcasting deals. While precise market size figures for 2025 are unavailable, a reasonable estimation, considering the substantial investment in the sport and its global reach, places the market value at approximately $250 million. Assuming a conservative Compound Annual Growth Rate (CAGR) of 8% over the forecast period (2025-2033), based on the anticipated expansion of the motorsport industry and technological innovations in F2 car manufacturing, the market is projected to reach a value exceeding $500 million by 2033. Key drivers include the increasing global viewership of F2 races, sponsorship opportunities, and the role of F2 as a feeder series for Formula 1, attracting significant investment from automotive manufacturers. The market is segmented by application (sports industry, television broadcasting, public welfare, others) and vehicle type (acceleration under 2.5 seconds to 100 kilometers, and acceleration over 2.5 seconds to 100 kilometers), each contributing differently to the overall market growth. The involvement of major automotive brands like Ferrari, Mercedes-Benz, and McLaren underscores the technological advancement and prestige associated with F2 racing, further bolstering market growth. The geographic distribution of the F2 market reflects the global popularity of motorsport. Europe and North America currently hold significant market share, due to established racing infrastructure and high viewership. However, the Asia-Pacific region shows promising potential for future growth, fueled by the rising middle class and increasing interest in motorsport events within countries like China and India. While regulatory hurdles and economic fluctuations could pose potential restraints, the overall outlook for the F2 racing car market remains positive, propelled by sustained fan interest and the continued technological development within the sport. Strategic partnerships between teams, broadcasters and sponsors are expected to further expand the market during the forecast period.

The Formula 2 (F2) racing car team market, while smaller than Formula 1, exhibits significant growth potential driven by increasing global motorsport interest, lucrative sponsorship opportunities, and the feeder series nature of F2 attracting future F1 stars. The market's value in 2025 is estimated at $250 million, considering the substantial investments made by teams, sponsors, and broadcasters. A Compound Annual Growth Rate (CAGR) of 8% is projected through 2033, reaching an estimated market value of $500 million. This growth is fueled by several key trends: the rising popularity of esports and virtual racing experiences which extend F2’s reach, the increasing broadcasting revenue through expanded global viewership, and technological advancements in car design and performance leading to more exciting and engaging races. Key market segments include the applications (Sports Industry, Television Broadcasting, and Public Welfare) as well as ownership types (Own Car Fleet and Fleet of other vehicles). While geographic data is incomplete, North America and Europe are expected to hold the largest market shares, driven by robust motorsport cultures and established broadcasting networks. However, restraints include the high costs of entry, potentially limiting new team participation, and the dependence on sponsor funding, making market stability contingent on sponsorship deals. The presence of established manufacturers like Ferrari, Mercedes-Benz, and others signals their belief in the long-term prospects of the market. The competitive landscape is intense, with teams vying for driver talent, sponsorship, and technological advantages. Success hinges on securing high-performing drivers who can attract sponsors and win races. The broader market's growth is also influenced by the success of Formula 1, with F2’s visibility boosted as a stepping stone to the premier motorsport series. Successful marketing and branding efforts also play a critical role in attracting sponsors and fans, leading to a more financially sustainable and competitive racing environment. While economic downturns could impact sponsorship, the relative cost-effectiveness compared to F1 should provide some degree of market resilience. The future will likely see increased technological innovation, potentially incorporating sustainable technologies, driving further growth in this dynamic and exciting sector.

According to Cognitive Market Research, the global Racing Tire Market size is USD 11254.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 5.80% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 4501.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 3376.26 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 2588.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.8 % from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 562.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2 % from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 225.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.
The motorcycle racing tires segment had the largest share in the global Racing Tire Market by application.

Market Dynamics of Racing Tire Market

Key Drivers of Racing Tire Market

Increase in the Appeal and Interest Of Motorsports Competitions to Boost Market Growth

The increasing popularity and viewership of motorsports events like Formula 1, NASCAR, and various other racing competitions have led to a notable surge in the demand for racing tires. These events attract a vast global audience, providing tire manufacturers with a lucrative platform to showcase their products. As more individuals engage with motorsports, the necessity for high-quality, performance-driven racing tires continues to escalate.

This surge in motorsports' popularity is driving the racing tire demand. Manufacturers must constantly innovate and enhance racing tires to capitalize on market growth. For instance, in September 2023, Pirelli adjusted its Formula 1 testing schedule for the remainder of the year to finalize tires for the 2024 season. Alpine and Red Bull tested prototype tires at Monza after the Italian Grand Prix, followed by testing across Japanese and Mexican Grands Prix. Pirelli focused on developing non-blanket tires, hoping for approval for the 2024 season use.

Advancements in Automotive Technology Fueling the Racing Tire Market 

One key driver in the racing tire market is the continuous advancement of automotive technology and engineering. As automotive manufacturers strive to enhance the performance and efficiency of racing vehicles, there is a growing demand for racing tires that can complement these technological innovations. This driver pushes racing tire manufacturers to develop and produce tires with superior grip, durability, and handling capabilities, meeting the stringent requirements of professional racing teams and drivers. Additionally, advancements in tire compounds, tread designs, and construction materials contribute to improved performance on various track surfaces, leading to heightened competition among tire manufacturers to deliver cutting-edge solutions that optimize vehicle performance and ensure a competitive edge in motorsports events.

Restraint Factors Of Racing Tire Market

Challenges associated with safety and performance regulations to Limit Market Growth

Racing tire manufacturers face stringent safety and performance guidelines set by regulatory bodies and motorsports organizations. These standards, aimed at ensuring driver and spectator safety and promoting fair competition, pose challenges as they evolve. Adapting to these changes can be costly, requiring adjustments in tire design and materials. Navigating regulatory hurdles can hinder innovation and development in racing tires. Manufacturers must invest in research and development to meet updated standards, leading to increased production expenses. Non-compliance may lead to legal repercussions and harm a manufacturer's reputation. Striking a balance between performance, cost-efficiency, and regulatory adherence is essential for sustained growth and competitiveness in the racing tire market.

Impact of COVID-19 on the Racing Tire Market

The COVID-19 pandemic caused a substantial disruption in the racing tire market, particularly due to the suspension or postponement of major...

The Formula 2 (F2) racing car market, while smaller than Formula 1, represents a significant and dynamic segment within the motorsport industry. Its role as a feeder series to F1 drives considerable interest from teams, sponsors, and fans, influencing its growth trajectory. Considering the high-performance nature of F2 cars and the technological advancements constantly integrated, we can estimate the 2025 market size to be around $150 million, reflecting the investment in vehicle manufacturing, team operations, and associated commercial activities. A Compound Annual Growth Rate (CAGR) of 7% from 2025 to 2033 seems reasonable, projecting market expansion fueled by increasing global viewership, sponsorship deals, and technological innovation in racing car design. Key drivers include the increasing popularity of motorsport globally, attracting a wider audience and higher sponsorship revenues. Furthermore, advancements in aerodynamics, engine technology, and lightweight materials continually push the technological boundaries, further enhancing the appeal of F2 racing for both participants and viewers. Potential restraints include the economic climate affecting sponsorship and team budgets, as well as the inherent risks and costs associated with professional motorsport. Segmentation includes chassis manufacturers, engine suppliers, team sponsors, and broadcasting rights holders. Major players like Ferrari, Mercedes-Benz, and others contribute to the technological prowess and brand recognition associated with F2. The regional distribution likely favors established motorsport markets like Europe and North America, with Asia-Pacific showing gradual growth. The F2 market's projected growth underscores its importance within the motorsport ecosystem. The interplay between technological innovation, global interest, and the feeder series nature of the championship ensures a competitive and evolving landscape. As the sport continues to attract younger audiences and sponsorships move towards digital platforms, adapting to these evolving trends will be key for all stakeholders involved in the F2 ecosystem. The forecast period suggests continued expansion, with potential for even higher growth if technological advancements attract new investors and further enhance the viewing experience. However, maintaining cost-effectiveness and ensuring accessibility for rising stars within motorsport will remain crucial for long-term sustainability and growth.

The global racing car market is experiencing robust growth, driven by increasing participation in motorsport events, technological advancements in vehicle design and performance, and a rising demand for high-performance vehicles among affluent consumers. The market size in 2025 is estimated at $15 billion, exhibiting a Compound Annual Growth Rate (CAGR) of 7% from 2025 to 2033. This growth is fueled by several key factors. The professional segment is a significant contributor, with Formula 1 and other major racing series attracting substantial investments and global viewership. Technological innovations, including the use of lightweight materials, advanced aerodynamics, and hybrid powertrains, are continuously enhancing vehicle performance and driving market expansion. Furthermore, the growing popularity of amateur racing and sim racing is expanding the market's reach beyond professional circuits. Geographic expansion, particularly in rapidly developing economies, is contributing to the overall market growth. However, the market also faces certain restraints. The high cost of manufacturing and maintaining racing cars limits accessibility for many individuals and teams. Stringent safety regulations and environmental concerns regarding emissions are also impacting the industry. Despite these challenges, the market's future outlook remains positive, driven by the enduring appeal of motorsport and continuous technological advancements. The increasing adoption of sustainable practices within the racing industry, such as the development of electric and hybrid racing cars, is expected to mitigate some of the environmental concerns and further drive market growth in the long term. The segmentation, encompassing professional and amateur racing, alongside various applications like on-roading, off-roading, and world racing car production, further underscores the diverse avenues for market expansion.

Snapshot img

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.

The market is experiencing significant growth, driven by substantial investments from sponsors and the evolution of Formula E. This shift towards motosport transmission to electric racing reflects the broader trend towards sustainable energy solutions and increasing consumer interest in innovative technologies. Simultaneously, the integration of advanced electronics and safety systems in motor racing telematics vehicles has led to a notable increase in insurance costs. This trend underscores the growing complexity of motorsport technology and the need for robust risk management strategies.
As the industry continues to innovate and adapt to changing consumer preferences and technological advancements, companies must navigate these challenges to capitalize on the market's potential and maintain a competitive edge.

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

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free Sample

The market continues to evolve, with dynamic shifts in vehicle dynamics, GT racing, driver training, team management, and various sectors. GT racing showcases advanced suspension systems and chassis designs, pushing the boundaries of performance. Driver training and team management are crucial, with technical partnerships and driver contracts shaping team dynamics. Event management, motorcycle racing, and technological innovation intertwine, as safety regulations and endurance racing demand advanced composites and engine performance. Engine manufacturers innovate, developing high-performance materials and lightweight components. Sustainability initiatives gain traction, with parts suppliers focusing on manufacturing processes and digital marketing strategies. Telemetry systems and data acquisition provide valuable insights, enhancing race management and fan engagement.

Trackside advertising, digital signage, and virtual reality (VR) pit crew training revolutionize marketing efforts. Augmented reality (AR) and fan engagement platforms offer immersive experiences, while tire technology and fuel injection systems optimize vehicle performance. Rally racing, off-road racing, and hybrid vehicles expand the market, with tire suppliers and gaming simulations catering to diverse fan bases. Regulations and standards evolve, ensuring safety and fair competition. The motorsport landscape remains a dynamic, innovative, and ever-changing industry.

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, spearheaded by Formula One (F1), has a rich history dating back to the European Grand Prix championship in the 1920s and 1930s. F1's legacy is marked by its rigorous chassis design, technical partnerships, and race management. Initially, both championship series and non-championship series coexisted, but the latter was discontinued in 1983 due to escalating costs. Sponsorship has been a significant contributor to the market's growth. However, the FIA's ban on cigarette sponsorship in 2001 led to a decline, which was later offset by car manufacturers' increased involvement as sponsors. This trend continues, with the value of sponsorship steadily rising each year.

Sustainability initiatives, such as the adoption of advanced composites and lightweight materials, are gaining traction in the market. Manufacturing processes are being optimized to reduce environmental impact, while safety regulations are being stringently enforced to prioritize driver safety. GT racing, endurance racing, and motorcycle racing are popular segments, each with unique vehicle dynamics and performance testing requirements. Parts suppliers, suspension systems, braking systems, and tire technology play crucial roles in the market. Technical regulations ensure fair co

The statistic shows the FIA Formula One World Championship Singapore Grand Prix television audience in Italy in 2018 and 2019. In 2019, the live event on Sky was watched by *** million viewers on average, while Tv8 broadcasted the competition reporting a viewership of *** million people.

The global motorsports market is a dynamic and expansive industry, projected to reach $2301 million in 2025 and demonstrate a Compound Annual Growth Rate (CAGR) of 1.5% from 2025 to 2033. This growth is fueled by several key drivers. Increased media coverage, particularly through streaming platforms and dedicated sports channels, significantly expands the audience and generates substantial advertising/sponsorship revenue. The rising popularity of esports and simulation racing further broadens the market's reach, attracting a younger demographic and fostering engagement beyond traditional track events. Technological advancements in vehicle design and safety features, along with the continuous evolution of racing formats, also contribute to this market's expansion. While the growth is steady, potential restraints include economic downturns that can affect sponsorship and ticket sales, and concerns about environmental sustainability within the sport. The segmentation reveals diverse revenue streams, with broadcasting, ticketing, and merchandising contributing significantly. Venue racing continues to dominate, but non-venue racing, including esports and sim racing, is experiencing substantial growth, presenting exciting opportunities for expansion and diversification within the industry. Key players like Mercedes-Benz, Red Bull Racing, and Ferrari influence the market's trajectory through their performance, technological innovation, and brand influence. The geographic distribution of the motorsports market reflects varying levels of engagement. North America, particularly the United States, holds a significant market share, driven by the popularity of NASCAR and other racing series. Europe, home to Formula 1 and other prominent championships, also boasts a substantial market share. However, emerging markets in Asia-Pacific and the Middle East & Africa show promising growth potential, driven by rising disposable incomes and increasing interest in motorsports. The strategic expansion of racing events and the growing popularity of motorsports-related entertainment, such as themed parks and experiential events, further contribute to the industry’s global reach and appeal. Market participants are focused on developing innovative strategies to engage diverse audiences and tap into new revenue streams, positioning motorsports for continued growth in the years to come.

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.

The statistic shows the FIA Formula One World Championship United States Grand Prix television audience in Italy in selected years in 2018, by TV platform. As of the survey period, the number of Sky viewers reached 664 thousand viewers.