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.

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 season had a cumulative attendance of over 6.5 million, representing an increase of around nine percent on the previous year. Attendances have been particularly strong following the lifting of coronavirus restrictions, with 2024 seeing over two million more attendees than 2019.

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.

In 2024, the Miami Grand Prix was watched by a U.S. TV audience of over three million, making it the most-watched race of the season. Meanwhile, the Monaco Grand Prix drew a TV audience of around 1.94 million.

The statistic displays the aggregate attendance of Formula 1 British Grand Prix in the United Kingdom (UK) from 2016 to 2021. Over the course of the event in 2021, approximately 356 thousand people attended the Formula 1 British Grand Prix.

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.

Formula One is a motorsport discipline sanctioned by the FIA and owned by Formula One group. In a survey conducted in May 2023, around 11 percent of Hispanic respondents in the United States were avid fans of Formula One.

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

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The motorsport market is expected to grow at a CAGR of 1% during the forecast period. Significant investments by sponsors, drivers.2, and drivers.3 are some of the significant factors fueling motorsport market growth.

Significant investments by sponsors

Motorsports involve organizing competitive race events of motorized vehicles. These events generally involve custom cars, trucks, motorcycles. Formula One (F1), National Association for Stock Car Auto Racing (NASCAR), IndyCar, and the World Rally Championship (WRC) are some of the popular motorsport events. F1 is the most popular among them, closely followed by IndyCar Series and NASCAR. The global motorsport market is segmented by type under the following categories: F1 NASCAR Other motorsports The geographic coverage of the report is global with the following segments: Europe North America APAC South America MEA The exhibit below provides an illustrative view of the offerings that are included to create the market definition of the global motorsport market. This market definition has a significant impact on the market sizing provided in the report.

As per Cognitive Market Research's latest published report, the Global Go Kart market size was valued at USD 142.08 Million in 2022. Go Kart Industry's Compound Annual Growth Rate will be 3.9% from 2023 to 2030. Factors Impacting on Go Kart Market

Increasing popularity for racing

Go-kart is one of the most popular motorsports among the millennials. The popularity is increasing day-by-day as number of racers are rising over the years. It has also been observed that some of the world renowned F1 racers have started off with casual karting at a very young age. They then moved on to take part in competitive races before joining the world of auto racing and Formula 1.

Further, karting involves wide array of go-karts, including off-road, racing, and pedal, electric and even drift karts. Each of these go-karts has a different application made by various go-kart manufacturers.

The availability of indoor and outdoor karting further enhances its demand as there is no barrier of weather while enjoying karting because of its indoor facility also. Nearly 35 million Americans participate in the sport of go karting every year.

Moreover, go-kart is relatively pocket friendly as compared to car racing. Those who want to go professional can get their own go-kart for somewhere between $3,000 and $8,000 from one of the leading manufacturers. This is also one of the factors that has enhanced its usage among youths.

Rise in the urbanization have stimulated surge in the number of race courses & country clubs. This has inclined consumer's interesting various fun activities such as racing and karting.

Increasing interest in motorsports and recreational pursuits is fueling the demand for go kart market

Hence, the popularity for go-kart racing is increasing which boost the growth of karting market across the globe.

The Restraining Factor of Go Kart:

High costs of the karts and infrastructure facilities. (Access Detailed Analysis in the Full Report Version)

Opportunities for Go Kart Market

Rising adoption of technological advancements in karting. (Access Detailed Analysis in the Full Report Version)

Introduction of Go Kart

Karting is a type of road racing in which drivers compete against one another in an open four-wheeled vehicles known as go-karts or shifter karts. Karting is practiced by many enthusiasts all over the world at varying levels of competition. It is the most popular form of motor sport among all age group of people who race go karts and use them as stepping stone to more advanced motor sports.

Karts comes in variety of forms from motor less models to high-powered, high-powered ones are for competitive racing such as Super Karts, able to beat racing cars on long circuits. Karts have no protective bodywork and smaller in size and height, driver sits few inches above the ground.

Some of the karts are capable of speeds 100 miles per hour with an incredible 18 horsepower to 90 horsepower. These karts are used on a large number of surfaces and custom tracks for karting. Dirt tracks and ice tracks are most commonly used tracks for racing.

There are different types of karting such as indoor and outdoor karting. Indoor karts are safe and tends to be more solid, while outdoor karts normally bigger and can easily overtake other drivers. Karting generally have two purposes; rental and racing. Rental karting is for the beginners who wants to learn karting and racing is for the competitive racing purpose.

Sprint racing, endurance or road racing, and speedway racing are the three main categories of karting competition. In addition, ice racing, Formula Kart Experimental racing, and Super Kart racing have all developed as new forms of karting competition.

Nowadays, increasing technological advancement such as solar-powered, electric go karts are creating the opportunity to increase the courses and country clubs for karting. Thus, the popularity of motor sport is increasing among all age group people.

As per Cognitive Market Research's latest published report, the Global Karting market size will be $134.54 Million by 2028. Karting Industry's Compound Annual Growth Rate will be 4.32% from 2023 to 2030.

The North America Karting market size will be USD 44.49 Million by 2028.

What are the key driving factors for the Karting market?

Increasing popularity for racing

Go-kart is one of the most popular motorsports among the millennials. The popularity is increasing day-by-day as number of racers are rising over the years. It has also been observed that some of the world renowned F1 racers have started off with casual karting at a very young age. They then moved on to take part in competitive races before joining the world of auto racing and Formula 1.

Further, karting involves wide array of go-karts, including off-road, racing, and pedal, electric and even drift karts. Each of these go-karts has a different application made by various go-kart manufacturers.

The availability of indoor and outdoor karting further enhances its demand as there is no barrier of weather while enjoying karting because of its indoor facility also. Nearly 35 million Americans participate in the sport of go karting every year.

Moreover, go-kart is relatively pocket friendly as compared to car racing. Those who want to go professional can get their own go-kart for somewhere between $3,000 and $8,000 from one of the leading manufacturers. This is also one of the factors that has enhanced its usage among youths.

Rise in the urbanization have stimulated surge in the number of race courses & country clubs. This has inclined consumer's interesting various fun activities such as racing and karting.

Hence, the popularity for go-kart racing is increasing which boost the growth of karting market across the globe.

Restraints for Karting Market

High costs of the karts and infrastructure facilities.(Access Detailed Analysis in the Full Report Version)

Opportunities for Karting Market

Rising adoption of technological advancements in karting.(Access Detailed Analysis in the Full Report Version)

What is Karting?

Karting is a type of road racing in which drivers compete against one another in an open four-wheeled vehicle known as go-karts or shifter karts. Karting is practiced by many enthusiasts all over the world at varying levels of competition. It is the most popular form of motor sport among all age group of people who race go karts and use them as stepping stone to more advanced motor sports.

Karts comes in variety of forms from motor less models to high-powered, high-powered ones are for competitive racing such as Super Karts, able to beat racing cars on long circuits. Karts have no protective bodywork and smaller in size and height, driver sits few inches above the ground.

Some of the karts are capable of speeds 100 miles per hour with an incredible 18 horsepower to 90 horsepower. These karts are used on a large number of surfaces and custom tracks for karting. Dirt tracks and ice tracks are most commonly used tracks for racing.

There are different types of karting such as indoor and outdoor karting. Indoor karts are safe and tends to be more solid, while outdoor karts normally bigger and can easily overtake other drivers. Karting generally have two purposes; rental and racing. Rental karting is for the beginners who wants to learn karting and racing is for the competitive racing purpose.

Sprint racing, endurance or road racing, and speedway racing are the three main categories of karting competition. In addition, ice racing, Formula Kart Experimental racing, and Super Kart racing have all developed as new forms of karting competition.

Nowadays, increasing technological advancement such as solar-powered, electric go karts are creating the opportunity to increase the courses and country clubs for karting. Thus, the popularity of motor sport is increasing among all age group people.

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.

Ferrari was the most valuable Formula 1 team in 2023, being worth around 3.9 billion U.S. dollars. Meanwhile, Mercedes was not far behind, having a team value of approximately 3.8 billion U.S. dollars.

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.