Popularity of Formula Racing Format is Driving the Motor Sports Market

“Motor racing sports is considered as one of the significant sports across the globe. The popularity of these racing competitions will drive the motorsports market. The broadcasting of this competition in television and increasing popularity in social netw”
Motorsports are competitive events held globally which uses highly optimized and customized motor vehicles for racing competition. There are different types of motor vehicles which are used in these competitions such as cars, bikes, go-karts, boats, trucks and snowmobiles and so on. The most popular of these involve cars and are generally called auto racing or automobile racing.

Amidst the global turmoil over oil prices, the automobile manufacturers are creating sustainable products to promote the growth of cars across the globe. In the recent times, the concept of Electric Vehicles (EV) has caught up rapidly with manufacturers aiming at providing cars running on batteries employing electric motors to propel them. The Formula One world is also putting efforts to promote the deployment of electric vehicles in the Formula Racing events for which they have created a distinct format of Formula E. 

The governments across the world are trying to facilitate the use of sustainable products that will create a niche market for Formula E and a whole new dimension for market revenue. The use of electric vehicles is also expected to have an increased participation between companies, experts and policy makers, suitable indicators towards encouraging the Formula viewership. On an average the collection from the Formula E ticket sales is estimated to be between $8m-$9m with 250 jobs to be generated during each Formula E race events. The Formula E Holdings, parent company for Formula E racing events has already reported an increase in investments by $40m while simultaneously targeting US and Asian markets that are open to change on wide perspectives.

Driven by the increase in number of races, advertisements and sponsorships, the revenue in the racing business is projected to surge. The motor racing business has become a popular franchise with more than 500 million viewers around the world and annual races to be raised to 22 in the coming years. Private equity firm CVC Capital is planning $12bn market capitalization for Formula One through an IPO on Singapore stock exchange this year. Formula One will be offering stapled securities consisting of shareholders loan’s equity and units that pays a coupon of 10% a year and maturing by November, 2060.

Europe is the dominant region for broadcasting the motorsports on television. Owing to the presence of management heads and the largest global viewership along with high end market for Formula Racing Championships; Europe accounted for the largest market share and is likely to grow in future. Furthermore, adoption of electric vehicle in the competitive events will expand the motorsports market.

Key players in the Motorsports market include:

  • Michelin Tyres Plc. (France),
  • MRF Limited (India),
  • Pirelli (Italy),
  • Red Bull GmbH (Austria),
  • Ferrari S.P.A (Italy),
  • Goodyear (U.S.),
  • McLaren Automotive Limited (U.K.),
  • Mercedes-Benz GmbH (Germany) and others.

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