Global Motorsport Market By Racing Series (Formula One, MotoGP, NASCAR, GT, Off-Road, Touring Car, Stock Car), By Revenue Channel (Advertising and Sponsorship, Broadcasting, Ticketing, Merchandising, Others), By Application (Venue Racing, Non-Venue Racing), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2025-2034

Report Overview

The Global Motorsport Market size is expected to be worth around USD 16.7 Billion by 2034, from USD 6.8 Billion in 2024, growing at a CAGR of 9.4% during the forecast period from 2025 to 2034.

Motorsport, a global spectacle of speed and engineering prowess, encompasses all forms of motorized vehicle races. This includes high-octane disciplines such as Formula 1, NASCAR, and MotoGP.

The motorsport market is a dynamic sector characterized by significant fan engagement and a substantial economic footprint. According to Redbull, the 2025 season will set a new record with 24 races, highlighting the sport’s expanding calendar and its ability to draw crowds and sponsors.

Additionally, NASCAR’s extensive reach, sanctioning over 1,200 races annually across 11 countries and more than 30 U.S. states as per Flosports, underscores its widespread popularity and the logistical prowess that drives its operations. A 2023 survey found that approximately 11% of U.S. respondents are avid motorsport fans, illustrating a robust fan base that fuels viewership and merchandise sales.

The motorsport market is poised for growth, driven by increasing global interest and investment in sports entertainment. The expansion of race calendars suggests not only more events but also more opportunities for hosting cities and countries to benefit economically.

Government investments in sporting facilities and infrastructural developments to accommodate these large-scale events further amplify the market’s growth potential. Moreover, regulatory advancements are continuously shaping the safety standards and environmental compliance of racing events, making them more appealing to a broader audience.

Government involvement plays a crucial role in the sustainability and expansion of the motorsport industry. Investments in infrastructure, such as race tracks and associated facilities, boost local economies by creating jobs and attracting international tourists. Regulations are equally important, with an increasing focus on safety and environmental sustainability driving innovations in fuel technologies and vehicle designs.

These developments not only enhance the competitive nature of the sport but also align it with global sustainability goals, opening up new avenues for growth and investment in green technologies within the motorsport sector.

Overall, the motorsport market is at a fascinating juncture with ample opportunities for growth, backed by solid fan engagement, strategic government investments, and stringent but necessary regulations. As the market continues to evolve, stakeholders, including sponsors, teams, and host cities, stand to gain significantly from the sport’s global appeal and economic potential.

Key Takeaways

• The global motorsport market is projected to reach USD 16.7 billion by 2034, growing at a CAGR of 9.4% from 2025 to 2034.
• Formula One led the racing series segment in 2024, holding a 35.2% market share, driven by technological integration and strong global appeal.
• The Advertising/Sponsorship segment captured a 31.2% share in 2024, bolstered by digital platforms and increasing brand investments.
• Venue Racing dominated the application segment in 2024, with a 71.2% share, due to high popularity and major sponsorship investments in established venues.
• Europe remains the largest regional market, accounting for 45.3% of the global share, valued at approximately USD 3.06 billion in 2024.

Racing Series Analysis

Formula One Dominates Motorsport Market in 2024

In 2024, Formula One held a dominant market position in the By Racing Series Analysis segment of the Motorsport Market, with a 35.2% share. This dominance is attributed to its advanced technological integration, extensive global following, and lucrative sponsorship deals, which collectively enhance its market visibility and profitability.

MotoGP also secured a substantial market presence, thanks to its thrilling high-speed races and strong manufacturer endorsements, appealing deeply to motorcycle racing aficionados. NASCAR maintained a strong hold on its audience in North America through exciting stock car races, characterized by close, competitive interactions that resonated well with its fan base.

The GT series attracted attention with its luxury sports cars and endurance races, appealing to those interested in high-performance vehicles and long-duration contests. Off-Road racing appealed to enthusiasts of rugged, varied terrain races, while Touring Car races highlighted door-to-door action with vehicles that closely resemble consumer cars.

Stock Car racing continued to engage its niche audience, completing the spectrum of preferences in the Motorsport Market for 2024. Each segment’s unique characteristics cater to specific fan bases, driving the overall market dynamics.

Revenue Channel Analysis

Advertising/Sponsorship Leads with 31.2% Share in Motorsport Market’s Revenue Channel Analysis in 2024

In 2024, the Advertising/Sponsorship segment maintained a dominant position within the By Revenue Channel Analysis of the Motorsport Market, capturing a substantial 31.2% share. This dominance can be attributed to the growing role of digital platforms and social media in reaching global audiences, as well as the increasing investment from brands in motorsport-related promotions.

Sponsorships and advertising provide teams, events, and athletes with significant funding, while offering advertisers unparalleled exposure to a passionate and dedicated fan base.

Following Advertising/Sponsorship, the Broadcasting segment accounted for a notable share, benefiting from the broad viewership of motorsport events across television and digital media. The ticketing segment, while crucial to the overall market, represents a smaller portion of revenue, reflecting the shift towards digital engagement and alternative revenue streams.

Merchandising, though growing, remains a smaller contributor, with its potential linked to global fan base expansion and product diversification. The Others category, which includes ancillary revenues, rounds out the remaining market share, though its individual contributions are not as pronounced. Overall, these segments reflect the dynamic nature of motorsport revenue channels, with advertising and sponsorship leading the way.

Application Analysis

Venue Racing Captures 71.2% Market Share in Motorsport’s By Application Segment in 2024

In 2024, Venue Racing maintained a commanding position within the By Application segment of the Motorsport Market, securing a 71.2% market share. This dominance can be attributed to several factors, including the widespread popularity of racing events held at established venues, which continue to attract large-scale audiences and significant sponsorship investments.

The operational efficiencies and high-quality infrastructure provided by venue-based racing facilities further enhance the spectator and participant experience, making them the preferred platform for both competitive racing and commercial engagements.

Conversely, Non-Venue Racing, while growing, accounted for a smaller share in comparison. The segment benefits from the flexibility of location, offering a less constrained, often more cost-effective alternative to venue racing. However, challenges such as limited audience reach, logistical complexities, and less established revenue streams hinder its overall growth relative to its venue-based counterpart.

Nonetheless, Non-Venue Racing is expected to see incremental growth as alternative racing formats gain popularity among specific fan demographics and regional markets.

Key Market Segments

By Racing Series

• Formula One
• MotoGP
• NASCAR
• GT
• Off-Road
• Touring Car
• Stock Car

By Revenue Channel

• Advertising/Sponsorship
• Broadcasting
• Ticketing
• Merchandising
• Others

By Application

• Venue Racing
• Non-Venue Racing

Drivers

Increasing Sponsorship and Advertising Revenue Boosts Motorsport Market Growth

The motorsport market has witnessed significant growth driven by several key factors. One of the primary drivers is the increasing sponsorship and advertising revenue. As media coverage of motorsport events expands, the exposure attracts more sponsors and advertisers seeking to reach large, global audiences. This influx of funding not only helps sustain existing events but also facilitates the growth of new racing leagues and initiatives.

Additionally, the rising popularity of major global events such as Formula 1 and NASCAR has led to increased fan engagement, with higher viewership numbers and greater participation from both fans and athletes. This growing fanbase contributes to the market’s expansion, creating more opportunities for revenue generation.

Another critical factor is the expansion of motorsport events into emerging markets, particularly in regions such as Asia and the Middle East, where motorsports are rapidly gaining popularity. These regions are becoming hotbeds for new race events, further enhancing market reach.

Furthermore, the development of electric and hybrid racing engines, exemplified by the rise of Formula E, has sparked new interest in sustainable motorsports. This shift to more eco-friendly racing options is attracting fresh investments and a younger, environmentally-conscious fanbase. Together, these factors are fueling a dynamic and diverse growth trajectory for the motorsport industry.

Restraints

High Costs and Safety Concerns Pose Challenges to Motorsport Market Growth

Despite its growth, the motorsport market faces several restraints that could hinder its expansion. One of the main challenges is the high costs associated with participation and event management.

The substantial financial investments required to host races, manage logistics, and maintain competitive teams often serve as barriers, particularly for smaller or emerging racing leagues. This limits access to the sport and can reduce the frequency of events in certain regions, slowing market growth.

Furthermore, the inherent safety concerns related to high-speed racing remain a significant deterrent. Although technological advancements in car design and track safety have improved over time, the risk of accidents still looms large, both for drivers and spectators. These safety risks can discourage participation from aspiring drivers and limit the willingness of sponsors and fans to engage in the sport.

The fear of accidents or injuries at major events can also influence public perception, leading to a decline in viewership and attendance at races. Combined, the high operational costs and safety concerns present ongoing challenges for the motorsport market, making it more difficult for stakeholders to maintain profitability and grow the sport in certain regions. As such, addressing these issues remains crucial to sustaining long-term market development.

Growth Factors

Augmented Reality and Global Expansion Present Key Growth Opportunities in the Motorsport Market

The motorsport market is poised for continued growth through several emerging opportunities. One of the most promising developments is the use of virtual and  augmented reality (AR) technologies to enhance fan experiences. These immersive tools allow fans to interact with races in new ways, such as virtually sitting in the driver’s seat or experiencing the race from different angles, making the sport more engaging and accessible.

Additionally, the globalization of lesser-known racing series presents an opportunity to expand the sport’s reach beyond traditional markets. By promoting smaller or regional series on a global platform, motorsports can attract a wider audience and develop new fanbases, especially in untapped regions. Another significant opportunity lies in the development of motorsport academies aimed at training young talent.

These academies not only nurture the next generation of drivers but also generate interest from aspiring athletes and their families, creating a steady pipeline of future participants. Finally, the diversification of motorsports into leisure and tourism offers an exciting avenue for market expansion.

By integrating racing events with travel packages and exclusive experiences, motorsport organizations can attract tourists and create a more holistic experience, combining sport with leisure. These growth opportunities are instrumental in expanding the global appeal of motorsports and driving long-term success in the industry.

Emerging Trends

Electrification and Technology Integration Drive Key Trends in the Motorsport Market

The motorsport industry is undergoing several significant trends that are shaping its future. One of the most notable developments is the electrification of motorsport vehicles, as more racing circuits adopt electric vehicles (EVs), driven by the broader shift towards sustainability. This trend is most prominent in series like Formula E, which are gaining traction among fans and investors alike.

Sustainability practices are also becoming a core focus across the industry, with increased efforts to reduce the environmental impact of both vehicles and events, such as the use of eco-friendly materials and energy-efficient technologies.

Additionally, fan engagement is evolving through the creation of fan zones and interactive experiences. These innovations enhance the event experience by offering spectators opportunities to interact with the sport in new ways, from virtual reality experiences to driver meet-and-greets, thus helping to grow and retain audiences.

Furthermore, the integration of Internet of Things (IoT) technologies and wearable tech is transforming the way motorsport teams manage performance. Real-time data tracking, facilitated by wearable devices and sensors in vehicles, allows for more precise performance monitoring, providing teams with actionable insights that can improve race outcomes.

Together, these trends reflect the motorsport industry’s drive to innovate, cater to changing consumer preferences, and stay aligned with broader technological and sustainability movements, ensuring long-term growth and fan engagement.

Regional Analysis

Europe dominates the motorsport market with 45.3% share, driven by historical significance, major events, and strong industry infrastructure.

The global motorsport market is characterized by diverse regional dynamics, with Europe maintaining dominance in terms of both market share and revenue generation. Europe accounts for 45.3% of the global market, equating to an estimated value of USD 3.06 billion.

This dominance can be attributed to the region’s historical and cultural connection to motorsport, including iconic events like Formula 1, MotoGP, and Le Mans, which continue to draw large audiences and investments. Europe also benefits from a strong base of motorsport manufacturers, sponsors, and an established infrastructure for hosting major racing events, further solidifying its market leadership.

Regional Mentions:

North America holds the second-largest share of the motorsport market, driven by the popularity of NASCAR, IndyCar, and various off-road motorsports, alongside a growing fan base in both the United States and Canada. Additionally, North America’s robust automotive industry and increased sponsorship opportunities have fostered growth in motorsport-related activities.

The Asia Pacific region is experiencing rapid expansion, with increasing interest in motorsports, particularly in countries like Japan, China, and India. The region’s growing middle class, the rise of electric vehicle (EV) racing, and major investments in motorsport infrastructure are anticipated to further fuel market growth in the coming years.

The Middle East & Africa region represents a smaller portion of the global motorsport market. However, the region is emerging as a key player due to high-profile events such as the Abu Dhabi Grand Prix and increased investments in motorsport facilities.

Latin America is steadily gaining traction, particularly in countries like Brazil, which has a deep-rooted motorsport culture. As motorsport events and participation continue to increase, the region is poised for gradual growth in the near future.

Key Regions and Countries

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Key Players Analysis

The global motorsport market in 2024 is defined by competition, technological innovation, and brand partnerships, with key players such as Citroen Australia, Joe Gibbs Racing, Mercedes-Benz, and others continuing to shape the landscape.

Citroen Australia remains influential, particularly in the World Rally Championship (WRC), where its commitment to performance and innovation positions it as a dominant force in the motorsport sector. The company’s sustained investments in R&D to improve engine efficiency and vehicle handling are pivotal in maintaining its competitive edge.

Joe Gibbs Racing (JGR), a prominent team in the NASCAR Cup Series, benefits from strategic partnerships and robust sponsorships, ensuring a steady flow of revenue and performance enhancement. The team’s expertise in optimizing vehicle setup and race strategies continues to make it a key contender in NASCAR.

Mercedes-Benz, a leader in Formula 1, is poised to maintain its dominant market position through continuous advancements in hybrid technologies and high-performance engines. Their innovative engineering and global branding elevate their stature in motorsports, extending their appeal beyond racing to automotive technology consumers.

McLaren Group, with its focus on Formula 1 and sports car manufacturing, combines motorsport expertise with high-end automotive engineering. As it diversifies its operations, McLaren capitalizes on the synergy between F1 performance and luxury vehicle innovation.

Aston Martin Red Bull Racing, an iconic name in Formula 1, benefits from strong brand synergy and cutting-edge aerodynamic developments. Their partnership with Honda for powertrains adds significant technological depth, enabling them to remain competitive in F1’s ever-evolving landscape.

Together, these companies represent the technological, commercial, and strategic pillars that continue to drive the motorsport market forward in 2024.

Top Key Players in the Market

• Citroen Australia
• Joe Gibbs Racing
• Mercedes-Benz
• Hendrick Motorsports, LLC
• McLaren Group
• Aston Martin Red Bull Racing
• Team Penske
• Roush Fenway Racing
• Ferrari S.p.A.
• Toyota Motor Corporation

Recent Developments

• In January 2025, Roger Cook and WA Labor announced a multi-million dollar motorsports package aimed at enhancing the state’s racing infrastructure and attracting international events. This initiative is part of a broader strategy to boost tourism and local economic growth through motorsports.
• In September 2023, an Asia-based Formula 1 hopeful secured US$1 billion in funding, signaling a serious intent to enter the prestigious racing series. This financial backing is expected to bolster their bid for a competitive F1 team entry in the coming seasons.
• In February 2025, Northern Ireland’s governing body for motorcycling highlighted the need for enhanced safety funding, calling a £187,000 investment for road racing and motorsport events long overdue. The funding is seen as essential for improving safety measures and reducing risks for competitors and fans alike.

Report Scope