Sports Cars - Denmark

Denmark

Highlights

Revenue in the Sports Cars market is projected to reach US$602m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.02%, resulting in a projected market volume of US$666m by 2029.
Sports Cars market unit sales are expected to reach 12.9k vehicles in 2029.
The volume weighted average price of Sports Cars market in 2024 is expected to amount to US$51k.
From an international perspective it is shown that the most revenue will be generated United States (US$20bn in 2024).

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Sports Cars market in Denmark has been experiencing steady growth in recent years. Customer preferences have shifted towards more fuel-efficient and environmentally friendly vehicles, leading to an increase in demand for electric and hybrid sports cars. Additionally, the rising popularity of luxury and high-performance vehicles has contributed to the growth of the market.

Customer preferences: In Denmark, customers are increasingly concerned about the environmental impact of their vehicles. As a result, there has been a significant shift towards electric and hybrid sports cars. These vehicles offer lower carbon emissions and reduced fuel consumption, aligning with the country's commitment to sustainability. Furthermore, customers are attracted to the advanced technology and innovative features that electric and hybrid sports cars offer.

Trends in the market: One of the key trends in the Sports Cars market in Denmark is the growing demand for luxury and high-performance vehicles. Danish consumers have a strong affinity for premium brands and are willing to invest in high-quality sports cars. This trend is driven by the desire for status and exclusivity, as well as the increasing disposable income of Danish consumers. Another trend in the market is the rise of car-sharing services and subscription models. These alternative ownership models provide customers with the flexibility to enjoy driving a sports car without the long-term commitment of ownership. Car-sharing services also appeal to environmentally conscious consumers who want to reduce their carbon footprint by sharing vehicles.

Local special circumstances: Denmark has a well-developed infrastructure for electric vehicles, including a dense network of charging stations. This has facilitated the adoption of electric and hybrid sports cars in the country. The government has also implemented various incentives to encourage the purchase of electric vehicles, such as tax exemptions and subsidies. These factors have created a favorable environment for the growth of the Sports Cars market in Denmark.

Underlying macroeconomic factors: The growth of the Sports Cars market in Denmark is also influenced by underlying macroeconomic factors. The country has a strong economy with high levels of disposable income, which enables consumers to afford luxury and high-performance vehicles. Additionally, low interest rates and favorable financing options make it easier for consumers to purchase sports cars. In conclusion, the Sports Cars market in Denmark is experiencing growth due to shifting customer preferences towards electric and hybrid vehicles, as well as the increasing demand for luxury and high-performance cars. The local special circumstances, such as a well-developed infrastructure for electric vehicles and government incentives, have further supported the market growth. The underlying macroeconomic factors, including a strong economy and favorable financing options, have also contributed to the positive development of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).