The global electric supercar market will grow at a compound annual growth rate of nearly 39% from 2019 to 2023

According to a report released by Technavio, an international market research institute, the global electric supercar market size will grow by 6,890 units
between 2019 and 2023.

Growing environmental concerns have prompted governments around the world to reduce their dependence
on fossil fuels by promoting the development of electric vehicles.
Many European countries have set targets
to achieve environmental sustainability.
For example, the Norwegian government has set a goal
of switching to pure electric vehicles by 2025.
Similarly, other European countries such as the Netherlands, the United Kingdom, France and Germany are also planning to switch to all-electric vehicles
by 2050.
In addition, increasingly stringent limits on permissible CO2 have prompted the widespread adoption of electric vehicles
in Europe.

As far as developing countries are concerned, countries such as India and China are encouraging electric vehicles
through various initiatives.
The Indian government has initiated faster adoption and manufacturing of hybrid and electric vehicles (FAME) under the 2020 national plan NEMMP to encourage the adoption
of electric vehicles in the country.

China's introduction of new emission standards has boosted the development of the electric vehicle industry
.
The country offers parking fee incentives, road use incentives, purchase subsidies, and charging incentives to encourage the popularization of electric vehicles
.
The presence of such favorable government regulations across the globe is one of the
key factors driving the growth of the global electric supercars market.

The development of pure electric supercars is expected to be a major trend
in this market by 2023.
Strict regulations by governments, such as mandatory WLTP testing procedures, have affected the development of
all-electric supercars.
This has prompted automakers to focus on developing high-performance vehicles
with zero emissions.
Automakers are using lightweight materials such as carbon fiber to build bodies and chassis, and adopt dynamic concepts
in their designs.
Last year, Volkswagen announced the launch of the all-electric supercar I.
D R Pikes Peak
.
The car is capable of achieving higher speeds
than F1 and Formula E models.
Many such advancements among automakers will drive the growth of the global electric supercars market size, growing at a CAGR of nearly 39%
between 2019 and 2023.

In terms of the market, the global market is fragmented and not highly concentrated, and the main top electric supercar manufacturers include BMW, Ferrari, Koenigsegg, Tesla and Volkswagen.

In terms of type, pure electric supercars will account for the largest share
during the forecast period.
Many market vendors are building ?? Partnership to develop electric supercars and advanced battery technology
.
Some suppliers are developing solid-state battery technology
with improved fast charging capabilities and higher energy density compared to lithium-ion batteries.
These factors are influencing the growth of
this segment.

From the perspective of the regional market, North America will account for the highest share
of the electric supercars market during the forecast period.
Factors such as the increasing number of racing cars in the U.
S.
and increasing investments in lithium-ion battery technology for supercar models by leading automakers are contributing significantly to
the growth of the market in this region.
In addition, the introduction of stringent government regulations related to vehicle electrification is driving the growth
of the electric supercars market in North America.