Key Factors Impacting the growth of Car Rack Market

Car Rack Market: Introduction

  • Car racks are attached to the roof and are designed to carry luggage or a bicycle while traveling. Car racks are employed to increase the luggage carrying capacity of the vehicle. Normally, a vehicle has a boot space, which is limited to certain weight; however, a car rack helps carry more luggage while travelling.
  • Luggage is placed on the car rack so that space inside the vehicle can be used more efficiently. The car rack consists of a rail, pillars, and mounts. The rail is used to distribute the load on the entire rack equally, while ensuring the roof does not get damaged, while the pillars provide support to the rack frame. The car rack is a very strong bar assembly structure, which can carry bulk loads including bicycles and goods without occupying space in the vehicle interior.

Key Drivers of Car Rack Market

  • Rise in vehicle production along with luggage carrying capacity across the globe is likely to propel the car rack market. Increase in demand for extra boot space and surge in interest for amusement and tourism would help to boost the car rack market across the globe. Increase in demand for vehicles from ride-hailing companies and travel and tourism companies and a rise in the demand for recreational travel among people is likely to boost the car rack market across the globe.
  • According to the US Travel Association, the number of domestic relaxation trips accounted for nearly 1820 million in 2018, and it is anticipated to reach over 2000 million during the forecast period. However, a rise in the demand for sport activities and road trips during holidays is anticipated to fuel the demand for roof rack. This is likely to boost the car rack market across the globe. Major automotive component manufacturers are developing stylish, stronger, and safer roof racks, which is projected to further propel the car rack market across the globe.

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North America & Asia Pacific to hold significant share of global Car Rack Market

  • North America is projected to account for a significant share of the global car rack market due to a rise in the demand for vehicles from the tourism sector. North America has presence of major car rack manufacturers who have major facilities that undertake research & development of car racks, which is likely to propel the car rack market in the region.
  • Followed by North America, Asia Pacific is projected to hold a major share of the global car rack market due to an increase in sale of vehicles across the region. Presence of major automotive parts manufacturing industries across China, India, and Japan is anticipated to boost the car rack market in Asia Pacific.

Key Players Operating in Car Rack Market

The global car rack market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the car rack market are:

  • Thule Group AB
  • Yakima Products Inc.
  • Cruzber SA
  • Robert Bosch GmbH
  • Rhino-Rack USA LLC
  • Saris
  • ACPS Automotive
  • Malone Auto Racks
  • Kuat Car Racks
  • Carmate Manufacturing Co. Ltd

Global Car Rack Market: Research Scope

Global Car Rack Market, by Vehicle Type

  • Hatchback
  • Sedan
  • Utility Vehicle

Global Car Rack Market, by Application Type

  • Roof Rack
  • Roof Box
  • Bike Car Rack
  • Watersport Carrier

Global Car Rack Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Nordic Region
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

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