Car Rack Market Size, Share, Growth & Industry Trends [2031]
Car Rack Market Size, Share, Growth & Industry Trends [2031]
Segments - Car Rack Market by Applications (Bike Car Rack, Ski Rack, Roof Rack, Roof Box, and Watersport Carrier) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031
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| Report ID :AL-2931
| 4.9 Rating
| 77 Reviews
| 190 Pages
| Format :
Report Description
Car Rack Market Outlook 2031:
The global car rack market size was valued at USD 1.28 Billion in 2022 and is projected to reach USD 2.07 Billion by 2031, expanding at a CAGR of 5.46% during the forecast period 2023 - 2031. The growth of the market is attributed to growing trend for adventure road trips such as mountain biking and ski trips and increasing vacation travel.
A car rack is an automobile stand or carrier that is installed on the vehicle's roof to boost luggage capacity. It is made up of a mount as well as various rails and pillars for supporting the rack structure and uniformly dispersing the weight of the baggage to prevent roof damage.
Lightweight materials, such as aluminum alloy, composite plastic, and steel, are widely used to make racks. Luggage or items are put on the rack to provide for optimum passenger space and better comfort while travelling. Traditionally, they were permanently affixed to the vehicle's roofs. However, current models may be attached and removed using hooks and joints for more flexibility.
One of the primary elements contributing to the markets favorable outlook is the expanding automotive industry. Additionally, the increased use of ski and watersport carriers for outdoor and leisure activities is propelling the market.
With growing young population and growing interest in adventure sports, there is a growing demand for long-lasting and aesthetically pleasing vehicle racks for extra luggage space.
Further factors, such as rapid population growth, increasing customer purchasing power, and also more tourism investment, are projected to drive the market.
The introduction of compact SUVs with great practicality and enhanced vehicular capabilities, as well as increasing number of off-road ready automobiles, are some important driving forces for the car rack industry, since this will substantially improve the application of roof racks.
Roof racks, roof boxes, bike car racks, and watersport carriers are in high demand as more people opt for road excursions and water sports activities during vacations and holidays.
The Covid-19 pandemic affected the demand and supply of global car rack market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Car Rack Market Trends, Drivers, Restraints, and Opportunities
- Rising demand for extra luggage space is expected to fuel the market during the forecast period.
- Growing necessity luxury and comfort are projected to propel the market in the coming years.
- Rapid growth of the travel & tourism industry is key factor driving the market.
- Companies launching new generation vehicle are anticipated to surge the market.
- Increasing trend for outdoor sports activity and development of activity or sports grounds are main factors boosting the market in the coming years.
- Rising domestic incomes and increasing spending on luxury goods are projected to surge the market.
- Poor material quality products are expected to hinder the market.
- Rising oil prices leads to decreasing number of travelers which is expected to restrict the market growth.
Scope of Car Rack Market Report
The report on the global car rack market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Car Rack Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
|
Forecast Period |
2023–2031 |
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Segmentation |
Applications (Bike Car Rack, Ski Rack, Roof Rack, Roof Box, and Watersport Carrier) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Allen Sports; Rhino-Rack; Car Mate Mfg Co. Ltd; Saris; Cruzber SA; Thule Group; Yakima Products |
Global Car rack Market Segment Insights
The roof rack segment is projected to constitute a key market share
Based on application types, the car rack market is divided into bike car rack, ski rack, roof rack, roof box, and watersport carrier. The roof rack segment is expected to account for a key share of the market during the forecast period owing to flexibility that allow passengers to transport goods that are unusual in shape and do not fit under hardback cargo carriers.
North America is anticipated to dominates the market
On the basis of regions, the car rack market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market.
The regional market growth can be attributed to increasing tourism-related vehicle demand such as car rental and taxi services and large number of young populations opting for road trips and sports activity.
Segments
The global car rack market has been segmented on the basis of
Applications
- Bike Car Rack
- Ski Rack
- Roof Rack
- Roof Box
- Watersport Carrier
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Allen Sports
- Rhino-Rack
- Car Mate Mfg Co. Ltd
- Saris
- Cruzber SA
- Thule Group
- Yakima Products
Competitive Landscape
Key players competing in the car rack market include Allen Sports; Rhino-Rack; Car Mate Mfg. Co. Ltd; Saris; Cruzber SA; Thule Group; Yakima Products.
Some of these players working on several market strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Car Rack Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Car Rack Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Car Rack Market - Supply Chain
4.5. Global Car Rack Market Forecast
4.5.1. Car Rack Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Car Rack Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Car Rack Market Absolute $ Opportunity
5. Global Car Rack Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Car Rack Market Size and Volume Forecast by Applications
5.3.1. Bike Car Rack Ski Rack Roof Rack Roof Box Watersport Carrier
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Car Rack Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Car Rack Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Car Rack Demand Share Forecast, 2019-2026
7. North America Car Rack Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Car Rack Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Car Rack Market Size and Volume Forecast by Applications
7.4.1. Bike Car Rack Ski Rack Roof Rack Roof Box Watersport Carrier
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Car Rack Demand Share Forecast, 2019-2026
8. Latin America Car Rack Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Car Rack Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Car Rack Market Size and Volume Forecast by Applications
8.4.1. Bike Car Rack Ski Rack Roof Rack Roof Box Watersport Carrier
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Car Rack Demand Share Forecast, 2019-2026
9. Europe Car Rack Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Car Rack Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Car Rack Market Size and Volume Forecast by Applications
9.4.1. Bike Car Rack Ski Rack Roof Rack Roof Box Watersport Carrier
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Car Rack Demand Share Forecast, 2019-2026
10. Asia Pacific Car Rack Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Car Rack Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Car Rack Market Size and Volume Forecast by Applications
10.4.1. Bike Car Rack Ski Rack Roof Rack Roof Box Watersport Carrier
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Car Rack Demand Share Forecast, 2019-2026
11. Middle East & Africa Car Rack Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Car Rack Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Car Rack Market Size and Volume Forecast by Applications
11.4.1. Bike Car Rack Ski Rack Roof Rack Roof Box Watersport Carrier
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Car Rack Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Car Rack Market: Market Share Analysis
12.2. Car Rack Distributors and Customers
12.3. Car Rack Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Allen Sports Rhino-Rack Car Mate Mfg Co. Ltd Saris Cruzber SA Thule Group
Methodology
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