Authored By: Sarah
21 Apr 2021

Car Rack Market Size to Grow by $ 1.45 bn through 2021-2025

The car rack market is expected to grow by $ 1.45 bn, accelerating at a CAGR of almost 6% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.


Car Rack Market: Receive Free Sample Report


Car Rack Market: Segmentation by Product

This report provides a detailed analysis of the market by Product (Bike car rack, Roof rack, Ski rack, Roof box, and Water sports carrier) and Geographic (North America, Europe, APAC, MEA, and South America). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges which are likely to influence market growth during the forecast period. These insights are expected to equip clients with reliable information based upon which they can design a growth strategy for their business and area of operations.

Car Rack Market Size to Grow by $ 1.45 Billion through 2021-2025 

Car Rack Market: Vendor Analysis

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ACPS Automotive GmbH, Allen Sports USA, Atera GmbH, CRUZBER SA, KAMEI GmbH and Co. KG, Kuat Racks, Mont Blanc Group AB, Rhino Rack Pty Ltd., Thule Group AB, and Yakima Products Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

The car rack market has the potential to grow by USD 1.45 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.30%.

This car rack market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (bike car rack, roof rack, ski rack, roof box, and water sports carrier) and geography (North America, Europe, APAC, MEA, and South America). The car rack market report also offers information on several market vendors, including ACPS Automotive GmbH, Allen Sports USA, Atera GmbH, CRUZBER SA, KAMEI GmbH and Co. KG, Küat Racks, Mont Blanc Group AB, Rhino Rack Pty Ltd., Thule Group AB, and Yakima Products Inc. among others. View Free Sample Report

Car Rack Market: Increasing demand for smaller cars to drive growth

One of the primary factors that will trigger the growth of the Car Rack Market size is the growth in the tourism and travel sectors. The travel and tourism sectors are expected to record higher growth with increasing investments. The decreasing oil prices and reduction in airfares will also fuel the growth of the travel sector. South Asia is anticipated to be the fastest-growing region for the overall travel and tourism sector. This rise in the tourism and travel sector will consequently accelerate the demand for rental cars and roof racks, driving the market growth.

Car Rack Market Size to Grow by $ 1.45 Billion through 2021-2025 

Car racks offer a solid and safe platform for carrying the sports gears and specially designed racks for bikes, ski boards, and water sports equipment. The rise in urbanization, busy lifestyles, the growth in population in cities and towns, and an increase in environmental pollution has increased the focus on getaways and outdoor activities. The rising popularity of adventure activities such as mountain biking and short bike touring will drive the demand for car luggage racks in the next few years. 

Car Rack Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ACPS Automotive GmbH, Allen Sports USA, Atera GmbH, CRUZBER SA, KAMEI GmbH and Co. KG, Kuat Racks, Mont Blanc Group AB, Rhino Rack Pty Ltd., Thule Group AB, and Yakima Products Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Car Rack Market Size to Grow by $ 1.45 Billion through 2021-2025 

Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report 

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