The “Car Rack Market” Report provides a thorough examination of the market. The Car Rack Market research investigates how firms in the Car Rack Market are reacting to changing market conditions by examining major industry strategies. The report covers current top players are recognised and rated based on their market shares. It also includes data on leading manufacturers, market segmentation by types, applications, and geographic regions. Market capacity, production, consumption, sales, and revenue are all discussed in this Car Rack market report.
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Car Rack market covers the vision of competitor analysis by product types, market share, applications, sales and revenue. It covers the top key players like –
Key Market Trends:
Roof Box – Second Fastest Growing Segment
The roof box segment was valued at USD 264.41 million in 2018 and is expected to witness a growth rate of 7.22%, during the forecast period, 2019-2024.
Roof boxes are built and designed with a variety of materials, features, and sizes.
In September 2018, Thule Group officially unveiled Thule Vector and Thule Force XT cargo boxes at Automechanika. A roof box is ideal for families on vacation, as it can carry luggage, outdoor gear, and bulky loads. The company also offers the Thule Motion XT, which comes in four sizes, ranging from 300 to up to 610 liters. It has smart features, like SlideLock system with separate locking and opening functions, and is easy to mount, due to the pre-installed PowerClick quick-mount system.
Some people prefer roof top cargo luggage travel bag instead of boxes, due to its soft covers that allow travelers to carry objects, which may be oddly shaped and not fit under the hardcover cargo carriers. Due to the use of vinyl materials, these bags are waterproof and can be folded flat when not in use, for simpler storage. However, these bags are not ideal for sharp or delicate objects.
The price of roof cargo bags varies from USD 50 to USD 200, whereas the roof boxes cost more than USD 300, depending on the dimension and load carrying capacity.
Thule Group, Yakima, Inno Advanced Car Racks (CAR MATE MFG CO. LTD), and Malone Auto Racks offer roof boxes, globally. Inno offers cargo boxes in four series, namely, Phantom Series, Wedge Series, Shadow Series, and Ridge Series.
North America â€“ Dominated the Market
In 2018, the global car rack market was dominated by North America. The region accounted for 48.09% of the global market. The North American region was dominated by the US.
Some of the major factors driving the growth of the US market are growing demand for vehicles by the tourism sector (car rental and taxi services), increasing demand for recreational vehicles (rise in demand for recreational travels among the consumers), and a large number of young people moving out to different cities in the United States for studies and work.
According to the US Travel Association, the number of domestic leisure trips accounted for 1,821.2 million in 2018 and is expected to reach over 1,900 million by 2022. Nowadays, people in the country are opting for road trips and water sport activities during their vacations and holidays, which in turn is driving the demand for the roof rack, roof box, bike car rack, and watersport carrier in the country.
– In the United States, cycling has increased over the past three years. According to SFIA, about 8.7 million people participated in mountain/non-paved surface cycling compared to 8.04 million people in 2014.
– Additionally, the number of participants in recreational kayaking in the country increased from about 7.3 million in 2011 to over 11 million by the end of 2018, as per SFIA.
– According to the National Ski Areas Association, the number of skier/snowboard visits in the country increased from 51 million in 2012 to reach over 53 million in 2018.
Allen Sports, Rhino Racks, Thule, Yakima, Saris, and Kuat are prominent players that offer different car racks in the country.
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Scope of the Report:
Car racks are the combination of bars that are attached to the roof or back of the car for carrying luggage, bicycles, etc. They allow the user to use the interior space to its full by transporting the objects to the rooftop. The car racks are used to increase the luggage-carrying capacity of the given vehicle.
The global car rack market has been segmented by application and geography.
Highlighted points of Car Rack Market Report:
- Varying dynamics of the Car Rack industry.
- Prospective changes in sales volumes and worldwide share growth in upcoming years
- Car Rack market report recognizes the key drivers of growth and challenges of the key industry players.
- Competitors profiles along with product description, overview, and business data.
- Complete analysis of market risks, opportunities, limitations, and growth of the market.
- Market driving and restraining factors.
- Delivers information on the historical and current market size and the future potential of the market.
- Car Rack market report provides comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of market.
Key Benefits of this Car Rack Market report:
- The Car Rack market report provides a comprehensive analysis of the current trends and future estimations in the world mining equipment market to identify the potential investment pockets.
- The Car Rack market report presents information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
- Quantitative analysis of the current trends and forecasts to 2024 is provided to showcase the financial competency of the Car Rack market.
- Porter’s Five Force model of the industry and SWOT analysis illustrate the potency of the buyers & suppliers.
- Value chain analysis provides a clear understanding of the roles of stakeholders involved.
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Detailed TOC of Car Rack Market Report:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness – Porter’s Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Application Type
5.1.1 Roof Rack
5.1.2 Roof Box
5.1.3 Bike Car Rack
5.1.4 Ski Rack
5.1.5 Watersport Carrier
5.2.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.2.3 Asia Pacific
184.108.40.206 Rest of Asia-Pacific
5.2.4 Rest of the World
220.127.116.11 South Africa
18.104.22.168 Other Countries
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Thule Group
6.2.2 Yakima Products Inc.
6.2.3 Allen Sports
6.2.4 Rhino RackÂ USA LLC
6.2.5 Cruzber SA
6.2.6 ACPS Automotive
6.2.7 Malone Auto Racks
6.2.8 Kuat Car Racks
6.2.9 Car Mate Mfg. Co. Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Name: Ajay More
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