Bike Car Rack Market by Type (Hitch-mounted Racks, Roof-mounted Racks, Trunk-mounted Racks), Number of Bikes (Multiple Bikes Racks, Single Bike Racks), Distribution Channel - Global Forecast 2024-2030

Bike Car Rack Market by Type (Hitch-mounted Racks, Roof-mounted Racks, Trunk-mounted Racks), Number of Bikes (Multiple Bikes Racks, Single Bike Racks), Distribution Channel - Global Forecast 2024-2030

The Bike Car Rack Market size was estimated at USD 1.10 billion in 2023 and expected to reach USD 1.15 billion in 2024, at a CAGR 4.65% to reach USD 1.51 billion by 2030.

A bike car rack, also commonly referred to as a bicycle carrier, is an accessory equipment designed to facilitate the transportation of one or more bicycles using a motor vehicle. These racks are engineered to attach to the vehicle's exterior, including areas such as the roof, rear trunk, or hitch, depending on the specific design and model of the rack and vehicle. The primary purpose of a bike car rack is to provide a secure and efficient means of carrying bicycles over distances where it is not feasible to ride them, thereby extending cyclists' mobility and recreational opportunities. The primary driver for the growth of the bike car rack market is the increasing popularity of outdoor recreational activities, including cycling. As people become more health-conscious and seek environmentally friendly modes of transportation, the demand for bicycles and bike car racks has seen a significant upsurge. Additionally, the growth in the tourism sector, with tourists preferring to explore destinations with their bicycles, has further fueled this demand. However, one major challenge the market faces is the diversity of vehicle designs, which complicates the compatibility of bike racks with all car models. This issue is compounded by the rapid evolution of vehicle aesthetics and functionalities, requiring constant adaptation from rack manufacturers. Despite these challenges, the popularity of electric bicycles (e-bikes) presents a significant opportunity for bike car rack manufacturers.

Regional Insights

The bike car rack market in the Americas has shown robust growth, largely driven by increased consumer interest in outdoor activities and a rising trend of bicycling as a mode of transportation and recreation. Innovations in rack design and functionality have bolstered sales, making bike racks a more attractive accessory for vehicle owners in the region. The EMEA region exhibits a diverse demand for bike car racks, with Europe contributing majorly, with a stronger inclination towards biking as a leisure and commuting activity. The Middle East and Africa are observing gradual growth, with urbanization and an increasing awareness of health and environmental benefits driving demand. Asia-Pacific is witnessing rapid growth in the bike car rack market, owing to increasing disposable incomes, urbanization, and the growing acceptance of outdoor leisure activities. The proliferation of biking events and government initiatives fostering cycling as a sustainable method of transport has further fueled market expansion.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Bike Car Rack Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Increasing popularity of cycling as an outdoor recreational activity
• Growing availability of bike car racks through online retail channels

Market Restraints

• Fluctuating prices of raw materials required for bike car racks

Market Opportunities

• Ongoing advancements in bike car rack materials
• Growing popularity and adoption of e-bikes

Market Challenges

• Compatibility and installation issues of bike car rack

Market Segmentation Analysis

• Type: High preferences for hitch-mounted racks to carry heavy weight and multiple bikes
• Distribution Channel: Rising popularity of online channels owing to wider product choices and price comparisons

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Bike Car Rack Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Bike Car Rack Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Saris Announces New Rack Products and Innovations for Spring/Summer 2023

A bike rack, trainer, and storage manufacturer, Saris has introduced innovative additions to its product line for the spring/summer season to enhance the cycling experience for diverse bike types, vehicles, and cyclists. This new product line includes the advanced modular hitch system (MHS), hitch-mounted carrier, and the Glide EX rack with 4- and 5-bike configurations, providing seamless rear car access with a simple trigger action.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Bike Car Rack Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Bike Car Rack Market, highlighting leading vendors and their innovative profiles. These include ALTA RACKS, BuzzRack, Decathlon SA, Dr. Ing. h.c. F. Porsche AG, Firefox Bikes Pvt. Ltd, Futura GP inc., Küat Racks, Ningbo Eatripway outdoor products Co.,Ltd., Peak Bicycle Racks, Peruzzo SRL, Rhino Rack Australia Pty Limited, RockyMounts, Saris Equipment, LLC, SeaSucker, LLC, Sichuan Wetour International Trading Co., Ltd., SportRack, Suweeka, Swagman, Thule Group AB, Tower Popular Ind Co., Ltd, Yakima, Inc., and Zhenjiang Jazz Off-Road Automobile Parts Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Bike Car Rack Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Type
• Hitch-mounted Racks
• Roof-mounted Racks
• Trunk-mounted Racks
• Number of Bikes
• Multiple Bikes Racks
• Single Bike Racks
• Distribution Channel
• Offline
• Online

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year