Global Car Racks Market Growth 2023-2029

Global Car Racks Market Growth 2023-2029

A car rack consists of set of bars mounted on the roof of a car. It acts as an anchor that supports and securely holds a large variety of items, increasing the luggage carrying capacity of a car. These racks are also specialized to mount bikes, water sports equipment, skis, and boats. While some vehicles come with standard factory-installed car racks, others can be purchased and fit with aftermarket parts. They can be fit either temporarily or permanently. They can also be personalized to suit a variety of needs and are characterized based on the load bearing capacity and the types of roofs they are designed to fit. Car racks are used to optimize luggage space, provide comfort and convenience.

LPI (LP Information)' newest research report, the “Car Racks Industry Forecast” looks at past sales and reviews total world Car Racks sales in 2022, providing a comprehensive analysis by region and market sector of projected Car Racks sales for 2023 through 2029. With Car Racks sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Car Racks industry.

This Insight Report provides a comprehensive analysis of the global Car Racks landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Car Racks portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Car Racks market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Car Racks and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Car Racks.

The global Car Racks market size is projected to grow from US$ 1153.3 million in 2022 to US$ 1711.1 million in 2029; it is expected to grow at a CAGR of 1711.1 from 2023 to 2029.

One of the major drivers for this market is increasing demand for smaller cars. Several car manufacturers have introduced compact cars that come with a limited boot capacity. The hike in fuel prices has led to the downsizing of vehicles, and therefore, people prefer smaller cars over premium big cars as they are light, compact, and run with lower costs. Further, the report states that one of the major factors hindering the growth of this market is difficulties in installation. The car racks can be installed or removed based on the need and preference of the consumer. However, the task of removing and fitting the racks is tedious. While some car racks are easier to fix and remove, others often involve technical steps. The process of attaching and removing these racks sometimes also damage the frame or paint job of the car concerned.

This report presents a comprehensive overview, market shares, and growth opportunities of Car Racks market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Roof Rack
Ski Rack
Roof Box
Water Sport Carrier
Bike Car Rack

Segmentation by application
Online Retail
Offline Retail

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Allen Sports
Thule
Yakima Products
Atera
CARMATE
HandiWorld
JAC Products
KAMEI
Küat
Malone Auto Racks
Pendle Engineering
Rhino-Rack

Key Questions Addressed in this Report

What is the 10-year outlook for the global Car Racks market?

What factors are driving Car Racks market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Car Racks market opportunities vary by end market size?

How does Car Racks break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.