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| Global Car Rack Market Size |
The global Car Rack Market is estimated to be valued at US$ 1335.34 Mn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market Overview:
Car racks are used to securely mount a variety of loads to the roof, trunk,
hitch, or other area of a vehicle. They provide extra storage space and allow
transporting items like skis, bicycles, kayaks, and other sports equipment or
cargo. The growing outdoor recreational activities and adoption of active
lifestyles are driving the demand for car racks.
Market key trends:
One of the key trends in the car rack market is the rising popularity of
on-roof cargo boxes. On-roof cargo boxes offer a weather-resistant and secure
way to transport luggage and gear on the roof of the vehicle. They provide around
20-40% more storage space as compared to roof rack baskets. They are easy to
load and unload, lockable for security, and also help in maintaining
aerodynamic profile of the vehicle for better fuel efficiency. Their demand is
increasing for family vacations and camping trips where more cargo needs to be
transported.
Segment
Analysis
The global car rack market is segmented based on product type, material type,
distribution channel, and vehicle type. Based on product type, the roof rack
segment dominates the market due to its growing demand for extra roof storage
capacity. Roof racks provide easy accessibility of luggage and cargo placed on
top of the vehicle.
Key Takeaways
The Global
Car Rack Market Size is expected to witness high growth, exhibiting CAGR of 4.9% over the forecast period,
due to increasing demand for extra storage capacity in vehicles.
Regional analysis related content: North America dominates the car rack market
owing to the high demand for SUVs and luxury vehicles in the US and Canada. Europe
is the second largest market for car racks due to the growing demand in
Germany, France, and the UK.
Key players related content: Key players operating in the car rack market are
Saris, Thule Group, Car Mate Mfg. Co. Ltd., Yakima Products Inc., Kuat Car
Racks, Allen Sports, Malone Auto Racks, Rhino Rack USA LLC, ACPS Automotive,
and Cruzber SA.
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