Automotive Roof Racks Market Share Analysis
The global automotive
roof racks market share is predicted to develop at a healthy 6.69% CAGR between 2023-
2030, states the recent Market Research Future (MRFR) analysis. An automotive
roof rack, simply put, is a carrier or stand that is fixed over the car top for
holding or supporting goods or luggage on the top of the car for effective
transportation at the time of traveling. Automotive roof racks include pillars,
rail, and mount. It is generally made of composite plastic, aluminum alloy, and
others and finds wide applications in passenger cars as well as commercial
vehicles.
Various factors are
propelling the global Automotive Roof Racks Market Shareshare. As per the
current MRFR report, such factors include low maintenance cost, low operational
cost, flexibility, development of durable and lightweight roof racks by
manufacturers to cut down the weight of the car, an increasing number of
tourists worldwide, rise in disposable income, and increasing preference for
recreational and outdoor activities.
On the contrary, the rise in fuel consumption,
increase in car weight for the use of heavy roof racks, and the ongoing
COVID-19 impact are factors that may limit the global Automotive Roof Racks
Market Sharegrowth over the forecast period.
Automotive
Roof Racks Market Share Key Players
Eminent contenders profiled in the global Automotive
Roof Racks Market Sharereport include Yakima Products Inc.
(U.S.), JAC Products (U.S.), BOSAL (Belgium), Rhino-Rack (U.S.), Atera GmbH
(Germany), Cruzber S.A (Spain), MINTH Group Limited(China), VDL Hapro BV
(Netherlands), Magna International, Inc.(Ontario), and Thule Group (Sweden),
among others.
Automotive
Roof Racks Market Share Segmentation
·
The MRFR report offers an inclusive segmental
analysis of the global Automotive Roof Racks Market Sharebased on type,
material, and application.
·
By type, the global Automotive Roof Racks Market
Shareis segmented into roof mount, gutter, rail raised, and others.
·
By material, the global Automotive Roof Racks Market
Shareis segmented into composite plastic, aluminum alloy, and others.
·
By application, the global Automotive Roof Racks
Market Shareis segmented into passenger cars and commercial vehicles. Of these,
commercial vehicles will lead the market over the forecast period.
Regional
Analysis
Based on the region,
the global Automotive Roof Racks Market Sharereport covers the growth
opportunities and recent trends across the Asia Pacific (APAC), North America,
Europe, & the Rest of the World (RoW). Among these, North America will
spearhead the market over the forecast period. Increasing adoption of cycling,
especially in the US, the growing use of snowboards, rising sales of passenger
cars, burgeoning demand for new cars, shifting preference of auto manufacturers
to higher-value pickups & SUVs from small cars, and low fuel price and
low-interest rate in the automotive market in the US are adding to the global Automotive
Roof Racks Market Sharegrowth in the region.
China will hold the
maximum share in the market over the forecast period as it is a key automotive
market, increased production of commercial and passenger cars in China, rising
production of cars, and new & trade-friendly policies developed by car
makers in China.
The global Automotive
Roof Racks Market Sharein Europe is predicted to have the second-largest share
over the forecast period. Booming automotive sector is adding to the global Automotive
Roof Racks Market Sharegrowth over the forecast period.
The global Automotive
Roof Racks Market Sharein the APAC region is predicted to have favorable growth
over the forecast period. Increase in car production, growing sales of cars for
the boost in disposable income, burgeoning demand for cars from the tourism
industry, and the booming tourism sector are adding to the global Automotive
Roof Racks Market Sharegrowth in the region.
The global automotive
roof racks market in the RoW is predicted to have sound growth
over the forecast period.
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