Global Car Rack Market- Market Overview:

Global Car Rack market is expected to grow from USD 1213.47 million in 2021 to USD 1919.5 million by 2029, at a CAGR of 5.9% during the Projection period 2022-2029. The growth of this market is mainly driven owing to the increase in the trading of LPG across countries.

An automobile stand or carrier installed over the vehicle's roof to boost luggage capacity is referred to as a car rack. It is made composed of a mount, many rails, and pillars for supporting the rack frame and dispersing the weight of the luggage to protect the roof. Steel, aluminum alloy, composite plastic, and other lightweight materials are frequently used to make racks. To provide passengers with as much room as possible and improve their comfort while traveling, luggage or other items are placed on racks. The current variations can be attached and detached using hooks and joints for increased flexibility, minimum maintenance, and convenience. Traditionally, they were installed permanently on the vehicle's roofs. The expanding automotive industry is one of the major reasons contributing to the market's good outlook. Growth in the market is also being fueled by the increased use of ski and watersport carriers for leisure and recreational activities. There is an increasing preference for sturdy and visually pleasing car racks for additional luggage capacity due to the growing young population and interest in adventure sports. This is helping the market expand, coupled with several product developments, including the creation of fiberglass car racks that offer improved durability. Bias-ply and steel-reinforced racks can't match the durability of fiberglass ones, which also cost less to strengthen and perform better when traveling long distances. The industry is expected to be further fueled by additional factors such as increased tourism-related investments, rapid urbanization, and rising consumer spending power.

Sample Request: - Global Car Rack Market

Market Dynamics:

Drivers:                          

• Rise in vehicle production

The market for car racks is projected to grow as vehicle production and global capacity for carrying luggage increase. The market for vehicle racks would be boosted globally if there was a rise in the need for additional cargo space and interest in entertainment and travel. The demand for vehicles from ride-hailing companies, travel, and tourist businesses, as well as a surge in consumer desire for leisure travel, are all predicted to raise demand for car racks globally. Additionally, as the automotive industry develops, various automobile kinds are produced to satisfy consumer demand, stimulating the car rack market.

Restraints:                                             

• Difficulties in installation

Depending on the requirements and preferences of the buyer, the car racks can be added or deleted. However, removing and reinstalling the racks takes a lot of work. While some car racks are simpler to install and remove, others may need complex procedures. Technically, mounting anything to the outside of a car interferes with its aerodynamics and makes it drag since the mount blocks the airflow over the vehicle's body. Therefore, during the projected period, the market's growth would be constrained by the complexity of installation and removal.

Opportunities:

• Increasing initiatives to enhance participation in skiing and other activities

Since the skiing sector helps these nations' economies, several nations with access to snowy mountains are ramping up their efforts to encourage skiing participation. For instance, to entice visitors to ski in the US Adirondack region, the Governor of New York City developed the Ski NY Spring Break campaign in 2018. Hundreds of people took part in this initiative, including representatives from the federal, state, and local governments and sports fans throughout the state. The market for car racks is driven by such large-scale projects and rising demand for skiing equipment because the vehicle racks transport the gear needed for skiing.

Challenge:

• Impact of COVID 19 on the automotive industry

The globally linked automobile industry has experienced a quick and severe impact due to the COVID-19 epidemic. Chinese part exports are being disrupted, there have been widespread industrial disruptions in Europe, and assembly operations in the US have closed. Despite all the setbacks, the market is still gaining momentum slowly.

Segmentation Analysis:

The global car rack market has been segmented based on Vessel, application, and regions.

By Type

The type segment is roof rack, roof box, bike car rack, ski rack, and watersport carrier. The roof rack segment led the largest share of the car rack market with a market share of around 24.3% in 2021. Due to the rising popularity of campers and off-road vehicles, the roof rack segment of the car rack market is anticipated to grow over the Projection period. The need for roof racks is anticipated to rise along with the use of off-road vehicles and SUV sales. SUV sales made up around 45.9% of all passenger car sales globally in 2021, up 4% from the previous year. This growth highlights the tremendous potential for off-road applications and the rising popularity of roof racks for long-distance travel around the globe. In 2021, there were a projected 200 million SUVs in use, demonstrating the significant potential for these vehicles and roof racks in the tourism industry.

By Application                                                                                 

The application includes passenger cars and commercial cars. The passenger car segment led the car rack market with a market share of around 64.08% in 2021. Due to the rise in recreational activities, passenger car sales are skyrocketing globally. The key factors influencing the segment's growth are the need for more baggage space and the rising excitement for leisure time and travel. The market for car racks is also being driven by the advent of more compact passenger cars that are more practical and have more vehicle capabilities, as well as a rise in the number of highly capable off-road vehicles. These developments will greatly enhance the use of roof racks.

By Material                                                                                       

The material segment includes aluminum alloy, composite plastics, and others. The plastic car rack segment led the car rack market with a market share of around 39.08% in 2021. The vast majority of roof racks are made of fiberglass or plastic. It provides a default setting that enables customers to modify whatever rack system they choose to utilize completely. Since aluminum is the lightest roof rack material currently on the market and helps to reduce total weight, the aluminum alloy market is predicted to grow at a rapid CAGR. Aluminum has a high level of corrosion resistance due to the mixture of metals used in its production.

By Regional Analysis:

The regions analyzed for the car rack market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the car rack market and held the 45.4% share of the market revenue in 2021.

• North America region witnessed a major share. The expanding need for automobiles from the tourism industry (car rental and taxi services), rising consumer desire for leisure travel, and the enormous number of young people traveling to various American cities for work and school are some of the key drivers boosting the expansion of the US market. In the United States, leisure travel accounted for more than 86% of all travel in 2021, demonstrating the enormous potential for high-quality roof racks installed on automobiles. Canadians' third and fifth most common outdoor hobbies are hiking and bicycling, which typically require regular car roof racks to mount gear and bicycles. This increases the demand for car racks in the country.
• Europe is anticipated to experience significant growth during the predicted period. The expanding automobile industry is one of the main elements fostering an optimistic outlook for the market. The region's market is expanding due to the increased use of ski and watersport carriers for leisure and recreational activities.

Global Car Rack Market- Country Analysis:

• Germany

Germany's car rack market size was valued at USD 36.9 million in 2021 and is expected to reach USD 62.0 million by 2029, at a CAGR of 6.7% from 2022 to 2029. The tourism industry in Germany is primarily responsible for expanding the car rack business. Germany is one of the greatest tourism markets in Europe, with an estimated 290 million euros in annual tourism revenue. The region's demand for car racks is rising due to the increase in tourism and the demand for small, luggage-friendly vehicles.

• China

China car racks’ market size was valued at USD 36.9 million in 2021 and is expected to reach USD 62.0 million by 2029, at a CAGR of 6.7% from 2022 to 2029.  The region's demand for roof racks is expected to increase as more people participate in sports and take road trips over the holidays. The development of fashionable, more durable, and safer roof racks by key producers of automotive components is also anticipated to boost further the market for car racks in China, where the bulk of suppliers are concentrated.

• India

India's car rack market size was valued at USD 34.7 million in 2021 and is expected to reach USD 56.57 million by 2029, at a CAGR of 6.3% from 2022 to 2029. An increase in vehicle sales across the region will be the main driver during the projection period. Additionally, the industry is stimulated by the existence of certain significant automobile component producers in the area.

Key Industry Players Analysis:                                                     

To increase their market position in the global car rack business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

• ACPS Automotive GmbH
• Allen Sports USA
• CarMate
• CRUZBER SA
• Kuat Innovations LLC
• Malone Auto Racks
• Rhino Rack Pty Ltd
• Saris
• Thule Group
• Yakima Products, Inc.
• Magna International
• VDL HAPro
• Minth Group
• Atera GmbH
• BOSAL

Latest Development:

• In November 2021, CRUZ introduced the new CRUZ Ski Roof magnetic ski rack. The new CRUZ Ski Roof is a universal magnetic ski rack that can hold up to three pairs of skis or two snowboards. Its assembly is simple and secure, and tools are not required. Special safeguards are built into the magnetic base to prevent paint damage to the car. The new CRUZ Ski Roof is made with appropriate materials to ensure proper functioning in the chilly winter weather.
• In July 2021, GM Supplier Quality Excellence Award was presented to ACPS Automotive's Querétaro production and development facility in Mexico. The coveted GM Supplier Quality Excellence Award is given each year to a few chosen General Motors suppliers worldwide.

Report Metrics

Report Attribute	Details
Study Period	2021-2029
Base year	2021
CAGR (%)	5.9%
Market Size	1213.47 million in 2021
Forecast period	2022-2029
Forecast unit	Value (USD)
Segments covered	By Type, By Application, By Material Type
Report Scope	Revenue forecast, competitive landscape, company ranking, growth factors, and trends
Companies covered	ACPS Automotive GmbH, Allen Sports USA, CarMate, CRUZBER SA, Kuat Innovations LLC, Malone Auto Racks, Rhino Rack Pty Ltd, Saris, Thule Group, Yakima Products, Inc., Magna International, VDL HAPro, Minth Group, Atera GmbH, BOSAL and among others.
By Type	Roof Rack Roof Box Bike Car Rack Ski Rack Watersport Carrier
By Application	Passenger Car Commercial Car
By Material Type	Aluminum alloy Composite Plastics Others
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Car Rack Market by Typet:

• Roof Rack
• Roof Box
• Bike Car Rack
• Ski Rack
• Watersport Carrier

Global Car Rack Market by Application:

• Passenger Car
• Commercial Car

Global Car Rack Market by Material:

• Aluminum alloy
• Composite Plastics
• Others

Global Car Rack Market by Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia

Political Factors- Governments are enforcing strict safety requirements worldwide for automakers. Governments have imposed many automobile requirements, including emergency airbags and safety seatbelts. Due to the high quantities of pollutants that automobiles emit, even in some countries, attention is paid to electric vehicles. Particularly in India, the union budget 2021 includes a voluntary vehicle scrapping policy that requires personal automobiles to pass a fitness test after 20 years. This affects Maserati's business strategy and presents it with international commercial opportunities. Automobile sales plummeted due to the Covid-19 outbreak, but they have since increased as the situation has recovered. This is good news for the business.

Economical Factors- Interest rates, inflation, tax rates, and the foreign exchange rate in any given nation are a few economic elements that impact brands. Even consumer employment rates have an overall impact on their purchasing choices. Largely, macro-level variables like the recession and gasoline prices impact sales in various regions. Since the automotive firm often produces luxury cars, only high-end clients are its intended market. While this poses a challenge to the organization, it also presents a chance to expand its target market through strategic segmentation, targeting, and positioning.

Social Factor- The purchasing decisions made by individuals and families are significantly influenced by their lifestyle choices and by society. The judgments made when purchasing any luxuries or expensive products, such as automobiles, are influenced by social position and local culture. As driving becomes increasingly popular, more individuals want to own their own cars. Even demographic variables like age, gender, education level, and location impact the sale of vehicles. Sales are boosted by consumers' propensity to spend more when their social standing and level of education rise. It can boost its sales and profitability with growing awareness and the appropriate marketing and promotional techniques.

Technological Factors- Future automotive engine designs that are tech-enabled and innovative are a top priority for Maserati. It contains a dedicated innovation lab where cutting-edge modeling and designing are carried out. This company also has intentions to introduce electric vehicles this year. In addition, technological advancements like artificial intelligence (AI) and machine learning are using robotic automation in the automotive sector. It incorporates major technology developments like fleet management and self-driving vehicles. The vehicle company stands apart due to all these industry-related features, which also provide it an advantage over other businesses. It is essential to move forward with emerging technology to draw customers and increase market share.

Environmental Factors- Car rack manufacturers must manage its business operations by the increasingly strict rules governing low carbon emissions and the environment across all nations. Government subsidies and incentives are available for those cars and trucks with low fuel consumption and carbon emissions. This year, it intends to build and introduce entirely electric automobile types. Brands must manage even the end-of-life of their vehicles because e-waste negatively influences the environment.

Legal Factors- The legal aspect should also be taken into account since it significantly influences the market. It has an impact on the brand's performance and financial success. Scraping regimes are establishing themselves in several nations as environmental rules have become more stringent. A car-making company like Maserati must adhere to many rules regarding product safety and quality in addition to meeting criteria set by the global marketplace. The companies that produce vehicles must comply with numerous environmental, safety, and tax requirements to operate in various markets and nations. Also very significant are the laws governing occupational health and safety. Considering the new automotive technology.

1. Introduction
   • 1. Objectives of the Study
   • 2. Market Definition
   • 3. Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
   • 1. Porter’s Five Forces Analysis
   • 2. Value Chain Analysis
   • 3. Top Investment Pockets
     • 3.1. Market Attractiveness Analysis By Type
     • 3.2. Market Attractiveness Analysis By Application
     • 3.3. Market Attractiveness Analysis By Material
     • 3.4. Market Attractiveness Analysis By Region
   • 4. Industry Trends
5. Market Dynamics
   • 1. Market Evaluation
   • 2. Drivers
     • 2.1. Rise in vehicle production
   • 3. Restraints
     • 3.1. Difficulties in installation
   • 4. Opportunities
     • 4.1. Increasing initiatives to enhance participation in skiing and other activities
   • 5. Challenges
     • 5.1. Impact of COVID 19 on the automotive industry

6. Global Car Rack Market Analysis and Projection, By Type
   • 1. Segment Overview
   • 2. Roof Rack
   • 3. Roof Box
   • 4. Bike Car Rack
   • 5. Ski Rack
   • 6. Watersport Carrier
7. Global Car Rack Market Analysis and Projection, By Application
   • 1. Segment Overview
   • 2. Passenger Car
   • 3. Commercial Car
8. Global Car Rack Market Analysis and Projection, By Material
   • 1. Segment Overview
   • 2. Aluminum alloy
   • 3. Composite Plastics
   • 4. Others
9. Global Car Rack Market Analysis and Projection, By Regional Analysis
   • 1. Segment Overview
   • 2. North America
     • 2.1. U.S.
     • 2.2. Canada
     • 2.3. Mexico
   • 3. Europe
     • 3.1. Germany
     • 3.2. France
     • 3.3. U.K.
     • 3.4. Italy
     • 3.5. Spain
   • 4. Asia-Pacific
     • 4.1. Japan
     • 4.2. China
     • 4.3. India
   • 5. South America
     • 5.1. Brazil
   • 6. Middle East and Africa
     • 6.1. UAE
     • 6.2. South Africa

10. Global Car Rack Market-Competitive Landscape
    • Overview
    • Market Share of Key Players in the Car Rack Market
      • 2.1. Global Company Market Share
      • 2.2. North America Company Market Share
      • 2.3. Europe Company Market Share
      • 2.4. APAC Company Market Share
    • Competitive Situations and Trends
      • 3.1. Product Launches and Developments
      • 3.2. Partnerships, Collaborations, and Agreements
      • 3.3. Mergers & Acquisitions
      • 3.4. Expansions

11. Company Profiles
    • ACPS Automotive GmbH
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Product Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • Allen Sports USA
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Product Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • CarMate
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Product Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • CRUZBER SA
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Product Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • Kuat Innovations LLC
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Product Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Malone Auto Racks
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Product Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis
    • Rhino Rack Pty Ltd
      • 7.1. Business Overview
      • 7.2. Company Snapshot
      • 7.3. Company Market Share Analysis
      • 7.4. Company Product Portfolio
      • 7.5. Recent Developments
      • 7.6. SWOT Analysis
    • Saris
      • 8.1. Business Overview
      • 8.2. Company Snapshot
      • 8.3. Company Market Share Analysis
      • 8.4. Company Product Portfolio
      • 8.5. Recent Developments
      • 8.6. SWOT Analysis
    • Thule Group
      • 9.1. Business Overview
      • 9.2. Company Snapshot
      • 9.3. Company Market Share Analysis
      • 9.4. Company Product Portfolio
      • 9.5. Recent Developments
      • 9.6. SWOT Analysis
    • Yakima Products, Inc.
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Product Portfolio
      • Recent Developments
      • SWOT Analysis

List of Table

1. Global Car Rack Market, By Type, 2021–2029(USD Million)
2. Global Roof Rack, Car Rack Market, By Region, 2021–2029(USD Million)
3. Global Roof Box, Car Rack Market, By Region, 2021–2029(USD Million)
4. Global Bike Car Rack, Car Rack Market, By Region, 2021–2029(USD Million)
5. Global Ski Rack, Car Rack Market, By Region, 2021–2029(USD Million)
6. Global Watersport Carrier, Car Rack Market, By Region, 2021–2029(USD Million)
7. Global Car Rack Market, By Application, 2021–2029(USD Million)
8. Global Passenger Car, Car Rack Market, By Region, 2021–2029(USD Million)
9. Global Commercial Car, Car Rack Market, By Region, 2021–2029(USD Million)
10. Global Car Rack Market, By Material, 2021–2029(USD Million)
11. Global Aluminum alloy, Car Rack Market, By Region, 2021–2029(USD Million)
12. Global Composite Plastics, Car Rack Market, By Region, 2021–2029(USD Million)
13. Global Others, Car Rack Market, By Region, 2021–2029(USD Million)
14. Global Car Rack Market, By Region, 2021–2029(USD Million)
15. North America Car Rack Market, By Type, 2021–2029(USD Million)
16. North America Car Rack Market, By Application, 2021–2029(USD Million)
17. North America Car Rack Market, By Material, 2021–2029(USD Million)
18. USA Car Rack Market, By Type, 2021–2029(USD Million)
19. USA Car Rack Market, By Application, 2021–2029(USD Million)
20. USA Car Rack Market, By Material, 2021–2029(USD Million)  
21. Canada Car Rack Market, By Type, 2021–2029(USD Million)
22. Canada Car Rack Market, By Application, 2021–2029(USD Million)
23. Canada Car Rack Market, By Material, 2021–2029(USD Million)
24. Mexico Car Rack Market, By Type, 2021–2029(USD Million)
25. Mexico Car Rack Market, By Application, 2021–2029(USD Million)
26. Mexico Car Rack Market, By Material, 2021–2029(USD Million)
27. Europe Car Rack Market, By Type, 2021–2029(USD Million)
28. Europe Car Rack Market, By Application, 2021–2029(USD Million)
29. Europe Car Rack Market, By Material, 2021–2029(USD Million)
30. Germany Car Rack Market, By Type, 2021–2029(USD Million)
31. Germany Car Rack Market, By Application, 2021–2029(USD Million)
32. Germany Car Rack Market, By Material, 2021–2029(USD Million)
33. France Car Rack Market, By Type, 2021–2029(USD Million)
34. France Car Rack Market, By Application, 2021–2029(USD Million)
35. France Car Rack Market, By Material, 2021–2029(USD Million)
36. UK Car Rack Market, By Type, 2021–2029(USD Million)
37. UK Car Rack Market, By Application, 2021–2029(USD Million)
38. UK Car Rack Market, By Material, 2021–2029(USD Million)
39. Italy Car Rack Market, By Type, 2021–2029(USD Million)
40. Italy Car Rack Market, By Application, 2021–2029(USD Million)
41. Italy Car Rack Market, By Material, 2021–2029(USD Million)
42. Spain Car Rack Market, By Type, 2021–2029(USD Million)
43. Spain Car Rack Market, By Application, 2021–2029(USD Million)
44. Spain Car Rack Market, By Material, 2021–2029(USD Million)
45. Asia Pacific Car Rack Market, By Type, 2021–2029(USD Million)
46. Asia Pacific Car Rack Market, By Application, 2021–2029(USD Million)
47. Asia Pacific Car Rack Market, By Material, 2021–2029(USD Million)
48. Japan Car Rack Market, By Type, 2021–2029(USD Million)
49. Japan Car Rack Market, By Application, 2021–2029(USD Million)
50. Japan Car Rack Market, By Material, 2021–2029(USD Million)
51. China Car Rack Market, By Type, 2021–2029(USD Million)
52. China Car Rack Market, By Application, 2021–2029(USD Million)
53. China Car Rack Market, By Material, 2021–2029(USD Million)
54. India Car Rack Market, By Type, 2021–2029(USD Million)
55. India Car Rack Market, By Application, 2021–2029(USD Million)
56. India Car Rack Market, By Material, 2021–2029(USD Million)
57. South America Car Rack Market, By Type, 2021–2029(USD Million)
58. South America Car Rack Market, By Application, 2021–2029(USD Million)
59. South America Car Rack Market, By Material, 2021–2029(USD Million)
60. Brazil Car Rack Market, By Type, 2021–2029(USD Million)
61. Brazil Car Rack Market, By Application, 2021–2029(USD Million)
62. Brazil Car Rack Market, By Material, 2021–2029(USD Million)
63. Middle East and Africa Car Rack Market, By Type, 2021–2029(USD Million)
64. Middle East and Africa Car Rack Market, By Application, 2021–2029(USD Million)
65. Middle East and Africa Car Rack Market, By Material, 2021–2029(USD Million)
66. UAE Car Rack Market, By Type, 2021–2029(USD Million)
67. UAE Car Rack Market, By Application, 2021–2029(USD Million)
68. UAE Car Rack Market, By Material, 2021–2029(USD Million)
69. South Africa Car Rack Market, By Type, 2021–2029(USD Million)
70. South Africa Car Rack Market, By Application, 2021–2029(USD Million)
71. South Africa Car Rack Market, By Material, 2021–2029(USD Million)

List of Figures 

1. Global Car Rack Market Segmentation
2. Car Rack Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Car Rack Market Attractiveness Analysis By Type
9. Global Car Rack Market Attractiveness Analysis By Application
10. Global Car Rack Market Attractiveness Analysis By Material
11. Global Car Rack Market Attractiveness Analysis By Region
12. Global Car Rack Market: Dynamics
13. Global Car Rack Market Share By Type (2021 & 2029)
14. Global Car Rack Market Share By Application (2021 & 2029)
15. Global Car Rack Market Share By Material (2021 & 2029)
16. Global Car Rack Market Share by Regions (2021 & 2029)
17. Global Car Rack Market Share by Company (2020)