The global Car Racks market was valued at 1137.04 Million USD in 2021 and will grow with a CAGR of 5.25% from 2021 to 2027, based on HNY Research newly published report.

The prime objective of this report is to provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business approaches. Also, this report covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).

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.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.

By Market Verdors:

Allen Sports

Thule

Yakima Products

Atera

CARMATE

HandiWorld

JAC Products

KAMEI

Küat

Malone Auto Racks

Pendle Engineering

Rhino-Rack

By Types:

Roof Rack

Ski Rack

Roof Box

Water Sport Carrier

Bike Car Rack

By Applications:

Online Retail

Offline Retail

Key Indicators Analysed

Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.

Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.

Market Trends: Market key trends which include Increased Competition and Continuous Innovations.

Opportunities and Drivers: Identifying the Growing Demands and New Technology

Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.

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