According to Automotive Roof Racks Market 2019 Global Industry Analysis To 2023, report on “Global Automotive Roof Racks Industry” published by Market Research Future, The Global Automotive Roof Racks market expected to rise at a 6.69% CAGR by 2023
— Automotive Roof Racks Market 2019 Global Industry Analysis To 2023, report on “Global Automotive Roof Racks Industry” published by Market Research Future. Global Automotive Roof Racks Market Information by Material (Aluminum Alloy, Composite Plastic and Others), Type (Roof Mount, Raised Rail, Gutter and others), Application (Commercial Vehicles and Passenger Cars), Region – Forecast till 2023.
Major Automotive Roof Racks Companies covered in the market report include Thule Group (Sweden), Magna International, Inc.(Ontario), VDL Hapro bv (Netherlands), MINTH Group Limited(China), Cruzber S.A (Spain), Atera GmbH (Germany), Rhino-Rack (U.S.), BOSAL (Belgium), JAC Products (U.S.) and Yakima Products Inc. ( U.S.).
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Global Market Highlights:
Global Automotive Roof Racks market has seen remarkable growth; expected to rise at a 6.69% CAGR. A roof rack is group of bars that are attached at the top of the vehicles. The main purpose of roof rack is used to carry bulk items such as luggage, bicycles and various carriers. Roof racks allows the user to carry an object from one place to other without reducing the interior space.
Tourism has experienced a continuous growth and extending its diversification to become one of the fastest growing economic sector in the world. Modern tourism is closely linked to development and covers growing number of new destinations. These dynamics have turned tourism into a key driver for the growth of automotive industry. The expanding transport projects in emerging nations are expected to reveal greater logistics opportunities and increase the demand for commercial and passenger vehicles in the Asia-Pacific, significantly over the Forecasted period. The automotive roof rack market is completely dependent on the automotive industry. Thus the increasing or decreasing demand of the automotive industry directly has an impact on the market. The total vehicle production for the year 2015 was almost 90 million units and is expected to witness further boost and reach more than 100 million units by the year 2023.
The Global Automotive Roof Racks Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding.
Segmentation by Type: Comprises rail raised, gutter, roof mount, and others
Segmentation by Material: Comprises aluminium alloy, composite plastic, and others.
Segmentation by Application: Comprises commercial vehicles and passenger cars
Segmentation By Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
In North America, automobile manufacturer will continue to see an increase in the sales of the passenger cars. The increase in demand of the new vehicles will enable the growth of the auto components suppliers. The automotive manufacturers have shifted their preference from small cars to higher-value pickups and SUVs. This will enable more installation of roof racks on SUVs and pickup vans for transportation. The auto market in U.S. has been powered by the low interest rate and low fuel price which has allowed the market to grow during the forecast period. The buying condition will remain positive due to the low interest rate and will boost the sales of the new vehicle. This increase in sale of new vehicle will led to the growth of roof racks market.
China is one of the major automotive market in Asia. The automotive industry continues to grow in China due to increased production of passenger and commercial vehicles. FDI is one of the major factor for the growth of automotive industry in China. The automaker in China are developing new and trade friendly policies that enable them to produce larger number of vehicles. The increase in the production of vehicle will led to the growth of roof rack market.
Table Of Contents
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
List of Tables:
TABLE 1 GLOBAL AUTOMOTIVE ROOF RACKS MARKET: BY REGION, 2018-2023
TABLE 2 NORTH AMERICA AUTOMOTIVE ROOF RACKS MARKET: BY COUNTRY, 2018-2023
TABLE 3 EUROPE AUTOMOTIVE ROOF RACKS MARKET: BY COUNTRY, 2018-2023
TABLE 4 ASIA-PACIFIC AUTOMOTIVE ROOF RACKS MARKET: BY COUNTRY, 2018-2023
List of Figures:
FIGURE 1 RESEARCH METHODOLOGY
FIGURE 2 GLOBAL AUTOMOTIVE ROOF RACKS MARKET: BY MATERIAL (%)
FIGURE 3 GLOBAL AUTOMOTIVE ROOF RACKS MARKET: BY APPLICATION (%)
FIGURE 4 GLOBAL AUTOMOTIVE ROOF RACKS MARKET: BY REGION
FIGURE 5 NORTH AMERICA AUTOMOTIVE ROOF RACKS MARKET, BY MATERIAL (%)
FIGURE 6 NORTH AMERICA AUTOMOTIVE ROOF RACKS MARKET, BY APPLICATION (%)
FIGURE 7 EUROPE AUTOMOTIVE ROOF RACKS MARKET, BY MATERIAL (%)
FIGURE 8 EUROPE AUTOMOTIVE ROOF RACKS MARKET, BY APPLICATION (%)
FIGURE 9 ASIA-PACIFIC AUTOMOTIVE ROOF RACKS MARKET, BY MATERIAL (%)
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