Automotive Roof Racks Market To Grow At Exponential Growth Rate From 2019 To 2023 - Leading Players Analysis Magna International, Cruzber, BOSAL, MINTH Group, VDL Hapro, And Yakima Products Analysis

Automotive Roof Racks Market to Witness Evolutionary Growth Rate of 6.69% From 2019 To 2023. The global Automotive Roof Racks market is majorly driven by increase in production of vehicles, and growth in travel and tourism sector. There has been an increase in investment in travel and tourism sector due to which the use of roof rack to carry the luggage has been widely used. Automotive Roof Racks Market Segmented by Material (Aluminum Alloy, Composite Plastic and Others), Type (Roof Mount, Raised Rail, Gutter and others), Application (Commercial Vehicles and Passenger Cars), and Region.

The foremost companies in the Automotive Roof Racks market consist of 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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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.

Detailed Regional Analysis:

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 Content:

1. REPORT PROLOGUE

2. INTRODUCTION

2.1. DEFINITION

2.2. SCOPE OF THE STUDY

2.2.1. RESEARCH OBJECTIVE

2.2.2. ASSUMPTIONS

2.2.3. LIMITATIONS

2.3. MARKET STRUCTURE

2.4. MARKET SEGMENTATION

Continued…

LIST OF TABLES:

Table 1 Global Automotive Roof Racks Market: By Type, 2014-2022 (USD Billion)

Table 2: Automotive Roof Racks Global Market, By Region, 2014-2022 (USD Billion)

Table 3 Automotive Roof Racks Glboal Market, By Region, 2014-2022 (USD Billion)

Table 4 Automotive Roof Racks Glboal Market, By Region, 2014-2022 (USD Billion)

Continued…

LIST OF FIGURES:

FIGURE 1 Automotive Roof Racks Global Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Five Forces Analysis Of Automotive Roof Racks Global Market

FIGURE 4 Value Chain Of Automotive Roof Racks Global Market

Continued…

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