Vehicle Cargo Box Market Expansion Projected to Gain an Uptick During 2018 - 2028

Vehicle cargo box is an add-on storage provision for vehicles which require extra storage capacity during traveling. Vehicle cargo box provides extra space to store luggage or any other item one wants to carry on a trip during vacation. These are more preferred by families as they are much viable to carry all the extra luggage they could, while going on long and far trips. Vehicle cargo box is durable with UV, water and scratch resistance and are usually made of ABS material. Vehicle cargo box is designed in such a way to offer reduce wind resistance and better aerodynamic properties to reduce consumption of fuel caused by extra luggage. Vehicle cargo box is ideal for small families and people with small cars who travel often and are actively involved in outdoor camping trips and have the need to carry extra luggage. The growing urban population is also expected to drive the vehicle cargo box market in the coming years.

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Vehicle Cargo Box Market: Dynamics

As the population grows, cities are becoming denser with increasing number of vehicles. This has increased the need for compact vehicles and in turn increased the demand for clever and innovative storage solutions in vehicles. Vehicle cargo box market is gaining traction because of these reasons. In developed countries, vehicle cargo box is becoming norm as they offer cargo and luggage solutions for compact vehicles. Especially for people who are actively engaged in traveling and outdoor camping activities.

Vehicle cargo box market is expected to have major growth in developed countries and countries with high per capita income, as they are expensive and not affordable by everyone. The growing tourism industry is also expected to propel the vehicle cargo box market, as it directly affects the growing number of camping population.

The cost of procurement associated with vehicle cargo box can be a restraint for the growth of the vehicle cargo box market, as they are very expensive with high-end cargo boxes price range varying from US$ 400-800. This could hamper the growth of the vehicle cargo box market, especially in developing and economically backward countries.

Vehicle Cargo Box: Market Segmentation

On the basis of size, the global vehicle cargo box market has been segmented as:

Less than 12 cubic feet
12-18 cubic feet
Greater than 18 cubic feet
On the basis of length, the global vehicle cargo box market has been segmented as:

Short vehicle cargo box
Long punch Vehicle cargo box
On the basis of cross-bar attachment, the global vehicle cargo box market has been segmented as:

Round
Square
Aerodynamic
Vehicle Cargo BoxMarket: Regional Overview

North America and Europe regions are expected to occupy majority of the market share in vehicle cargo box market, as both the regions have a large number of population involved in outdoor camping activities and a higher GDP per capita income. These regions are also expected to register robust growth in the vehicle cargo box market. Growing urban population in China, India and other developing nations in the Asia-Pacific region will contribute towards the growth of vehicle cargo box market in the region. Japan is also expected to register a significant growth rate during the forecast period in the vehicle cargo box market. Africa region is expected to witness the lowest amount of growth in the vehicle cargo box market owing to economically backward countries and lack of any significant camping activities in the region. Middle East is estimated to register a robust growth rate in the vehicle cargo market during the forecast period due to the growing tourism industry in the region.

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Global Vehicle Cargo BoxMarket: Key Players

Examples of some of the market participants in the global vehicle cargo boxmarket identified across the value chain include:

Yakima Products Inc
Thule
SportRack
AJANTA ENTERPRISE
Guangzhou Chengz Enterprise Co.,Ltd
KAMEI
Packline AS
Rhino-Rack USA, LLC

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This release was published on openPR.