Automotive Roof Racks Market Trends, Demand & Competitor Analysis 2023

Market Highlights:
Automotive roof racks is expected to witness growth due to factor such as 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. This will led to the growth of this market. The increase in vehicle production will also led to increase in use of roof racks in cars. This will led to the growth of automotive roof racks market. The global automotive roof racks market is expected to grow at approximately 6.69 % CAGR from 2017 to 2023.

A roof rack are 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. The most common type of roof racks are rails, towers, and mount. Roof racks are majorly used in cars and trucks. The material that are commonly used in roof racks are aluminum alloy, composite plastic, and among others.

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The Asia-Pacific region is expected to dominate the automotive roof rack market due to the increase in the production of vehicle and rising sales of vehicle due to increase in disposable income. The growing demand of vehicle by the tourism sector has also led to the increase use of roof racks. This rise in the tourism sector will accelerate the growth of the automotive roof racks market. North America is expected to be the second largest region in automotive roof rack market due to the large number of automotive present in these region.

Key Players of Automotive Roof Racks Market:
• 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.)
• Yakima Products Inc. (U.S.)

Scope of the Report:
This study provides an overview of the global automotive roof racks market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global automotive roof racks market by its Material, by, by Type, Application, and by region.

By Material
• Aluminium Alloy
• Composite Plastic
• Others

By Type
• Roof Mount
• Raised Rail
• Gutter
• Others

By Application
• Commercial Vehicles
• Passenger Cars

By Region
• North America
• Europe
• Asia Pacific
• Rest of the World

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Market Research Analysis:
Asia-Pacific region is expected to dominate the automotive roof racks market due to the increase investment in tourism sector. The increase investment in tourism sector will led to the increase in the use of commercial and passenger car which will result in the growth of this market. North America is expected to hold the majority of share of this market due to the large number of vehicle present in this region. The consumer in this region prefer their vehicle with high end automotive system such as roof bars. This will led to the growth of automotive roof racks market globally.

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