Automotive Roof Racks Market : USD 5,587.3 Million by 2023 with 6.69% CAGR
Global Automotive Roof Racks Market Information Report by Material (Aluminum Alloy, Composite Plastic and Others), By Type (Roof Mount, Raised Rail, Gutter and others), By Application (Commercial Vehicles and Passenger Cars), and by Region - Global Forecast to 2023
Pune, India -- (SBWire) -- 01/30/2018 --Market research future published cooked research report on global automotive roof racks market. The automotive roof racks market is expected to grow over the CAGR of around 6.69% during the period 2017 to 2023.
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.
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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.
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.
The key players in automotive roof racks market are 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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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.
- Aluminium Alloy
- Composite Plastic
- Roof Mount
- Raised Rail
- Commercial Vehicles
- Passenger Cars
- North America
- Asia Pacific
- Rest of the World
The report for Automotive Roof Racks by Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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