Automotive Roof Racks Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Description
Growth Factors of Automotive Roof Racks Market
The global automotive roof rack market is experiencing significant growth, driven by increasing consumer interest in outdoor activities, leisure travel, and the rising popularity of SUVs and crossovers. According to Fortune Business Insights, the market size was valued at USD 2.11 billion in 2020 and is projected to reach USD 3.39 billion by 2028, growing at a compound annual growth rate (CAGR) of 6.49% during the forecast period from 2021 to 2028.
Market Drivers
Several factors contribute to the expansion of the automotive roof rack market:
1. Rising Outdoor Activities: The increasing participation in activities such as cycling, camping, skiing, and kayaking has heightened the demand for roof racks, which facilitate the transportation of gear and equipment.
2. Growth of SUVs and Crossovers: The popularity of SUVs and crossovers, which often come equipped with roof rails, has bolstered the demand for compatible roof rack systems.
3. Urbanization and Travel Trends: Urbanization, coupled with a growing preference for road trips and domestic travel, has led to a surge in the need for additional cargo space, further driving the adoption of roof racks.
Market Segmentation
The automotive roof rack market is segmented based on product type, vehicle type, and region:
Product Type:
Raised Rail Racks: These are the most common type, offering versatility and ease of installation.
Roof Mount Racks: Known for their aerodynamic design, these racks are gaining popularity due to their fuel efficiency benefits.
Gutter Mount Racks: Suitable for older vehicles without factory-installed rails, these racks provide a secure mounting option.
Vehicle Type:
Passenger Cars: Dominating the market, passenger cars account for a significant share due to their widespread use and compatibility with various roof rack systems.
Commercial Vehicles: The demand for roof racks in commercial vehicles is increasing, driven by the need for additional cargo space in industries such as logistics and transportation.
Region:
Asia Pacific: Leading the market with a share of 34.6% in 2020, the region's growth is attributed to rapid urbanization, increasing disposable incomes, and a growing interest in recreational activities.
North America: The U.S. market is projected to grow significantly, reaching an estimated value of USD 695.22 million by 2028, fueled by a strong culture of outdoor activities and leisure travel.
Europe: Countries like Germany and France are key contributors to the market, driven by high vehicle ownership rates and a strong preference for road trips.
Competitive Landscape
The automotive roof rack market is characterized by the presence of several key players, including:
Thule Group (Sweden)
Yakima Products Inc. (U.S.)
Magna International Inc. (Canada)
Minth Group Limited (China)
VDL Hapro bv (Netherlands)
These companies are focusing on product innovation, strategic partnerships, and expanding their global presence to capitalize on the growing demand for roof rack systems.
Future Outlook
The automotive roof rack market is poised for continued growth, driven by evolving consumer preferences and advancements in product design. The increasing adoption of electric vehicles (EVs) presents new opportunities, with manufacturers developing roof rack solutions compatible with EV specifications. Additionally, the trend towards lightweight and aerodynamic designs is expected to gain momentum, aligning with the automotive industry's focus on fuel efficiency and sustainability.
In conclusion, the automotive roof rack market is set to expand significantly in the coming years, supported by favorable market dynamics and technological advancements. Stakeholders in the automotive and outdoor recreation industries should consider these trends to leverage growth opportunities and meet the evolving needs of consumers.
ATTRIBUTE DETAILS
Study Period 2017-2028
Base Year 2020
Estimated Year 2021
Forecast Period 2021-2028
Historical Period 2017-2019
Unit Value (USD Billion)
Segmentation By Product Type
Raised Rail
Roof-Mount
Gutter
By Vehicle Type
Passenger Cars
Commercial Vehicles
By Geography
North America ( By Product Type, By Vehicle Type)
U.S. (By Vehicle Type)
Canada (By Vehicle Type)
Mexico (By Vehicle Type)
Europe (By Product Type, By Vehicle Type)
U.K. (By Vehicle Type)
Germany (By Vehicle Type)
France (By Vehicle Type)
Rest of Europe (By Vehicle Type)
Asia Pacific (By Product Type, By Vehicle Type)
China (By Vehicle Type)
Japan (By Vehicle Type)
India (By Vehicle Type)
South Korea ( By Vehicle Type)
Rest of APAC (By Vehicle Type)
Rest of the World (By Product Type, By Vehicle Type)
Please Note:
It will take 5-6 business days to complete the report upon order confirmation.
The global automotive roof rack market is experiencing significant growth, driven by increasing consumer interest in outdoor activities, leisure travel, and the rising popularity of SUVs and crossovers. According to Fortune Business Insights, the market size was valued at USD 2.11 billion in 2020 and is projected to reach USD 3.39 billion by 2028, growing at a compound annual growth rate (CAGR) of 6.49% during the forecast period from 2021 to 2028.
Market Drivers
Several factors contribute to the expansion of the automotive roof rack market:
1. Rising Outdoor Activities: The increasing participation in activities such as cycling, camping, skiing, and kayaking has heightened the demand for roof racks, which facilitate the transportation of gear and equipment.
2. Growth of SUVs and Crossovers: The popularity of SUVs and crossovers, which often come equipped with roof rails, has bolstered the demand for compatible roof rack systems.
3. Urbanization and Travel Trends: Urbanization, coupled with a growing preference for road trips and domestic travel, has led to a surge in the need for additional cargo space, further driving the adoption of roof racks.
Market Segmentation
The automotive roof rack market is segmented based on product type, vehicle type, and region:
Product Type:
Raised Rail Racks: These are the most common type, offering versatility and ease of installation.
Roof Mount Racks: Known for their aerodynamic design, these racks are gaining popularity due to their fuel efficiency benefits.
Gutter Mount Racks: Suitable for older vehicles without factory-installed rails, these racks provide a secure mounting option.
Vehicle Type:
Passenger Cars: Dominating the market, passenger cars account for a significant share due to their widespread use and compatibility with various roof rack systems.
Commercial Vehicles: The demand for roof racks in commercial vehicles is increasing, driven by the need for additional cargo space in industries such as logistics and transportation.
Region:
Asia Pacific: Leading the market with a share of 34.6% in 2020, the region's growth is attributed to rapid urbanization, increasing disposable incomes, and a growing interest in recreational activities.
North America: The U.S. market is projected to grow significantly, reaching an estimated value of USD 695.22 million by 2028, fueled by a strong culture of outdoor activities and leisure travel.
Europe: Countries like Germany and France are key contributors to the market, driven by high vehicle ownership rates and a strong preference for road trips.
Competitive Landscape
The automotive roof rack market is characterized by the presence of several key players, including:
Thule Group (Sweden)
Yakima Products Inc. (U.S.)
Magna International Inc. (Canada)
Minth Group Limited (China)
VDL Hapro bv (Netherlands)
These companies are focusing on product innovation, strategic partnerships, and expanding their global presence to capitalize on the growing demand for roof rack systems.
Future Outlook
The automotive roof rack market is poised for continued growth, driven by evolving consumer preferences and advancements in product design. The increasing adoption of electric vehicles (EVs) presents new opportunities, with manufacturers developing roof rack solutions compatible with EV specifications. Additionally, the trend towards lightweight and aerodynamic designs is expected to gain momentum, aligning with the automotive industry's focus on fuel efficiency and sustainability.
In conclusion, the automotive roof rack market is set to expand significantly in the coming years, supported by favorable market dynamics and technological advancements. Stakeholders in the automotive and outdoor recreation industries should consider these trends to leverage growth opportunities and meet the evolving needs of consumers.
ATTRIBUTE DETAILS
Study Period 2017-2028
Base Year 2020
Estimated Year 2021
Forecast Period 2021-2028
Historical Period 2017-2019
Unit Value (USD Billion)
Segmentation By Product Type
Raised Rail
Roof-Mount
Gutter
By Vehicle Type
Passenger Cars
Commercial Vehicles
By Geography
North America ( By Product Type, By Vehicle Type)
U.S. (By Vehicle Type)
Canada (By Vehicle Type)
Mexico (By Vehicle Type)
Europe (By Product Type, By Vehicle Type)
U.K. (By Vehicle Type)
Germany (By Vehicle Type)
France (By Vehicle Type)
Rest of Europe (By Vehicle Type)
Asia Pacific (By Product Type, By Vehicle Type)
China (By Vehicle Type)
Japan (By Vehicle Type)
India (By Vehicle Type)
South Korea ( By Vehicle Type)
Rest of APAC (By Vehicle Type)
Rest of the World (By Product Type, By Vehicle Type)
Please Note:
It will take 5-6 business days to complete the report upon order confirmation.
Table of Contents
200 Pages
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Industry Developments - Merger, Acquisitions, and Partnerships
- 4.2. Distribution Analysis
- 4.3. Porter’s Five Forces Analysis
- 4.4. PEST Analysis
- 4.5. Vendor Landscape
- 4.6. Impact of COVID-19
- 5. Global Automotive Roof Rack Market Analysis, Insights and Forecast, 2017-2028
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Product Type
- 5.2.1. Raised Rail
- 5.2.2. Roof Mount
- 5.2.3. Gutter
- 5.3. Market Analysis, Insights and Forecast – By Vehicle Type
- 5.3.1. Passenger Car
- 5.3.2. Commercial Vehicle
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Rest of the World
- 6. North America Automotive Roof Rack Market Analysis, Insights and Forecast, 2017-2028
- 6.1. Key Findings / Summary
- 6.2. Market Analysis – By Product Type
- 6.2.1. Raised Rail
- 6.2.2. Roof Mount
- 6.2.3. Gutter
- 6.3. Market Analysis, Insights and Forecast – By Vehicle Type
- 6.3.1. Passenger Car
- 6.3.2. Commercial Vehicle
- 6.4. Market Analysis – By Country (Value)
- 6.4.1. U.S.
- 6.4.1.1. By Vehicle Type
- 6.4.2. Canada
- 6.4.2.1. By Vehicle Type
- 6.4.3. Mexico
- 6.4.3.1. By Vehicle Type
- 7. Europe Automotive Roof Rack Market Analysis, Insights and Forecast, 2017-2028
- 7.1. Key Findings / Summary
- 7.2. Market Analysis – By Product Type
- 7.2.1. Raised Rail
- 7.2.2. Roof Mount
- 7.2.3. Gutter
- 7.3. Market Analysis, Insights and Forecast – By Vehicle Type
- 7.3.1. Passenger Car
- 7.3.2. Commercial Vehicle
- 7.4. Market Analysis – By Country (Value)
- 7.4.1. U.K.
- 7.4.1.1. By Vehicle Type
- 7.4.2. Germany
- 7.4.2.1. By Vehicle Type
- 7.4.3. France
- 7.4.3.1. By Vehicle Type
- 7.4.4. Rest of Europe
- 7.4.4.1. By Vehicle Type
- 8. Asia Pacific Automotive Roof Rack Market Analysis, Insights and Forecast, 2017-2028
- 8.1. Key Findings / Summary
- 8.2. Market Analysis – By Product Type
- 8.2.1. Raised Rail
- 8.2.2. Roof Mount
- 8.2.3. Gutter
- 8.3. Market Analysis, Insights and Forecast – By Vehicle Type
- 8.3.1. Passenger Car
- 8.3.2. Commercial Vehicle
- 8.4. Market Analysis – By Country (Value)
- 8.4.1. China
- 8.4.1.1. By Vehicle Type
- 8.4.2. Japan
- 8.4.2.1. By Vehicle Type
- 8.4.3. India
- 8.4.3.1. By Vehicle Type
- 8.4.4. South Korea
- 8.4.4.1. By Vehicle Type
- 8.4.5. Rest of Asia Pacific
- 8.4.5.1. By Vehicle Type
- 9. Rest of the World Automotive Roof Rack Market Analysis, Insights and Forecast, 2017-2028
- 9.1. Key Findings / Summary
- 9.2. Market Analysis – By Product Type
- 9.2.1. Raised Rail
- 9.2.2. Roof Mount
- 9.2.3. Gutter
- 9.3. Market Analysis, Insights and Forecast – By Vehicle Type
- 9.3.1. Passenger Car
- 9.3.2. Commercial Vehicle
- 10. Competitive Analysis
- 10.1. Key Industry Developments
- 10.2. Global Market Share Analysis (2020)
- 10.3. Competition Dashboard
- 10.4. Comparative Analysis – Major Players
- 10.5. Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
- 10.5.1. JAC Products (Michigan, USA)
- 10.5.1.1. Overview,
- 10.5.1.2. Products & services,
- 10.5.1.3. SWOT analysis,
- 10.5.1.4. Recent developments,
- 10.5.1.5. strategies,
- 10.5.1.6. financials (based on availability)
- 10.5.2. Magna International, Inc. (Ontario, Canada)
- 10.5.2.1. Overview,
- 10.5.2.2. Products & services,
- 10.5.2.3. SWOT analysis,
- 10.5.2.4. Recent developments,
- 10.5.2.5. strategies,
- 10.5.2.6. financials (based on availability)
- 10.5.3. Minth Group Limited (Ningbo, China)
- 10.5.3.1. Overview,
- 10.5.3.2. Products & services,
- 10.5.3.3. SWOT analysis,
- 10.5.3.4. Recent developments,
- 10.5.3.5. strategies,
- 10.5.3.6. financials (based on availability)
- 10.5.4. VDL Hapro bv (Kapelle, Netherlands)
- 10.5.4.1. Overview,
- 10.5.4.2. Products & services,
- 10.5.4.3. SWOT analysis,
- 10.5.4.4. Recent developments,
- 10.5.4.5. strategies,
- 10.5.4.6. financials (based on availability)
- 10.5.5. Yazaki Corporation (Tokyo, Japan)
- 10.5.5.1. Overview,
- 10.5.5.2. Products & services,
- 10.5.5.3. SWOT analysis,
- 10.5.5.4. Recent developments,
- 10.5.5.5. strategies,
- 10.5.5.6. financials (based on availability)
- 10.5.6. Yakima Products Inc (Oregon, USA)
- 10.5.6.1. Overview,
- 10.5.6.2. Products & services,
- 10.5.6.3. SWOT analysis,
- 10.5.6.4. Recent developments,
- 10.5.6.5. strategies,
- 10.5.6.6. financials (based on availability)
- 10.5.7. Atera GmbH (Allgäu, Germany)
- 10.5.7.1. Overview,
- 10.5.7.2. Products & services,
- 10.5.7.3. SWOT analysis,
- 10.5.7.4. Recent developments,
- 10.5.7.5. strategies,
- 10.5.7.6. financials (based on availability)
- 10.5.8. Sumitomo Electric (Tokyo, Japan)
- 10.5.8.1. Overview,
- 10.5.8.2. Products & services,
- 10.5.8.3. SWOT analysis,
- 10.5.8.4. Recent developments,
- 10.5.8.5. strategies,
- 10.5.8.6. financials (based on availability)
- 10.5.9. Rhino-Rack (Sydney, Australia)
- 10.5.9.1. Overview,
- 10.5.9.2. Products & services,
- 10.5.9.3. SWOT analysis,
- 10.5.9.4. Recent developments,
- 10.5.9.5. strategies,
- 10.5.9.6. financials (based on availability)
- 10.5.10. Thule Group (Smaland, Sweden)
- 10.5.10.1. Overview,
- 10.5.10.2. Products & services,
- 10.5.10.3. SWOT analysis,
- 10.5.10.4. Recent developments,
- 10.5.10.5. strategies,
- 10.5.10.6. financials (based on availability)
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