Global Automotive Bicycle Rack Market 2018-2022
About Automotive Bicycle Rack
Automotive bicycle racks are used for transporting bicycles in vehicles. These are used by adventure enthusiasts, long-distance travelers, and bicycle enthusiasts.
Technavio’s analysts forecast the global automotive bicycle rack market to grow at a CAGR of 4.63% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive bicycle rack market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Bicycle Rack Market 2018-2022
Technavio recognizes the following companies as the key players in the global automotive bicycle rack market: AllenSportsUSA, Küat, SARIS, Thule Group, and Yakima Products.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing demand for bicycle racks from car rental companies. Car rental service providers are increasingly focusing on offering value-added services such as the provision of bicycle racks for cars to increase market penetration and gain consumer preference, especially from individuals inclined towards adventure tourism.”
According to the report, one driver in the market is increasing demand for adventure tourism. Adventure tourism activities such as mountaineering, trekking, and cycling are becoming increasingly popular among consumers in North America and Europe.
Further, the report states that one challenge in the market is decreased fuel efficiency of vehicles. Increased vehicle weight and high engine power reduce the fuel consumption of any automotive. Installation of bicycle racks adds significant weight to vehicles, which in turn, reduces their fuel efficiency.
AllenSportsUSA, Küat, SARIS, Thule Group, and Yakima Products.
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