About Bike Racks
A bike car rack consists of a set of bars mounted on the roof, hitch or trunk of a car that secures bikes for transportation. While some vehicles include factory-installed car racks, others need to be fitted with aftermarket parts. Since most bike car racks are temporarily fitted, aftermarket parts are used. Vendors are focusing on modern product designs with more features.
Technavio’s analysts forecast the Global Bike Car Rack Market to grow at a CAGR of 5% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the Global Bike Car Rack Market for 2016-2020.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Bike Car Rack Market 2016-2020
Technavio recognizes the following companies as the key players in the global bike car rack market: Thule, Yakima, Allen Sports, and Küat.
Other Prominent Vendors in the market are: Prorack, Rockymounts, RhinoRack, Saris, Sport rack, Swagman, and Whispbar.
Commenting on the report, an analyst from Technavio’s team said: “A trend to watch for is the emerging use of racks among rental car service providers. The trend of on-demand economy has introduced the concept of ridesharing, and this shift in transportation has benefitted many car rental companies. Car rental companies across the globe provide value have added services to their customers to gain market share. Due to the increasing demand for recreational activities, car rental service providers are installing bike racks on their cars.”
According to the report, a key growth driver is the surge in recreational activities. Increased urbanization, hectic lifestyles, over-crowded cities, and rising environmental pollution has boosted the consumer need for getaways that include outdoor adventure activities. As people realize the health benefits of outdoor activities, they will participate more in cycling and other recreational activities. Outdoor recreational activities are rapidly gaining popularity in Europe and North America. Changes in lifestyle, attitudes, and demographic are resulting in increased spending on recreational activities. This, in turn, has increased the expenditure on related equipment like bike car racks.
Further, the report states that one challenge which can impact market growth is the complexity of installing and taking down a bike rack.
Thule, Yakima, Allen Sports, KüatProrack, Rockymounts, RhinoRack, Saris, Sport rack, Swagman, Whispbar.
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