Global Car Rack Market 2017-2021
About Car Racket
A car rack consists of a set of bars mounted on the roof, hitch, or trunk of a car that secures bikes and skiing equipment for transportation. It acts as an anchor, which supports and securely holds many items, amplifying the luggage-carrying capacity of a car.
Technavio’s analysts forecast the global car racket market to grow at a CAGR of 6.23% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global car racket market for 2017-2021. To analyze business dimensions with an eye on individual growth trends and contribution of upcoming market segments.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Car Racket Market 2017-2021
Technavio recognizes the following companies as the key players in the global car racket market: Allen Sports, Thule, and Yakima Products.
Other Prominent Vendors in the market are: Atera, CARMATE, CRUZBER, HandiWorld, Hapro, JAC Products, KAMEI, Küat, Malone Auto Racks, Mont Blanc, Pendle Engineering, and Rhino-Rack.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing initiatives to enhance participation in skiing. Many countries across the globe with access to snow mountains are rising their initiatives to increase participation in skiing, as the skiing industry contributes to the economy of these countries. In 2015, the skiing industry contributed around $5 billion to Colorado's economy. Skiers not only spend on equipment but also on lodging in resorts and transportation.”
According to the report, one of the major drivers for this market is increasing demand for smaller cars. Several car manufacturers have introduced compact cars that come with a limited boot capacity. The hike in fuel prices has led to the downsizing of vehicles, and therefore, people prefer smaller cars over premium big cars as they are light, compact, and run with lower costs.
Further, the report states that one of the major factors hindering the growth of this market is difficulties in installation. The car racks can be installed or removed based on the need and preference of the consumer. However, the task of removing and fitting the racks is tedious. While some car racks are easier to fix and remove, others often involve technical steps. The process of attaching and removing these racks sometimes also damage the frame or paint job of the car concerned.
Allen Sports, Thule, Yakima Products, Atera, CARMATE, CRUZBER, HandiWorld, Hapro, JAC Products, KAMEI, Küat, Malone Auto Racks, Mont Blanc, Pendle Engineering, and Rhino-Rack.