Automotive Roof Racks Market is predicted to reach USD 2215.4 million at a CAGR of 5.9% during the forecast period

Pune, India, Sep 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Automotive Roof Racks Market.

Automotive roof racks are attached to the roof of the vehicles to carry heavy luggage. They allow users to transport luggage without compromising on the boot space in the vehicle. The configuration of the roof rack can be changed depending on the needs for carrying the luggage. There are various types of roof racks available in the market, depending on the needs of the consumers.

Automotive Roof Racks Synopsis

According to the MRFR analysis, the global Automotive roof racks market size is projected to reach USD 2215.4 million by 2030 at a CAGR of 5.9%.

The global automotive roof racks market is driven by factors such as increasing tourism and off-road trails and the limited availability of boot space in vehicles. However, fluctuating raw material prices are expected to restrain the market growth. The proliferating electric vehicle demand is expected to create growth opportunities for the Automotive roof racks market players.

With the continuous spread of the novel coronavirus across the world, automakers are taking extreme measures in the form of plant closures to halt the spread of COVID-19. The regional impacts of the pandemic outbreak are highly variable, but as it spreads, the status in the harder hit areas provides a glimpse of what may be witnessed in the near future. Additionally, as the pandemic is tearing apart the automotive sector, day by day, the global players in the automotive industry are focusing on the development of preventive measures and new business strategies to address the current as well as the future situation in the global market. The pandemic has hampered the growth rathe of global automotive roof racks market.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Automotive Roof Racks Market Research Report

Automotive Roof Racks Market Competitive Landscape

The global automotive roof racks market is characterized by the presence of many local, regional, and global vendors. The market is highly competitive, with all the players continually competing to gain a larger market share. High competition, rapid advances in technology, frequent changes in government policies, and stringent environmental regulations are some of the critical factors that could restrain the Automotive roof racks market growth. The vendors compete in terms of cost, product quality, reliability, and aftermarket services. Vendors must provide cost-effective and efficient products to survive and succeed in a competitive market environment.

Thule Group, Atera GmbH, Rhino-Rack, Cruzber S.A., and Yakima, Inc are some of the key players operating in the global Automotive roof racks market.

Segmentation

Automotive Roof Racks Market Based on type:

• Roof mount: Roof mount roof rack is installed by the automotive manufacturers or aftermarket players on the roof of the vehicles with the support of clamps that are attached to the vehicle doors. It does not require any kind of bars or gutter for fixing the rack. They are generally used in tourist vehicles for carrying heavy luggage as well as bulky equipment including sporting goods, camping gear, among others for long-distance transport.


• Raised grill: Raised grill roof racks are affixed on the car and SUVs roof. Rail/grill raised are the rails that are attached to the roof of the cars parallel to the length of the car that supports the luggage. The space between the rail and the roof of the car aids in the addition of boot space for the vehicle. The major components of the raised rail roof rack are rack cross bar and rack feet.


• Gutter: Gutter roof racks are directly attached to the gutter of the vehicle. This type of roof racks can be set to multiple configurations to meet the exact requirement of the customer that will propel the product demand over the forecast time frame. Gutter roof racks are one of the oldest types of roof racks used to carry heavy loads on the vehicles. They are generally found on full-sized cargo or passenger cars.


• Others: Others include tracks and fixed points. Tracks have a bar attached to the outer edge of the roof rack from the front end to the back end. They are mostly used in passenger cars for transporting lightweight luggage.

Automotive Roof Racks Market Based on material:

• Aluminum alloy: An aluminum alloy consists of metals such as iron, silicon, copper, magnesium, and zinc. These elements are added to pure aluminum in a molten state to form an alloy with the required strength and physical properties. Aluminum alloy finds its application in roof rack owing to its lightweight and ability to withstand high loading bearing capacity.


• Composite plastic: Composite plastic is made from two or more different materials with significant physical and chemical properties. It provides high strength and is lightweight owing to the use of fillers, fibers, powders, particulates, and other matrix reinforcements in its formation process. It also has high stiffness and available at a low cost that will propel its share in the automotive roof racks market share.


• Others: Others include roof racks manufactured from materials, including carbon fiber and iron. Carbon fibers are used in roof racks due to their higher tensile strength, stiffness, chemical resistance, and high-temperature resistance. Iron is rarely used in roof rack owing to its increased weight as compared to other materials that also affects the fuel efficiency of the vehicle.

Automotive Roof Racks Market Based on vehicle type:

• Commercial vehicle: Commercial vehicles accounted for a significant share in terms of value in the global automotive roof racks market. Commercial vehicles, including pickup trucks, vans, and SUVs, find significant applications in the automotive roof rack. The key factor that has driven the automotive roof racks market for commercial vehicles is the increasing demand for pickup trucks and vans for commercial purposes.


• Passenger cars: Passenger cars accounted for the steady share for the global automotive roof racks market. The market for the automotive roof rack is primarily driven by the rising demand for passenger cars among large pools of population along with increasing per capita income in emerging countries.

Automotive Roof Racks Market Based on region:

• North America: North America is anticipated to be the largest market for automotive roof racks during the study period due to increased demand for larger boot space and the rise in tourism and off-road trails. However, the US is one of the largest automotive markets in the world. Many European, Japanese, and Korean auto-manufacturers have invested heavily into the region to build manufacturing sites and R&D facilities and expand their market reach.


• Europe: The automotive industry in the European continent is one of the leading contributors to the regional economy. According to the European Commission, the automotive industry employs over 13.8 million individuals representing more than 6.1% of total regional employment. However, Europe is among the top producers of motor vehicles and invests heavily in R&D to innovate. Leading economies, such as Germany, the UK, and France, are leading the regional automobile market.


• Asia-Pacific: The rapid economic developments in the continent are increasing the demand for effective mobility solutions that, in turn, boost the growth of the automotive industry sector producing automotive vehicles and aftermarket parts. Additionally, the countries such as China and India are ranked top in the production of steel globally, driving the automobile manufacturing practices. The Chinese automotive industry is one of the major markets for regional and global players. These players offer a wide range of passenger as well as commercial vehicles. Factors contributing to the market growth comprise of postponement of implementing the China Six Emission Standard, support through fiscal & taxation benefits, elimination of outdated diesel-engine truck, suspension of retaliatory tariffs to support US automobiles at the end of 2019, low labor cost, business-friendly policies, and availability of steel are boosting the automotive market growth.


• Rest of the World: Countries such as UAE and other oil-rich Gulf countries are importing high-end sports and utility vehicles and luxury cars from foreign countries. However, the investments in the establishment and promotion of the manufacturing industry in the region are expected to boost the demand for innovative technologies, R&D, and a skilled workforce. The demand for automotive vehicles in Africa is slowly rising from countries such as Angola, Ethiopia, Ghana, Kenya, Namibia, Nigeria, Rwanda, and South Africa. The demand is increasing in emerging countries that show potential towards market growth.