Automotive Roof Racks Market Summary
As per Market Research Future Analysis, the Automotive Roof Racks Market was valued at USD 1.57 Billion in 2023 and is projected to grow to USD 2.50 Billion by 2032, with a CAGR of 5.23% from 2024 to 2032. Key drivers include increased tourism, adventure sports, and a growing preference for vehicles with luggage carriers. The demand for roof racks is further fueled by rising disposable incomes and the youth's inclination towards outdoor activities. The market is segmented by type, with roof mount racks holding the largest share, and by material, where aluminum alloy is expected to dominate due to its lightweight and high payload capacity. North America leads the market, driven by cycling and snowboarding activities, followed by Europe and Asia-Pacific, with China and India showing significant growth potential.
Key Market Trends & Highlights
The Automotive Roof Racks Market is experiencing significant growth driven by tourism and outdoor activities.
- Market Size in 2023: USD 1.57 Billion
- Projected Market Size by 2032: USD 2.50 Billion
- CAGR from 2024 to 2032: 5.23%
- North America holds the largest market share due to high cycling and snowboarding activities.
Market Size & Forecast
2023 Market Size | USD 1.57 Billion |
2024 Market Size | USD 1.66 Billion |
2032 Market Size | USD 2.50 Billion |
CAGR (2024-2032) | 5.23% |
Major Players
Key players include Thule Group (US), Yakima, Inc. (US), JAC Products (US), Rhino Rack (Australia), and Cruzber SA (Spain).