Automotive Roof Racks Market is projected to grow at 6.69% Compound Annual Growth Rate during forecast period of 2018 to 2023. This Global Automotive Roof Racks Market growth is driven by factors such as growth in tourism sector, increase in production of vehicles, and limited boot space in cars. The roof rack has various constraints that hinder the market such as fluctuation in raw material prices and increase in weight of the vehicle. Automotive Roof Racks Market segmented by Material (Aluminum Alloy, Composite Plastic and Others), Type (Roof Mount, Raised Rail, Gutter and others), Application (Commercial Vehicles and Passenger Cars), and by Region.
Automotive Roof Racks Market Key Company Analyzed For This Research Report Are:
Thule Group (Sweden), Magna International, Inc.(Ontario), VDL Hapro bv (Netherlands), MINTH Group Limited(China), Cruzber S.A (Spain), Atera GmbH (Germany), Rhino-Rack (U.S.), BOSAL (Belgium), JAC Products (U.S.) and Yakima Products Inc. ( U.S.).
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The expanding transport projects in emerging nations are expected to reveal greater logistics opportunities and increase the demand for commercial and passenger vehicles in the Asia-Pacific, significantly over the Forecasted period. The automotive roof rack market is completely dependent on the automotive industry. Thus the increasing or decreasing demand of the automotive industry directly has an impact on the market. The total vehicle production for the year 2015 was almost 90 million units and is expected to witness further boost and reach more than 100 million units by the year 2023. A roof rack are group of bars that are attached at the top of the vehicles. The main purpose of roof rack is used to carry bulk items such as luggage, bicycles and various carriers. Roof racks allows the user to carry an object from one place to other without reducing the interior space. The most common type of roof racks are rails, towers, and mount. Roof racks are majorly used in cars and trucks. The material that are commonly used in roof racks are aluminum alloy, composite plastic, and among others.
A roof rack are group of bars that are attached at the top of the vehicles. The main purpose of roof rack is used to carry bulk items such as luggage, bicycles and various carriers. Roof racks allows the user to carry an object from one place to other without reducing the interior space. The most common type of roof racks are rails, towers, and mount. Roof racks are majorly used in cars and trucks. The material that are commonly used in roof racks are aluminum alloy, composite plastic, and among others.
The Asia-Pacific region is expected to dominate the automotive roof rack market due to the increase in the production of vehicle and rising sales of vehicle due to increase in disposable income. The growing demand of vehicle by the tourism sector has also led to the increase use of roof racks. This rise in the tourism sector will accelerate the growth of the automotive roof racks market. North America is expected to be the second largest region in automotive roof rack market due to the large number of automotive present in these region.
Automotive Roof Racks Market Competitive Analysis:
The highly competitive market of the Automotive Roof Racks is dependent on automobile sales and is driven by the increase in automotive production. The market is fragmented owing to the presence of several large and small key players accounting for a substantial market share. Well established players incorporate acquisition, collaboration, partnership, expansion, product & technology launch to gain the competitive edge and to maintain market position. Competitive by nature, this market is envisaged to intensify with more entrants get attracted to the mass market.
The report for Automotive Roof Racks Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Major Table Of Content:
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
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