Global Car Roof Racks Market Overview:
A car roof rack is an arrangement of bars that adhere to the top of the cars carefully so as not to compromise the structure of the roof. Its main function is to condition the car so that it can carry out the transfer of large and heavy objects that may or may not fit inside it but are of such volume that they reduce much space for passengers. The modern storage rack comes loaded with features like LED lights, water and weather resistance, a roof rack that can accommodate rough terrain, etc. these are reasons which are boosting this market.
Growth Drivers
- Increasing Tourism and Travel Industry
- Rising Tourists for Long Journeys along with Their Luggage
Roadblocks
- Fluctuation in the Cost of Raw Material
Opportunities
- Rising Inclination towards Outdoor and Recreational Activities
- Increasing Demand for Customized Vehicle which Consists of the Legroom Inside the Vehicle Providing a Reliable and Sturdy mode for Transporting Sports and Other Equipment
Challenges
- Dust Collection Under the Feet which Rubs away the Clearcoat and the Straps Scratching the Paint
Competitive Landscape:
Some of the key players profiled in the report are Thule (Sweden), JAC (United States), Delphi Automotive (Ireland), YAKIMA (United States), Yazaki Corporation (Japan), Mont Blanc (Sweden), Hapro ( Netherlands), INNO (Japan), Atera (Germany) and SportRack (United States). Additionally, following companies can also be profiled that are part of our coverage like Cruzber S.A.(Spain), Strona (Taiwan) and Rhino-Rack (United States). Analyst at AMA Research see United States Vendors to retain maximum share of Global Car Roof Racks market by 2027. Considering Market by Distribution Channel, the sub-segment i.e. Online will boost the Car Roof Racks market. Considering Market by Component of Rack, the sub-segment i.e. Towers will boost the Car Roof Racks market. Considering Market by By Material, the sub-segment i.e. Steel will boost the Car Roof Racks market.
Latest Market Insights:
In Dec 2018, Thule Group pleased to announce the acquisition of Tepui Outdoors Inc., a leader in Roof Top Tents in North America. This acquisition will further enhance the Thule Group’s expanding portfolio of products focused on an active lifestyle.
What Can be Explored with the Car Roof Racks Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Car Roof Racks Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Car Roof Racks
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Car Roof Racks market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Car Roof Racks market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Car Roof Racks Manufacturer, Car Roof Racks Distributor/Supplier, Raw Material Supplier and Automotive Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.