Bike car rack market to grow by USD 583.46 million from 2022 to 2027; the market is fragmented due to the presence of prominent companies like 1UP USA, Allen Sports USA & Alpaca Carriers Inc., and many more- Technavio

NEW YORK, Dec. 4, 2023 /PRNewswire/ -- The bike car rack market is estimated to grow by USD 583.46 million from 2022 to 2027, growing at a CAGR of 6.98%. The bike car rack market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer bike car rack market are 1UP USA, Allen Sports USA, Alpaca Carriers Inc., Atera GmbH, Car Mate Mfg Co Ltd, CRUZBER SAU, Heininger Holdings LLC, Hollywood Racks, Kuat Innovations LLC, LCI Industries, Mont Blanc Group AB, Rhino Rack Pty Ltd., RockyMounts Inc., Saris Cycling Group Inc., SportRack, Swagman, Thule Sweden AB, Uebler GmbH, VDL Groep BV, and Yakima Products Inc. The report provides a full list of key companies, their strategies, and the latest developments. Download Sample before buying

Company Offering:

• 1UP USA: The company offers bike car racks such as quik rack single, super duty double, and recon rack.
• Allen Sports USA: The company offers bike car racks such as premier hitch mounted tray rack, and high capacity locking premier model for electric bikes.
• Alpaca Carriers Inc: The company offers bike car rack products such as alpaca 1500 2Tadpole2 trike carrier.
• For details on companies and their offerings – Buy report!

By Geography, the market is classified as North America, Europe, APAC, South America, and Middle East and Africa. North America is estimated to contribute 36% to the growth of the global market during the forecast period. The demand for bike car racks in North America is anticipated to slow down owing to slow economic growth. Hence, consumers are able to reduce their discretionary spending on automobile accessories. However, several initiatives in the sector provide a favorable platform for the main leading company to expand product awareness and sales. The US and Canada are the leading markets in the region. However, due to severe weather conditions, the number of skiing visitors is expected to decline during the forecast period.

Download sample report to get more insights on the market share of various regions and contribution of the segments.

• Impactful driver- Increasing demand for adventure tourism
• Key Trend - Growing demand for recreational activities
• Major Challenges - The reduced fuel efficiency of vehicles

 Market Segmentation

• By Distribution Channel, the market is classified into offline and online. The market share growth by the offline segment will be significant during the forecast period. The offline segment in the market includes specialty stores, hypermarkets supermarkets, and other retail outlets. There are several factors such as discounts and a better shopping experience, that support the purchase of bike car racks from an offline channel. 

Technavio Research experts has provided more insights on the market share of segments - View Sample Report

Related Reports:

The automotive bicycle rack market is estimated to grow at a CAGR of 3.24% between 2022 and 2027. The size of the market is forecast to increase by USD 457.24 million. 

The Car Rack Market size is estimated to grow at a CAGR of 6.72% between 2022 and 2027. The size of the market is forecast to increase by USD 1,744.71 million.

TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Distribution Channel

7 Market Segmentation by Product 

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio