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Automotive bicycle rack market 2023-2027: Growing demand for bicycle racks from automotive rental firms to be a key pattern

NEW YORK, Jan 24, 2023 /PRNewswire/ — In line with Technavio, the international automotive bicycle rack market measurement is estimated to develop by US$457.24 million from 2022 to 2027. The market is estimated to develop at a CAGR of three.24% throughout the forecast interval. North America will account for 41% of the market’s development throughout the forecast interval. Growing demand for bicycle racks from automotive rental firms is one other issue supporting the automotive bicycle rack market development within the forecast interval. The rise of the ridesharing idea within the transportation sector has benefited quite a few vehicle rental companies all around the globe. With the intention to enhance market share and win over prospects, these companies intention to offer value-added companies to the purchasers. With the rising recognition of journey tourism and outside leisure actions, automotive rental firms are additionally including bicycle racks to their automobiles. Moreover, the growing pattern of self-guided excursions and the growing recognition of foldable bicycles will drive market development throughout the forecast interval. Obtain a Pattern Report

Technavio has introduced its newest market analysis report titled International Automotive Bicycle Rack Market 2023-2027

International automotive bicycle rack market – 5 forces
The worldwide automotive bicycle rack market is fragmented, and the 5 forces evaluation covers–

  • Bargaining Energy of Consumers

  • The specter of New Entrants

  • Risk of Rivalry

  • Bargaining Energy of Suppliers

  • Risk of Substitutes

  • Interpretation of porter’s 5 fashions helps to strategize the enterprise, for total particulars – purchase the report!

International automotive bicycle rack market – Buyer panorama

The report contains the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption charges in numerous areas based mostly on penetration. Moreover, the report additionally contains key buy standards and drivers of worth sensitivity to assist firms consider and develop their development methods.

International automotive bicycle rack market – Segmentation evaluation

Section overview
Technavio has segmented the market based mostly on the product (hitch-mounted rack, roof-mounted rack, and trunk-mounted rack), software (family, industrial use, and public companies), and geography (North America, EuropeAPAC, South Americaand Center East and Africa).

  • The market share development of the hitch-mounted rack phase will likely be larger than the opposite segments throughout the forecast interval. The benefits of hitch-mounted racks, the supply of all kinds of fashions with low-cost choices, and the existence of a number of worldwide and native distributors are anticipated to drive the market’s development throughout the forecast interval.

Geography Overview
By geography, the worldwide automotive bicycle rack market is segmented into North America, EuropeAPAC, South Americaand the Center East and Africa. The report supplies actionable insights and estimates the contribution of all areas to the expansion of the worldwide automotive bicycle rack market.

  • North America will account for 41% of the market’s development throughout the forecast interval. In North America, the marketplace for automotive bicycle racks is anticipated to develop reasonably because of the stagnating development of the common bicycle market. Nevertheless, there’s a rising pattern within the area for e-bike demand. Bicycle demand is anticipated to be pushed by the rising recognition of an energetic way of life and the quantity of sports activities fanatics within the space. This, in flip, will propel the expansion of the automotive bicycle rack market in North America throughout the forecast interval.

Obtain a Pattern Report

International Automotive bicycle rack marketMarket dynamics

Key issue driving market development

  • One of many key components driving the automotive bicycle rack market is the growing demand for journey tourism.

  • Journey tourism contains mountaineering expeditions, mountain biking, trekking, bungee leaping, rafting, and mountaineering. These actions assist in bettering psychological and bodily wellness.

  • Moreover, modifications in way of life, demographics, and an growing desire for expertise journey are liable for the sturdy demand for journey tourism.

  • Moreover, quite a few regional governments are repeatedly funding the event of biking infrastructure. The necessity for one of these journey tourism will drive the adoption of automotive bicycle racks.

Main challenges hindering the market development

  • The decreased gas effectivity of automobiles will likely be a significant problem for the automotive bicycle rack market throughout the forecast interval

  • Excessive engine energy and automobile weight reduces the gas consumption of vehicle. Autos change into considerably heavier when bicycle racks are put in, which lowers their gas effectivity.

  • The bicycle rack mounted on the roof might enhance aerodynamic drag, decreasing gas economic system much more. Producers of bicycle racks are concentrating on producing light-weight bicycle racks as a way to enhance gas effectivity.

Driver, & Challenges are the issue of market dynamics that states about penalties & sustainability of the companies, discover some insights from a pattern report!

What are the important thing knowledge coated on this automotive bicycle rack market report?

  • CAGR of the market throughout the forecast interval

  • Detailed info on components that can drive the expansion of the automotive bicycle rack market between 2023 and 2027

  • Exact estimate of the dimensions of the automotive bicycle rack market and its contribution to the mum or dad market

  • Correct predictions about upcoming developments and modifications in client habits

  • Development of the automotive bicycle rack market throughout North America, EuropeAPAC, South Americaand the Center East and Africa

  • A radical evaluation of the market’s aggressive panorama and detailed details about distributors

  • Complete evaluation of things that can problem the expansion of automotive bicycle rack market distributors

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Automotive Bicycle Rack Market Scope

Report Protection

Particulars

web page quantity

162

base 12 months

2022

Historic interval

2017-2021

Forecast interval

2023-2027

Development momentum & CAGR

Speed up at a CAGR of three.24%

Market development 2023-2027

US$457.24 million

Market construction

fragmented

YoY development 2022-2023 (%)

2.64

regional evaluation

North America, Europe, APAC, South America, and Center East and Africa

Performing market contribution

North America at 41%

Key international locations

US, Canada, China, Germany, and France

Aggressive panorama

Main Distributors, Market Positioning of Distributors, Aggressive Methods, and Trade Dangers

Key firms profiled

Allen Sports activities USA, Atera GmbH, AURILIS GROUP, CURT Manufacturing LLC, Fabbri Portatutto Srl, Kuat Improvements, Maxx Group LLC, Mont Blanc Group AB, North Shore Racks Inc., Peruzzo srl, Pipeline Racks, Rhino Rack Pty Ltd., RockyMounts Inc ., Saris Gear LLC, SeaSucker LLC, Swagman, Thule Group AB, Tyger Auto Inc., Uebler GmbH, and Yakima Merchandise Inc.

Market dynamics

Mum or dad Market Evaluation; Market development inducers and obstacles; Quick-growing and slow-growing phase evaluation for the forecast interval

Customization purview

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Desk of Contents

1 Govt Abstract

2 Market Panorama

3Market Sizing

4 Historic Market Measurement

5 5 Forces Evaluation

6 Market Segmentation by Product

7 Market Segmentation by Software

8Customer Panorama

9 Geographic Panorama

10 Drivers, Challenges, and Traits

11 Vendor Panorama

12 Vendor Evaluation

13 Appendix

about us
Technavio is a number one international expertise analysis and advisory firm. Their analysis and evaluation focuses on rising market developments and supplies actionable insights to assist companies establish market alternatives and develop efficient methods to optimize their market positions. With over 500 specialised analysts, Technavio’s report library consists of greater than 17,000 reviews and counting, protecting 800 applied sciences, spanning throughout 50 international locations. Their shopper base consists of enterprises of all sizes, together with greater than 100 Fortune 500 firms. This rising shopper base depends on Technavio’s complete protection, intensive analysis, and actionable market insights to establish alternatives in current and potential markets and assess their aggressive positions inside altering market situations.

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Global Automotive Bicycle Rack Market 2023-2027

International Automotive Bicycle Rack Market 2023-2027

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SOURCE Technavio

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