Global Automotive Roof Racks Market by Different Material Types (Roof Mount, Raised Rail, Gutter), by Vehicle Type (Passenger Cars, Commercial Cars), by Sales Channel (OEM, Aftermarket), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

Increasing investments by prominent industry players towards various R&D activities aimed at improving the durability of these products, as well as in reducing the overall weight of roof racks are factors that are anticipated to create lucrative growth opportunities for this market in the foreseeable future.

Market.US announces the publication of its most recently generated research report titled, “Global Automotive Roof Racks Market by Product Types by Different Material Types (Roof Mount (Aluminum Alloy, Composite Plastic, Other Material Types), Raised Rail (Aluminum Alloy, Composite Plastic, Other Material Types), Gutter (Aluminum Alloy, Composite Plastic, Other Material Types), Other Product Types), by Vehicle Type (Passenger Cars, Commercial Cars), by Sales Channel (OEM, Aftermarket), and by Region – Global Forecast to 2031”, which offers a holistic view of the global automotive roof racks market through systematic segmentation that covers every aspect of the target market.

Global automotive roof racks market is projected to be US$ 3,209.7 Mn in 2021 to reach US$ 6,219.6 Mn by 2031 at a CAGR of 7.0%.

A rack is a form of storage equipment that is used to increase the already available storage space of a vehicle. Cars usually have dedicated areas to store luggage or other equipments, however, most two wheelers don’t.

Individuals generally mount a storage rack on either the side or the back of a bike, and with respect to cars & other vehicles, racks are generally installed on the roof. This additional luggage space has been proven to be beneficial to avid travelers, various travel & tourism companies, or even for those individuals that tend to travel for longer periods of time.

Global Automotive Roof Racks Market Revenue (US$ Mn), 2021–2031

A roof rack creates additional storage space that is generally mounted on the top of a vehicle, and has been found to be immensely beneficial for travelers and tourists. This is a major factor that is anticipated to fuel the revenue growth trajectory of this given market in the foreseeable future. In addition, maintenance costs associated with automotive roof racks are very minimal, and they even possess low to no operational costs. This is another beneficial feature and is also expected to further increase the demand for products from the global automotive roof racks market.

However, additional weight is added to a vehicle that has a roof rack installed on it. Moreover, these devices hinder the fuel efficiency as well as air resistance levels of a vehicle. This is a major factor that generally deters individuals from installing equipment such as this, thereby potentially reducing the demand for this given product in the process.

The COVID-19 pandemic has resulted in the slowdown of critical trade activities across several countries. The possibility of a looming economic recession has also adversely impacted the manufacturing sector, as major economies now still enforce precautionary lockdowns, as well as other restrictions. This has resulted in the unavailability of necessary raw materials, thereby halting of production activities due to fear of further contagion in the process.

Additionally, there has been a continual fluctuation in raw material pricing due to various disruptions across concerned supply chain activities. This is a major factor that is anticipated to have a negative influence on the overall demand and profit margin projections of this global market. However, this sector is expected to return to a state of stability, once the threat of contagion subsides.

Global Automotive Roof Racks Market Attractiveness Analysis by Product Type, 2015–2031

Segmentation of the global automotive roof racks market is achieved under the following – product types by different material types, vehicle type, sales channel & region. On the basis of product types by different material types, this market is further sub-categorized into roof mounts, raised rails, gutter, and other product types. The product type segment is further divided into material types, such as aluminum alloy, steel, and other material types.

Among all the product types by different material types segments, the raised rail sub-segment is expected to register the highest CAGR of 7.8%, followed by the roof mount sub-segment. In terms of vehicle type, this market is sub-segmented into passenger cars and commercial cars. Amongst these vehicle type sub-segments, the passenger cars sub-segment is anticipated to account for a majority revenue share (69.3%) of the automotive roof racks market by the end of 2021.

The sales channel segment is further sub-segmented into – OEM & aftermarket. Of which, the aftermarket sub-segment is expected to account for a majority revenue share (73.5%) of the automotive roof racks market by the end of 2021. With respect to segmentation by region, the automotive roof racks market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The APAC market is expected to account for the majority revenue share of the global automotive roof racks market, followed by market in North America.

The research report on the global automotive roof racks market includes profiles of some of the major companies such as

• Magna International Inc.
• VDL Groep BV
• Minth Group Ltd.
• Тhulе Grоuр AB
• ЈАС Рrоduсtѕ Inc.
• Rhino Rack Australia Pty Limited
• Yakima Inc.
• Сruzbеr SA
• Atera GmbH
• Perrycraft Inc.
• NEUMANN
• spol. s r.o.
• others

Global Automotive Roof Racks Market Segmentation Based on Product Types by Different Material Types, Vehicle Type, Sales Channel, and Region

Based on Product Types by Different Material Types:

• Roof Mount
  • Aluminum Alloy
  • Composite Plastic
  • Other Material Types
• Raised Rail
  • Aluminum Alloy
  • Composite Plastic
  • Other Material Types
• Gutter
  • Aluminum Alloy
  • Composite Plastic
  • Other Material Types
• Other Product Types

Based on Vehicle Type:

• Passenger Cars
• Commercial Cars

Based on Sales Channel:

• OEM
• Aftermarket

Based on Regions:

• North America
• Europe
• Asia Pacific
• South America
• The Middle East & Africa

For the Automotive Roof Racks Market research study, the following years have been considered to estimate the market size: