The automotive roof racks market is projected to grow rapidly at a CAGR of 6.69% throughout the forecast period 2017 to 2023. The increase in production of vehicles as well as growing investment in the tourism industry are the key driving factors for the global automotive roof racks market and are estimated to boost the growth. Analysts studying the automotive roof racks market have also shared growth projections in the automotive roof racks market research report and have suggested automotive roof racks market-based companies to develop growth strategies. Fluctuating prices of materials used and extreme weather conditions are the challenges that companies across the automotive roof racks market could face. The details covered in the automotive roof racks market report cover all the aspects of the industry.
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Market Segmentation
The global automotive roof racks market has been segmented based on application, material, and type. On the basis of application, the market for automotive roof racks is segmented based on commercial vehicles and passenger cars. Additionally, the market on the basis of material, is segmented into composite plastic, aluminum alloy, and others. The global market for automotive roof racks is also covered based on type segment which is further split into gutter, raised rail, roof mount, and others.
Factors like the rise in the use of roof racks in cars and rising sales of vehicle propel the automotive roof racks market growth. The automotive roof racks market performance has also been studied. The automotive roof racks market report provides analysis of past and current trends. In addition to this, the automotive roof racks market report offers detailed analysis of application, material, and type segments. The market segmental analysis provided in the automotive roof racks market research report offers crucial details about the automotive roof racks market based on the data and forecasts till 2023.
Regional Overview
The automotive roof racks market report covers companies functional in the automotive roof racks market spread across regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The regional analysis of the automotive roof racks market can be found in the market research report. The North American automotive roof racks market has several key players functioning in the United States, Canada, and Mexico. Europe has companies in the automotive roof racks market across Germany, France, Spain, Italy, and the United Kingdom. The automotive roof racks market of the Middle East, Africa, and other regions has also been studied by analysts. A detailed analysis of the automotive roof racks market across India, China, and Japan in the Asia-Pacific region is also available for further study.
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Competitive Landscape
The automotive roof racks market is corroborated by increase in disposable income. The population growth as well as increasing demand of automotive roof racks market based solutions also accelerate the market growth. However, the automotive roof racks market can be affected due to low-budget spacious vehicles as well as lack of demand in some countries. The automotive roof racks market research report covers all such factors assisting companies in the automotive roof racks market to improve their plans and portfolio. The automotive roof racks market research report also provides company profiles of major businesses. The automotive roof racks market report highlights key information about SMEs and large enterprises operating across Europe, Asia-Pacific, North America, and the rest of the world regional automotive roof racks markets. The details available in the automotive roof racks market report cover company strategies, revenue, company size, and mergers and acquisitions in the automotive roof racks market. New entrants as well as established organizations can use the data from the automotive roof racks market report to further plan their strategies.
Key Players
· VDL Hapro bv (Netherlands)
· BOSAL (Belgium)
· MINTH Group Limited (China)
· Magna International Inc.(Ontario)
· Yakima Products Inc. (U.S.)
· Thule Group (Sweden)
· Atera Gmbh (Germany)
· JAC Products (U.S.)
· Cruzber S.A (Spain)
· Rhino-Rack (U.S.)
Industry News
LEVC recently confirmed that it will provide tailor-made racking systems for its latest VN5 electric vans as the designated certified UK and Europe converter. The Bott Group is a global leader in producing and distributing vehicle machinery, workshop facilities and workplace services. The technical / service engineer framework is the first form of conversion produced for LEVC. This includes the modular bottom vario 3 rack system, which ensures that the system is 15 percent lighter than previous generation devices. The super light system is constructed from aluminum and plastic.
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