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Automotive Bicycle Rack Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: May 2021
  • Pages: 120
  • SKU: IRTNTR43886
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The automotive bicycle rack market share is expected to increase by USD 554.01 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4.13%.

This automotive bicycle rack market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive bicycle rack market segmentations by product (hitch-mounted rack, roof-mounted rack, and trunk-mounted rack) and geography (North America, Europe, APAC, South America, and MEA). The automotive bicycle rack market report also offers information on several market vendors, including Allen Sports USA, Atera GmbH, Car Mate Mfg. Co. Ltd., Kuat Innovations, Mont Blanc Group AB, Rhino Rack Pty Ltd., Thule Group AB, Tyger Auto Inc., VDL Groep BV, and Yakima Products Inc. among others.

What will the Automotive Bicycle Rack Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Automotive Bicycle Rack Market Size for the Forecast Period and Other Important Statistics

 

Automotive Bicycle Rack Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing demand for adventure tourism is notably driving the automotive bicycle rack market growth, although factors such as may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive bicycle rack market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Bicycle Rack Market Driver

One of the key factors driving the automotive bicycle rack market is the increasing demand for adventure tourism. Adventure tourism involves mountaineering expeditions, mountain cycling, trekking, bungee jumping, rafting, and rock climbing. These activities help rejuvenate mental health and stamina. Furthermore, adventure tourism are gaining high popularity among the population in North America and Europe. Moreover, high demand for adventure tourism is attributed to the changes in lifestyle, demographics, and increasing preference for experiential traveling. In addition, increased participation in events such as Ride the Rockies and Tour de France has increased the demand for cycling tourism among individuals. According to the European Cyclists Federation, cycling brings in an average of over $44.71 billion annually to the continent. During the forecast period, such activities are likely to grow in other continents and many parts of the US. Furthermore, bourgeoning investments by regional governments in many countries are continuously investing in the development of cycling infrastructure. The increasing demand for this kind of adventure tourism will fuel the adoption of automotive bicycle racks. With the help of these racks, consumers safely carry bicycles to such adventure tourism destinations.

Key Automotive Bicycle Rack Market Trend

Increasing demand for bicycle racks from car rental companies is another factor supporting the automotive bicycle rack market growth in the forecast period. The concept of ridesharing is gaining popularity, and this shift in the transportation industry has benefitted many car rental companies across the globe. These companies aim to provide value-added services to their customers, which help them gain market share and customer loyalty. With the growing popularity of adventure tourism and outdoor recreational activities, car rental service providers are installing bicycle racks on their vehicles. For instance, Uber, one of the biggest car-sharing service providers, has also introduced vehicles with bicycle racks called UberPedal in many parts of the US and other global countries such as Singapore and Australia. This new system allows Uber users to request a vehicle with car racks, charges starting from $10. These kinds of services help cyclists who face problems such as unfavorable weather conditions or flat tires. The company has established a partnership with SARIS, a US-based bicycle rack manufacturer, to procure bicycle racks that could fit up to two bicycles in a vehicle.

Key Automotive Bicycle Rack Market Challenge

Complex installation of bicycle racks will be a major challenge for the automotive bicycle rack market during the forecast period. Bicycle racks can be installed or removed from vehicles on the basis of consumer needs or preferences. Removal and fitting of bicycle racks can be tedious. The removal often includes a series of technical steps that need to be followed rigorously. Sometimes during the process of installation or removal of the rack, users might damage the frame or paint job of their vehicle. Nowadays, most manufacturers are focusing on easing the installation and setup of bicycle racks while maintaining reliability and efficiency. These kinds of installation issues are hindering market growth globally. Furthermore, hitch mounted racks may require drilling holes in the chassis of the vehicle or cut in the rear fascia. Trunk mounted racks and spoilers might interfere with the installation of the bicycle rack. In addition, the vehicle's boot cannot be opened along with the installation of trunk-mounted racks. Moreover, installation of roof-mounted rack increases wind resistance of vehicles, and these vehicles cannot be parked in garages that have low clearance. Therefore, the major installation issues or disadvantages of automotive bicycle racks that hinder the adoption of the automotive bicycle racks.

This automotive bicycle rack market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global automotive bicycle rack market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive bicycle rack market during the forecast period.

Who are the Major Automotive Bicycle Rack Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Allen Sports USA
  • Atera GmbH
  • Car Mate Mfg. Co. Ltd.
  • Kuat Innovations
  • Mont Blanc Group AB
  • Rhino Rack Pty Ltd.
  • Thule Group AB
  • Tyger Auto Inc.
  • VDL Groep BV
  • Yakima Products Inc.

 

This statistical study of the automotive bicycle rack market encompasses successful business strategies deployed by the key vendors. The automotive bicycle rack market is fragmented and the vendors are deploying growth strategies such as product launches and business expansions to compete in the market.

Product Insights and News

  • Allen Sports USA - The company offers a wide range of bicycle racks, including deluxe trunk bike rack, premier trunk rack, deluxe hitch bike rack, deluxe spare tire bike rack, and others.
  • VDL Groep BV - The company offers Hapro Atlas and Hapro Strada bicycle racks, which can carry 2 or 3 bicycles; and Hapro Giro bicycle racks, which can carry 1 bicycle of up to 17 kg.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive bicycle rack market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automotive Bicycle Rack Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the automotive bicycle rack market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global automotive components and accessories market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers providers to ensure a sustainable market presence.

 

Which are the Key Regions for Automotive Bicycle Rack Market?

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41% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for automotive bicycle racks in North America. Market growth in this region will be faster than the growth of the market in Europe, MEA, and South America.

The stagnant growth of the standard bicycle market will facilitate the automotive bicycle rack market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 in 2020 severely impacted the North American market of automotive bicycle racks. The exponential rise in the number of COVID-19 cases compelled the government to impose stay-at-home orders followed by restricted travel norms, which subsequently led to a decline in demand for automotive bicycle racks in North America. However, the lifting of lockdowns from Q4 of 2020 led to the regional market's growth during the forecast period.

What are the Revenue-generating Product Segments in the Automotive Bicycle Rack Market?

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The automotive bicycle rack market share growth by the product segments. The automotive bicycle rack market share growth by the hitch-mounted rack segment will be significant during the forecast period. Hitch mounted racks are the highest-selling type of automotive bicycle racks because of the benefits such as easy to install and detach when not in use and the availability of a wide variety of models with low-cost options. Moreover, some hitch-mounted racks also have foldable models that could fold flat to provide clearance for parking.

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive bicycle rack market size and actionable market insights on post COVID-19 impact on each segment.

 

Automotive Bicycle Rack Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 4.13%

Market growth 2021-2025

$ 554.01 million

Market structure

Fragmented

YoY growth (%)

3.29

Regional analysis

Europe, North America, APAC, South America, and MEA

Performing market contribution

North America at 41%

Key consumer countries

US, Germany, France, China, Canada, and Australia

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Allen Sports USA, Atera GmbH, Car Mate Mfg. Co. Ltd., Kuat Innovations, Mont Blanc Group AB, Rhino Rack Pty Ltd., Thule Group AB, Tyger Auto Inc., VDL Groep BV, and Yakima Products Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Automotive Bicycle Rack Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive automotive bicycle rack market growth during the next five years
  • Precise estimation of the automotive bicycle rack market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive bicycle rack industry across Europe, North America, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive bicycle rack market vendors

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Read More Read Less

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value Chain Analysis: Automotive components and accessories

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five Forces Summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 15: Product - Market share 2020-2025 (%)
    • 5.2 Comparison by Product
      • Exhibit 16: Comparison by Product
    • 5.3 Hitch-mounted rack - Market size and forecast 2020-2025
      • Exhibit 17: Hitch-mounted rack - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Hitch-mounted rack - Year-over-year growth 2020-2025 (%)
    • 5.4 Roof-mounted rack - Market size and forecast 2020-2025
      • Exhibit 19: Roof-mounted rack - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Roof-mounted rack - Year-over-year growth 2020-2025 (%)
    • 5.5 Trunk-mounted rack - Market size and forecast 2020-2025
      • Exhibit 21: Trunk-mounted rack - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Trunk-mounted rack - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by Product
      • Exhibit 23: Market opportunity by Product

    6 Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 25: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 26: Geographic comparison
    • 7.3 North America - Market size and forecast 2020-2025
      • Exhibit 27: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 28: North America - Year-over-year growth 2020-2025 (%)
    • 7.4 Europe - Market size and forecast 2020-2025
      • Exhibit 29: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
    • 7.5 APAC - Market size and forecast 2020-2025
      • Exhibit 31: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: APAC - Year-over-year growth 2020-2025 (%)
    • 7.6 South America - Market size and forecast 2020-2025
      • Exhibit 33: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: South America - Year-over-year growth 2020-2025 (%)
    • 7.7 MEA - Market size and forecast 2020-2025
      • Exhibit 35: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 36: MEA - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 37: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 38: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Landscape disruption
              • 9.3 Competitive Scenario

                10 Vendor Analysis

                • 10.1 Vendors covered
                  • 10.2 Market positioning of vendors
                    • 10.3 Allen Sports USA
                      • 10.4 Atera GmbH
                        • 10.5 Car Mate Mfg. Co. Ltd.
                          • 10.6 Kuat Innovations
                            • 10.7 Mont Blanc Group AB
                              • 10.8 Rhino Rack Pty Ltd.
                                • 10.9 Thule Group AB
                                  • 10.10 Tyger Auto Inc.
                                    • 10.11 VDL Groep BV
                                      • 10.12 Yakima Products Inc.

                                        11 Appendix

                                        • 11.1 Scope of the report
                                          • 11.2 Currency conversion rates for US$
                                            • 11.3 Research methodology
                                              • 11.4 List of abbreviations

                                                Research Framework

                                                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                                                TechnavioINFORMATION SOURCES

                                                Primary sources

                                                • Manufacturers and suppliers
                                                • Channel partners
                                                • Industry experts
                                                • Strategic decision makers

                                                Secondary sources

                                                • Industry journals and periodicals
                                                • Government data
                                                • Financial reports of key industry players
                                                • Historical data
                                                • Press releases
                                                Technavio

                                                TechnavioDATA ANALYSIS

                                                Data Synthesis

                                                • Collation of data
                                                • Estimation of key figures
                                                • Analysis of derived insights

                                                Data Validation

                                                • Triangulation with data models
                                                • Reference against proprietary databases
                                                • Corroboration with industry experts
                                                Technavio

                                                TechnavioREPORT WRITING

                                                Qualitative

                                                • Market drivers
                                                • Market challenges
                                                • Market trends
                                                • Five forces analysis

                                                Quantitative

                                                • Market size and forecast
                                                • Market segmentation
                                                • Geographical insights
                                                • Competitive landscape
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                                                The automotive bicycle rack market market growth will increase by $$ 554.01 mn during 2022-2025.
                                                The automotive bicycle rack market market is expected to grow at a CAGR of 4.13% during 2022-2025.
                                                Technavio has segmented the automotive bicycle rack market market by product (hitch-mounted rack, roof-mounted rack, and trunk-mounted rack) and geography (North America, Europe, APAC, South America, and MEA).
                                                Allen Sports USA, Atera GmbH, Car Mate Mfg. Co. Ltd., Kuat Innovations, Mont Blanc Group AB, Rhino Rack Pty Ltd., Thule Group AB, Tyger Auto Inc., VDL Groep BV, Yakima Products Inc. are a few of the key vendors in the automotive bicycle rack market market.
                                                North America will register the highest growth rate of 41% among the other regions. Therefore, the automotive bicycle rack market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
                                                • US
                                                • Germany
                                                • France
                                                • China
                                                • Canada
                                                • Australia
                                                The key factors driving the automotive bicycle rack market market growth are:
                                                • Increasing demand for adventure tourism
                                                The automotive bicycle rack market market vendors should focus on grabbing business opportunities from the hitch-mounted rack segment as it accounted for the largest market share in the base year.
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