COVID-19 Impact Analysis on Car Rack Market during Q1 of 2021| Expected to reach USD 1.45 Billion by 2025|Technavio
NEW YORK, April 16, 2021 --
Technavio has monitored the car rack market in its latest market research report. The market is poised to grow by USD 1.45 billion during 2021-2025, progressing at a CAGR of over 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the car rack market.
Frequently Asked Questions:
- Based on segmentation by product, which is the leading segment in the market?
Based on the product, the market saw maximum growth in the bike car rack segment in 2020.
- What are the major trends in the market?
Increasing demand for adventure tourism is the major trend in the market.
- At what rate is the market projected to grow?
The market is projected to grow at a CAGR of over 6% during the forecast period.
- Who are the top players in the market?
ACPS Automotive GmbH, Allen Sports USA, Atera GmbH, CRUZBER SA, KAMEI GmbH and Co. KG, Kuat Racks, Mont Blanc Group AB, Rhino Rack Pty Ltd., Thule Group AB, and Yakima Products Inc. are the top players in the market.
- What are the key market drivers and challenges?
The market is driven by the increasing demand for smaller cars. However, difficulties in installation might challenge growth.
- How big is the North American market?
North America dominated the market with a 36% share in 2020.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ACPS Automotive GmbH, Allen Sports USA, Atera GmbH, CRUZBER SA, KAMEI GmbH and Co. KG, Kuat Racks, Mont Blanc Group AB, Rhino Rack Pty Ltd., Thule Group AB, and Yakima Products Inc. are some of the major market participants. Although the increasing demand for smaller cars will offer immense growth opportunities, difficulties in the installation are likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this car rack market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Car Rack Market 2021-2025: Segmentation
Car Rack Market is segmented as below:
- Product
- Bike Car Rack
- Roof Rack
- Ski Rack
- Roof Box
- Water Sports Carrier
- Geographic
- North America
- Europe
- APAC
- MEA
- South America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41443
Car Rack Market 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The car rack market report covers the following areas:
- Car Rack Market Size
- Car Rack Market Trends
- Car Rack Market Industry Analysis
This study identifies the increasing demand for adventure tourism as one of the prime reasons driving the car rack market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
Car Rack Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist car rack market growth during the next five years
- Estimation of the car rack market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the car rack market across North America, Europe, APAC, MEA, and South America
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of car rack market vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Bike car rack - Market size and forecast 2020-2025
- Roof rack - Market size and forecast 2020-2025
- Ski rack - Market size and forecast 2020-2025
- Roof box - Market size and forecast 2020-2025
- Water sports carrier - Market size and forecast 2020-2025
- Market opportunity by Product
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- APAC - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- ACPS Automotive GmbH
- Allen Sports USA
- Atera GmbH
- CRUZBER SA
- KAMEI GmbH and Co. KG
- Kuat Racks
- Mont Blanc Group AB
- Rhino Rack Pty Ltd.
- Thule Group AB
- Yakima Products Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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Report: https://www.technavio.com/report/car-rack-market-industry-analysis
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