Growing focus of manufacturers on enhancing passenger comfort and high sales of passenger cars are driving the demand for Australia Car Rack Market in the forecast period, 2023-2027.
According to TechSci Research report, “Car Rack Market – Australia Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the Australia car rack market is anticipated to grow at a rate of steady CAGR for the forecast period, 2023-2027. The rise in adoption of the compact vehicle in the travel & tourism industry, increasing expenditure capacity of consumers, and advent of lightweight materials for car racks are the key factors driving the demand for Australian car rack market growth for the next five years.
Car racks are attached to the roof of the car to carry bicycles, luggage, and other carriers. Component of car rack includes crossbars, towers, fitting pieces, and gear mounts. Car racks are available in different sizes and materials based on the type of car, usage, and luggage weight. The launch of high-performing cars for off-road activities and more compact SUVs in the market are accelerating the demand for car racks, significantly improving the implementation of car racks.
Car racks are advantageous during traveling as they can carry bulky items without reducing the interior space for passengers. They are in high demand among consumers while shifting to other cities for jobs, studies, or other work. They easily carry the luggage items without affecting the driving experience. Also, the growing popularity of road trips and sports activities during holidays is driving the demand for car racks.
However, buying car racks’ quality and pricing issues may restrain the market growth in the forecast period.
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The Australia car rack market is segmented into vehicle type, type, material, company, and regional distribution.
Based on vehicle type, the market is divided into the hatchback, sedan, and SUV/MPV. SUV/MPV vehicles are in high demand and are expected to witness substantial growth opportunities in the forecast period. SUVs have a smoother driving experience and are highly preferred among people who like to travel off-road or adventure activities. They have a higher ride height which is beneficial for drivers to travel in the city and out of town. Longer suspension in SUVs softens the bumps and protects the body from getting hurt while keeping the driver comfortable. The high sales of SUVs are expected to boost the higher installation of car racks in SUVs, bolstering the market growth.
Based on type, the market is divided into roof rack, roof box, bike car rack, ski rack, and watersport carrier. The roof rack holds the largest market and is expected to maintain its dominance throughout the forecast period. Lack of space in compact vehicles can be taken care of by installing a roof rack as it improves the storage capacity and legroom space for passengers. They can enhance vehicles’ appearance and prevent interior damage of vehicles.
Based on material, the market is divided into the aluminum alloy, composite plastic, stainless steel, and others. Aluminum alloy material is leading the market and is expected to hold the highest market share for the next five years. Aluminum allows lightweight material, making it easy to maneuver and creating less drag while moving the automobile. They are considered highly durable and can carry more items than other car racks.
Major market players operating in the Australia car rack market are :
- ACPS Automotive GmbH
- Allen Sports USA
- Roof Carrier Systems
- Roof Racks Galore (RRGQ) Pty Ltd
- Cequent Group (Rola)
- Thule Group
- Yakima Australia Pty Ltd.
- Clarus Corporation
- Mont Blanc Group AB
- Shingleback Off Road
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“Ongoing developments and the use of advanced materials to manufacture car racks, such as the development of fiberglass car racks that offer high stability and durability, are expected to contribute significantly to market growth. The introduction of affordable car racks, excellent resistance to damage, improved performance for long distances, and aesthetically pleasing car racks are attracting the youth population. The rise in the number of market players and availability of innovative car racks are expected to propel the Australian car rack market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Car Rack Market – Australia Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Vehicle Type (Hatchback, Sedan, SUV/MPV), By Type (Roof Rack, Roof Box, Bike Car Rack, Ski Rack, Watersport Carrier), By Material (Aluminum Alloy, Composite Plastic, Stainless Steel, Others), and By Region”, has evaluated the future growth potential of Australia car rack market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Australia car rack market.
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