NEW YORK, July 24, 2024 /PRNewswire/ -- The
global automotive bicycle rack market size is estimated to
grow by USD 457.24 million from
2023-2027, according to Technavio. The market is estimated to
grow at a CAGR of over 3.24% during the forecast period. Increasing
demand for adventure tourism is driving market growth, with a trend
towards increasing demand for bicycle racks from car rental
companies. However, decreased fuel efficiency of vehicles poses a
challenge. Key market players include Allen Sports USA, Atera
GmbH, AURILIS GROUP, CURT Manufacturing LLC, Fabbri Portatutto Srl,
Kuat Innovations, Maxx Group LLC, Mont Blanc Group AB, North Shore
Racks Inc., Peruzzo srl, Pipeline Racks, Rhino Rack Pty Ltd.,
RockyMounts Inc., Saris Equipment LLC, SeaSucker LLC, Swagman,
Thule Group AB, Tyger Auto Inc., Uebler GmbH, and Yakima Products
Inc..
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Forecast
period
|
2023-2027
|
Base Year
|
2022
|
Historic
Data
|
2017 - 2021
|
Segment
Covered
|
Product (Hitch mounted
rack, Roof mounted rack, and Trunk mounted rack), Application
(Household, Commercial use, and Public services), and Geography
(North America, Europe, APAC, South America, and Middle East and
Africa)
|
Region
Covered
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Key companies
profiled
|
Allen Sports USA, Atera
GmbH, AURILIS GROUP, CURT Manufacturing LLC, Fabbri Portatutto Srl,
Kuat Innovations, Maxx Group LLC, Mont Blanc Group AB, North Shore
Racks Inc., Peruzzo srl, Pipeline Racks, Rhino Rack Pty Ltd.,
RockyMounts Inc., Saris Equipment LLC, SeaSucker LLC, Swagman,
Thule Group AB, Tyger Auto Inc., Uebler GmbH, and Yakima Products
Inc.
|
Key Market Trends Fueling Growth
Car rental companies, such as Europcar Australia and USAVE New
Zealand Car Rentals, are responding to the growing trend of
ridesharing and adventure tourism by offering bicycle racks on
their vehicles. This value-added service caters to the increasing
demand from customers participating in cycling events or outdoor
recreational activities. For instance, Europcar Australia
collaborated with Thule to provide bicycle racks for their vehicles
in Sydney, while USAVE New Zealand
Car Rentals offers this feature across New Zealand. Uber, a prominent car-sharing
service, has also introduced UberPedal, which allows users to
request vehicles with bicycle racks for a fee. Uber's partnership
with SARIS ensures the availability of suitable racks for up to two
bicycles in a single vehicle. These initiatives cater to cyclists
facing challenges like unfavorable weather or flat tires, thereby
enhancing customer experience and loyalty.
The Automotive Bicycle Rack market is experiencing a surge in
demand due to the increasing number of health-conscious consumers
who prefer biking as a form of exercise and social distancing. With
gyms closing and public transport capacity limited, consumers are
turning to their vehicles to transport their bicycles. The market
includes three main types: Hitch Mounted Racks, Roof Mounted Racks,
and Trunk Mounted Racks. Premium range bicycles, adventure
bicycles, and electric bicycles are popular choices for outdoor
enthusiasts and adventure tourists. As fuel prices and pollution
concerns rise, electric vehicles and electric cycles are gaining
traction. Lightweight materials and aerodynamic shapes are trends
in rack design. Integrated locking systems ensure security. Hitch
receivers, roof space, and trunk space are key considerations for
consumers. Pickup carriers are also used for household, commercial,
and public service applications. Whether for urban commuting or
adventure tourism on mountain trails, automotive bicycle racks
offer a convenient and eco-friendly solution.
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Market Challenges
- The automotive bicycle rack market faces a challenge with the
impact on fuel efficiency. Adding a bicycle rack and a bicycle to a
vehicle increases its weight, leading to a decrease in miles per
gallon. A 100-pound weight addition can result in a 1% reduction,
while a rack and bike can cause up to a 9% decrease. Roof-mounted
racks further reduce fuel efficiency due to increased aerodynamic
drag. Manufacturers are addressing this issue by producing lighter
racks to mitigate this impact on fuel economy.
- The Automotive Bicycle Rack market faces several challenges in
the current business landscape. Adventure tourism industry growth
drives demand for racks to transport adventure bicycles, including
electric ones. Fuel prices and pollution concerns push consumers
towards electric vehicles and cycles. Short-distance usage favors
electric cycles and lightweight, aerodynamic racks for conventional
vehicles. Three main types of racks exist: Hitch Mounted Racks,
Roof Mounted Racks, and Trunk Mounted Racks. Outdoor enthusiasts,
cyclists, and commercial users seek reliable, secure solutions for
transporting bikes. Hitch receivers and roof space are essential
considerations. Urban commuters also use racks, especially for
e-bikes, which require less space. Challenges include integrating
locking systems and adapting to various bike designs, such as those
with telescoping arms or unique headtube and seatpost
configurations. E-bikes and electric vehicles may require
specialized racks, while conventional vehicles may need pickup
carriers. Public services, such as camping sites and cycling
events, also rely on racks for bike transportation. Overall, the
market must innovate to meet diverse user needs and address the
evolving landscape of the automotive and cycling industries.
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Segment Overview
This automotive bicycle rack market report extensively covers
market segmentation by
- Product
- 1.1 Hitch mounted rack
- 1.2 Roof mounted rack
- 1.3 Trunk mounted rack
- Application
- 2.1 Household
- 2.2 Commercial use
- 2.3 Public services
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Hitch mounted rack- The Automotive Bicycle Rack
market is growing steadily as more consumers opt for eco-friendly
transportation solutions. This market caters to various types of
racks, including roof-mounted, hitch-mounted, and trunk-mounted
racks. Manufacturers focus on producing durable, lightweight, and
easy-to-install products to meet customer demands. Key players in
this market include Thule, Yakima, and Saris. Collaborations and
product innovations are common strategies to gain a competitive
edge.
For more information on market segmentation with geographical
analysis including forecast (2023-2027) and historic data (2017 -
2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global Electric Vehicle (EV) Battery Market is poised for
significant growth, driven by rising EV adoption and advancements
in battery technology. Meanwhile, the global Car Rack Market is
expanding due to increasing outdoor activities and the need for
efficient cargo solutions. The global Car Wash Market is also
experiencing robust growth, fueled by heightened consumer demand
for vehicle maintenance and the proliferation of automated car wash
services. Together, these markets reflect the evolving automotive
landscape and the growing emphasis on sustainability and
convenience.
Research Analysis
The Automotive Bicycle Rack market caters to the growing demand
for transporting bicycles on vehicles. Bicycle carriers, also known
as bicycle racks, are essential accessories for outdoor enthusiasts
and cyclists who wish to carry their bikes along on trips. These
racks come in various types, including hitch mounted racks, roof
mounted racks, and trunk mounted racks. Hitch mounted racks attach
to the hitch receiver of a vehicle, while roof mounted racks
utilize the roof space. Trunk mounted racks are more suitable for
urban commuters and smaller vehicles. Bicycle racks are designed
using lightweight materials and aerodynamic shapes to minimize
damage to the bicycle and vehicle during transportation. Integrated
locking systems provide added security for premium range bicycles.
Roof mounted racks offer better fuel efficiency and are ideal for
adventure tourism, while hitch mounted racks are popular for
commercial use and public services. Pickup carriers are another
option for transporting multiple bicycles at once. Despite their
benefits, bicycle racks require careful installation and use to
prevent falling and potential damage to the vehicle or bicycle. The
bicycle market continues to grow, driving the demand for advanced
and versatile bicycle racks.
Market Research Overview
The Automotive Bicycle Rack market refers to the sale and
production of racks used to transport bicycles on vehicles. These
racks, also known as bicycle carriers, come in various types such
as roof mounted, hitch mounted, and trunk mounted racks. The
increasing popularity of bicycles, especially among
health-conscious consumers and adventure tourists, has led to a
growing demand for these racks. With the rise of premium range
bicycles, including adventure bicycles and electric bicycles,
consumers are looking for reliable and secure ways to transport
their bikes. Factors driving the market include the closure of gyms
and the need for social distancing, high fuel prices and concerns
over pollution, and the growing popularity of electric vehicles.
The market caters to both household and commercial use, including
public services. Lightweight materials and aerodynamic shapes are
key features in the design of these racks, ensuring minimal damage
to the bicycle and vehicle. Integrated locking systems provide
added security. Roof mounted racks utilize available roof space,
while hitch mounted racks attach to the hitch receiver. Trunk
mounted racks are a more budget-friendly option. Pickup carriers
are also available for larger vehicles. The market serves a diverse
range of consumers, from urban commuters to adventure tourism
industry professionals, and caters to various types of bicycles,
including e-bikes and conventional bicycles. The telescoping arm
design and compatibility with different headtube and seatpost sizes
add to the versatility of these racks.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Hitch Mounted Rack
- Roof Mounted Rack
- Trunk Mounted Rack
- Application
-
- Household
- Commercial Use
- Public Services
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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