Throughout the projected period, the rise in popularity of leisure activities and tourism is likely to drive development in the worldwide car rack market. Additionally, low operating and maintenance costs are expected to drive development in the global vehicle rack market throughout the forecast period. Throughout the projected period, the global car rack market is likely to face difficulties and limits. Issues such as these are likely to stymie the market. Also, rising vehicle weight and decreased fuel economy are expected to hinder growth in the worldwide car rack market throughout the forecast period. The overall weight of cars increases as a result of the use of large roof carriers, and the use of heavy roof carriers increases air resistance of the vehicles when driving. These variables increase the stress on the car engine, causing it to consume more gasoline. As a result, these issues limit the use of vehicle racks, stifling market growth.
According to Coherent Market Insights, the Global Car Rack Market is estimated to account for US$ 1,290.8 Mn in terms of value by the end of 2022.
Leading Companies in the Car Rack Industry:
1. Saris
Founded in 1973 and based in Madison, Wisconsin, Saris proudly dreams, designs and builds car racks and indoor bike trainers, as well as public bike systems and infrastructure. hrough their products, Saris propels all types of bicyclists forward be it in pursuit of personal enjoyment or peak performance. Through their advocacy, Saris promotes healthier, happier, bike-smart communities both locally and nationally.
2. Thule Group
Thule Group AB (publ) operates as a sports and outdoor company in Sweden and internationally. It offers roof racks, roof boxes, and carriers for transporting cycling, water, and winter sports equipment; rooftop tents mounted on a car; awnings, bike carriers, and tents for RVs and caravans; bike trailers, child bike seats, and strollers; luggage, backpacks, and laptop and sport bags; and hiking backpacks, camera bags, and cases for consumer electronics. The company provides its products primarily under the Thule and Case Logic brands. Thule Group AB (publ) was founded in 1942 and is headquartered in Malmö, Sweden. On December 2018, Thule Group has acquired Tepui Outdoors, Inc., a leader in roof top tents in North America. The acquisition will further enhance Thule Group’s expanding portfolio of products focused on an active lifestyle. In November 2021, Thule Group opened a second North American brand store in Canada that will provide local customers in the country a first-of-its-kind shopping experience as the company will showcase all the product categories in single space.
3. Car Mate Mfg. Co. Ltd.
Car Mate Mfg. Co., Ltd. primarily manufactures car accessories. It offers car supplies; car wash and care poducts; deodorants; fragrances; in-vehicle carrier; light lamps; baby child; engine starters; cameras; tire chain; rod holders; service and repair parts; remote control engine starter; car security; household goods; and GPS watching services, as well as snowboards;. The company also provides outdoor, leisure, and sporting goods. Car Mate Mfg. Co., Ltd. was founded in 1966 and is headquartered in Tokyo, Japan.
4. Yakima Products Inc.
Yakima Products is a sporting goods company offering roof racks, bike racks, and hitch racks. The company is acquired by Arcapita Ventures.
The company is headquartered in Lake Oswego, Oregon, United States, founded in 1979. On December 5, 2019 Yakima announced that it has completed an asset acquisition of Road Shower, the leading on-vehicle outdoor recreation water transport system. In December 2019, Yakima Products Inc. announced the acquisition of Road Shower, a solar powered water transport system for an undisclosed transaction.
5. Kuat Car Racks
Kuat Innovations manufactures engineered hitch racks, roof racks and accessories for assisting cyclists. The company is headquartered in Springfield, Missouri, United States, founded in 2008.
6. Allen Sports
Allen Sports USA is a company that designs and manufactures affordable and easy to use bikes. The company is headquartered in Portsmouth, New Hampshire, United States, founded in 1967.
7. Rhino Rack USA LLC
Rhino-Rack creates world-ready outdoor gear, born and proven in Australia. The company was founded in 1992, headquartered in Australia. On July 01, 2021 Clarus Corporation a global company focused on the outdoor and consumer enthusiast markets, has completed the acquisition of Australia-based Rhino-Rack Pty Ltd
8. ACPS Automotive
ACPS Automotive is expanding into Asia. The market and technology leader in towbars for cars, SUVs and vans opened a sales and development office in the Pudong district of Shanghai, China, in February. It was established in 1955 near Stuttgart and is known under the ORIS brand. . In July 2021, ACPS Automotive received the GM Supplier Quality Excellence Award 2020 for its Queretaro development and production site in Mexico.
9. Cruzber SA
Cruzber is a transportation equipment manufacturing firm of roof racks and bars for passenger cars, off-road vehicles, and commercial vans. The company is headquartered in Rute, Andalucia, Spain, founded in 1963. In November 2021, Cruzber SA announced the launch of novel magnetic ski rack CRUZ Ski Roof, a universal magnetic ski rack capable of carrying up to tow snowboards or three pairs of skis.
*Definition- A car rack is formed of bars that are fastened to the roof of a vehicle and is used to transport bulky objects such as bicycles, luggage, kayaks, canoes, skis, or other containers and carriers. These car racks allow users to transport goods on the roof of their vehicle without compromising inside room for occupants.
