LONDON–(Enterprise WIRE)–Feb 2, 2021–
The “Automotive Bicycle Rack Sector by Product or service and Geography – Forecast and Analysis 2020-2024” report has been additional to Technavio’s giving.
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Technavio has declared its most up-to-date sector exploration report titled World-wide Automotive Bicycle Rack Marketplace 2020-2024 (Graphic: Company Wire)
The automotive bicycle rack current market is poised to mature by USD 820.00 million through 2020-2024, progressing at a CAGR of about 5% during the forecast interval. Get Free of charge Sample Report in Minutes!
There is the increasing popularity of ride-sharing and motor vehicle-pooling services, which prospects to an enhance in profits for auto rental companies across the globe. Auto rental company suppliers are focusing on supplying worth-added expert services these kinds of as the provision of bicycle racks for cars and trucks to improve marketplace penetration and achieve customer desire, primarily from people today inclined to journey tourism. Several start out-ups have already began offering auto rental expert services with bicycles and will straight contribute to the automotive bicycle rack current market advancement.
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COVID-19 is envisioned to have a Unfavorable and Oblique influence on the Purchaser Discretionary marketplace. Even if the distribute of the virus is contained, we anticipate it to consider much more than two quarters (6 months) to get to a normal point out of financial action. In the short time period, the market need will clearly show Inferior progress.
38% of the market’s growth will originate from Europe during the forecast period. Germany is the important marketplace for automotive bicycle racks in Europe. Current market expansion in this area will be slower than the expansion of the market place in APAC.
Technavio implies 3 forecast situations (optimistic, possible, and pessimistic) taking into consideration the impression of COVID-19. Technavio’s in-depth exploration has direct and indirect COVID-19 impacted marketplace study studies.
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The automotive bicycle rack market place is segmented by products (hitch-mounted rack, roof-mounted rack, and trunk-mounted rack) and geography (North The us, Europe, APAC, South The usa, and MEA).
Hitch mounted racks are the best-promoting form of automotive bicycle racks due to the fact of the advantages this kind of as effortless to put in and detach when not in use and the availability of a broad variety of models with low-price possibilities. Additionally, some hitch mounted racks also have foldable designs that could fold flat to present clearance for parking. For that reason, influencing the advancement of the current market. Market place growth in this phase will be speedier than the growth of the marketplace in the roof-mounted and trunk-mounted segment.
Allen Sporting activities Usa, Atera GmbH, Automobile Mate Mfg. Co. Ltd., Kuat Innovations, Mont Blanc Group AB, Rhino Rack Pty Ltd., Thule Team AB, Tyger Vehicle Inc., VDL Groep BV, and Yakima Solutions Inc. are amongst the major organizations in the automotive bicycle rack industry.
The marketplace is fragmented. With the increasing demand for bicycle racks from car rental businesses, the levels of competition between the players will intensify.
Essential Industry Dynamics:
Market place Driver
- Increasing need for experience tourism
- Introduction of new products
- Enhanced basic safety of cars and bicycles
- Diminished gasoline efficiency of motor vehicles
- Complex set up of bicycle racks
- Concerns about esthetic attractiveness of autos
- Allen Sports activities Usa
- Atera GmbH
- Automobile Mate Mfg. Co. Ltd.
- Kuat Innovations
- Mont Blanc Group AB
- Rhino Rack Pty Ltd.
- Thule Group AB
- Tyger Automobile Inc.
- VDL Groep BV
- Yakima Products Inc.
Relevant Reviews on Customer Discretionary Consist of:
Bicycle Motors Market place by Sort and Geography – Forecast and Assessment 2020-2024: The bicycle motors current market measurement has the likely to mature by 7793.49 thousand models in the course of 2020-2024, and the market’s growth momentum will decelerate for the duration of the forecast period of time. To get substantial study insights: Simply click and Get No cost Sample Report in Minutes!
Bicycle Carbon Frames Industry by Application and Geography – Forecast and Investigation 2020-2024: The bicycle carbon frames market measurement has the potential to improve by 6.48 million units for the duration of 2020-2024, and the market’s growth momentum will accelerate at a CAGR of practically 16%. To get in depth analysis insights: Simply click and Get Free Sample Report in Minutes!
Important Topics Lined:
- Government Summary
- Industry Landscape
- Marketplace Sizing
- 5 Forces Analysis
- Market place Segmentation by Close-user
- Buyer landscape
- Geographic Landscape
- Seller Landscape
- Vendor Assessment
Technavio is a primary world-wide technologies investigate and advisory business. Their research and evaluation focuses on emerging market trends and provides actionable insights to assistance corporations discover sector opportunities and produce helpful methods to enhance their marketplace positions. With about 500 specialized analysts, Technavio’s report library is composed of more than 17,000 studies and counting, masking 800 technologies, spanning throughout 50 nations around the world. Their consumer foundation is composed of enterprises of all dimensions, together with much more than 100 Fortune 500 firms. This increasing consumer foundation relies on Technavio’s detailed coverage, comprehensive analysis, and actionable current market insights to recognize options in existing and prospective markets and evaluate their competitive positions in modifying industry scenarios.
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Sector Key word: Sports BIKING/Biking
Source: Technavio Exploration
Copyright Business enterprise Wire 2021.
PUB: 02/02/2021 08:27 AM/DISC: 02/02/2021 08:27 AM