Worldwide Automotive Bicycle Rack Current market 2020-2024 | Technavio
LONDON–(Organization WIRE)–The “Automotive Bicycle Rack Industry by Product or service and Geography – Forecast and Examination 2020-2024” report has been extra to Technavio’s featuring.
The automotive bicycle rack current market is poised to grow by USD 820.00 million during 2020-2024, progressing at a CAGR of about 5% through the forecast interval. Get Totally free Sample Report in Minutes!
There is the growing recognition of ride-sharing and car or truck-pooling services, which leads to an raise in income for automobile rental corporations across the world. Vehicle rental assistance companies are focusing on featuring benefit-added solutions this sort of as the provision of bicycle racks for autos to improve industry penetration and attain customer choice, primarily from men and women inclined to journey tourism. Numerous commence-ups have currently began featuring auto rental providers with bicycles and will instantly lead to the automotive bicycle rack sector growth.
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COVID-19 is expected to have a Destructive and Indirect effects on the Client Discretionary sector. Even if the distribute of the virus is contained, we hope it to just take more than two quarters (six months) to access a ordinary condition of financial action. In the shorter time period, the industry need will exhibit Inferior advancement.
38% of the market’s expansion will originate from Europe in the course of the forecast interval. Germany is the key marketplace for automotive bicycle racks in Europe. Current market advancement in this area will be slower than the growth of the industry in APAC.
Technavio implies a few forecast situations (optimistic, probable, and pessimistic) looking at the affect of COVID-19. Technavio’s in-depth exploration has direct and indirect COVID-19 impacted sector exploration stories.
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The automotive bicycle rack market is segmented by product (hitch-mounted rack, roof-mounted rack, and trunk-mounted rack) and geography (North The usa, Europe, APAC, South The usa, and MEA).
Hitch mounted racks are the best-offering type of automotive bicycle racks mainly because of the advantages such as simple to install and detach when not in use and the availability of a broad wide range of models with very low-value choices. Moreover, some hitch mounted racks also have foldable versions that could fold flat to present clearance for parking. As a result, influencing the progress of the current market. Current market progress in this segment will be speedier than the development of the market in the roof-mounted and trunk-mounted phase.
Allen Sports activities United states, Atera GmbH, Auto 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 Items Inc. are among the main firms in the automotive bicycle rack marketplace.
The market place is fragmented. With the increasing demand for bicycle racks from automobile rental firms, the competitors among the the players will intensify.
Vital Market Dynamics:
Current market Driver
- Rising demand for experience tourism
- Introduction of new solutions
- Enhanced security of motor vehicles and bicycles
- Diminished fuel efficiency of autos
- Sophisticated set up of bicycle racks
- Problems about esthetic appeal of cars
- Allen Sports United states of america
- Atera GmbH
- Automobile Mate Mfg. Co. Ltd.
- Kuat Improvements
- Mont Blanc Group AB
- Rhino Rack Pty Ltd.
- Thule Team AB
- Tyger Car Inc.
- VDL Groep BV
Yakima Merchandise Inc.
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Key Subjects Protected:
- Executive Summary
- Market Landscape
- Current market Sizing
- Five Forces Investigation
- Sector Segmentation by Close-user
- Consumer landscape
- Geographic Landscape
- Seller Landscape
- Vendor Evaluation
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