Automotive Bicycle Rack Market size is set to grow by USD 457.24 million from 2023-2027, Increasing demand for adventure tourism to boost the market growth, Technavio

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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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

1. Product 
• 1.1 Hitch mounted rack
• 1.2 Roof mounted rack
• 1.3 Trunk mounted rack
2. Application 
• 2.1 Household
• 2.2 Commercial use
• 2.3 Public services
3. 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.

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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: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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