Automotive Bicycle Rack Market Size, Share, Growth, and Industry Analysis, By Type (Hitch Mounted Rack, Roof Mounted Rack, Trunk Mounted Rack, and Pickup Carriers), By Application (into Household, Commercial Use, Public Services, and Others) and Regional Forecast to 2032

Updated On: 29 April 2024

AUTOMOTIVE BICYCLE RACK MARKET REPORT OVERVIEW

Theglobal automotive bicycle rack market size was USD 3405.2 million in 2022 and market is projected to touch USD 4185.9 million by 2028 at CAGR 3.5% during the forecast period.

An automotive bicycle rack is a device aimed at securely attaching bicycles to vehicles, allowing for convenient transportation. These racks come in several designs, such as roof-mounted racks, hitch-mounted racks, trunk-mounted racks, and spare tyre-mounted racks, offering flexibility for different vehicle types and user preferences. Automotive bicycle racks typically feature strong construction and certain attachment mechanisms to guarantee the safety of both the bicycles and the vehicle during transit. They play a crucial role in allowing outdoor enthusiasts, cyclists, and families to transport bicycles to various destinations, such as trails, parks, or vacation spots, without the need for specialized bike trailers or additional vehicles.

The automotive bicycle racks market has experienced stable growth in recent years, driven by various factors, including rising interest in outdoor activities, cycling as an amateur and fitness pursuit, and the growing popularity of cycling events and tourism. Additionally, urbanization and limited space in urban areas have contributed to the demand for portable and space-efficient solutions for carrying bicycles. Technological advancements have also led to innovations in rack designs, including lightweight materials, aerodynamic shapes, and integrated locking systems, further enhancing the appeal and functionality of automotive bicycle racks. With a diverse range of options available from different manufacturers, the market continues to expand, catering to the needs of cyclists and outdoor enthusiasts worldwide.

COVID-19 Impact: Market Growth Increased by Pandemic due to Supply Chain Disruption

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic caused a substantial downturn in the automotive bicycle rack market. Lockdown measures and restrictions imposed by governments worldwide resulted in a sharp decline in consumer spending as individuals’ prioritized essential items over optional purchases like bicycle racks. Moreover, the pandemic-induced disruptions in global supply chains exacerbated the situation, causing delays and shortages in the production and distribution of bicycle racks. Factory closures, transportation limitations, and logistical challenges further hindered the availability of these products, compounding the negative impact on the market.

LATEST TRENDS

"Changing the Lifestyle Leads to Market Growth"

The latest trend in this market has been a notable shift towards more adaptable and user-friendly designs that cater to the growing need for active lifestyles and outdoor activities. Manufacturers are focusing on creating racks that are easier to install, offer better security features for bikes, and are compatible with a wider range of vehicles. Additionally, there's an increasing emphasis on lightweight materials and aerodynamic designs to minimise fuel consumption and wind resistance. The integration of smart technologies for tracking and monitoring bikes during transport is also gaining traction, providing consumers with added convenience and peace of mind.

MARKET SEGMENTATION

• By Type

Based on type the global market can be categorized into Hitch Mounted Rack, Roof Mounted Rack, Trunk Mounted Rack, and Pickup Carriers.

• Hitch mounted rack: These racks attach to the hitch receiver of vehicles, providing a strong and easy way to transport bicycles behind the vehicle.
• Roof Mounted Rack: Roof mounted racks secure bicycles on top of the vehicle, using the roof space while enabling access to the trunk and rear of the vehicle.
• Trunk-mounted racks: These racks are attached to the trunk or rear hatch of vehicles, offering a flexible and easily removable solution for transporting bicycles without requiring a hitch or roof rails.
• Pickup Carriers: Pickup carriers are specialized racks designed for trucks, enabling bicycles to be transported safely in the bed of the pickup truck.

• By Application

Based on application the market is classified into into Household, Commercial Use, Public Services, and Others.

• Household: Provide families and individuals with an appropriate way to transport their bikes for recreational activities.
• Commercial Use: These racks cater to businesses including bike rental shops, tour companies, or delivery services, offering a means to transport multiple bicycles effectively for commercial purposes.
• Public Services: Racks deployed in public services, such as bike-sharing programmers or public transportation systems, provide convenient and accessible bike storage and transportation options for urban commuters and travelers.

DRIVING FACTORS

"Growing Technological Advancements lead to an Increase in Market Demand"

Advancements in design and technology have also played an important role in driving the automotive bicycle rack market growth. Manufacturers are constantly innovating to develop racks that are lightweight, aerodynamic, and easy to install while ensuring the safety and security of the bicycles being transported. Furthermore, the integration of features such as anti-theft mechanisms, compatibility with different vehicle types, and adjustable mounting systems has enhanced the appeal of bicycle racks among consumers. As the market continues to evolve, collaborations between the automotive and cycling industries are likely to contribute to the expansion of the market, offering consumers a wide variety of options to fit their specific needs and preferences.

"Changing Lifestyle Activities Accelerate Market Growth"

The market is basically driven by the rising popularity of cycling as a leisure and fitness activity worldwide. With increasing awareness about health and environmental concerns, more individuals are adopting cycling as a means of transportation, leisure, and exercise. This trend has led to a surge in demand for bicycle racks that can be easily mounted on vehicles, enabling cyclists to transport their bikes conveniently to different locations for rides. Additionally, the rise in adventure tourism and outdoor activities has further fueled the demand for automotive bicycle racks as enthusiasts seek ways to transport their bikes securely to various destinations, such as mountain trails, cycling events, or camping sites.

RESTRAINING FACTORS

"Limited Consumer Awareness Slows Down the Market Growth"

One of the primary restraining factors impacting the market is limited consumer awareness and adoption, particularly in regions where cycling infrastructure is underdeveloped or where cycling culture is not as common. Additionally, concerns regarding the security of bicycles during transportation and the complexity of the installation and usage of bicycle racks pose challenges for potential buyers. Moreover, strict regulations and standards regarding vehicle safety and compatibility, coupled with the high cost of quality bicycle racks, can also discourage consumers from investing in these products. Overall, these factors collectively impede the widespread uptake of automotive bicycle racks on the market.

FILE ALARM AND DETECTION SYSTEMS MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America is Leading the Market due to its Changing Lifestyle

North America holds a larger automotive bicycle rack market share compared to other regions, mainly due to the region's high adoption rate of outdoor leisure activities such as cycling and the extensive popularity of road trips and outdoor adventures. Additionally, the well-developed automotive industry in North America, linked with the growing focus on sustainable transportation solutions, has substantially contributed to the demand for bicycle racks, making it the leading market for such products.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The automotive bicycle rack market is dominated by a number of key industry players that focus on designing, manufacturing, and distributing different types of bicycle racks tailored for vehicles. These players leverage their expertise in engineering and product development to offer innovative solutions that cater to the diverse needs of consumers. Their extensive distribution networks and strategic partnerships further solidify their position in the market, allowing them to reach a wide range of customers across different regions. Through continuous research and development efforts, these industry leaders constantly strive to improve the functionality, durability, and compatibility of their products, ensuring they remain at the forefront of this particular market.

 List of Market Players Profiled

• Allen Sports (U.S.)
• Kuat (China)
• Saris (U.S.)
• Yakima (U.S.)
• Thule Group (Sweden)
• Atera (Israel)
• Hapro(Norway)
• Mont Blanc (Germany)

INDUSTRIAL DEVELOPMENT

August 2023: The German Company Pender makes bike racks that can support larger bikes. An easy-to-use roof rack solution was made to solve the difficulties associated with loading and unloading large e-bikes. Its distinctive design features a ground-level telescoping arm with a hook that fastens to the headtube and seatpost of the e-bike.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence the market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.