Car Rack Market - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

 

Car Rack Market

The Car Rack Market has seen a surge in demand in recent years. This is due to a variety of factors, including the increasing popularity of outdoor recreational activities, the growth of the e-commerce industry, and the rise of the sharing economy. In this article, we will explore these factors in detail to explain the reasons behind the rising demand of the car rack market.

The global Car Rack Market size was valued at USD 1,213.5 million in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030.

The growth of e-commerce has also contributed to the rising demand for Car Rack Market. As online shopping continues to become more popular, consumers are turning to e-commerce platforms to purchase car racks and other outdoor recreational equipment. E-commerce platforms offer a convenient and easy way to shop for car racks, with many retailers offering free shipping and hassle-free returns. This has made it easier than ever for consumers to purchase car racks, which has in turn contributed to the overall growth of the car rack market.

The popularity of outdoor recreational activities such as cycling, kayaking, camping, and skiing has been on the rise in recent years. As more people are becoming interested in these activities, the demand for equipment and accessories to support them has increased as well. One of the key pieces of equipment required for many of these activities is a car rack. Car racks allow people to transport their gear safely and easily to their destination, whether it's a local trailhead or a ski resort several hours away. This has led to an increased demand for car racks of all types, including bike racks, roof racks, and cargo carriers.

The rise of the sharing economy has also played a role in the growing demand for Car Rack Market. Car-sharing services such as Zipcar and Turo have become increasingly popular in recent years, providing people with an affordable and convenient way to rent a car for short periods of time. As more people are using car-sharing services to get around, the need for car racks has also increased. Many car-sharing providers allow customers to add a car rack to their rental, which has led to a rise in demand for car racks that are compatible with a variety of different car models.

The global Vehicle Camera Market was estimated to be worth US$ 6,954.6 million in 2022, and it is anticipated to expand to US$ 15,211.2 million by 2030, at a CAGR of 10.28%.  Private cars, rental and commercial vehicles, and law enforcement vehicles all have onboard cameras. These cameras continuously capture video, which can be used as proof in cases of accidents or illegal behaviour. Price ranges for these cameras range from under $100 to over $400 USD. These cameras support parking, acquire important evidence, aid in parking, and offer night vision for drivers.

Top Manufacturers are Saris, Thule Group, Car Mate Mfg. Co. Ltd., Yakima Products Inc., Kuat Car Racks, Allen Sports, Malone Auto Racks, Rhino Rack USA LLC, ACPS Automotive, and Cruzber SA

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