The global automotive roof bar and roof racks market is expected to grow significantly in the coming years. According to a report by MarketsandMarkets, the market is expected to reach a valuation of USD 1.44 billion by 2025, growing at a CAGR of 5.2% during the forecast period (2020-2025).

Automotive roof bars and roof racks refer to the additional components installed on the roof of a vehicle to carry extra luggage or other equipment. They provide additional storage space for items that cannot fit inside the vehicle and are commonly used by outdoor enthusiasts, travelers, and adventure sports enthusiasts.

Meaning:

Automotive roof bars and roof racks are designed to provide additional storage space on the roof of a vehicle. They are commonly used for carrying items such as bicycles, skis, kayaks, and luggage, among others.

Executive Summary:

The global automotive roof bar and roof racks market is poised to grow at a significant rate in the coming years. The market is driven by the increasing demand for additional storage space in vehicles, as well as the growing popularity of outdoor activities and adventure sports.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights:

The automotive roof bar and roof racks market is expected to grow at a CAGR of 5.2% during the forecast period, driven by factors such as increasing demand for additional storage space, rising popularity of outdoor activities and adventure sports, and technological advancements in the automotive industry.

The market is segmented based on material, product type, end-use, and region. By material, the market is segmented into aluminum, steel, and composite plastic. By product type, the market is segmented into roof racks and roof bars. By end-use, the market is segmented into OEM and aftermarket.

Market Drivers:

1. Increasing demand for additional storage space in vehicles
2. Growing popularity of outdoor activities and adventure sports
3. Technological advancements in the automotive industry
4. Rising demand for lightweight and durable materials
5. Increasing adoption of roof racks and roof bars by OEMs

Market Restraints:

1. High cost of advanced roof bar and roof rack systems
2. Limitations in load capacity and aerodynamics
3. Complexity involved in installation and removal
4. Limited consumer awareness in developing economies

Market Opportunities:

1. Growing demand for electric and hybrid vehicles
2. Increasing focus on research and development activities
3. Adoption of advanced manufacturing technologies
4. Emergence of new applications and use cases for roof bars and roof racks

Market Dynamics:

The global automotive roof bar and roof racks market is highly dynamic and is influenced by a variety of factors, including technological advancements, changing consumer preferences, and government regulations. The market is characterized by the presence of a large number of players, each of which is competing to gain a larger share of the market.

Regional Analysis:

The global automotive roof bar and roof racks market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to hold the largest share of the market during the forecast period, owing to the increasing demand for additional storage space in vehicles and the growing popularity of outdoor activities and adventure sports in the region.

Competitive Landscape:

Leading Companies in the Automotive Roof Bar and Roof Racks Market:

1. Thule Group
2. Cruzber S.A.
3. Rhino-Rack USA, LLC
4. Atera GmbH
5. Mont Blanc Industri AB
6. Yakima Products, Inc.
7. Cruz Accessories, S.L.
8. Green Valley S.A.
9. Van-Racks.co.uk
10. Modula Case System Srl

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation:

The global automotive roof bar and roof racks market is segmented based on material, product type, end-use, and region. By material, the market is segmented into aluminum, steel, and composite plastic. By product type, the market is segmented into roof racks and roof bars. By end-use, the market is segmented into OEM and aftermarket.

Category-wise Insights:

1. Aluminum: The aluminum segment is expected to hold the largest share of the market during the forecast period, owing to the lightweight and durable nature of aluminum materials. Aluminum roof bars and roof racks are commonly used in high-end vehicles and offer improved fuel efficiency and reduced emissions.
2. Roof Racks: The roof racks segment is expected to hold the largest share of the market during the forecast period, owing to their versatility and ability to carry a wide range of equipment and luggage. Roof racks are commonly used for carrying bicycles, skis, kayaks, and luggage, among others.
3. OEM: The OEM segment is expected to hold the largest share of the market during the forecast period, owing to the increasing adoption of roof bars and roof racks by vehicle manufacturers. OEMs are increasingly incorporating roof bars and roof racks as standard or optional equipment in their vehicles to meet the growing demand for additional storage space.

Key Benefits for Industry Participants and Stakeholders:

1. Increased demand for additional storage space in vehicles
2. Improved fuel efficiency and reduced emissions
3. Compliance with government regulations and standards
4. Improved brand image and customer satisfaction
5. Enhanced market competitiveness

SWOT Analysis:

Strengths:

1. Growing demand for additional storage space in vehicles
2. Technological advancements in the automotive industry
3. Strong presence of key players in the market

Weaknesses:

1. High cost of advanced roof bar and roof rack systems
2. Limitations in load capacity and aerodynamics
3. Complexity involved in installation and removal

Opportunities:

1. Growing demand for electric and hybrid vehicles
2. Increasing focus on research and development activities
3. Adoption of advanced manufacturing technologies
4. Emergence of new applications and use cases for roof bars and roof racks

Threats:

1. Intense competition among key players
2. Volatility in raw material prices
3. Economic slowdowns and market saturation
4. Impact of Covid-19 pandemic

Market Key Trends:

1. Increasing adoption of lightweight and durable materials
2. Growing focus on aerodynamics and fuel efficiency
3. Integration of connected technologies in roof bar and roof rack systems
4. Increasing adoption of roof bars and roof racks by OEMs

Covid-19 Impact:

The Covid-19 pandemic has had a significant impact on the global automotive roof bar and roof racks market. The outbreak of the pandemic led to a decline in sales and revenue, as consumers reduced their spending on non-essential items. However, the market is expected to recover in the coming years, driven by the increasing demand for additional storage space in vehicles and the growing popularity of outdoor activities and adventure sports.

Key Industry Developments:

1. In March 2021, Thule Group announced the launch of its new Motion XT rooftop cargo box, designed to offer increased storage space and improved aerodynamics.
2. In January 2021, Yakima Products, Inc. announced the launch of its new EXO system, designed to provide additional storage space for outdoor enthusiasts and adventure sports enthusiasts.

Analyst Suggestions:

1. Increase investments in research and development activities to develop innovative roof bar and roof rack systems.
2. Focus on lightweight and durable materials to improve fuel efficiency and reduce emissions.
3. Develop partnerships and collaborations with other players in the market to enhance market competitiveness.
4. Increase focus on developing roof bar and roof rack systems for electric and hybrid vehicles.

Future Outlook:

The global automotive roof bar and roof racks market is expected to grow at a significant rate in the coming years, driven by factors such as increasing demand for additional storage space, rising popularity of outdoor activities and adventure sports, and technological advancements in the automotive industry. The market is expected to be driven by the adoption of lightweight and durable materials, the integration of connected technologies in roof bar and roof rack systems, and the increasing adoption of roof bars and roof racks by OEMs. Additionally, the growing demand for electric and hybrid vehicles is expected to create new growth opportunities for players in the market.

Conclusion:

In conclusion, the global automotive roof bar and roof racks market is expected to grow significantly in the coming years, driven by factors such as increasing demand for additional storage space, rising popularity of outdoor activities and adventure sports, and technological advancements in the automotive industry.

The market is highly competitive, with a large number of players competing to gain a larger share of the market. To succeed in this highly dynamic market, players will need to focus on innovation, research and development, and collaboration with other players in the industry. The growing demand for electric and hybrid vehicles is also expected to create new growth opportunities for industry participants and stakeholders. Overall, the future outlook for the global automotive roof bar and roof racks market is positive, and the market is expected to continue to grow in the coming years.