Product ID: UCMIG25A2032
Automotive Roof Racks Market Size, Share, Growth Analysis, By Product Type(Raised Rail, Roof-Mount), By Vehicle Type(Passenger Cars, Commercial Vehicles), By Regions(North America, Europe) - Industry Forecast 2024-2031
Report ID:
UCMIG25A2032 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Automotive Roof Racks Market Insights
Market Overview:
The global market size for automotive roof racks was USD 2.11 billion in 2020. However, due to the COVID-19 pandemic, the demand for automotive roof racks declined across all regions. Despite this, the market is projected to grow from USD 2.18 billion in 2021 to USD 3.39 billion in 2028, with a CAGR of 6.49% during the 2021-2028 period. Based on analysis, the market exhibited slow growth in 2021, with a growth rate of 3.0%. The slow growth in CAGR can be attributed to the market's demand and growth returning to pre-pandemic levels once the pandemic is over.
Automotive Roof Racks Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Auto Parts & Equipment by segment aggregation, the contribution of the Auto Parts & Equipment in Automobiles & Components and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Automotive Roof Racks Market Report Snapshots
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