A11733 | Pages: NA | Jul 2022 | 1109 Views | ||
Author(s) : Sonia Mutreja | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Automotive Bicycle Rack Market
Request Now !Automotive bicycle rack or bicycle carrier is a device used to securely park or carry bicycle from one place to another by mounting it on a vehicle. Bicycles can be easily carried with the help of such racks and chances of damage or falling reduces. With the growing bicycle market globally, accessories and parts market has also increased significantly in past few years. Rise in number of premium range bicycle sales made manufacturers remove stands from bicycles to reduce weight and to balance weights on both sides of bicycles. Regions such as Europe are witnessing significant rise in demand for automotive bicycle racks. Governments across the globe are also imposing strict regulations to control pollution and are providing subsidies to bicycle riders to promote eco-friendly transport. Such initiatives are foreseen to reinforce demand for bicycle racks during the forecast period.
Market Scope and Structure Analysis
Report Metric | Details |
Market Size Available for Years |  2020–2030 |
 Base Year Considered |  2020 |
 Forecast Period |  2021–2030 |
 Forecast Unit |  Value (USD) |
 Segments Covered |  Product type, Application, Sales channel, and Region |
 Regions Covered | North America (the U.S., and Canada), Europe (Germany, UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa). |
 Companies Covered | Allen Sports, Kuat, Saris, Yakima, Thule Group, Hollywood Racks, Atera, Hapro, and Mont Blanc. |
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COVID-19 Impact analysis
The COVID-19 pandemic has impacted the bicycle rack market in both ways, negatively and positively. However, demand is anticipated to recover slowly as governments across the globe are easing lockdown restrictions. Pandemic has made consumers more health conscious, which has led consumers to prefer bicycles as an economical means of exercising. Moreover, strict regulations such as social distancing has made public gathering in gyms and traveling in public transport difficult, which is also pushing consumers to shift toward bicycles. Regions such as Europe are witnessing gradual rise in the market since ease in restrictions. As a result, demand for automotive bicycle racks is anticipated to rise in the future.
Top Impacting Factors
Market Trends
Adventure tourists leading the demand
Constant rise has been observed in number of adventure tourists across the globe. Rise in adventure tourism has opened new opportunities for bicycle manufacturers as well as for original equipment manufacturers. Demand for bicycle racks has increased exponentially, owing to craze of adventure bicycles in the adventure tourism industry. Top adventure cycle manufacturers are increasing production of bicycles considering the demand. However, gradual decrease in industry has been witnessed from last few decades, which is still evident due to economic evolution and technological developments in the automotive industry.
Increasing adoption electric bicycles foreseen to bolster the demand
Rise in demand for electric bicycles is evident, owing to high fuel prices and increase in pollution across the globe. Governments are promoting use of electric vehicles. Conventional vehicles emit greenhouse gases, which causes global warming. Electric vehicles are considered to be substitute of conventional vehicles. Hence, electric cycles are being promoted for short distance usage. Manufacturers, specifically from Europe, are involved in upgradation of electric bicycles. Such sudden changes are indirectly influencing demand for bicycle parts and accessories and opening new opportunities for the market growth.
Key Segments Covered
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 Region | North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), LAMEA (Latin America, Middle East and Africa) |
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Key Benefits of the Report
Questions answered in the bicycle rack market research report:
Key Market Segments
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Key Market Players
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