The global sports and cargo carrier market is estimated to reach US$2.03 billion in 2023, growing at a CAGR of 11.57% for the period spanning 2019-2023. Sports and cargo carrier are mainly utilized for carrying essential sports gears securely. The growth of the market has been driven by increment in SUVs vehicle production, increasing expenditure on travel and tourism, rising e-commerce retail sales and expanding urbanization. However, growth of the market would be challenged by hiking raw material prices, higher fuel prices, quality issues in online purchase and seasonality. Some of the noteworthy trends of the market include emergence of new sports, increasing use of SUV type vehicles, upsurge in outdoor activities and surging millennial spending.
The global sports and cargo carrier market is categorized into the following segments: Roof rack, Roof box, Bike car rack, Ski rack and Watersport carrier. In 2018, bike car rack was the dominant segment because of the driving factors such as increasing demand for recreational vehicles, emerging use of racks for different storage purposes during the tours and increasing travel and tourism rate.
The fastest growing regional market is the Europe owing to increasing demand of roof racks in the region, increasing expenditure on travel and tourism and increment in recreational vehicle production. North America represents one of the largest sports and cargo carrier market and is already well-penetrated at developed market levels because of the increasing participation in sports and outdoor activities and a large number of young people moving out to different cities for studies and work in countries like the U.S.
Scope of the Report:
• The report provides a comprehensive analysis of the global sports and cargo carrier market, segmented into Roof rack, Roof box, Bike car rack, Ski rack and Watersport carrier segments.
• The major regional markets (North America and Europe) have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Thule Group AB, Kemflo Inc. Co.,Ltd., BrenderUP Group AB (Mont Blanc Group), BOS Group (ATERA), Saris Cycling Group Inc., and VDL Groep (VDL Hapro)) are also presented in detail.
Key Target Audience:
• Sports and Cargo Carrier Manufacturers
• Sports and Cargo Carrier Distributors/Wholesalers
• Consulting Firms
• Investment Banks
• Government Bodies & Regulating Authorities.