Now Available: Global Bike Car Rack Market 2016-2020

This market research report presents a detailed segmentation of the global bike car rack market by product type (hitch-mounted rack, trunk-mounted rack, and roof-mounted rack) and by geography (APAC, Europe, North America, and ROW). Key vendors in this market include Thule, Yakima, Allen Sports, and Kuat.

Overview of the global bike car rack market

Technavio's market research analyst predicts the global bike car rack market to grow at a CAGR of around 5% by 2020. One of the primary drivers for this market is the increasing use of bikes as the preferred mode of transportation. Growing health and environmental concerns have pushed consumers to opt for bikes as a commuting vehicle. At present, the prevalence of chronic diseases such as hypertension and obesity has taken a toll on the populace due to the lack of physical activity. As a result, governments from across the world are encouraging people to use bikes as a mode of transportation. Parking facilities have increased and separate lanes are also being created for cyclists. Increased use of bikes as a transportation mode will augment the sale of bike car racks during the forecast period.

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According to this market research report, an important trend spurring growth in this market is the introduction of the ridesharing concept. Several car rental service providers are installing bike racks on their cars to provide value have added services to their customers for better market shares. For instance, Europcar Australia offers vehicles with bike racks, which allows the user to ride on the biking trails. Owing to the increased demand for bike-ready vehicles, the car rental company has tripled its fleet to meet the increased demand from cycling fans. The recent rise in the demand for recreational activities during the forecast period will foster the growth of this market until the end of 2020.

Technavio's analysts forecast the Global Bike Car Rack Market to grow at a CAGR of 5% during the period 2016-2020.

Covered in this report
The report covers the present scenario and the growth prospects of the Global Bike Car Rack Market for 2016-2020.

The market is divided into the following segments based on geography:

* APAC
* Europe
* North America
* ROW

Technavio's report, Global Bike Car Rack Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors

* Thule
* Yakima
* Allen Sports
* Kuat

Other prominent vendors

* Prorack
* Rockymounts
* RhinoRack
* Saris
* Sport rack
* Swagman
* Whispbar

Market driver

* Surge in recreational activities

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