Global Bike Rack Market Size By Type (Rear & Hitch Bike Racks And Roof Mounted Bike Racks), By Application (SUVs, Trucks, and Sedans), By Geography Scope And Forecast

Bike Rack Market Size And Forecast

Bike Rack Market size was valued at USD 595.87 Million in 2024 and is projected to reach USD 873.69 Million by 2031, growing at a CAGR of 4.90% from 2024 to 2031.

The Bike Rack Market has noticed massive growth in the past few years due to the increasing penetration of bicycles across the globe due to increasing pollution. The report thoroughly analyzes critical segments, restraints, drivers, trends, competitive landscape, and factors that play an essential role in the market.

Global Bike Rack Market Definition

So, a Bike Rack is basically what you use to take your bikes with you when you're driving your car, truck, or van. You've got a few choices in terms of styles and sizes, like roof-mounted, trunk-mounted, and even ones that go on your hitch. Those roof-mounted racks? They clamp onto the roof, usually using those crossbars or the factory rack if you have one. They're pretty solid for hauling one or more bikes. Then there are the trunk-mounted ones that strap onto the back of your car. They're generally cheaper and easier to put on and take off, but maybe not quite as rock-solid as the roof racks, if you catch my drift.

Hitch-mounted Bike Racks? Think of them as a reliable way to haul your bikes using your car's receiver hitch – that square opening in the back. They can tote around a single bike or a whole crew's worth! Generally, these racks are seen as the rock stars of bike transportsuper stable and secure. The catch? They might hit your wallet a bit harder, and you might need to get a hitch installed if you don't already have one. You'll find bike racks made from all sorts of materials – steel, aluminum, even plastic. Plus, they're often built to handle any bike you throw at them, from speedy road bikes to rugged mountain bikes and even those hefty electric bikes! So, when you're on the hunt for a bike rack, keep a few things in mindhow many bikes are you lugging around? What kind of car do you have? And, of course, what's your budget looking like? The goal is to find a rack that plays nice with your bike and keeps everything safe and sound on the road.

Global Bike Rack Market Overview

Hey, did you know the global Bike Rack Market is really taking off? That's because more and more people are choosing bikes to get around! Seriously, Bike Racks are in demand because cycling is becoming super popular, especially in cities where folks want a greener and cheaper way to commute. Think about itBike Racks let you safely and easily carry your bike in your car, making it simpler to take it anywhere. Plus, with outdoor stuff like cycling, camping, and mountain biking getting bigger, everyone wants Bike Racks to haul their bikes to all those cool spots. Basically, Bike Racks are making it a whole lot easier to hit the road with your bike and explore the great outdoors.

More and more people are seeking greener ways to get around, and biking is seen as a win-winlower carbon footprint and a healthier you! Because of this, Bike Racks are becoming a must-have for folks embracing eco-friendly, convenient travel. Plus, with electric bikes on the rise, there's a growing need for racks that can handle their extra weight and size. Let's face it, electric bikes are heavier than regular ones, making them trickier to transport. But Bike Racks designed just for e-bikes make it easier to bring them along and enjoy all the perks of electric biking.

However, concerns about bike safety and theft can discourage some people from investing in Bike Racks, particularly if they must leave their bikes unattended for extended periods. Bike Racks that are not secure or do not provide adequate protection for bikes may deter some consumers from purchasing them. Also, Bike Racks can be expensive, especially for high-end models or racks transporting multiple bikes. The cost of Bike Racks may discourage or hinder market growth.

Good news! We think there's still room for innovation and growth in the bike rack world. For starters, companies have a real chance to design completely new and innovative Bike Rack designs – ones that really listen to what customers want, offering both security and ease of use for transporting bikes. Those firms that can create Bike Racks that are lightweight, easy to install, and keep bikes super safe could definitely have an edge over the competition. Plus, with biking getting more popular all the time, there could be some awesome opportunities for Bike Rack manufacturers to move into new areas, like growing economies where biking is really taking off. Manufacturers who can offer affordable and high-quality Bike Rack options might just find they have a real advantage in these markets.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in The Bike Rack Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in Global Bike Rack Market gauge the attractiveness of a certain sector, and assess investment possibilities.

Global Bike Rack MarketSegmentation Analysis

The Global Bike Rack Market is Segmented on the Basis of Type, Application, And Geography.

Bike Rack Market, By Type

• Rear & Hitch Bike Racks
• Roof Mounted Bike Racks
• Others

So, when it comes to Type, bike racks basically fall into a few categorieswe've got Rear & Hitch Bike Racks, Roof Mounted Bike Racks, and then "Others" to cover everything else. Interestingly, back in 2021, those Roof Mounted Bike Racks were the most popular, bringing in the most money. These racks, as you might guess, are made for carrying your bikes on top of your car, truck, or van. You can attach them right onto the roof or even inside the vehicle, sometimes called "trunk-mount" racks. Now, roof mounts either bolt directly onto your car (meaning you'll have to take off any rack you already have) or they clamp onto those factory roof rails. Just a heads up, thoughthey don't always work with all kinds of crossbars, so double-check compatibility before you buy! And here's a cool thingsome roof mounts are designed so you can take them on and off without any tools, making it super easy to switch them between vehicles without a lot of fuss.

Bike Rack Market, By Application

• SUV
• Truck
• Sedan

When we look at Application, the market breaks down into SUVs, trucks, and sedans. And get thistrucks actually brought in a big chunk of the revenue in the Bike Rack Market back in 2021! We're expecting to see even more trucks using bike racks globally in the years to come. Plus, some states have rules about what you can haul inside work vehicles, so lots of businesses are choosing bike racks that attach to trucks instead of those ground-level or wheel-mount styles. Loads of vehicle owners are also grabbing ATV carrier models – they come in all sorts of designs and really boost safety by keeping everything locked up tight, no matter where you're headed.

Bike Rack Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Based on Geography, The Bike Rack Market is classified into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. During the prediction time, the North American region is expected to maintain a major stake in the Global Bike Rack Market due to the growing rage of cycling as a mode of transportation, increasing demand for outdoor recreational activities, and a trend toward eco-friendly transportation options. The region is home to several major Bike Rack manufacturers, including Thule Group, Yakima Products Inc., and Saris Cycling Group, headquartered in the United States.

Additionally, the region has a well-established cycling culture and infrastructure. Many cities promote cycling as a sustainable transportation option and invest in bike-friendly infrastructure such as bike lanes and parking facilities. The growing popularity of electric bikes in North America also drives demand for Bike Racks to transport these heavier and bulkier bikes safely. The region is anticipated to continue to be a key market for Bike Racks due to the increasing popularity of cycling and a growing demand for eco-friendly transportation options.

Key Players

The “Global Bike Rack Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Thule Group, Yakima Products Inc., Saris Cycling Group, Curt Manufacturing LLC, Swagman, Hollywood Racks, Kuat Racks, Allen Sports, RockyMounts, Topeak Inc., Heininger Automotive, Atera GmbH, Uebler GmbH, VDL Groep BV, and Rhino Rack.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key developments

• In April 2023, Thule introduced Thule Epos – the most versatile bike carrier fitting all types of bikes. Thule Epos is a new, fully foldable, and tiltable towbar bike carrier with an innovative telescopic bike attachment system designed to transport bikes of any type or size – whether it is mountain bikes, gravel bikes, or e-bikes.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Report Scope

Research Methodology of Market Research

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in