Car Rack Market Size, Share, Growth Analysis, By Application Type(Roof Rack, Roof Box, Bike Car Rack, Ski Rack), By Distribution Channel(Online Sales, Offline Sales), By Region - Industry Forecast 2024-2031

Growing demand for parking and cargo for small and compact SUVs is expected to drive the global car rack market. Moreover, the increasing demand for leisure travel and leisure activities will further drive the parking market. Furthermore, increasing investment in research and development (R&D) will also propel the parking market. North America is expected to dominate the market. This is due to the young population in the region and the high demand for tourism-based transportation.

North America is expected to account for the largest share in the global parking market during the forecast period owing to the continued growth of the tourism industry in the US. Moreover, the growing popularity of converting camper vans into motor homes by adding roofs or trailers helps the market growth in this region for example. A total of 40,800 passenger cars were shipped to the U.S. This in turn drives market growth in the region.

Furthermore, Asia-Pacific is also anticipated to witness significant growth in the global automotive parking market during the forecast period. This is due to strong participation in winter sports activities in China and the expanding tourism industry in India and elsewhere. For example, there were 770 ski resorts in China in 2019, according to SkyQuest Market Insights. Asia-Pacific region also has a strong position in the global car rack market due to Asian manufacturers, vital raw material sources, shift towards recycling and China, Cambodia, Bhutan, Vietnam, Singapore have cycling leisure options best in Asia, which expanded car rack use.