The automotive roof racks are a group of bars in a stand that are employed for the effective transportation of load while traveling. Automotive roof racks are fitted over the top of the vehicle to support or hold luggage or goods placed on the top of the vehicle for effective transportation such as luggage, bicycles, and various carriers. Earlier, the automotive roof racks were permanently fitted on the roof of the vehicle, and a mechanic was required to disassemble it. However, presently roof racks can be fitted temporarily and are more effective and efficient, they can be fitted or attached with simple hooks and joints on the roof of the vehicles.
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COVID-19 scenario analysis:
- The industrial automation industry was not in a great place before COVID-19 struck, flat capital expenditure and declining industrial production will be impacting the growth of the market.
- The virus may force companies to accelerate investment in factory automation when the global economy eventually rebounds, but that will take a while.
- The fallout from COVID-19 will focus organizations on the need to automate faster in the medium term, not least to help bridge the productivity gap.
Growth in adventure sports & tourism activities
The number of tourists across the world has increased in the past few years and an increase in disposable income boosts the demand of the vehicles with luggage carriers, which in turn significantly drives the demand for roof racks. Countries like France, Italy, China, India, Dubai, Germany, and others which are having a high number of tourist footfalls, and these countries are also having various tourist places that can engage the tourists for long journeys along with their luggage which foster the market growth.
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Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The top impacting factors include adventure sports & tourism activities and low maintenance & operational cost. Moreover, automotive roof racks cause air resistance to the vehicles while driving. In addition, the overall weight of the vehicle will be increased and hence, the fuel efficiency of the vehicles is reduced. Furthermore, manufacturers are focusing on the development of lightweight and durable roof racks to reduce the weight of the vehicle, which in turn is expected to create new opportunities in the automotive roof rack market during the forecast period.
Low maintenance & operational cost
The automotive roof racks are subjected to very less operational cost as they are made up of tough material like are aluminum alloy and composite plastic. The automotive roof racks have high durability which does not embed high cost of operations and maintenance. The demand for automotive roof racks have increased in recent time due to these factors, which boosts the market growth.
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