Truck Rack Market - Overview

Truck racks are mounted over the roof of vehicles; sometimes they are attached to the trolley of trucks in order to carry luggage. Truck racks are bolted on the rail of the truck trolley as an additional part of the vehicle. Moreover, truck racks are usually made of steel or aluminum, as these materials possess high strength that can bear the load of the luggage. Racks are mounted to carry ladders in several commercial vehicles.

The global truck rack market is expected to expand at a significant pace owing to the rising popularity of racks, as they enable hauling of higher volume of luggage on the vehicle. Moreover, truck racks are utilized in light trucks and rising production of light trucks is likely to be a major factor that is expected to boost the truck rack market. Rising industrialization and expansion of SMEs in the developing countries are major factors boosting the market for light commercial vehicles that are equipped with truck racks. This, in turn, is augmenting the truck rack market. Rising preference of people for light trucks over passenger vehicles for touring is anticipated to be a key factor that is likely to propel the truck rack market.

Truck Rack Market - Segmentation

The global truck rack market can be segmented based on material, sales channel, and region. In terms of material, the aluminum segment is anticipated to expand significantly owing to its light weight, which results in addition of light weighted rack; however, alternative materials possess higher weight. Therefore, most people prefer aluminum racks over other material racks. The higher cost of aluminum racks is a key factor, which is likely to hamper the aluminum rack segment.

In terms of sales channel, the aftermarket segment is likely to hold a major share of the market, as most vehicles are not equipped with factory-fitted racks. Moreover, a truck rack is an addition to the vehicle, thus people buy it from local vendors according to their requirement. Some OEMs provide factory-fitted truck racks, which are mostly made of aluminum.

In terms of region, North America is anticipated to hold a major share of the global market owing to the high production of light commercial vehicles, followed by Asia Pacific. Light commercial vehicles are manufactured in large quantities in the region, owing to presence of a few major light truck manufacturers such as Ford and General Motors coupled with the preference of people for light trucks over passenger vehicles even for non-commercial applications. The truck rack market in Asia Pacific is expected to expand at a significant growth rate during the forecast period, owing to increase in industrialization, which is expected to be a key factor fueling the production of the light commercial vehicles, in the region.

Truck Rack Market - Key Players

Key players operating in the global truck rack market include U.S. Rack Inc., Truck Rack & Custom Fabrication, Rackit Truck Racks, Kargo Master, Cross Tread Industries Inc., Hauler Racks, Inc., Topper Manufacturing Company, Inc., and TEXAS TRUCK RACKS.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Truck Rack Market

Pre Book