Automotive Roof Rack Market Share

On the basis of regional analysis, the global automotive roof rack market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

Europe and Asia Pacific market are anticipated to hold the largest market share on the back of greater share of expenditure for tourism across the regions. Governments across nations in the regions are increasingly boosting up activities that are contributing towards the growth of the tourism industry. Rising expenditure for tourism in the regions is anticipated to raise the demand for vehicles with greater storage space of tourism related activity goods thereby helping to contribute towards the growth of the automotive roof rack market in the region. According to The World Bank, Europe & Central Asia constituted the largest share of 35.63% for tourism expenditure in comparison to the world during the year 2017. It was followed by East Asia & Pacific region with a share of 33.14%.