Automotive Spare Tire Carrier Market Pegged for Robust Expansion During 2019-2029

The COVID-19 pandemic has caused supply and manufacturing disruptions in the automotive sector creating uncertainties in every aspect. The change in customer behavior in terms of mobility preferences during this crisis is changing the automotive landscape. 

This pandemic situation has shut down many production lines owing to the trade restrictions and closed borders, creating a shortage in required parts and limiting the distribution of supplies. Different enforced measures including the closing of workspaces and dismissal of short-time workers have created a depression in the growth rate of the automotive industry. 

The growing fear of recession is estimated to decrease overall sales and revenue. A limited supply of parts coupled with a reduced workforce has forced the leading OEMs to shut down their production. A significant drop in demand has restricted the cash inflow which is highly important in payment of salaries to the workforce. With growing uncertainties around the COVID-19 pandemic, the industry leaders are taking measures to adapt to the situation.

Automotive Spare Tire Carrier is a mechanical fitting to the vehicle for holding the spare tire horizontally or vertically. The spare tire is additional extra tire, hold through automotive spare tire carrier used for replacement of flat tire in case of emergency. The foremost application of the automotive spare tire carrier is to carry the spare wheel to bring it everywhere easily. The automotive spare tire carrier is light in weight and high strength equipment. Off-road and commercial vehicles are a prominent user of an automotive spare tire carrier to carry spare wheel for replacement of the punctured tire for efficient and uninterrupted transport.

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Automotive Spare Tire Carrier Market: Drivers and Challenges

In recent years, Trade and logistic volume is increasing rapidly owing to globalization. Increasing trade activities are expected to fuel the demand for automotive spare tire carrier. The commercial vehicle is estimated to hold the prominent share in the automotive spare tire carrier market owing to factors such as continuous usage of vehicles and long distance operations. The increasing usage of commercial vehicle is estimated to create lucrative growth opportunities in the automotive spare tire carrier market throughout the forecast period. Moreover, the automotive spare tire carrier market is forecasted to hold the prominent share in the aftermarket sales.

Some Automotive Manufacturer installs automotive spare tire carrier along with vehicle mainly in off road and SUV vehicles. Off-road and commercial vehicles are expected to install automotive spare tire carrier to tackle the emergency vehicle breakdowns such as tire bursts and punctures. The increasing fleet volume of SUV, Off road and commercial vehicles are projected to drive the automotive spare tire carrier aftermarket positively. In the present era, the automotive consumer is inclining towards the comfort and safety of the vehicle. Every consumer is demanding hassle-free and comfortable driving to minimize the losses in case of emergencies. Tire bursts and puncture are the common emergency situations which are expected to bolster the demand for automotive spare tire carrier.

Automotive Spare Tire Carrier Market: Segments

The Automotive Spare Tire Carrier Market can be segmented on the basis of Material type, Fitment type, sales channel, vehicle type, and region

On the basis of the material type, the Automotive Spare Tire Carrier Market can be segmented as:

• Aluminum
• Steel
• Plastic
• Polyurethane
• Rubber

On the basis of the fitment type, the Automotive Spare Tire Carrier Market can be segmented as:

• Vehicle Specific
• Universal Fit

On the basis of the sales channel, the Automotive Spare Tire Carrier Market can be segmented as:

• OEM (Original Equipment Manufacturer)
• Aftermarket

On the basis of the Vehicle type, the Automotive Spare Tire Carrier Market can be segmented as:

• Passenger Car
  • Mid-size
  • Compact
  • Luxury
  • SUVs
• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)

Automotive Spare Tire Carrier Market: Regional Outlook

In developed nations such as The U.S., EU5 nations, Japan, South Korea is expected to generate prominent demand for automotive spare carrier owing to high automotive fleet size in the respective regions. The increasing production of commercial vehicles in North America and East Asia owing to increasing trade volume. The increasing production of the commercial vehicle is projected to fuel the demand for automotive spare tire carrier in North America and East Asia Market. Furthermore, emerging economies such as India, Brazil, and China is witnessing increasing usage of commercial vehicles for transportation and logistics activities. The growing transportation and logistics activities in the emerging economies are anticipated to boost the demand for automotive spare tire carrier in the near future. Some regions such as MEA, Asia Pacific, and Latin America has an inferior road infrastructure facilities. Weak quality Road infrastructure tends to the swelling rate of tires failures.  Tire failures are expected to drive the automotive spare tire carrier market positively to tackle emergency situations.

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Automotive Spare Tire Carrier Market: Key Participants

Examples of some of the market participants in the Automotive Spare Tire Carrier Market identified across the value chain include:

• haacon hebetechnik GmbH
• AL-KO KOBER SE
• Outback Accessories Australia
• Kaymar 4WD Accessories
• Rhino-Rack USA, LLC
• Wildenberg Parts
• Pyrotek India Private Limited
• Swan Enterprises
• WILCO OFF-ROAD
• Harbor Freight Tools USA Inc.

The Automotive Spare Tire Carrier research report presents a comprehensive assessment of the Automotive Spare Tire Carrier market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Automotive Spare Tire Carrier market segments such as geographies, application, and industry.

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