What are the different types of hitch bike racks available in the market?

There are three main types of hitch bike racks available in the market: platform racks, hanging racks, and tray-style racks. Platform racks hold bikes by the wheels and are easy to load and unload. Hanging racks support bikes by the frame and are more affordable but may cause bike sway. Tray-style racks are a combination of platform and hanging racks, providing stability and easy loading.