About Vehicle Trailer Hitch
A vehicle trailer hitch is a device attached to the chassis of a vehicle for towing. Vehicle trailer hitch market has high growth prospects owing to an increasing number of car breakdown incidences, technological advancement in vehicle trailer hitch for handling more load capacity, and rising applications for heavy-duty trucks. Further, growing demand from the developing economies expected to drive the demand for the vehicle trailer hitch market over the forecasted period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Vehicle Trailer Hitch market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Horizon Global Corporation (United States), CURT Manufacturing LLC (United States), B&W Trailer Hitches (United States), BOSAL (Belgium), MVG (Germany), AL-KO (Germany), Brink Group (Netherlands), Tow-Trust Towbars Ltd (United Kingdom) and GDW Group (Belgium) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are CineMilled (United States) and Campway's Truck Accessory World (United States).
Segmentation Overview
AMA Research has segmented the market of Global Vehicle Trailer Hitch market by Type (Rear Receiver Hitch, Front Mount Hitch, 5th Wheel Hitch, Gooseneck Hitch, Pintle Hitch, Bumper Hitch and Weight Distribution Hitch), Application (RVs, Vans/Pickup Truck, Boat Trailers and Other) and Region.
On the basis of geography, the market of Vehicle Trailer Hitch has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Spain, Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channel, the sub-segment i.e. OEM will boost the Vehicle Trailer Hitch market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Class, the sub-segment i.e. Class I Trailer Hitch will boost the Vehicle Trailer Hitch market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancement in Vehicle Trailer Hitch for Handling More Load Capacity
Market Growth Drivers:
Increasing Incidences of Vehicle Breakdown and Growing Demand for Heavy Duty Trucks
Challenges:
Lack of Awareness in the Emerging Economies
Restraints:
High Cost of Vehicle Trailer Hitch and Tow Weight Restrictions Associated With Different Types of Vehicle Trailer Hitch
Opportunities:
Increasing Demand of Vehicle Trailer Hitch with High Load Capacity and Growing Demand from the Developing Economies
May 2019, CineMilled launched a vehicle line of products for rigging vehicles, hitch mount with Solid aircraft aluminum billet design and standard 2″ trailer hitch size.
Key Target Audience
Vehicle Trailer Hitch Manufacturers, Vehicle Trailer Hitch Distributors, Technology Providers, Potential Investors, Government and Research Organizations, Trade Associations and Industry Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.