About Automotive Tow Bars
More than 50% of the automotive tow bars sales come from North America and Europe. The US, being the worst affected country by COVID-19, has resulted in the shutdown of automotive plants and situation in the EU still remains critical and has faced a production loss of more than 1.5 million vehicles, which has directly impeded the sales of automotive tow bars.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast 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.
Curt manufacturing LLC (United States), David Murphy Towing (Ireland), Parkside Towbars (Trimas corporation) (Australia), Acps automotive GmbH (Germany), Horizon global corporation (United States), Brink group B.V. (Netherlands), Hayman Reese (Australia), Mccabe Towbars (Ireland), North Shore Towbars (New Zealand) and PCT Automotive Limited (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Anker and York Towbars (United Kingdom), Bosal Group (Belgium), BTA Towing Equipment (Australia) and Alois Kober GmbH (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Automotive Tow Bars market by Type (Retractable Tow Bars, Detachable Tow Bars, Fixed Tow Bars and Towing Brackets), Application (Compact Passenger Cars, Luxury Passenger Cars, Sports Utility Vehicle (SUV), Light Commercial Vehicles and Heavy Commercial Vehicles) and Region.
On the basis of geography, the market of Automotive Tow Bars 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 (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. IAM will boost the Automotive Tow Bars market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The economic growth of North America has positively impacted the sale of commercial vehicles and passenger cars
Market Growth Drivers:
Growing disposable income of various developing countries, together with a high demand for adventure and use of caravans and motorhomes
Challenges:
COVID-19 outbreak has created multiple challenges for the automotive industry
Restraints:
Unknown in many regions
Opportunities:
The presence of prominent automotive manufacturers and component manufacturers is propelling the automotive tow bars market value
Market Leaders and their expansionary development strategies
In July 2021, DexKo Global, a global leader in the highly engineered trailer running gears, chassis assemblies, and related components, announced that its subsidiary AL-KO Vehicle Technology Group GmbH had signed an agreement with H2 Equity Partners to acquire Dutch towbar manufacturer Brink International ("Brink "). Financial terms of the deal were not disclosed. This transaction is subject to customary closing conditions and regulatory approvals.
Key Target Audience
Automotive Tow Bars Manufacturers, Automotive Tow Bars Raw material suppliers, Automobile Enterprises, Research Institutes, Suppliers and Distributors and Government Associations
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.