About Hitch Lock
The Hitch locks are the locks used to safeguard the trailers or towed automobiles. These locks are designed to stop thieves from stealing the consumer vehicles it even keeps the trailer and receiver hitched together until they are unlocked. These locks restrict anyone from lifting the receiver, and they won't be able to unhitch the trailer unless the lock is off. Over the past few, due to upsurging heavy vehicle traffic and upsurging automobile developments will ultimately upsurge the demand for hitch locks. However, highly expensive hitch locks might hamper the growth of Hitch Locks.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Hitch Lock 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.
Master Lock Company LLC (United States), Proven Industries (United States), Connor USA Towing (United States), CURT Manufacturing LLC (United States), Thule (United States), Horizon Global Corporation (United States), Zephyr Lock LLC (United States), Yakima Products Inc (United States), Swagman (Canada) and Andersen Hitches (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are BOLT Lock & Strattec Security Corporation (United States).
Segmentation Overview
AMA Research has segmented the market of Global Hitch Lock market by Type (Bent Pin Hitch Lock, Flush Pin Hitch Lock and Threaded Pin Hitch Lock), Application (Tow Vehicle, Trailer and Others) and Region.
On the basis of geography, the market of Hitch Lock 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 Distribution Channel, the sub-segment i.e. Direct Sales will boost the Hitch Lock market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Introduction to Waterproof Hitch Locks which will Increase the Durability of the Locks and Growing Adoption of Highly Secure Electric and Smart Hitching Applications
Market Growth Drivers:
Increasing Awareness about Safety and Security of the Automobiles and Upsurging Need for Hitch Locks in Towing Applications
Challenges:
Hitch Locks can be Damaged by the Overexposure to Moisture and Dirt and Increasing Hard Steel and Other Raw Material Prices
Restraints:
Availability of Substitute Locks and Towing Techniques and Comparatively Expensive than the Conventional Locks
Opportunities:
Growing Automobile Traffic Across the Globe and Introduction to Universal Sized Hitch Locks will Encourage the Business Growth due to Increased Compatability
On September. 5, 2019, The Master Lock Company has unveiled its new family of Grip Tight Plus Circuit Breaker Lockout devices. These devices are designed to take the guesswork out of the circuit breaker lockout which is available in S3821, S3822, and S3823 models. These locking circuits allow employees to reliably lockout an even greater range of circuit breaker applications, including on multi-pole breakers, tie-bar toggle breakers and 480 V molded case or oversized breakers.
Key Target Audience
Hitch Lock Manufacturers, Hitch Lock Distributors and Suppliers, Hitch Lock International Traders, Industry Association, Automotive Retail Industry Associations, Financial Institutes and Venture Capitalists, Research and Development Institutes 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.