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Global Automotive Tow Bars Market: Analysis of Opportunities Offered by High Growth Economies, Review till 2022
Fact.MR
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New technologies and advancements in material science have resulted in boom in the global automotive tow bars market. These developments have enabled the manufacturers to use metals or polymers with higher tensile strengths which could significantly improve the functionality of the tow bar as well as its operational life. The major factor driving the growth of the global automotive tow bar market is the rapid development in the manufacturing techniques o tow bars as well as their materials. Additionally, 3D printing has opened many paradigms which allow the key players to manufacture the extremely complex tow bar material with ease, enhancing their operational functionality. Moreover, the global automotive tow bar market growth is directly associated with the growth of the automotive industry, and as it grows, the use of tow bars increases, thereby impacting the market in a positive way. Europe region is the most lucrative for the tow bar market as it shows higher market attractiveness.
The global automotive tow bars market is poised to reach a value of about US$ 6,800 Mn by the end of 2022 and is anticipated to grow at a steady CAGR during the forecasted period of 2017 to 2022.
Retractable Towbars Largest Segment in Automotive Towbars Market
The retractable towbar segment comprises more than a quarter revenue share in the automotive towbar market by product type and is poised to be worth almost US$ 1.9 billion by end 2022. Even though Europe represents the largest region in this segment, companies are advised to target Latin America also as this dynamic, fast-growing region is estimated to record the highest CAGR.
Detachable Towbars to Gain Popularity in Automotive Towbars Market
Detachable towbars account for a slightly lesser contribution in terms of product type in the automotive towbars Market. APEJ is anticipated to push past Europe by the end of the forecast period and be worth just over US$ 442 million. However, Europe cannot be ignored at the cost of APEJ and key stakeholders in the automotive towbars Market are advised to devise their long-term strategies accordingly.
IAM and OEM Segment Have Similar Market Opportunity
The IAM and OEM segment have a similar market as both have a revenue share of approx. 1/3rd in the automotive towbar market. This equates to a market value of nearly US$ 2.4 billion by the end of the study period, making them extremely lucrative opportunities in the automotive towbar market. Along with Europe, companies could look at targeting either North America or APEJ as these regions have the greatest potential in the automotive towbar market.
Close Call Between Compact and Mid-sized Passenger Cars
It is a closely fought battle between compact cars and mid-sized passenger cars in the automotive towbar market with the former currently leading. Companies that wish to focus on the compact segment in the automotive towbar market are recommended to focus on either Europe or APEJ as these two regions are on track to exceed half a billion dollars by end 2022.
Competition Dashboard
The Fact.MR report on the automotive towbar market has profiled active companies’ in the automotive towbar market which include Bosal International N.V., Westfalia Automotive GMBH, Thule Group, Dixon Bate Limited, David Murphy Towing Brackets Limited, and Brink Group B.V.
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Table of Content
1. Global Automotive Tow Bars Market - Executive Summary
2. Global Automotive Tow Bars Market Overview
2.1. Introduction
2.1.1. Global Automotive Tow Bars Market Taxonomy
2.1.2. Global Automotive Tow Bars Market Definition
2.2. Global Automotive Tow Bars Market Size (US$ Mn) and Forecast, 2012-2022
2.2.1. Global Automotive Tow Bars Market Y-o-Y Growth
2.3. Global Automotive Tow Bars Market Dynamics
2.3.1. Drivers
2.3.2. Restraints
2.3.3. Trends
2.4. Supply Chain
2.5. Cost Structure
2.6. Pricing Analysis
2.7. Raw Material Sourcing Strategy and Analysis
2.8. List of Distributors
2.9. Key Participants Market Presence (Intensity Map) By Region
3. Global Automotive Tow Bars Market Analysis and Forecast By Product Type
3.1. Global Automotive Tow Bars Market Size and Forecast By Product Type, 2012-2022
3.1.1. Retractable Tow Bars Automotive Tow Bars Market Size and Forecast, 2012-2022
3.1.1.1. Revenue (US$ Mn) Comparison, By Region
3.1.1.2. Market Share Comparison, By Region
3.1.1.3. Y-o-Y growth Comparison, By Region
3.1.2. Detachable Tow Bars Automotive Tow Bars Market Size and Forecast, 2012-2022
3.1.2.1. Revenue (US$ Mn) Comparison, By Region
3.1.2.2. Market Share Comparison, By Region
3.1.2.3. Y-o-Y growth Comparison, By Region
Continue…@@
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Automotive Market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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