Press release
Towbars Market: Emergence of Advanced Technologies and Global Industry Analysis
Towbars are attached to the vehicle chassis. They consist of a neck with a towball at one end which helps the towbar to pull the carrier or trailer. Towbars are used when engine breakdown occurs or if a vehicle is not in working condition and needs to be pulled to the service station by another vehicle which has a towbar attached to its chassis.
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Fixed towbars are towbars which are integrated with a vehicle’s chassis and cannot be removed. They are permanently fixed to a vehicle. Fixed towbars are of two types – flange ball and bolt-on towbars. Flange ball towbars are generally used in commercial vehicles and bolt-on towbars are used in passenger vehicles.
Detachable towbars are towbars which are not integrated with the vehicle’s chassis and can be removed from the chassis when the towbar is not required. Detachable towbars do not hinder the design of a vehicle. Detachable towbars are of two types: horizontally detachable towbars and vertically detachable towbars.
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Market Segmentation
The market for global towbars market is segmented into original equipment (OE) market and aftermarket. By type, the market is segmented into fixed, detachable, manual, semi-automatic, automatic, retractable and other towbars. By vehicle type, the market can be classified into passenger vehicles, light commercial vehicles, and heavy commercial vehicles.
Regional Analysis
By geography, the towbars market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is a major towbars market.
The U.S. is the largest market in this region as it is the largest automotive market in the world. Canada and Mexico are other major markets in this region. Europe is another major towbars market, led by Germany as it is the largest automotive market in Europe. The U.K, France, Italy, Spain, Sweden, Belgium and Netherlands are other major markets in this region.
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Asia Pacific is one of the largest global towbars market. China is the largest market in this region due to its prominent automotive market. Japan, South Korea, Australia and India are other major markets in this region. Middle East & Africa is a major towbar market with Turkey, Iran and South Africa being dominant markets in this region. Latin America is also a major towbars market, dominated by Brazil and Argentina.
Some of the major firms in the towbars market are BOSAL Group (Belgium), Westfalia-Automotive GmbH (Germany), STEINHOF Sp. z o.o. Sp.K. (Poland), Witter Towbars (the U.K), PCT Automotive (The U.K), Camex Automotive (Australia), North Shore Towbars (New Zealand), and McCabe Towbars (Ireland).
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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