Tow Vehicle Market : Industry Size, Share, Growth, Forecasts 2017 - 2025
The objectives of this study are as follows:
To define, describe, and forecast the "Tow Vehicle" market by type, application, component, delivery model, end user, and region
To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
To forecast the market size of market segments with respect to the four key regions: North America, Europe, Asia, and the Rest of the World (RoW)
To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
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Towing is connecting two or more vehicles together so that those vehicles can be pulled by a designated power source. The vehicles are joined by a rope, chain, bar, hitch, integrated platform, or other resources to keep them together while in motion. A tow truck is a truck used to move disabled, improperly parked, impounded, or otherwise indisposed motor vehicles. There are three types of trailers in the towing vehicle market: small trailers, 18 wheel trailers, and large ‘big rig’ trailers. Small trailers are attached to cars or small trucks (minivans, SUVs). 18 wheel trailers are the trailers which are designed to be hauled in a rig and are a tractor trailer combination, while large ‘big rig’ trailers might require a specialized vehicle, such as a military truck, farm tractor, and tank. Towing capacity is used to measure the upper limit of the weight of a trailer which a vehicle can tow and it is generally measured in pounds or kilograms. Towing capacity can be subdivided into two main categories as braked towing capacity and unbraked towing capacity. Braked towing capacity means how much a vehicle can tow with trailer brakes in use. Braked towing capacity is considerably greater than unbraked towing capacity. The tow vehicle market is expected to witness sustainable growth in the coming years.
The demand for tow vehicles is anticipated to rise owing to improved lifestyle in emerging economies, increasing urban population, rising middle class in countries such as China and India that have compelled companies to manufacture cars, and other vehicles. As disposable income increases, more people feel the need for comfortable driving instead of carpooling or use of public transport. This induces the purchase cars. The chance of an accident or demand for roadside support rises, when more cars or vehicles are on the road. Furthermore, bad weather conditions and tendency of people to use their old vehicle are factors which are also expected to contribute to the growth of the tow vehicle market. The cost of the towing service might act as a restraint to the tow vehicle market. In countries like India, people use a rope or metal wire to tow a vehicle instead of using costly towing services in case of breakdown or an emergency.
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The tow vehicle market is segmented on the basis of drive type, fuel type, vehicle type, end-user, and region. On the basis of drive type, tow vehicles are classified as 2-wheel drive, and 4-wheel drive. 2-wheel drive tow vehicles have better fuel economy and a higher towing capacity than 4-wheel drive tow vehicles. However, 4-wheel drive allows the vehicle to have better pull in adverse driving conditions. Based on fuel type, the market is segmented into diesel or gasoline. The tow vehicle market is segmented on the basis of vehicle type into hook and chain, flatbed, boom towing, integrated, and wheel-lift. On the basis of end-user, the market is segmented into passenger cars, light duty trucks and others. In terms of region, the tow vehicle market is divided into North America, Asia Pacific, Europe, Middle East & Africa, and South America. Furthermore, these regions are subdivided into various countries such as the U.S., Canada, U.K., Germany, France, Italy, China, India, Japan, Australia, Saudi Arabia, South Africa, and Brazil.
Some of the key players in the tow vehicle market include All City Towing, Arrow Wrecker Service, McDonalds Towing, Coletta’s Garage, Suburban Towing, Miller Industries Inc., Bradshaw Electric Vehicles, Roger Dyson Ltd 2, Towrite, Tow Truck Trader, Prime Hitech Engineering Limited, Babbar Wreckers Pvt Ltd, Jerr-Dan Corporation, and Liftmak. The key players in the market focus on safety and security of the vehicles and 24/7 customer assistance to remain competitive.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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