Automotive Tow Bars Market Insights, Trends and Growth Examined | Key Players Covered Bosal International N.V., Westfalia Automotive GMBH, Thule Group, Dixon Bate Limited, David Murphy Towing Brackets Limited, and Brink Group B.V.

Rapid advancements in both the manufacturing techniques coupled with towbar materials have led to a boom in the automotive towbar market. Newer technologies and material science have allowed key stakeholders to use either polymers or metals with a high tensile strength that has considerably improved the operational life of automotive towbars. In addition to this, manufacturing processes such as 3D printing have allowed companies to produce extremely complex towbar components in the shortest possible timeframe. The automotive towbar market is directly linked to the growth of the automotive sector that has a bright future, particularly in under-penetrated, rapidly growing emerging economies.

Another name for an automotive towbar is a tow hitch. As the name suggests, an automotive towbar is meant to tow a vehicle that is not in a working condition or has broken down for some reason. Towbars effectively transport the broken down vehicle to the nearest service center as they attach it to another vehicle that tugs the former along.

Fact.MR has studied the automotive towbar market for a five-year period and it is anticipated to record a modest CAGR of 2.8% and grow to just over US$ 6.8 billion by end 2022.

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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.

To Know the Latest Trends in Automotive Tow Bars Market, Visit page - https://www.factmr.com/report/151/automotive-tow-bars-market

Table of Contents

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
3.1.3. Fixed Tow Bars Automotive Tow Bars Market Size and Forecast, 2012-2022
3.1.3.1. Revenue (US$ Mn) Comparison, By Region
3.1.3.2. Market Share Comparison, By Region
3.1.3.3. Y-o-Y growth Comparison, By Region
3.1.4. Towing Brackets (& Ball Plates) Automotive Tow Bars Market Size and Forecast, 2012-2022
3.1.4.1. Revenue (US$ Mn) Comparison, By Region
3.1.4.2. Market Share Comparison, By Region
3.1.4.3. Y-o-Y growth Comparison, By Region

4. Global Automotive Tow Bars Market Analysis and Forecast By Sales Channel
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