Press release
2025 Tow Bar Industry Trends Report: Long-Term Outlook Through 2034
Tow Bar Market
How Large Will the Tow Bar Market Size By 2025?
The market size of the tow bar has seen robust growth in the past few years. The projections suggest an increase from $6.12 billion in 2024 to $6.5 billion in 2025, citing a compound annual growth rate (CAGR) of 6.1%. The growth in the past years is due to factors such as increased demand for recreational vehicles, amplified need for commercial and passenger cars, rising disposable income, growth in the desire for luxury automobiles, and a heightened preference for adventure activities.
How Big Is the Tow Bar Market Size Expected to Grow by 2029?
In the coming years, the tow bar market is anticipated to witness robust growth, reaching $8.15 billion in 2029 with a compound annual growth rate (CAGR) of 5.8%. Factors contributing to this growth in the predicted period include strict safety regulations, an increase in adventure tourism, growing usage of caravans and motorhomes, a rise in demand for off-road activities, and governmental initiatives. Significant trends predicted for this period involve the uptake of retractable and detachable tow bars, innovations in manufacturing processes, progress in electric tow bars, automated and motorized tow bar systems, and enhancements in materials.
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Which Key Market Drivers Powering Tow Bar Market Expansion and Growth?
The tow bar market is anticipated to surge ahead, propelled by the increasing demand for recreational vehicles. These large specialty vehicles, designed to provide comfort for mobile living and camping trips, are desirable for those who value outdoor activities and enjoy the flexibility of working remotely. They allow individuals to travel affordably and securely. The essential role of a tow bar, which allows these recreational vehicles (RVs) to haul additional cars or trailers, boosts the travel adaptability and storage potential. For example, a report from the US-based national trade association, the Recreation Vehicle Industry Association (RVIA), in January 2022, stated that there was a 16.0% increase in total RV deliveries year-on-year, reaching 53,290 units compared to 45,930 units the year before. Consequently, the growing demand for recreational vehicles propels the advancement of the tow bar market.
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Which Fast-Growing Trends Are Poised to Disrupt the Tow Bar Market?
Leading firms in the tow bar market are pioneering the creation of towbar-fitted tents to increase their product's adaptability and practicality. An inventive towbar-affixed tent is a portable accommodation that can be effortlessly mounted on a car's tow bar, offering a handy and mobile shelter for outdoor adventurers. For example, in May 2024, Thule Group, a company based in Sweden that specializes in sports and outdoor products, introduced the Thule Outset. This unique towbar-connected tent establishes a fresh benchmark in outdoor living. The Thule Outset features a simple and swift assembly process on a car's towbar, only needing one individual for setup. The roomy and cozy interior, coupled with sweeping views, delivers the opulence of a home setting. The design leverages the company's design acumen, focusing on intelligent attributes to present an appealing, easy-to-use substitute for conventional tents and camping arrangements.
What Are the Emerging Segments in the Tow Bar Market?
The tow bar market covered in this report is segmented -
1) By Product: Retractable Automotive Towbars, Detachable Automotive Towbars, Fixed Automotive Towbars, Automotive Towing Brackets And Ball Plates
2) By Vehicle Type: Passenger Cars, Mid-sized Passenger Cars, Premium Passenger Cars, Luxury Passenger Cars, Sports Utility Vehicles (SUVs), Light Commercial Vehicles, Heavy Commercial Vehicles
3) By Sales Channel: Original Equipment Manufacturer, Original Equipment Supplier, Independent Aftermarket
4) By End-Use: Aviation, Automotive, Towing and Recovery, Other End Uses
Subsegments:
1) By Retractable Automotive Towbars: Manual Retractable Towbars, Electric Retractable Towbars
2) By Detachable Automotive Towbars: Horizontal Detachable Towbars, Vertical Detachable Towbars
3) By Fixed Automotive Towbars: Flange Ball Towbars, Swan Neck Towbars
4) By Automotive Towing Brackets And Ball Plates: Standard Towing Brackets, Adjustable Towing Brackets, Heavy-Duty Towing Brackets
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Who Are the Global Leaders in the Tow Bar Market?
Major companies operating in the tow bar market are Lippert Components, Thule Group, Trimas Corporation, AL-KO Vehicle Technology, Horizon Global Corporation, Curt Manufacturing, DexKo Global Inc., B&W Trailer Hitches, Bosal Towbars, Roadmaster Inc., Draw-Tite, Demco Products, Westfalia-Automotive GmbH, Witter Towbars, Acps Automotive GmbH, Blue Ox, Towsure Products Ltd., Hayman Reese, Tow-Trust Towbars, PCT Automotive Ltd., Anderson Hitches, Rameder Anhängerkupplungen und Autoteile GmbH, Carasel Towbars, Gen-Y Hitch, Towbar Express
Which are the Top Profitable Regional Markets for the Tow Bar Industry?
Europe was the largest region in the tow bar market in 2024. The regions covered in the tow bar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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