Towbars Market Estimated to Experience a Hike in Growth during 2017– 2025

Towbars are used for towing vehicles, when an engine breakdown occurs or whenever the vehicle is not in a working condition. Towbars aid in effectively moving the broke down vehicle to the nearby service station with the help of a vehicle on to which the tow is attached. The towbars find applications in the transportation of aircrafts and other heavy vehicles as well.

The towbars are attached to chassis of the vehicles so that it gets enough pulling force and it can be dragged easily by the vehicle at a constant speed. Moreover, the attachment of two bars to the chassis also ensures that the chances of accidents or mishaps while towing the vehicle is negligible. The towbars should be designed and manufactured in such a way that it should have good tensile strength and should not deform due to the pulling force while in operation.

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Towbars are also known as tow hitches. They are designed and produced mainly in two basic types; the towbars that can be attached to the vehicles, which are to be towed by the driving vehicles and the towbars that can be attached to the driving or the towing vehicles itself. Both the types are equally beneficial and effective for towing any vehicle. However, for towing heavy bodies such as aircrafts or boats, metal towbars need to be attached to their bodies itself. There are several types of towbars such as fixed towbars, detachable towbars, swivelling systems and electric systems, which are currently available the market.

Towbars Market: Dynamics

Research and development on towbars and the materials used for its manufacturing are progressing, with an aim to develop more sophisticated towbars, which can be mounted with perfection on vehicles. Moreover, the advancement in material science and technology has enabled the manufacturers to use metals and polymers, with high tensile strength, which increases the operational life of the towbars considerably. Furthermore, novel manufacturing processes, such as additive manufacturing, have enabled manufacturers to produce complex towbars components easily within a shorter time.

Also, the market for towbars has witnessed growth as a result of the development and growth in the global automotive sector. The market comprises of rental companies that offer services to the vehicles in case of emergency situations.

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People in North America and Europe lead a high standard of living along with significant disposable incomes, this has led to a substantial rise in the number of automobiles in these regions, which signifies the demand for towbars. The consumers are readily accepting the services from rental towing companies when struck in emergency situations. The state traffic and highway agencies in almost all the countries proffer services to the consumers.

These factors are expected to act as catalysts for the growth of the global towbars market over the forecast period. Towbars, which are essential for towing the vehicles to service stations, usually possess a good replacement rate in automobiles, thus the global towbars market is expected to witness rapid growth. Developing nations such as India and China in the APAC region, which are the target markets for a majority of automobile manufacturers will play significant roles in the growth of towbars market over the forecast period.

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