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Towbars Market: Future Forecast Assessed on the basis of how the Market is Predicted to Grow

03-05-2018 12:13 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research

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Towbars Market: Future Forecast Assessed on the basis of how

Towbars are also known as trailer hitchers. Towbars are used for pulling trailers, carriers, or campers for both commercial and leisure purposes. Trailers, carriers or campers are attached to the rear of a vehicle by towbars and pulled forward. 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.

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.

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Detachable towbars are of two types: horizontally detachable towbars and vertically detachable towbars.

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.

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By geography, the 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. Asia Pacific is one of the largest global towbars market. China is the largest market in this region due to its prominent automotive market.

Rising sale of automotive components is anticipated to increase the demand for towbars. A major opportunity in the towbar market is the use of lightweight but high thermal strength materials such as plastics including polycarbonates to manufacture towbars which will reduce the weight of vehicle and improve fuel efficiency and reduce emission.

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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 market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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