The global automotive tow bar market size will increase from USD % during the forecast period. The objectives of this study are to define, segment, and project the size of the automotive tow bar market based on type, application, vehicle type, and region. This report provides an overview of the global automotive tow bar market with breakdown and analysis of the market based on various segments such as product types, regions and countries, applications and companies.
The global automotive tow bar market is expected to grow at a CAGR of 4.93% during the forecast period
The global automotive tow bar market is anticipated to grow at a CAGR of 4.93% during the forecast period owing to high demand from end-users. Tow bars are used for connecting automobiles with trailers, and these attachments provide a means of pulling or pushing these types of vehicles. The automotive tow bar market has been on an upward trend since 2008 due to increased awareness about its safety features, reduced price, and increased usage in developing countries such as China and India.
The market is segmented by vehicle type (passenger cars, commercial vehicles, and others), by product type (fixed tow bars, removable tow bars, and convertible tow bars), by material type (steel, aluminum, and others), by end-user (OEMs and aftermarket), and by geography
The automotive tow bar market is estimated to be worth $2.3 billion by 2020, and it is segmented into four categories - vehicle type, product type, material type and end-user. The global automotive tow bar market is dominated by steel as a material type with a market share of 62%. This trend can be attributed to its high strength and cost effectiveness for most applications.
The Asia-Pacific region is expected to be the largest market for automotive tow bars, followed by North America and Europe
In 2015, the Asia-Pacific region is expected to be the largest market for automotive tow bars, followed by North America and Europe. The primary reason for this is because of a growing awareness of automotive tow bars among car owners as well as an increase in demand from dealerships and authorized service centers.
Read Report Overview @ https://www.marketresearchfuture.com/reports/automotive-tow-bar-market-10092
The key players in the market are:
- Curt Manufacturing LLC (US)
- David Murphy Towing (Ireland)
- Trimas corporation (US)
- Acps automotive GmbH (Germany)
- Horizon global corporation(US)
- Brink group B.V. (Netherlands)
- Hayman Reese (Australia)
- Mccabe Towbars (Ireland)
- North Shore Towbars (New Zealand)
- PCT Automotive Limited (UK)
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