Automotive TowBar Market Overview:
The
crucial reason behind the growth of the market is Customisation. This market
works as per the customers demand, here manufacturers are in a close
coordination with the clients, as per that they design the Tow bars.
The
estimated market size of this Automotive tow bar
market
Size is $5.59 Billion by 2032. During the
forecasted period 2023-2032 it is termed to register a CAGR growth rate of
4.39%. This is because of an increase in the demand for adventure and use of
caravans and motorhomes. To be more precise, A tow bar is a device used to tow
attached to a vehicle's chassis. It may take the shape of a tow ball to allow
the trailer to pivot and move, a tow pin, or a tow hook with a trailer loop.
For large or agricultural vehicles, where slack in the pivot pin permits
similar motions, the tow bar is frequently.
With
respect to the, Covid-19 just like other industries, the Automotive industry is
badly impacted, due to the decrease in the demand. The experts & Research
analysts are further deep driving the market. As per their words, the market
would recover in the upcoming year. Due to an increase in the disposable income
& demand in the vehicles.
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Key players
The
major companies of this Automotive Tow Bar Market are form US, Ireland,
Germany, Netherlands, Australia, New zealand & UK.
·
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)
Regional analysis
The
Automotive Tow Bar
Market Size, is majorly dominated by 5 specific reasons that is, North
America, Europe, Asia Pacific, South America, & the Middle East and Africa.
Out
of these, North America, holds the largest market share, then Followed by
Europe & Asia Pacific. The reason behind North America domination is
because of the presence of the Numerous manufacturing hubs. In addition to
this, there's also a rise in the sale of commercial vehicles &
passenger cars. These Tow bars are specifically used by passenger cars,
light commercial vehicles, and heavy commercial vehicles.
Market Segmentation
The
market segmentation for this Automotive Tow Bar has been broadly done into 3
segments. Segmentation based on Product Type, Sales type & Vehicle type.
On
the basis of product type, market is segmented into Fixed, Detachable &
Swivelling. Out of this, Detachable segment is expected to be more fruitful in
the projected period. Based on Sales type, it has been segmented into Oem &
Aftermarket. Lastly, on the basis of Vehicle type, it has been further
subdivided into Passenger Cars, Lcv & Hcv.
What is a car tow bar?
A car
towbar is a device that is attached to the back
of a car and allows it to tow another vehicle or trailer. Tow bars are
typically made of steel or aluminum and come in a variety of sizes and weight
capacities.
Tow bars are typically used to tow trailers,
campers, boats, and other types of recreational vehicles. They can also be used
to tow disabled vehicles.
There are two main types of tow bars:
·
Bumper mount tow
bars: Bumper mount tow bars are attached to the bumper of the car. They
are the most common type of tow bar and are relatively easy to install.
·
Frame mount tow
bars: Frame mount tow bars are attached to the frame of the car. They are
more expensive and difficult to install than bumper mount tow bars, but they
are also stronger and more durable.
When choosing a tow bar, it is important to
consider the following factors:
It is also important to make sure that the tow bar
is compatible with your car. You can check your car's owner's manual to see if
there are any specific requirements for tow bars.
Once you have chosen a tow bar, you will need to
install it on your car. This can be done by yourself or by a professional. If
you are installing the tow bar yourself, be sure to follow the instructions
carefully.
Once the tow bar is installed, you will need to
connect it to the vehicle or trailer you are towing. This can be done using a
ball mount, trailer hitch, or electrical connector.
When towing a vehicle or trailer, it is important
to follow the manufacturer's instructions. Be sure to overload the tow bar or
vehicle. Also, be sure to drive slowly and carefully.
How much does it cost to fit a tow bar
electrics?
The cost to fit tow bar electrics can vary
depending on a number of factors, including:
·
The type of tow bar
you have
·
The make and model of
your vehicle
·
Whether you have any
special requirements, such as a reversing camera or fog light cutout
MARKET
SEGMENTATION
By Product Type
Fixed
Detachable
Swiveling
By Vehicle Type
Passenger Cars
LCV
HCV
By Sales Channel
OEM
Aftermarket
BY REGION
North America
Europe
Asia Pacific
Middle East & Africa
South America
FACTORS
STUDIED FOR MARKET FORECAST
Drivers:
Growing demand for commercial and
passenger vehicles.
Restraints:
growing demand for automotive tow bars.
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