Automotive Tow Bar
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.
Get Free Sample Report of Automotive Tow Bar Market
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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