Automotive Tow Bars Market by Type and Geography - Forecast and Analysis 2019-2023

Automotive Tow Bars Market by Type and Geography - Forecast and Analysis 2019-2023

  • September 2019 •
  • 157 pages •
  • Report ID: 5821762 •
  • Format: PDF
Global Automotive Tow Bars Market: About this market

Automotive tow bars are a type of towing equipment that is attached to the rear of the vehicle. This automotive tow bars market analysis considers sales from retractable and non-retractable types. Our analysis also considers the sales of automotive tow bars in APAC, Europe, North America, South America, and MEA. In 2018, the non-retractable segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the high sales of fixed tow bars in the aftermarket will play a significant role in the non-retractable segment to maintain its market position. Also, our global automotive tow bars market report looks at factors such as the use of two bars serve as optimum towing equipment, growing use of towable RVs, and increasing availability of tow bars and their accessories in the e-commerce space. However, slowdown in automobile sales worldwide, growing cost pressure on manufacturers of automotive tow bars, and fluctuations in raw material prices may hamper the growth of the automotive tow bars industry over the forecast period.

Global Automotive Tow Bars Market: Overview

Tow bars serve as an optimum towing equipment

Tow bars are often deployed as superior towing equipment in the automotive sector mainly due to their application advantages. Operators of trailers, SUVs, and flat-bed pickup trucks use tow bars as they can be easily attached on the rear bumper of vehicles with minimal installation time and labor requirement. In addition, automotive tow bars are compact in shape and light in weight, which adds to their value proposition. Furthermore, the availability of several types of tow bars in the market helps to cater to the evolving needs of the customers, while meeting the tailor-made requirements of automotive manufacturers. Thus, the increasing use of tow bars as optimum towing equipment will lead to the expansion of the global automotive tow bars market at a CAGR of almost 4% during the forecast period.

Emergence of electric swiveling tow bar

Market players are introducing electrically-operated tow bars to provide operability convenience to users and enhance the functionalities of traditional tow bars. These bars can be retracted both manually and electrically and easily fitted in limited space. Vendors are optimizing packaging characteristics and minimizing the weight in terms of design and development. Such developments are expected to have a positive impact on the overall market growth.

Competitive Landscape

With the presence of several major players, the global automotive tow bars market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive tow bars manufacturers, that include Bosal International, Brink Group BV, Camex Automotive, CURT Manufacturing LLC, David Murphy Towing, GRUPA STEINHOF SPÓ?KA Z OGRANICZON? ODPOWIEDZIALNO?CI?, Horizon Global Corp., McCabe Towbars, North Shore Towbars, and PCT Automotive Ltd.

Also, the automotive tow bars market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.