Towing equipment includes devices and accessories fitted on a vehicle for the purpose of attaching a camper, trailer, etc. Towing equipment includes fifth wheels, hitches, gooseneck hitches, and wiring harnesses for drawbars, weight distribution systems, crossbars, tow sling, tow dollies, ball mounts, towbars, and other towing accessories such as chains, straps, hitch locks, hitch covers, hitch aligners, hitch adapters, fifth-wheel hitch adapters, and anti-rattles.
The rising growth of e-commerce industry and the subsequent increase in delivery services is one of the key drivers witnessed in the market during the predicted period. The increasing number of delivery orders and the rising number of courier delivery agencies will boost the sales volume of commercial vehicles that are required to transport goods. This in turn, will fuel the adoption of towing equipment in the e-commerce industry. The delivery service providers are encouraged to purchase light commercial vehicles (LCVs) due to the increasing number of delivery orders. The purchase of LCVs enables them to meet the rising requirement for parcel delivery. This in turn, will boost the demand for towing equipment within LCVs and medium and heavy commercial vehicles (MHCVs) during the forecast period.
One of the key trends that gaining traction in the global towing equipment market during the projected period is the growth of online capabilities. The global automotive aftermarket and retail channels are positively influenced by the increasing popularity of the e-commerce sector. Towing equipment manufacturers are highly benefited by the establishment of a strong online presence which improves the market penetration of several vendors.
The Americas accounted for the maximum shares during 2017 due to the growth in the automotive market in emerging economies across the region. This in turn, is expected to boost the sales of commercial vehicles and increases the demand for towing equipment in the region. The suppliers of towing equipment are encouraged to carry out manufacturing operation in countries such as China and India due to the low cost of production and the availability of skilled and unskilled labor.
In 2019, the market size of Towing Equipment is xx million US$ and it will reach xx million US$ in 2025, growing at a CAGR of xx% from 2019; while in China, the market size is valued at xx million US$ and will increase to xx million US$ in 2025, with a CAGR of xx% during forecast period.
In this report, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Towing Equipment.
This report studies the global market size of Towing Equipment, especially focuses on the key regions like United States, European Union, China, and other regions (Japan, Korea, India and Southeast Asia).
This study presents the Towing Equipment production, revenue, market share and growth rate for each key company, and also covers the breakdown data (production, consumption, revenue and market share) by regions, type and applications. history breakdown data from 2014 to 2019, and forecast to 2025.
For top companies in United States, European Union and China, this report investigates and analyzes the production, value, price, market share and growth rate for the top manufacturers, key data from 2014 to 2019.
In global market, the following companies are covered:
BOSAL
Brink
CURT Manufacturing
Horizon Global
...
Market Segment by Product Type
Belt Towing Equipment
Crawler Towing Equipment
Market Segment by Application
Architecture
Transport
Others
Key Regions split in this report: breakdown data for each region.
United States
China
European Union
Rest of World (Japan, Korea, India and Southeast Asia)
The study objectives are:
To analyze and research the Towing Equipment status and future forecast in United States, European Union and China, involving sales, value (revenue), growth rate (CAGR), market share, historical and forecast.
To present the key Towing Equipment manufacturers, presenting the sales, revenue, market share, and recent development for key players.
To split the breakdown data by regions, type, companies and applications
To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends, drivers, influence factors in global and regions
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
In this study, the years considered to estimate the market size of Towing Equipment are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
Summary:
Get latest Market Research Reports on Towing Equipment. Industry analysis & Market Report on Towing Equipment is a syndicated market report, published as Global (United States, European Union and China) Towing Equipment Market Research Report 2019-2025. It is complete Research Study and Industry Analysis of Towing Equipment market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.