Global Tow Vehicle Market Overview:
Towing is the process of linking two or more vehicles so that they can be pushed by a single power source. To hold the vehicles together when in motion, they are linked by a rope, chain, bar, hitch, integrated platform, or other means. A tow truck is a vehicle that is used to transport disabled, illegally parked, impounded, or otherwise stranded vehicles. In the towing vehicle market, there are three types of trailers: small trailers, 18-wheel trailers, and large "big rig" trailers. Cars or small trucks are hitched to small trailers (minivans, SUVs). Large ‘big rig' trailers may require a specialised vehicle, such as a military truck, farm tractor, and tank. 18 wheel trailers are built to be towed in a rig and are a tractor trailer mix, while large ‘big rig' trailers may require a specialised vehicle, such as a military truck, farm tractor, and tank. Towing capability refers to the maximum weight of a trailer that a vehicle will pull, and it is usually expressed in pounds or kilogrammes. Braked towing capacity and unbraked towing capacity are the two major types of towing capacity. Braked towing capability refers to the amount of weight a vehicle can tow when the trailer brakes are engaged. The towing capacity of a braked vehicle is substantially higher than that of an unbraked vehicle. In the coming years, the tow vehicle market is expected to rise steadily.
- The Logistics and Transportation Industry Is Increasing At A Significant Rate
- Growing Number of Warehouses, Distribution Centers Etc.
- Rising Trade of Industrial and Commercial Products
- Upsurge the Demand for Transportation and Storage Facilities
- High Maintenance Cost Associated with Towing Vehicle
- Growing Automation Of Storage Facilities And Warehouses Is Rising At A Significant Rate In Emerging Countries
- High Initial Investment of Tow Vehicle
Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings.
Some of the key players profiled in the report are Arrow Wrecker Service (United States), McDonald's Towing (United States), Coletta’s Garage (United States), Bradshaw Electric Vehicles (United Kingdom), Jungheinrich AG (Germany), Toyota Material Handling (Sweden), Polaris Industries, Inc. (United States), Hyster-Yale Group, Inc. (United States), Motrec International Inc. (Canada) and The Raymond Corporation (United States). Additionally, following companies can also be profiled that are part of our coverage like Roger Dyson Ltd 2, Towrite, Tow Truck Trader, Prime Hitech Engineering Limited, Babbar Wreckers Pvt Ltd, Jerr-Dan Corporation and Liftmak. Analyst at AMA Research see United States Vendors to retain maximum share of Global Tow Vehicle market by 2026. Considering Market by Load Capacity, the sub-segment i.e. Light-duty Tow Tractors will boost the Tow Vehicle market. Considering Market by Power Source, the sub-segment i.e. Electric will boost the Tow Vehicle market.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Tow Vehicle market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Tow Vehicle market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufactures, Suppliers and Distributors, Raw Material Suppliers, Government Regulatory Bodies, Government and Private Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.