What is Automotive Tow Bars Market?
More than 50% of the automotive tow bars sales come from North America and Europe. The US, being the worst affected country by COVID-19, has resulted in the shutdown of automotive plants and situation in the EU still remains critical and has faced a production loss of more than 1.5 million vehicles, which has directly impeded the sales of automotive tow bars.
The market study is being classified by Type (Retractable Tow Bars, Detachable Tow Bars, Fixed Tow Bars and Towing Brackets), by Application (Compact Passenger Cars, Luxury Passenger Cars, Sports Utility Vehicle (SUV), Light Commercial Vehicles and Heavy Commercial Vehicles) and major geographies with country level break-up.
Curt manufacturing LLC (United States), David Murphy Towing (Ireland), Parkside Towbars (Trimas corporation) (Australia), Acps automotive GmbH (Germany), Horizon global corporation (United States), Brink group B.V. (Netherlands), Hayman Reese (Australia), Mccabe Towbars (Ireland), North Shore Towbars (New Zealand) and PCT Automotive Limited (United Kingdom) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Anker and York Towbars (United Kingdom), Bosal Group (Belgium), BTA Towing Equipment (Australia) and Alois Kober GmbH (Germany).
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period.
Analyst at AMA have segmented the market study of Global Automotive Tow Bars market by Type, Application and Region.
On the basis of geography, the market of Automotive Tow Bars has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing disposable income of various developing countries, together with a high demand for adventure and use of caravans and motorhomes
- The economic growth of North America has positively impacted the sale of commercial vehicles and passenger cars
- The presence of prominent automotive manufacturers and component manufacturers is propelling the automotive tow bars market value
- COVID-19 outbreak has created multiple challenges for the automotive industry
Key Target AudienceAutomotive Tow Bars Manufacturers, Automotive Tow Bars Raw material suppliers, Automobile Enterprises, Research Institutes, Suppliers and Distributors and Government Associations
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Automotive Tow Bars Market?
"Growing disposable income of various developing countries, together with a high demand for adventure and use of caravans and motorhomes" is seen as one of major growth factors of Automotive Tow Bars Market in years to come.
2. Can we have customized study for Automotive Tow Bars Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Automotive Tow Bars Market?
will lead Automotive Tow Bars Market in coming years.