The report highlights the various competitive strategies adopted by key players operating in the Towbars Market to gain market share. Company profiles include company details, market presence by segment and geography, strategic overview, SWOT analysis, and historical revenue. The report also contains details of market share analysis of key players in the market. Some of the major firms in the towbars market are BOSAL Group (Belgium), Westfalia-Automotive GmbH (Germany), STEINHOF Sp. z o.o. Sp.K. (Poland), Witter Towbars (the U.K), PCT Automotive (The U.K), Camex Automotive (Australia), North Shore Towbars (New Zealand), and McCabe Towbars (Ireland).
Towbars are also known as trailer hitchers. Towbars are used for pulling trailers, carriers, or campers for both commercial and leisure purposes. Trailers, carriers or campers are attached to the rear of a vehicle by towbars and pulled forward. Towbars are attached to the vehicle chassis. They consist of a neck with a towball at one end which helps the towbar to pull the carrier or trailer. Towbars are used when engine breakdown occurs or if a vehicle is not in working condition and needs to be pulled to the service station by another vehicle which has a towbar attached to its chassis.
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Fixed towbars are towbars which are integrated with a vehicle’s chassis and cannot be removed. They are permanently fixed to a vehicle. Fixed towbars are of two types – flange ball and bolt-on towbars. Flange ball towbars are generally used in commercial vehicles and bolt-on towbars are used in passenger vehicles. Detachable towbars are towbars which are not integrated with the vehicle’s chassis and can be removed from the chassis when the towbar is not required. Detachable towbars do not hinder the design of a vehicle. Detachable towbars are of two types: horizontally detachable towbars and vertically detachable towbars. Horizontally detachable towbars can be removed by horizontally pulling the towbar from a vehicle and vertically detachable towbars are removed by vertically pulling the towbar from a vehicle. Retractable towbars are normally hidden in a vehicle. These towbars are only visible when there is a towing requirement. Towbars are used by passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Towbars must be strong enough so that they do not disintegrate when they are used to pull trailers, carriers or campers.
The market for global towbars market is segmented into original equipment (OE) market and aftermarket. By type, the market is segmented into fixed, detachable, manual, semi-automatic, automatic, retractable and other towbars. By vehicle type, the market can be classified into passenger vehicles, light commercial vehicles, and heavy commercial vehicles.
By geography, the market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is a major towbars market. The U.S. is the largest market in this region as it is the largest automotive market in the world. Canada and Mexico are other major markets in this region. Europe is another major towbars market, led by Germany as it is the largest automotive market in Europe. The U.K, France, Italy, Spain, Sweden, Belgium and Netherlands are other major markets in this region. Asia Pacific is one of the largest global towbars market. China is the largest market in this region due to its prominent automotive market. Japan, South Korea, Australia and India are other major markets in this region. Middle East & Africa is a major towbar market with Turkey, Iran and South Africa being dominant markets in this region. Latin America is also a major towbars market, dominated by Brazil and Argentina.
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Rising sale of automotive components is anticipated to increase the demand for towbars. A major opportunity in the towbar market is the use of lightweight but high thermal strength materials such as plastics including polycarbonates to manufacture towbars which will reduce the weight of vehicle and improve fuel efficiency and reduce emission.