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.
The Towing Equipment market was valued at xx Million US$ in 2018 and is projected to reach xx Million US$ by 2025, at a CAGR of xx% during the forecast period. In this study, 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 presents the worldwide Towing Equipment market size (value, production and consumption), splits the breakdown (data status 2014-2019 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
The following manufacturers are covered in this report:
Towing Equipment Breakdown Data by Type
Belt Towing Equipment
Crawler Towing Equipment
Towing Equipment Breakdown Data by Application
Towing Equipment Production by Region
Towing Equipment Consumption by Region
Rest of Europe
Central & South America
Rest of South America
Middle East & Africa
Rest of Middle East & Africa
The study objectives are:
To analyze and research the global Towing Equipment status and future forecast，involving, production, revenue, consumption, historical and forecast.
To present the key Towing Equipment manufacturers, production, revenue, market share, and recent development.
To split the breakdown data by regions, type, manufacturers 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 :
History Year: 2014 - 2018
Base Year: 2018
Estimated Year: 2019
Forecast Year: 2019 - 2025
This report includes the estimation of market size for value (million USD) and volume (K Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Towing Equipment market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.