Asia Pacific Automotive Tow Bars Market Growth Opportunities and Forecast by 2027

Historic Data: 2017-2018 | Base Year: 2019 | Forecast Period: 2020-2027

Asia Pacific Automotive Tow Bars Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product (Detachable Tow Bar, Retractable Tow Bar, Fixed Tow Bar, and Others); Vehicle Type (Passenger Vehicle and Commercial Vehicle); and Country

Report Date : Jul 2020
Report Code : TIPRE00012168

Category : Automotive and Transportation
Status : Published

Available Report Formats :
No. of Pages : 63

Page Updated: Jul 2020

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The APAC automotive tow barsmarket was valued at US$ 999.11million in 2019 and is projected to reach US$ 1099.20million by 2027; it is expected to grow at a CAGR of 3.6% from 2020 to 2027.

The economy of the region is performing well due to numerous technological and infrastructural developments. The region has a strong automotive sector, which is supported by the growing automotive manufacturing industry in countries such as India, China, and South Korea. This factor is the key catalyzer for automotive tow bars market in the region.

In the APAC, China is the largest Asia Pacific Automotive Tow Bars market owing to its leading automotive market, also due to the growing sale of automotive components is likely to surge the demand for automotive tow bars. The adoption of advanced technologies and rising demand for using unpowered trailers and caravans would accelerate the growth of the automotive tow bar market. Furthermore, the automotive vehicles demand in APAC, together with the growing passenger cars and commercial vehicle production in China and other countries, would enable the automotive tow bar market players to increase their presence in this region.

In the region, the COVID-19 outbreak has presented several challenges for the automotive sector. China, being the worst affected country in the region by COVID-19, has resulted in the shutdown of automotive plants, and the situation still remains critical and has faced a production loss of more than millions of vehicles, which has directly hindered the sales of automotive tow bars, which is reflecting slow down in the growth of automotive tow bars market in the region.

The adoption of electric vehicles is expected to increase at a noticeable rate in the developing countries of APAC. Owing to this, automotive manufacturers in the region are putting significant efforts to build a sustainable business. The adoption of electric vehicles is expected to surge the demand for automotive tow bars, thereby driving the automotive tow bars market.

Rest of APAC Automotive Tow Bars Market Revenue and Forecasts to 2027 (US$ Million)

This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

APAC Automotive Tow Bars Market–Segmentation

APAC Automotive Tow Bars Market,by Product

Detachable Tow Bars
Retractable Tow Bars
Fixed Tow Bars
Others

APAC Automotive Tow BarsMarket,by Vehicle Type

Passenger Vehicles
Commercial Vehicle

APAC Automotive Tow BarsMarket,by Country

Australia
China
India
Japan
South Korea
Rest of APAC

APAC Automotive Tow Bars Market -Companies Mentioned

BOSAL Group
Brink Group
BT Towing Equipment
North Shore Tow Bars

Asia Pacific Automotive Tow Bars Report Scope

Report Attribute	Details
Market size in 2019	US$ 999.11 Million
Market Size by 2027	US$ 1099.20 Million
CAGR (2020 - 2027)	3.6%
Historical Data	2017-2018
Forecast period	2020-2027
Segments Covered	By Product Detachable Tow Bar Retractable Tow Bar Fixed Tow Bar By Vehicle Type Passenger Vehicle and Commercial Vehicle
Regions and Countries Covered	Asia-Pacific China India Japan Australia Rest of Asia-Pacific
Market leaders and key company profiles	BOSAL Group Brink Group BTA Towing Equipment North Shore Tow Bars

Research Manager

Naveen Chittaragi

Associate Vice President,
Market Research & Consulting

Naveen is an experienced market research and consulting professional with over 9 years of expertise across custom, syndicated, and consulting projects. Currently serving as Associate Vice President, he has successfully managed stakeholders across the project value chain and has authored over 100 research reports and 30+ consulting assignments. His work spans across industrial and government projects, contributing significantly to client success and data-driven decision-making.

Naveen holds an Engineering degree in Electronics & Communication from VTU, Karnataka, and an MBA in Marketing & Operations from Manipal University. He has been an active IEEE member for 9 years, participating in conferences, technical symposiums, and volunteering at both section and regional levels. Prior to his current role, he worked as an Associate Strategic Consultant at IndustryARC and as an Industrial Server Consultant at Hewlett Packard (HP Global).

What are the Asia Pacific Automotive Tow Bars Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Regional, Country
Industry and Competitive Landscape
Excel Dataset

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