Automotive Tow Bars Market to Grow at a CAGR of 3.6% to reach US$ 5,236.76 Million from 2020 to 2027

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Automotive Tow Bars Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product (Detachable Tow bar, Retractable Tow bar, Fixed Tow bar, and Others); Vehicle type (Passenger Vehicle and Commercial Vehicle)

Publication Month: Jun 2020 | Report Code: TIPRE00008801 | No. of Pages: 191 | Category: Automotive and Transportation | Status: Published

The automotive tow bars market was valued at US$ 4,827.66 million in 2019 and is projected to reach US$ 5,236.76 million by 2027; it is expected to grow at a CAGR of 3.6% from 2019 to 2027.

In the past few years, the increase in automotive production, particularly in the advanced regions, including North America and Europe, has driven the growth of the automotive tow bars market. The tow bar for automobiles is available as a standard filament or as an additional feature with most premium passenger car models launched by automotive giants such as Audi, Range Rover, BMW, and Ford Motor Company. The rapid growth of automotive production in advanced economies around the globe has contributed directly to the rising demand for the tow bar market in the automotive sector. For instance, electric vehicles and hybrid electric vehicles are gaining traction on the market. Sustainable development and subsequent demand for green cars have led to the emergence of electric vehicles and other renewable energy sources, including solar, wind, and biofuels. Moreover, the use of these vehicles is further encouraged by several government initiatives such as the payment of incentives and tax benefits to green vehicle adopters and users of green vehicles. Thus, the rapidly increasing adoption rates of electric and hybrid vehicles will drive the automotive tow bar market during the forecast period.

North America accounts for the largest share of the global automotive tow bars market. The growth of this market is primarily attributed to increasing popularity of RVs in the US and Canada. Increasing sales of passenger vehicles, is the major factor driving the automotive tow bars market in North America.

Impact of COVID-19 Pandemic on Automotive tow bars Market

The US is the worst-hit country in North America region, with around 2,007,531 active cases. Increasing number of infected individuals has forced the government to impose lockdown across the nation’s borders. The majority of the manufacturing plants are shut down, municipalities are functioning slowly compared to the past, and the automotive industry is at a halt, which is negatively impacting the automotive tow bars market. In terms of patient count and death toll, Canada and Mexico are still at a nascent stage in comparison to the US. However, the manufacturing plants, automotive industry, and several other businesses are functioning slowly, which is negatively impacting the automotive tow bars market. Additionally, North America is responsible for a major portion of sales of automotive tow bars, and declining sales of tow bars in North America might affect the overall growth of the automotive tow bars industry. The COVID-19 outbreak will have a limited short-term impact on the automotive tow bars market.

Lucrative Regions for Automotive Tow Bars Market

Lucrative Regions for Automotive Tow Bars Market

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Market Insights

Tow Bars Serve as an Optimum Towing Equipment

Tow bars are often deployed in the automotive sector as superior towing equipment mainly because of the advantages of their application. Towing couples two or more objects together so that they can be pulled by a designated power source or source. The source for towing may be a motorized land vehicle, a vessel and the load is anything that can be pulled. These may be joined with the help of chain, bar, hitch, three-point, fifth wheel, rope, coupling, integrated platform, drawbar, or other means of keeping the objects together while in motion. Trailer operators, SUVs, and flat-bed pickup trucks use tow bars as they can be easily mounted on vehicles' rear bumper with the minimal installation time and labor requirements. Additionally, tow bars for automobiles are compact in shape and light in weight, which adds to their value proposition. Also, the availability of several types of tow bars on the market helps cater to the customers 'evolving needs while meeting the automotive manufacturers' tailor-made requirements.

Product Market Insights

Based on product, the automotive tow bars market has been segmented into detachable tow bar, retractable tow bar, fixed tow bar, and others. The detachable tow bar segment accounted for the largest share of the market in 2019, and is expected to grow at the highest CAGR during the forecast period. Detachable tow bars are also called as the removable tow bars; it has become a popular choice with drivers. It also comes with a swan neck or flange type towballs. Most of these are tend to be of the swan neck variety though one can get detachable mounting flanges for flange type towballs. They use a lockable quick-release mechanism, which enables the towball to be simply detached and reattached without using any tools. Several caravan users are choosing the detachable tow bar, where the towball can be readily removed without the use of additional tools.

Automotive Tow Bars Market, by Product – 2019 and 2027

Automotive Tow Bars Market, by Product – 2019 and 2027

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Vehicle Type- Market Insights

With the growing demand for adventure sports and increasing demand for towable recreational vehicles, the demand for tow bars is growing across the passenger vehicle segment. Moreover, companies operating in the market are focusing on offering a wide range of towbars option for passenger vehicles of various brands. Additionally, passenger vehicle manufacturers such as Audi and BMW offer an option of company fitted tow bars to their customers. Moreover, the demand for passenger vehicles is growing, which is expected to support the increasing demand for tow bars across the passenger vehicles segment.

Strategic Insights

Report Coverage - Automotive Tow Bars Market
Report CoverageDetails
Market Size Value inUS$ 4,827.66 Million in 2019
Market Size Value byUS$ 5,236.76 Million by 2027
Growth rateCAGR of 3.6% from 2020-2027
Forecast Period2020-2027
Base Year2020
No. of Pages191
No. of Tables62
No. of Charts & Figures71
Historical data availableYes
Segments coveredProduct ; Vehicle type
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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Inorganic growth strategies are the commonly adopted strategies by companies to expand their market reach. Curt Manufacturing, Bosal Group, and Brink Group are among the market players implementing this strategy to enlarge the customer base and gain significant market share globally, which in turn permits them maintain their brand name in the global market.

Automotive Tow Bars Market–Segmentation:


Automotive Tow Bars Market–By Product

  • Retractable Tow bar
  • Fixed System
  • Detachable System
  • Others


Automotive Tow Bars Market–By Vehicle Type

  • Passenger Vehicle
  • Commercial Vehicle


Automotive Tow Bars Market–Company Profiles

  • Anker and York Towbars
  • Bosal Group
  • Brink Group
  • BTA Towing Equipment
  • CURT Manufacturing LLC
  • Oris
  • PCT Automotive Limited
  • Alois Kober GmbH
  • North Shore Towbars
  • GDW NV.

Frequently Asked Questions

Detachable tow bar segment led the automotive tow bar segment in 2019. Detachable tow bars are also called as the removable tow bars; it has become a popular choice with drivers. It also comes with a swan neck or flange type tow balls. Most of these tend to be of the swan neck variety though one can get detachable mounting flanges for flange type tow balls. They use a lockable quick-release mechanism, which enables the tow ball to be simply detached and reattached without using any tools. Several caravan users are choosing the detachable tow bar, where the tow ball can be readily removed without the use of additional tools. Numerous manufacturers of detachable tow bars are present in the market, which includes Brink, Witter, MVG, GDW Group, and many more.
In the past few years, the increase in automotive production, particularly in the advanced regions, including North America and Europe, has driven the growth of the automotive tow bars market. The tow bar for automobiles is available as a standard filament or as an additional feature with most premium passenger car models launched by automotive giants such as Audi, Range Rover, BMW, and Ford Motor Company. The rapid growth of automotive production in advanced economies around the globe has contributed directly to the rising demand for the tow bar market in the automotive sector.
The automotive tow bars market was dominated by North America, as companies in the region are highly integrating tow bars with the vehicles. For instance, Tesla, a US-based electric vehicle company, is planning to have a tow bar for its upcoming Tesla Model Y. Its Model Y would come with a dedicated towing mode, such as its Model X. The tow bar for Tesla's Model X comprises a 2-inch hitch receiver, which would able to tow up to 5,000lb on 20-inch wheels, or 3,500lb on 22-inch wheels. Hence, this factor is surging the demand for automotive tow bars in the region.

The List of Companies - Automotive Tow Bars Market

  1. Alois Kober GMBH
  2. Anker and York Towbars
  3. BOSAL Group
  4. Brink Group
  5. BTA Towing Equipment
  6. CURT Manufacturing LLC
  7. GDW NV
  8. North Shore Towbars
  9. ORIS
  10. PCT Automotive Limited
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global automotive tow bars market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global automotive tow bars market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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