North America 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
The North America automotive tow barsmarket was valued at US$ 1,538.99million in 2019 and is projected to reach US$ 1,710.55million by 2027; it is expected to grow at a CAGR of 3.9% from 2020 to 2027.
The US, Canada, and Mexico are major economies in North America. Technological advancements have led to a highly competitive market in the region as the increasing populations attract several technological developments due to high spending powers. The region has one of the largest automotive manufacturing hubs in the globe. The presence of prominent automotive manufacturers and component manufacturers is propelling the automotive tow bars market value.
The growing sales of passenger cars and commercial vehicles are raising the demand for automotive tow bars. In 2019, the production of passenger cars and commercial vehicles were 16,783,398 units. A foremost opportunity in the North America automotive tow bars market is the use of light-weight materials in order to design tow bars, which would reduce the weight of vehicles and enhance fuel efficiency. Several technological advancements in material science have resulted in a boom in the automotive tow bars market. The developments have allowed the manufacturers to use polymers or metals with higher tensile strengths, which could substantially enhance the functionality of the tow bar and its operational life. The major factor propelling the growth of the automotive tow bars market is the swift development in the manufacturing techniques of tow bars and their materials.
The coronavirus pandemic has had a rapid and severe impact on the North America automotive industry. Symptoms include the closure of assembly plants across the region. Due to this pandemic, the production of passenger and commercial vehicles has stopped, which has affected the market revenues of several manufacturers in the region. The closure of assembly plants has also impacted on the manufacturing of tow bars, which is reflecting negative impact on automotive tow bars market. However, the impact of COVID-19 is short-term; in the next three or four years, the automotive tow bars market is likely to grow at a swift pace.
Mexico Automotive Tow Bars Market Revenue and Forecasts to 2027 (US$ Million)
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North America Automotive Tow Bars Market–Segmentation
North America Automotive Tow Bars Market,by Product
- Detachable Tow Bars
- Retractable Tow Bars
- Fixed Tow Bars
- Others
North America Automotive Tow BarsMarket,by Vehicle Type
- Passenger Vehicles
- Commercial Vehicle
North America Automotive Tow BarsMarket,by Country
- US
- Canada
- Mexico
North America Automotive Tow Bars Market -Companies Mentioned
- BOSAL Group
- Brink Group
- CURT Manufacturing LLC
- ORIS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Automotive Tow Bars Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Automotive Tow Bars Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increased Automotive Production
5.1.2 Tow Bars Serve As An Optimum Towing Equipment
5.2 Market Restraints
5.2.1 High Cost Of Automotive Tow Bars
5.3 Market Opportunities
5.3.1 Growth of E-Commerce Industry
5.4 Future Trends
5.4.1 Integration Of Swivelling Mechanism With The Conventional Tow Bars
5.5 Impact Analysis of Drivers and Restraints
6. Automotive Tow Bars Market – North America Analysis
6.1 Automotive Tow Bars Market North America Overview
6.2 Automotive Tow Bars Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Five Key Players
7. Automotive Tow Bars Market Analysis – By Product
7.1 Overview
7.2 Automotive Tow Bars Market Breakdown, by Product, 2019 & 2027
7.3 Retractable Tow Bar
7.3.1 Overview
7.3.2 Retractable Tow Bar: Automotive Tow Bars Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Fixed System
7.4.1 Overview
7.4.2 Fixed System: Automotive Tow Bars Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Detachable System
7.5.1 Overview
7.5.2 Detachable System: Automotive Tow Bars Market – Revenue and Forecast to 2027 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Automotive Tow Bars Market – Revenue and Forecast to 2027 (US$ Million)
8. Automotive Tow bars Market Analysis – By Vehicle Type
8.1 Overview
8.2 Automotive Tow Bars Market , By Vehicle Type (2019 and 2027)
8.3 Passenger Vehicle
8.3.1 Overview
8.3.2 Passenger Vehicle: Automotive Tow Bars Market – Revenue Forecast to 2027 (US$ Million)
8.4 Commercial Vehicle
8.4.1 Overview
8.4.2 Commercial Vehicle: Automotive Tow Bars Market – Revenue Forecast to 2027 (US$ Million)
9. Automotive Tow Bars Market – Country Analysis
9.1 Overview
9.2 Automotive Tow Bars Market, By Country (2019 and 2027)
9.2.1 North America: Automotive Tow Bars Market, by Key Country
9.2.1.1 US: Automotive Tow Bars Market – Revenue and Forecast to 2027 (US$ Million)
9.2.1.1.1 US: Automotive Tow Bars Market, by Product
9.2.1.1.2 US: Automotive Tow Bars Market, by Vehicle Type
9.2.1.2 Canada: Automotive Tow Bars Market – Revenue and Forecast to 2027 (US$ Million)
9.2.1.2.1 Canada: Automotive Tow Bars Market, by Product
9.2.1.2.2 Canada: Automotive Tow Bars Market, by Vehicle Type
9.2.1.3 Mexico: Automotive Tow Bars Market – Revenue and Forecast to 2027 (US$ Million)
9.2.1.3.1 Mexico: Automotive Tow Bars Market, by Product
9.2.1.3.2 Mexico: Automotive Tow Bars Market, by Vehicle Type
9.3 Impact of Coronavirus Outbreak
9.3.1 North America: Impact Assessment of COVID-19 Pandemic
10. Industry Landscape
10.1 Market Initiative
11. Company Profiles
11.1 BOSAL Group
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Brink Group
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 CURT Manufacturing LLC
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 ORIS
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. Automotive Tow Bars Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. North America: Automotive Tow Bars Market, by Country – Revenue and Forecast to 2027 (US$ Million)
Table 3. US: Automotive Tow Bars Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 4. US: Automotive Tow Bars Market, by Vehicle Type –Revenue and Forecast to 2027 (US$ Million)
Table 5. Canada: Automotive Tow Bars Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 6. Canada: Automotive Tow Bars Market, by Vehicle Type –Revenue and Forecast to 2027 (US$ Million)
Table 7. Mexico: Automotive Tow Bars Market, by Product –Revenue and Forecast to 2027 (US$ Million)
Table 8. Mexico: Automotive Tow Bars Market, by Vehicle Type –Revenue and Forecast to 2027 (US$ Million)
Table 9. List of Abbreviation
LIST OF FIGURES
Figure 1. Automotive Tow Bars Market Segmentation
Figure 2. Automotive Tow Bars Market Segmentation – By Country
Figure 3. North America Automotive Tow Bars Market Overview
Figure 4. Detachable Tow Bar Segment Held the Largest Market Share
Figure 5. Passenger Vehicle Type Segment Held the Largest Market Share
Figure 6. North America – PEST Analysis
Figure 7. Expert Opinion
Figure 8. Automotive Tow Bars Market Impact Analysis of Drivers and Restraints
Figure 9. North America Overview of Automotive Tow Bars Market
Figure 10. Automotive Tow Bars Market – Revenue and Forecast to 2027 (US$ Million)
Figure 11. Automotive Tow Bars Market Breakdown, by Product (2019 and 2027)
Figure 12. Retractable Tow Bar: Automotive Tow Bars Market – Revenue and Forecast To 2027(US$ Million)
Figure 13. Fixed System: Automotive Tow Bars Market – Revenue and Forecast To 2027(US$ Million)
Figure 14. Detachable System: Automotive Tow Bars Market – Revenue and Forecast To 2027(US$ Million)
Figure 15. Others: Automotive Tow Bars Market – Revenue and Forecast To 2027(US$ Million)
Figure 16. Automotive Tow Bars Market Revenue Share, by Vehicle Type (2019 and 2027)
Figure 17. Passenger Vehicle: Automotive Tow Bars Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 18. Commercial Vehicle: Automotive Tow Bars Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 19. North America: Automotive Tow Bars Market Revenue Share, By Key Country (2019 and 2027)
Figure 20. US: Automotive Tow Bars Market – Revenue And Forecast To 2027 (US$ Million)
Figure 21. Canada: Automotive Tow Bars Market – Revenue And Forecast To 2027 (US$ Million)
Figure 22. Mexico: Automotive Tow Bars Market – Revenue And Forecast To 2027 (US$ Million)
Figure 23. Impact of COVID-19 Pandemic in North American Country Markets
The List of Companies - North America Automotive Tow Bars Market
- BOSAL Group
- Brink Group
- CURT Manufacturing LLC
- ORIS
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America automotive tow barsmarket.
- 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 North America automotive tow barsmarket, 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 North America 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.