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Automotive Tow Bars Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

  • Published: Sep 2022
  • Pages: 129
  • SKU: IRTNTR43783
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According to the research report, the automotive tow bars market will witness a growth of 4.05 % at a CAGR of 4.15% which is expected to increase by USD 1.21 billion.

This automotive tow bars market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automotive tow bars market segmentations by type (non-retractable and retractable) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The automotive tow bars market report also offers information on several market vendors, including A1 Towing Ltd., ACPS Automotive GmbH, AL KO SE, Anker Towbars Ltd., Bosal Nederland BV, BTA Towing Equipment, CURT Manufacturing LLC, David Murphy Towing, GDW NV, Hayman Reese, Horizon Global Corp, LKQ Specialty Products Group, McCabe Towbars, North Shore Towbars, PCT Automotive Ltd, Pulliam Enterprises Inc, ROADMASTER Inc, SUN AUTOMOBILE Co Ltd, Tow-Trust Towbars Ltd., and Weigh Safe among others.

What will the Automotive Tow Bars Market Size be During the Forecast Period?

Automotive Tow Bars Market Size

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Automotive Tow Bars Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The tow bars serving as optimum towing equipment is notably driving the automotive tow bars market growth, although factors such as the slowdown in automobile sales worldwide may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive tow bars market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Automotive Tow Bars Market Driver

Tow bars that serve as optimum towing equipment is a major driver fueling the automotive tow bars market growth. The global automotive tow bars market is primarily driven by the application advantages of tow bars, which make them superior towing equipment. Automotive tow bars are one of the most commonly available towing equipment in the aftermarket for towing applications. Tow bars are mostly used by operators of trailers, flat-bed pickup trucks, and SUVs as these vehicles usually have higher pulling power. As towing equipment, tow bars can be attached easily to the rear bumper of vehicles with minimal installation time and labor requirements. There are various types of tow bars available in the market, which cater to the needs of different segments of customers. The tow bars differ in terms of price, quality, and operating mechanism. For instance, a user opting for a cost-effective and convenient way of towing (for towing small carriages) has the option of purchasing a non-retractable tow bar. On the other hand, for a user looking for a flexible, high-quality tow bar with higher towing capacity, retractable tow bars with flanges will be ideal. Moreover, automotive tow bars are compact in shape and light in weight, which adds to their value proposition. Such factors are driving the growth of the market.

Key Automotive Tow Bars Market Trend

The use of environment-friendly coating on tow bars is a major trend influencing the automotive tow bars market growth. Manufacturers are using environment-friendly coatings on automotive tow bars as part of their contribution to environmental sustainability. Such measures undertaken by manufacturers of automotive tow bars are expected to act as market drivers during the forecast period. Vendors operating in the market are working on different methods to increase the value proposition of automotive tow bars. For instance, some of the vendors are using specialty chemicals and polymers to serve as a coating on automotive tow bars. Such coatings not only increase the reliability and corrosion resistance of automotive tow bars but also minimize the impact on the environment. This is because these coatings minimize the wear and tear of the outer surface of tow bars, which can otherwise pollute the environment. Of all the coatings, epoxy-based primers are considered one of the most effective environment-friendly coatings. In addition, the growing use of lightweight vehicle technologies is driving the use of high-strength thermal plastics, including polycarbonates, which are light in weight and provide superior resistance to corrosion. The growing use of such coatings is expected to drive the growth of the market in focus during the forecast period.

Key Automotive Tow Bars Market Challenge

Growing cost pressure on manufacturers of automotive tow bars is a major hindrance to the automotive tow bars market growth. Players operating in the automotive value chain are facing several challenges, such as the need to reduce costs while improving the quality of products. The high competition in the global automotive market and emerging consumer demands have compelled automotive OEMs to operate within strict cost parameters to remain profitable while providing improved levels of quality at similar price levels. This compels OEMs to pass on cost pressure across the value chain, including vendors and component suppliers. Manufacturers of automotive tow bars are facing high pressure to manage costs while delivering high-quality products and components. The cost pressure on component suppliers that supply raw materials to vendors operating in the market is more. This is because they need to meet stringent quality control regulations and clear tests defined by stakeholders such as tow bar manufacturers and OEMs. In addition, component suppliers have to restrict manufacturing costs to price their products competitively in the market while delivering high-quality products. This is mainly because component suppliers will be liable for product failures. In addition, tow bar manufacturers have been exploring different means to control production costs and maintain quality standards. One such option is to outsource manufacturing to low-cost countries such as China. However, the cost of labor is rising in these countries; therefore, maintaining low production costs is becoming a cause of concern.

This automotive tow bars market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global automotive tow bars market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive tow bars market during the forecast period.

Who are the Major Automotive Tow Bars Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • A1 Towing Ltd.
  • ACPS Automotive GmbH
  • AL KO SE
  • Anker Towbars Ltd.
  • Bosal Nederland BV
  • BTA Towing Equipment
  • CURT Manufacturing LLC
  • David Murphy Towing
  • GDW NV
  • Hayman Reese
  • Horizon Global Corp
  • LKQ Specialty Products Group
  • McCabe Towbars
  • North Shore Towbars
  • PCT Automotive Ltd
  • Pulliam Enterprises Inc
  • ROADMASTER Inc
  • SUN AUTOMOBILE Co Ltd
  • Tow-Trust Towbars Ltd.
  • Weigh Safe

 

This statistical study of the automotive tow bars market encompasses successful business strategies deployed by the key vendors. The automotive tow bars market is fragmented and the vendors are deploying growth strategies such as product differentiation to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The automotive tow bars market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Automotive Tow Bars Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain, and parent market of the automotive tow bars market which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Automotive Tow Bars Market?

Automotive Tow Bars Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

40% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for automotive tow bars market in North America. Market growth in this region will be faster than the growth of the market in other regions.

The increasing availability of tow bars and their accessories in the e-commerce space is one of the prime factors that will facilitate the automotive tow bars market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the Automotive Tow Bars Market?

Automotive Tow Bars Market Share

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The automotive tow bars market share growth in the non-retractable segment will be significant during the forecast period. The high sale of fixed tow bars in the aftermarket will drive the market growth through this segment in the coming years. They are also capable of carrying any tow ball mount carrier and come with options to fit various types of towing couplings and accessories. Whereas detachable swan neck tow bars offer an additional option to lock the tow bar neck with vehicles. All these factors are estimated to drive the growth of this segment during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive tow bars market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Automotive Tow Bars Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.15%

Market growth 2022-2026

$ 1.21 billion

Market structure

Fragmented

YoY growth (%)

4.05

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 40%

Key consumer countries

US, Canada, China, UK, and Germany

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

A1 Towing Ltd., ACPS Automotive GmbH, AL KO SE, Anker Towbars Ltd., Bosal Nederland BV, BTA Towing Equipment, CURT Manufacturing LLC, David Murphy Towing, GDW NV, Hayman Reese, Horizon Global Corp, LKQ Specialty Products Group, McCabe Towbars, North Shore Towbars, PCT Automotive Ltd, Pulliam Enterprises Inc, ROADMASTER Inc, SUN AUTOMOBILE Co Ltd, Tow-Trust Towbars Ltd., and Weigh Safe

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

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What are the Key Data Covered in this Automotive Tow Bars Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive automotive tow bars market growth during the next five years
  • Precise estimation of the automotive tow bars market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive tow bars industry across North America, Europe, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive tow bars market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Type

    • 5.1 Market segments
      • Exhibit 24: Chart on Type - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Type - Market share 2021-2026 (%)
    • 5.2 Comparison by Type
      • Exhibit 26: Chart on Comparison by Type
      • Exhibit 27: Data Table on Comparison by Type
    • 5.3 Non retractable - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Non retractable - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Non retractable - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Non retractable - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Non retractable - Year-over-year growth 2021-2026 (%)
    • 5.4 Retractable - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Retractable - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Retractable - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Retractable - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Retractable - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Type
      • Exhibit 36: Market opportunity by Type ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 Canada - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.11 Germany - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.12 UK - Market size and forecast 2021-2026
      • Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 A1 Towing Ltd.
              • Exhibit 89: A1 Towing Ltd. - Overview
              • Exhibit 90: A1 Towing Ltd. - Product / Service
              • Exhibit 91: A1 Towing Ltd. - Key offerings
            • 10.4 ACPS Automotive GmbH
              • Exhibit 92: ACPS Automotive GmbH - Overview
              • Exhibit 93: ACPS Automotive GmbH - Product / Service
              • Exhibit 94: ACPS Automotive GmbH - Key offerings
            • 10.5 Bosal Nederland BV
              • Exhibit 95: Bosal Nederland BV - Overview
              • Exhibit 96: Bosal Nederland BV - Product / Service
              • Exhibit 97: Bosal Nederland BV - Key news
              • Exhibit 98: Bosal Nederland BV - Key offerings
            • 10.6 David Murphy Towing
              • Exhibit 99: David Murphy Towing - Overview
              • Exhibit 100: David Murphy Towing - Product / Service
              • Exhibit 101: David Murphy Towing - Key offerings
            • 10.7 Hayman Reese
              • Exhibit 102: Hayman Reese - Overview
              • Exhibit 103: Hayman Reese - Product / Service
              • Exhibit 104: Hayman Reese - Key offerings
            • 10.8 Horizon Global Corp
              • Exhibit 105: Horizon Global Corp - Overview
              • Exhibit 106: Horizon Global Corp - Business segments
              • Exhibit 107: Horizon Global Corp - Key offerings
              • Exhibit 108: Horizon Global Corp - Segment focus
            • 10.9 LKQ Specialty Products Group
              • Exhibit 109: LKQ Specialty Products Group - Overview
              • Exhibit 110: LKQ Specialty Products Group - Product / Service
              • Exhibit 111: LKQ Specialty Products Group - Key offerings
            • 10.10 PCT Automotive Ltd
              • Exhibit 112: PCT Automotive Ltd - Overview
              • Exhibit 113: PCT Automotive Ltd - Product / Service
              • Exhibit 114: PCT Automotive Ltd - Key offerings
            • 10.11 Pulliam Enterprises Inc
              • Exhibit 115: Pulliam Enterprises Inc - Overview
              • Exhibit 116: Pulliam Enterprises Inc - Product / Service
              • Exhibit 117: Pulliam Enterprises Inc - Key offerings
            • 10.12 ROADMASTER Inc
              • Exhibit 118: ROADMASTER Inc - Overview
              • Exhibit 119: ROADMASTER Inc - Product / Service
              • Exhibit 120: ROADMASTER Inc - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 121: Inclusions checklist
                • Exhibit 122: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 123: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 124: Research methodology
                • Exhibit 125: Validation techniques employed for market sizing
                • Exhibit 126: Information sources
              • 11.5 List of abbreviations
                • Exhibit 127: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Automotive Tow Bars market growth will increase by $1213.27 million during 2022-2026.
              The automotive tow bars market is expected to grow at a CAGR of 4.15% during 2022-2026.
              Technavio has segmented the automotive tow bars market by type (non-retractable and retractable) and geographic (North America, Europe, APAC, South America, Middle East and Africa, Europe, North America, APAC, South America, and MEA).
              A1 Towing Ltd., ACPS Automotive GmbH, AL KO SE, Anker Towbars Ltd., Bosal Nederland BV, BTA Towing Equipment, CURT Manufacturing LLC, David Murphy Towing, GDW NV, Hayman Reese, Horizon Global Corp, LKQ Specialty Products Group, McCabe Towbars, North Shore Towbars, PCT Automotive Ltd, Pulliam Enterprises Inc, ROADMASTER Inc, SUN AUTOMOBILE Co Ltd, Tow-Trust Towbars Ltd., Weigh Safe are a few of the key vendors in the automotive tow bars market.
              North America will register the highest growth rate of 39.79% among the other regions. Therefore, the automotive tow bars market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the automotive tow bars market growth are:
              • Tow bars serve as an optimum towing equipment
              • Use of environment-friendly coating on tow bars
              The automotive tow bars market vendors should focus on grabbing business opportunities from the non-retractable segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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