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The automotive winches system (AWS) market size is estimated to increase by USD 145.44 million between 2022 and 2027. The market size is forecast to grow at a CAGR of 5.31%. The growth of the market depends on several factors including the availability of affordable winches with good quality and quick installation, rising preference for pickup trucks in emerging countries, and higher payload capacity and trailer-sway control features driving demand for trailer recovery systems.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising preference for pickup trucks in emerging countries is one of the key factors driving the growth of the market. Pickup trucks are conventional models that can be used as passenger and commercial vehicles. This dynamic nature of the vehicle is made possible by the vehicle design featuring a closed passenger cabin with an open cargo area with a low tailgate and sides. The open cargo bay allows everyone to customize the vehicle to the user's needs. It can be surrounded by a larger cabin for cargo or converted into a passenger lounge.
Moreover, the pickup's powerful engine generates significant emissions; As a result, countries like China have banned the sale of pickup trucks due to their high emissions since 2005. China and India are the main emerging markets for LCVs in 2022. As a result, China lifted the ban on the sale of pickup trucks in 2016 and automakers increased their exports of pickup trucks to China. China and India are expected to drive the growth of the global market in emerging countries during the forecast period.
The development of advanced winch systems with remote control clutch systems is one of the primary trends in the market. Market players are now offering high-performance winch systems for extreme and heavy-duty applications. The global market for trailer recovery systems is currently seeing the growing adoption of fully electronically controlled winch systems. Advanced automotive electric winch systems come with high-profile gears that operate similarly to automotive gear sets, allowing them to operate efficiently in heavy-duty towing applications.
Furthermore, the integration of a wireless remote control clutch to control operations such as winch entry, exit, and free roll brings more convenience to the system. In addition, most advanced winch systems have a multi-information remote control that provides information on various systems such as vehicle battery level, winch engine temperature, and various control settings. Besides, the availability of switchable control packages allows for different mounting positions. Thus, these factors will drive the growth of the global AWS market during the forecast period.
Increasing competitive value chains leading to diminishing profit margins for suppliers is the challenge that affects the growth of the market. With the rise of electronic content in pickup trucks, automotive OEMs must partner with suppliers and experts outside the traditional auto industry to meet consumer demand. This will require changes in the operations of these OEMs. Pickup truck OEMs will also need to move towards more standardized interfaces, systems, and modules for infotainment and telecommunications installations. In addition, pickup OEMs also need to work closely not only with electronics suppliers but also with electronics OEMs.
Moreover, pickup dealers will also need to work on improving their online capabilities so that they can meet consumer demand through physical stores and online retail channels. They will also need to prioritize R&D and engineering projects so they can deliver the best value for money, differentiated features, and trucks that comply with safety and environmental regulations. Hence, these factors are expected to pose a challenge to the growth of the global AWS market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The electric winches segment is estimated to witness significant growth during the forecast period. The electric automotive winch systems have most of their applications for non-industrial purposes. The electric winch works quite well with enough traction on the tap. The winch can come with ropes or cables reinforced with steel or composites giving the user the flexibility to choose according to the application.
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The electric winches segment was the largest segment and was valued at USD 263.63 million in 2017. Electric winches are commercially available in a variety of sizes ranging from 2,000 pounds. at 30,000 lbs. These winches feature multi-stage operating hardware to increase efficiency and reduce engine stress. Players operating in the Electric segment AWS offer winch systems with a wider range of configurations and prolific designs. These factors will drive the growth of the electric automotive winch segment in the global market during the forecast period.
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North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Consumer preference for large vehicles such as high-performance pickup trucks and full-size SUVs in the US and Canada is supporting the growth of the AWS market in North America. Additionally, consumer trends toward vehicles with high ground clearance, off-road ability, and towing capacity are some additional factors driving the pickup and SUV market in North America. This drives the market.
Furthermore, North America serves as a key hub for leading automakers operating in regional and global markets. Automakers are moving their production facilities to Mexico due to low labor costs and lower operating costs. This will further increase the penetration rate of automotive electronics in the region, especially in South and Central American countries. Therefore, such factors will fuel the AWS market in North America during the forecast period.
The Market offers hydraulic and electric devices for passenger vehicles, light commercial vehicles, and heavy commercial vehicles, distributed through direct sales and distributors. End-users include ATV sports cars, off-road vehicles, and agricultural vehicles. Market dynamics reveal rising demand for economical, good quality winches, especially electric ones, catering to light commercial and passenger vehicles with features like power backup systems and precision. Major players focus on technological advancements and product innovation to meet market demands, including compact reels and customized features. Challenges include stringent regulations, carbon emissions, and legal limitations, while recent developments highlight trade regulations and value chain optimization. Trelleborg Marine and Infrastructure lead in new advancements, catering to high-performance SUVs and transportation industries amidst space constraints and maintenance needs.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Industry Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.31% |
Market growth 2023-2027 |
USD 145.44 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.75 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 43% |
Key countries |
US, Canada, China, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aeroklas Asia Pacific Group, American Wheel and Tire 2 Ltd., BHW Group Ltd., Dover Corp., Ingersoll Rand Inc., Ironman 4X4 Pty Ltd., MacArtney AS, Mile Marker Industries, Naust Marine ehf., Pierce Arrow Inc., Ramsey Industries, Red Winches Ltd., Robert Bosch GmbH, Smittybilt Inc., Stemmler Winches, Superwinch, T Max Products Pty Ltd., Trelleborg AB, Westin Automotive Inc., and Winches Inc. |
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, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Vehicle Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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