The following companies as the key players in the global towing equipment market: BOSAL, Brink Group, CURT Manufacturing, Demco, and Horizon Global. Other Prominent Vendors in the market are: Andersen Hitches, B&W Trailer Hitches, Blue Ox, Butler Products, Buyers Products, CAMCO MANUFACTURING, Cat's Head Industries (Lynx Engineering), Denray Products, Fastway Trailer, Hopkins Manufacturing Corporation, Husky Liners, Inventive Products, MAXXHAUL TOWING PRODUCTS, Mumby Manufacturing, My Air Hitch, PopUp Hitch, Progress Mfg., PullRite, Rigid Hitch, Thule Group, Torklift International, TRIMAX LOCKS, U-Haul, Weigh Safe, Westin Automotive, and Winston Products (TowSmart).
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Towing Equipment Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.
The report also includes a discussion of the key vendors operating in this market.
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The analysts forecast global towing equipment market to grow at a CAGR of 6.13% during the period 2017-2021. One trend in the market is increase in private label brands.
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In the more mature markets like the US, there has been an uptick in store brands or private label sold by retailers and aftermarket distributors, commonly sold at a lower price point than premium brands of the same products. Nevertheless, in many cases, retailers or wholesale distributors who create private label brands still rely on established suppliers such as Horizon Global and Demco to manufacture their private label or store brand products.”
According to the report, one driver in the market is increasing motorization in emerging countries. Passenger cars occupy a major share of the towing equipment market.
Therefore, the increase in sales of passenger cars will lead to an increased demand for towing equipment units. Emerging countries, such as China and India, have a lesser penetration of motorization when compared with the developed economies of the US and Europe.
Hence, car OEMs are largely concentrating on effectively penetrating passenger car markets in emerging countries.
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Further, the report states that one challenge in the market is increasing cost of transporting freight through trucks. Rising cost of transporting freight through heavy-duty trucks poses a major challenge to the towing equipment market during the forecast period.
Increased freight transportation costs drive freight operators to constrict their purchase of new commercial vehicles, thereby affecting the towing equipment market during the forecast period. The cost for transporting freight in the Americas is increasing due to the rise in surcharges and rates like linehaul rates being increased by 2% since 2016.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
This report covers the present scenario and the growth prospects of the Global Towing equipment market for 2017-2021. To calculate the market size, the report considers new sales and retrofit market.
Key questions answered in this report
- What will the market size be in 2021 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Table of Contents
- PART 01: Executive summary
- PART 02: Scope of the report
- PART 03: Research Methodology
- PART 04: Introduction
- PART 05: Market landscape
- PART 06: Market segmentation by application
- PART 07: Geographical segmentation
- PART 08: Decision framework
- PART 09: Drivers and challenges
- PART 10: Market trends
- PART 11: Vendor landscape
- PART 12: Key vendor analysis
- PART 13: Appendix
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