Global Towing Equipment Market 2024-2028
Technavio has been monitoring the towing equipment market and is forecast to grow by USD 2086.7 mn during 2023-2028, accelerating at a CAGR of 4.36% during the forecast period. Our report on the towing equipment market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing motorization in emerging countries, progressing requirement of commercial vehicles for road mode of freight transport, and increasing demand for commercial vehicles due to globalization.
Technavio's towing equipment market is segmented as below:
By Application
- Passenger cars
- Commercial vehicles
By Product Type
- Boom
- Hook and chain
- Wheel lift
- Integrated
- Flat bed
By Geographical Landscape
- APAC
- Europe
- North America
- South America
- Middle East and Africa
This study identifies the consolidation in the industry and distribution channels as one of the prime reasons driving the towing equipment market growth during the next few years. Also, growth of online capabilities and outsourcing of design and manufacturing of vehicle parts and systems will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the towing equipment market covers the following areas:
- Towing equipment market sizing
- Towing equipment market forecast
- Towing equipment market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading towing equipment market vendors that include Andersen Hitches, B and W Trailer Hitches, Bosal Nederland BV, Brinkgroup., Butler Products, CAMCO MANUFACTURING LLC., CURT Manufacturing LLC, Demco Products, Fastway Trailer Products, First Brands Group, Hopkins Manufacturing Corp., John Bean Technologies Corp., Maini Materials Movement Pvt. Ltd., Maxx Group LLC, Mumby Manufacturing Ltd., Pulliam Enterprises Inc., Rigid Hitch Inc., Technosys Equipments Pvt. Ltd., Winston Products LLC, and Youngs Welding Inc.. Also, the towing equipment market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
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 an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.