Electric Tow-bar Market Introduction

Electric tow-bar is mounted at the rear end of vehicles to tow other vehicles and attachments. Moreover, electric tow-bars are mounted on sports utility vehicles and light commercial vehicles, as they have higher power output as compared to sedans and hatchbacks.

Electric Tow-bar Market - Competitive Landscape

In 2017, BOSAL Group, a leading manufacturer of tow bars, announced selling of its business group ACPS, responsible for tow-bar division, to TowerBrook Capital Partners, which operates under the name ORIS-ACPS.

ORIS

Founded in 1955, ORIS is a key player in the global electric tow-bar market. The company is a major OE supplier of electric tow-bar and tow-bar and is also a key player in the aftermarket. The company has developed numerous types of tow-bar solutions and has more than 150 patents. Moreover, the company also manufactures bicycle carriers and roof bars.

TriMotive

Trimotive is a subsidiary of the Horizon Global group of companies. TriMotive supplies towing, occupant safety, and structural and chassis components to OEMs. The company has presence across the globe including North America, Europe, Asia Pacific, and Africa.

PCT Automotive

Founded in 1926, PCT Automotive is a major manufacturer and distributor of tow-bars and automotive components. The company manufactures fixed, detachable, and swan neck type of tow-bars.

Planning to lay down future strategy? Perfect your plan with our Report Brochure here

Electric Tow-bar Market Dynamics

Rising preference for utility vehicles and off-road vehicles

The global market for electric tow-bars is likely to expand at a moderate pace during the forecast period, due to rising preference for sports utility vehicles and off-road vehicles, which ultimately prompts manufacturers to increase the production of the aforementioned vehicle segments. Rising trend of off-road trips among youngsters is a key factor boosting the electric tow-bar market. Electric tow-bars are extensively utilized in airport support vehicles in order to tow aircraft and other ground support vehicles. Penetration of electric tow-bar is rising, owing to increasing preference for vehicles with automatic components. Furthermore, the electric tow-bar can be operated by a switch and hence, the popularity of the electric tow-bar is rising at a significant pace.

Increased demand for electric and hybrid vehicles

Lucrative incentive schemes and other non-monetary benefits, such as special lane and free parking, is driving the adoption of electric vehicles. The electric vehicles, such as Tesla, are fitted with electric tow-bars. Rise in consumer awareness is driving the sales of electric vehicles, which in turn is estimated to boost the demand for electric tow-bars.

Rise in sales of premium vehicles

Premium vehicles such as BMW, Jaguar Land Rover, and Porsche have adopted electric tow-bars. Rising sales of such vehicles, owing to increased consumer spending, is expected to drive the electric tow-bar market

Looking for exclusive market insights from business experts? Request a Custom Report here

Electric Tow-bar Market Segmentation

Based on number of pin type, the electric tow-bar market can be segmented into

  • 7 Pin electrics
  • Twin 7 Pin electrics
  • Single 13 Pin electrics

Based on vehicle type, the electric tow-bar market can be segregated into

  • Passenger Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Electric Tow Bar Market

Pre Book