According to the report, increasing focus on sustainable solutions, advanced technology, and cost-effective tow bars is contributing to the build-up of automotive tow bar market by the end of 2029. Increasing demand for towing caravans and unpowered trailers around the globe will also continue to provide a fillip to the sales of automotive tow bar in 2019 and beyond.
Read Report Summary: https://www.factmr.com/report/151/automotive-tow-bars-market
Retractable tow bar is used in passenger vehicles due to its advantages of a stronger and safer solution, for instance, tongue weight, the weight with which the trailer presses down on the vehicle’s tow. In addition, this type of automotive tow bar is entirely invisible in almost every car and has features of dismounting stores in different locations. As of now, retractable tow bars have more demand with ~ 43% of market share around the globe.
According to Fact.MR report, the market share for independent aftermarket (IAM) was ~ 35% in 2018, and it will reach to ~ 37% over the forecast period. The demand for automotive tow bars used in compact passenger cars is higher than the mid-sized passenger cars. Nowadays, Sports Utility Vehicles (SUV’s) are more in demand due to rapidly changing choices among youngsters around the globe. The automotive tow bar market is also gaining traction with the increasing demand for SUVs, as it is expected to grow at a CAGR of ~ 3.5 % over the forecast period.
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Historically rising income levels across the globe have driven vehicle sales. Despite the enthusiasm, traditional automakers around the globe are shifting their preferences towards newer technologies. Car manufacturers are making more investments in developing countries such as India and China due to massive traffic densities. Automotive tow bar prominent players are also expanding their business in APEJ countries to go with the trends and innovate cost-effective products. In the current scenario, the sale of automotive tow bar in APEJ region is less than North America and Europe. In the coming years, the APEJ automotive tow bar market is expected to gain momentum with a CAGR of about ~ 3.7%. The factor behind the fast growth in the region is due to an increase in demand for towed trailers and the consumer mindset towards purchasing premium and luxury vehicles.
North America is foreseen to witness an incremental opportunity of ~ US$ 519 Mn along with Europe to the tune of ~ US$ 582 Mn during the forecast period. The European region is having a large number of key players in automotive tow bar market. In secondary research, it has been found that around 25% of vehicles across Europe have tow bar fitted but this trend is more common in countries such as Benelux and Scandinavia. In Sweden, about 2.2 million out of 4.3 million cars (just over 50%) have the automotive tow bar. In the UK, the automotive tow bar market is gaining traction due to its caravanning culture and market share for caravans is about 72% as compared to camper vans and motorhomes.
For a broader and insightful view of the competition landscape, request for the Sample report: https://www.factmr.com/connectus/sample?flag=S&rep_id=151
According to the report, the automotive tow bar manufacturers are also focusing on the implementation of new and advanced technology which offers more safety features in the product that would not only help in integrating automotive tow bar sales but also bolster the revenue of companies in developing economies.
About Us
Fact.MR’s methodology is robust and comprehensive. We employ a range of tools and assets to develop an all-encompassing coverage of a range of industries. We compile data points at local, country, regional, and global level – our approach to capturing the finest nuances, without losing sight of the bigger picture helps us in developing accurate and reliable forecasts and estimates.
Fact.MR has a standard set of guidelines and standards that help maintain a level of consistency across all of our research offerings. The standardization includes step-by-step documentation of the methodologies and guidelines on the sources that are to be used for incorporation of objective and accurate data.
The standardization also involves use of industry-wide analytical tools, and rigorous quality checks to validate market forecasts and sizes. Our unwavering focus on standardization ensures that clients receive the same quality of research and analysis that Fact.MR is known for.
Contact Us
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
E: info@factmr.com
Read the Blog: http://www.thecloudtribune.com
Read Report Summary: https://www.factmr.com/report/151/automotive-tow-bars-market
Retractable tow bar is used in passenger vehicles due to its advantages of a stronger and safer solution, for instance, tongue weight, the weight with which the trailer presses down on the vehicle’s tow. In addition, this type of automotive tow bar is entirely invisible in almost every car and has features of dismounting stores in different locations. As of now, retractable tow bars have more demand with ~ 43% of market share around the globe.
According to Fact.MR report, the market share for independent aftermarket (IAM) was ~ 35% in 2018, and it will reach to ~ 37% over the forecast period. The demand for automotive tow bars used in compact passenger cars is higher than the mid-sized passenger cars. Nowadays, Sports Utility Vehicles (SUV’s) are more in demand due to rapidly changing choices among youngsters around the globe. The automotive tow bar market is also gaining traction with the increasing demand for SUVs, as it is expected to grow at a CAGR of ~ 3.5 % over the forecast period.
Request for Report Methodology: https://www.factmr.com/connectus/sample?flag=RM&rep_id=151
Historically rising income levels across the globe have driven vehicle sales. Despite the enthusiasm, traditional automakers around the globe are shifting their preferences towards newer technologies. Car manufacturers are making more investments in developing countries such as India and China due to massive traffic densities. Automotive tow bar prominent players are also expanding their business in APEJ countries to go with the trends and innovate cost-effective products. In the current scenario, the sale of automotive tow bar in APEJ region is less than North America and Europe. In the coming years, the APEJ automotive tow bar market is expected to gain momentum with a CAGR of about ~ 3.7%. The factor behind the fast growth in the region is due to an increase in demand for towed trailers and the consumer mindset towards purchasing premium and luxury vehicles.
North America is foreseen to witness an incremental opportunity of ~ US$ 519 Mn along with Europe to the tune of ~ US$ 582 Mn during the forecast period. The European region is having a large number of key players in automotive tow bar market. In secondary research, it has been found that around 25% of vehicles across Europe have tow bar fitted but this trend is more common in countries such as Benelux and Scandinavia. In Sweden, about 2.2 million out of 4.3 million cars (just over 50%) have the automotive tow bar. In the UK, the automotive tow bar market is gaining traction due to its caravanning culture and market share for caravans is about 72% as compared to camper vans and motorhomes.
For a broader and insightful view of the competition landscape, request for the Sample report: https://www.factmr.com/connectus/sample?flag=S&rep_id=151
According to the report, the automotive tow bar manufacturers are also focusing on the implementation of new and advanced technology which offers more safety features in the product that would not only help in integrating automotive tow bar sales but also bolster the revenue of companies in developing economies.
About Us
Fact.MR’s methodology is robust and comprehensive. We employ a range of tools and assets to develop an all-encompassing coverage of a range of industries. We compile data points at local, country, regional, and global level – our approach to capturing the finest nuances, without losing sight of the bigger picture helps us in developing accurate and reliable forecasts and estimates.
Fact.MR has a standard set of guidelines and standards that help maintain a level of consistency across all of our research offerings. The standardization includes step-by-step documentation of the methodologies and guidelines on the sources that are to be used for incorporation of objective and accurate data.
The standardization also involves use of industry-wide analytical tools, and rigorous quality checks to validate market forecasts and sizes. Our unwavering focus on standardization ensures that clients receive the same quality of research and analysis that Fact.MR is known for.
Contact Us
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
E: info@factmr.com
Read the Blog: http://www.thecloudtribune.com
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