Towing equipment market: Driven by increasing demand for commercial vehicles due to globalization - Technavio

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Jan 31, 2023, 20:45 ET

NEW YORK, Jan. 31, 2023 /PRNewswire/ -- The towing equipment market size is forecast to increase by USD 2120.68 million from 2022 to 2027, at a CAGR of 4.6%, according to the recent market study by Technavio. The growth of the market will be driven by the increasing motorization in emerging countries, progressing requirement of commercial vehicles for road mode of freight transport, and the increasing demand for commercial vehicles due to globalization. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Technavio has announced its latest market research report titled Global Towing Equipment Market 2023-2027

Technavio has extensively analyzed 15 major vendors, including Andersen Manufacturing Inc., B&W Trailer Hitches, Bosal Nederland BV, Brink Group BV, Butler Products, Camco Manufacturing Inc., CURT Manufacturing LLC, Dethmers Manufacturing Co., Fastway Trailer Products, Hopkins Manufacturing Corp., Horizon Global 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.

To get detailed insights about the vendor landscape, buy the report

Key Benefits for Industry Players & Stakeholders –

The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
The report also provides a qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Customer Landscape - Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio

One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.
Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
Furthermore, market adoption rates for all regions have been covered.

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The market is segmented by application (passenger cars and commercial vehicles), product type (boom, hook and chain, wheel lift, integrated, and flatbed), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

Segmentation by application (Inclusion/Exclusion)

The market growth in the passenger cars segment will be significant during the forecast period. The segment includes sedans, hatchbacks, sports utility vehicles (SUVs), crossovers, multi-purpose vehicles (MPVs), and passenger vans. The demand for these vehicles is increasing with improvements in the economy and decreasing unemployment rates. This is one of the key factors driving the growth of the segment. Besides, OEMs are increasing the production of towing equipment for SUVs and crossovers to meet the rising sales of SUVs.

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What are the key data covered in this towing equipment market report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the towing equipment market between 2023 and 2027
Precise estimation of the size of the towing equipment market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the towing equipment market industry across APAC, Europe, North America, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of towing equipment market vendors

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Towing Equipment Market Scope
Report Coverage	Details
Page number	162
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 4.6%
Market growth 2023-2027	USD 2120.68 million
Market structure	Fragmented
YoY growth 2022-2023 (%)	4.12
Regional analysis	APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution	APAC at 39%
Key countries	US, China, Japan, Germany, and France
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Andersen Manufacturing Inc., B and W Trailer Hitches, Bosal Nederland BV, Brink Group BV, Butler Products, Camco Manufacturing Inc., CURT Manufacturing LLC, Dethmers Manufacturing Co., Fastway Trailer Products, Hopkins Manufacturing Corp., Horizon Global 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.
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, and market condition analysis for the 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.

Table of contents:

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
Exhibit 06: Executive Summary – Chart on Market Segmentation by Product Type
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global towing equipment market 2017 - 2021

Exhibit 18: Historic Market Size – Data Table on Global towing equipment market 2017 - 2021 ($ million)

4.2 Application Segment Analysis 2017 - 2021

Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

4.3 Product Type Segment Analysis 2017 - 2021

Exhibit 20: Historic Market Size – Product Type Segment 2017 - 2021 ($ million)

4.4 Geography Segment Analysis 2017 - 2021

Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

4.5 Country Segment Analysis 2017 - 2021

Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summary

Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers

Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers

Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants

Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes

Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry

Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition

Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

6.1 Market segments

Exhibit 30: Chart on Application - Market share 2022-2027 (%)
Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

6.2 Comparison by Application

Exhibit 32: Chart on Comparison by Application
Exhibit 33: Data Table on Comparison by Application

6.3 Passenger cars - Market size and forecast 2022-2027

Exhibit 34: Chart on Passenger cars - Market size and forecast 2022-2027 ($ million)
Exhibit 35: Data Table on Passenger cars - Market size and forecast 2022-2027 ($ million)
Exhibit 36: Chart on Passenger cars - Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Passenger cars - Year-over-year growth 2022-2027 (%)

6.4 Commercial vehicles - Market size and forecast 2022-2027

Exhibit 38: Chart on Commercial vehicles - Market size and forecast 2022-2027 ($ million)
Exhibit 39: Data Table on Commercial vehicles - Market size and forecast 2022-2027 ($ million)
Exhibit 40: Chart on Commercial vehicles - Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Commercial vehicles - Year-over-year growth 2022-2027 (%)

6.5 Market opportunity by Application

Exhibit 42: Market opportunity by Application ($ million)

7 Market Segmentation by Product Type

7.1 Market segments

Exhibit 43: Chart on Product Type - Market share 2022-2027 (%)
Exhibit 44: Data Table on Product Type - Market share 2022-2027 (%)

7.2 Comparison by Product Type

Exhibit 45: Chart on Comparison by Product Type
Exhibit 46: Data Table on Comparison by Product Type

7.3 Boom - Market size and forecast 2022-2027

Exhibit 47: Chart on Boom - Market size and forecast 2022-2027 ($ million)
Exhibit 48: Data Table on Boom - Market size and forecast 2022-2027 ($ million)
Exhibit 49: Chart on Boom - Year-over-year growth 2022-2027 (%)
Exhibit 50: Data Table on Boom - Year-over-year growth 2022-2027 (%)

7.4 Hook and chain - Market size and forecast 2022-2027

Exhibit 51: Chart on Hook and chain - Market size and forecast 2022-2027 ($ million)
Exhibit 52: Data Table on Hook and chain - Market size and forecast 2022-2027 ($ million)
Exhibit 53: Chart on Hook and chain - Year-over-year growth 2022-2027 (%)
Exhibit 54: Data Table on Hook and chain - Year-over-year growth 2022-2027 (%)

7.5 Wheel lift - Market size and forecast 2022-2027

Exhibit 55: Chart on Wheel lift - Market size and forecast 2022-2027 ($ million)
Exhibit 56: Data Table on Wheel lift - Market size and forecast 2022-2027 ($ million)
Exhibit 57: Chart on Wheel lift - Year-over-year growth 2022-2027 (%)
Exhibit 58: Data Table on Wheel lift - Year-over-year growth 2022-2027 (%)

7.6 Integrated - Market size and forecast 2022-2027

Exhibit 59: Chart on Integrated - Market size and forecast 2022-2027 ($ million)
Exhibit 60: Data Table on Integrated - Market size and forecast 2022-2027 ($ million)
Exhibit 61: Chart on Integrated - Year-over-year growth 2022-2027 (%)
Exhibit 62: Data Table on Integrated - Year-over-year growth 2022-2027 (%)

7.7 Flat bed - Market size and forecast 2022-2027

Exhibit 63: Chart on Flat bed - Market size and forecast 2022-2027 ($ million)
Exhibit 64: Data Table on Flat bed - Market size and forecast 2022-2027 ($ million)
Exhibit 65: Chart on Flat bed - Year-over-year growth 2022-2027 (%)
Exhibit 66: Data Table on Flat bed - Year-over-year growth 2022-2027 (%)

7.8 Market opportunity by Product Type

Exhibit 67: Market opportunity by Product Type ($ million)

8 Customer Landscape

8.1 Customer landscape overview

Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation

Exhibit 69: Chart on Market share by geography 2022-2027 (%)
Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison

Exhibit 71: Chart on Geographic comparison
Exhibit 72: Data Table on Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)

9.4 Europe - Market size and forecast 2022-2027

Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%)

9.5 North America - Market size and forecast 2022-2027

Exhibit 81: Chart on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 82: Data Table on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 83: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 84: Data Table on North America - Year-over-year growth 2022-2027 (%)

9.6 South America - Market size and forecast 2022-2027

Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)

9.7 Middle East and Africa - Market size and forecast 2022-2027

Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

9.8 US - Market size and forecast 2022-2027

Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million)
Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million)
Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)

9.9 China - Market size and forecast 2022-2027

Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ million)
Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ million)
Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)

9.10 Germany - Market size and forecast 2022-2027

Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%)

9.11 Japan - Market size and forecast 2022-2027

Exhibit 105: Chart on Japan - Market size and forecast 2022-2027 ($ million)
Exhibit 106: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
Exhibit 107: Chart on Japan - Year-over-year growth 2022-2027 (%)
Exhibit 108: Data Table on Japan - Year-over-year growth 2022-2027 (%)

9.12 France - Market size and forecast 2022-2027

Exhibit 109: Chart on France - Market size and forecast 2022-2027 ($ million)
Exhibit 110: Data Table on France - Market size and forecast 2022-2027 ($ million)
Exhibit 111: Chart on France - Year-over-year growth 2022-2027 (%)
Exhibit 112: Data Table on France - Year-over-year growth 2022-2027 (%)

9.13 Market opportunity by geography

Exhibit 113: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

Exhibit 114: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

Exhibit 115: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption

Exhibit 116: Overview on factors of disruption

11.4 Industry risks

Exhibit 117: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered

Exhibit 118: Vendors covered

12.2 Market positioning of vendors

Exhibit 119: Matrix on vendor position and classification

12.3 Andersen Manufacturing Inc.

Exhibit 120: Andersen Manufacturing Inc. - Overview
Exhibit 121: Andersen Manufacturing Inc. - Product / Service
Exhibit 122: Andersen Manufacturing Inc. - Key offerings

12.4 B and W Trailer Hitches

Exhibit 123: B and W Trailer Hitches - Overview
Exhibit 124: B and W Trailer Hitches - Product / Service
Exhibit 125: B and W Trailer Hitches - Key offerings

12.5 Bosal Nederland BV

Exhibit 126: Bosal Nederland BV - Overview
Exhibit 127: Bosal Nederland BV - Product / Service
Exhibit 128: Bosal Nederland BV - Key news
Exhibit 129: Bosal Nederland BV - Key offerings

12.6 Brink Group BV

Exhibit 130: Brink Group BV - Overview
Exhibit 131: Brink Group BV - Product / Service
Exhibit 132: Brink Group BV - Key offerings

12.7 Butler Products

Exhibit 133: Butler Products - Overview
Exhibit 134: Butler Products - Product / Service
Exhibit 135: Butler Products - Key offerings

12.8 Camco Manufacturing Inc.

Exhibit 136: Camco Manufacturing Inc. - Overview
Exhibit 137: Camco Manufacturing Inc. - Product / Service
Exhibit 138: Camco Manufacturing Inc. - Key offerings

12.9 CURT Manufacturing LLC

Exhibit 139: CURT Manufacturing LLC - Overview
Exhibit 140: CURT Manufacturing LLC - Product / Service
Exhibit 141: CURT Manufacturing LLC - Key offerings

12.10 Dethmers Manufacturing Co.

Exhibit 142: Dethmers Manufacturing Co. - Overview
Exhibit 143: Dethmers Manufacturing Co. - Product / Service
Exhibit 144: Dethmers Manufacturing Co. - Key offerings

12.11 Fastway Trailer Products

Exhibit 145: Fastway Trailer Products - Overview
Exhibit 146: Fastway Trailer Products - Product / Service
Exhibit 147: Fastway Trailer Products - Key offerings

12.12 Hopkins Manufacturing Corp.

Exhibit 148: Hopkins Manufacturing Corp. - Overview
Exhibit 149: Hopkins Manufacturing Corp. - Product / Service
Exhibit 150: Hopkins Manufacturing Corp. - Key offerings

12.13 Horizon Global Corp.

Exhibit 151: Horizon Global Corp. - Overview
Exhibit 152: Horizon Global Corp. - Business segments
Exhibit 153: Horizon Global Corp. - Key offerings
Exhibit 154: Horizon Global Corp. - Segment focus

12.14 John Bean Technologies Corp.

Exhibit 155: John Bean Technologies Corp. - Overview
Exhibit 156: John Bean Technologies Corp. - Business segments
Exhibit 157: John Bean Technologies Corp. - Key offerings
Exhibit 158: John Bean Technologies Corp. - Segment focus

12.15 Maxx Group LLC

Exhibit 159: Maxx Group LLC - Overview
Exhibit 160: Maxx Group LLC - Product / Service
Exhibit 161: Maxx Group LLC - Key offerings

12.16 Mumby Manufacturing Ltd.

Exhibit 162: Mumby Manufacturing Ltd. - Overview
Exhibit 163: Mumby Manufacturing Ltd. - Product / Service
Exhibit 164: Mumby Manufacturing Ltd. - Key offerings

12.17 Pulliam Enterprises Inc.

Exhibit 165: Pulliam Enterprises Inc. - Overview
Exhibit 166: Pulliam Enterprises Inc. - Product / Service
Exhibit 167: Pulliam Enterprises Inc. - Key offerings

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

Exhibit 168: Inclusions checklist
Exhibit 169: Exclusions checklist

13.3 Currency conversion rates for US$

Exhibit 170: Currency conversion rates for US$

13.4 Research methodology

Exhibit 171: Research methodology
Exhibit 172: Validation techniques employed for market sizing
Exhibit 173: Information sources

13.5 List of abbreviations

Exhibit 174: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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