Market Overview:
The global tow truck market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for tow trucks from various end-use industries, such as machine building, metallurgical, furniture, appliance and others. In terms of type, the light-duty tow truck segment is expected to dominate the global market during the forecast period owing to its low cost and easy maneuverability.
Product Definition:
A tow truck is a vehicle that is used to tow or pull another vehicle. The importance of tow trucks is that they can help to move vehicles that are not able to move on their own.
Light-Duty Tow Trucks:
Light-Duty Tow Trucks (LDTT) are a type of tow truck that is used to haul away light vehicles such as cars, mini trucks, and recreational vehicles. LDTTs are equipped with hydraulic rams for pushing or lifting the disabled vehicle. The growing demand for towing services in developed countries like U.S.
Medium-Duty Tow Trucks:
Medium-duty tow trucks are designed to carry up to 10,000 pounds and they are commonly used for small-scale residential or commercial moves. They have a low set of wheels that is generally between 6.5 inches and 8.5 inches tall, which makes them an ideal option for the job of moving furniture or other light loads around the house or business premises.
Application Insights:
The machine building industry was the largest application segment in 2017 and is expected to continue its dominance over the forecast period. The growth of this industry can be attributed to increasing demand for heavy-duty trucks, which are used for moving large machines from one place to another. In addition, these vehicles are used in construction sites and industrial areas for moving heavy equipment such as earthmoving machinery or concrete mixers.
In terms of revenue, the automotive sector is likely to witness a CAGR of XX% from 2018 to 2030 owing majorly on account of rising sales across various regions including Asia Pacific and North America. Tow trucks play an important role in automobile accidents by providing assistance during breakdowns or emergencies that occur due to car failures or other reasons beyond control of drivers/passengers.
Regional Analysis:
North America dominated the global tow truck market in 2017. The region is expected to witness a growth rate of 4.6% over the forecast period, owing to increasing demand for heavy-duty tow trucks from industries, such as mining and construction. In addition, rising number of accidents in North America are leading to an increase in demand for heavy-duty tow trucks that can be used for accident recovery or road debris removal purposes.
Asia Pacific is anticipated to register significant growth over the forecast period owing to growing machine building industry and metallurgical industry across countries such as China, India, Japan and South Korea among others.
Growth Factors:
- Increasing demand for towing and roadside assistance services due to increasing number of vehicles on the road.
- Rising number of accidents and breakdowns requiring towing services.
- Growing popularity of tow truck services among consumers as a cost-effective alternative to traditional car repair shops or dealerships for vehicle servicing and repairs.
- Proliferation of online platforms that connect consumers with tow truck operators, providing greater convenience and transparency in the pricing of tow truck services.
Scope Of The Report
Report Attributes
Report Details
Report Title
Tow Truck Market Research Report
By Type
Light-Duty Tow Trucks, Medium-Duty Tow Trucks, Heavy-Duty Tow Trucks
By Application
Machine Building Industry, Metallurgical Industry, Furniture Industry, Appliance Industry, Others
By Companies
A & A Truck and Auto Center, Inc.(AATAC), B&B Industries Inc., Carlinville Truck Equipment, Danco Products, Dual-Tech, Dynamic, Godwin, Jerr-Dan, Kilar, Ledwell & Son, Miller, NRC Industries, United Recovery Industries, Valew, Weld
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
233
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Tow Truck Market Report Segments:
The global Tow Truck market is segmented on the basis of:
Types
Light-Duty Tow Trucks, Medium-Duty Tow Trucks, Heavy-Duty Tow Trucks
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Machine Building Industry, Metallurgical Industry, Furniture Industry, Appliance Industry, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- A & A Truck and Auto Center, Inc.(AATAC)
- B&B Industries Inc.
- Carlinville Truck Equipment
- Danco Products
- Dual-Tech
- Dynamic
- Godwin
- Jerr-Dan
- Kilar
- Ledwell & Son
- Miller
- NRC Industries
- United Recovery Industries
- Valew
- Weld
Highlights of The Tow Truck Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Light-Duty Tow Trucks
- Medium-Duty Tow Trucks
- Heavy-Duty Tow Trucks
- By Application:
- Machine Building Industry
- Metallurgical Industry
- Furniture Industry
- Appliance Industry
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Tow Truck Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A tow truck is a vehicle used to move heavy objects.
Some of the key players operating in the tow truck market are A & A Truck and Auto Center, Inc.(AATAC), B&B Industries Inc., Carlinville Truck Equipment, Danco Products, Dual-Tech, Dynamic, Godwin, Jerr-Dan, Kilar, Ledwell & Son, Miller, NRC Industries, United Recovery Industries, Valew, Weld.
The tow truck market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Tow Truck Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Tow Truck Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Tow Truck Market - Supply Chain
4.5. Global Tow Truck Market Forecast
4.5.1. Tow Truck Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Tow Truck Market Size (000 Units) and Y-o-Y Growth
4.5.3. Tow Truck Market Absolute $ Opportunity
5. Global Tow Truck Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Tow Truck Market Size and Volume Forecast by Type
5.3.1. Light-Duty Tow Trucks
5.3.2. Medium-Duty Tow Trucks
5.3.3. Heavy-Duty Tow Trucks
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Tow Truck Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Tow Truck Market Size and Volume Forecast by Application
6.3.1. Machine Building Industry
6.3.2. Metallurgical Industry
6.3.3. Furniture Industry
6.3.4. Appliance Industry
6.3.5. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Tow Truck Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Tow Truck Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Tow Truck Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Tow Truck Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Tow Truck Demand Share Forecast, 2019-2026
9. North America Tow Truck Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Tow Truck Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Tow Truck Market Size and Volume Forecast by Application
9.4.1. Machine Building Industry
9.4.2. Metallurgical Industry
9.4.3. Furniture Industry
9.4.4. Appliance Industry
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Tow Truck Market Size and Volume Forecast by Type
9.7.1. Light-Duty Tow Trucks
9.7.2. Medium-Duty Tow Trucks
9.7.3. Heavy-Duty Tow Trucks
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Tow Truck Demand Share Forecast, 2019-2026
10. Latin America Tow Truck Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Tow Truck Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Tow Truck Market Size and Volume Forecast by Application
10.4.1. Machine Building Industry
10.4.2. Metallurgical Industry
10.4.3. Furniture Industry
10.4.4. Appliance Industry
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Tow Truck Market Size and Volume Forecast by Type
10.7.1. Light-Duty Tow Trucks
10.7.2. Medium-Duty Tow Trucks
10.7.3. Heavy-Duty Tow Trucks
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Tow Truck Demand Share Forecast, 2019-2026
11. Europe Tow Truck Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Tow Truck Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Tow Truck Market Size and Volume Forecast by Application
11.4.1. Machine Building Industry
11.4.2. Metallurgical Industry
11.4.3. Furniture Industry
11.4.4. Appliance Industry
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Tow Truck Market Size and Volume Forecast by Type
11.7.1. Light-Duty Tow Trucks
11.7.2. Medium-Duty Tow Trucks
11.7.3. Heavy-Duty Tow Trucks
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Proections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Tow Truck Demand Share, 2019-2026
12. Asia Pacific Tow Truck Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Tow Truck Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Tow Truck Market Size and Volume Forecast by Application
12.4.1. Machine Building Industry
12.4.2. Metallurgical Industry
12.4.3. Furniture Industry
12.4.4. Appliance Industry
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Tow Truck Market Size and Volume Forecast by Type
12.7.1. Light-Duty Tow Trucks
12.7.2. Medium-Duty Tow Trucks
12.7.3. Heavy-Duty Tow Trucks
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Tow Truck Demand Share, 2019-2026
13. Middle East & Africa Tow Truck Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Tow Truck Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Tow Truck Market Size and Volume Forecast by Application
13.4.1. Machine Building Industry
13.4.2. Metallurgical Industry
13.4.3. Furniture Industry
13.4.4. Appliance Industry
13.4.5. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Tow Truck Market Size and Volume Forecast by Type
13.7.1. Light-Duty Tow Trucks
13.7.2. Medium-Duty Tow Trucks
13.7.3. Heavy-Duty Tow Trucks
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Tow Truck Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Tow Truck Market: Market Share Analysis
14.2. Tow Truck Distributors and Customers
14.3. Tow Truck Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. A & A Truck and Auto Center, Inc.(AATAC)
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. B&B Industries Inc.
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Carlinville Truck Equipment
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Danco Products
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Dual-Tech
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Dynamic
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Godwin
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Jerr-Dan
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Kilar
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Ledwell & Son
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Miller
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. NRC Industries
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. United Recovery Industries
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Valew
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Weld
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
