Market Overview:
The global towing equipment market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The belt tow equipment segment is expected to dominate the market in terms of revenue share, followed by crawler tow equipment, during the forecast period. The architecture segment is projected to be the fastest-growing application segment in terms of revenue growth during the forecast period. North America accounted for majority share of global towed vehicles market in 2017 and it is projected that this region will continue its dominance throughout the forecast period owing to presence of developed countries such as U.S., Canada and Mexico coupled with increasing demand for transportation services across these countries.
Product Definition:
Towing equipment is used to tow a trailer or another vehicle. The importance of towing equipment varies depending on the situation. In some cases, it may be necessary for safety reasons, while in others it may be simply for convenience.
Belt Towing Equipment:
Belt Towing Equipment is used to connect a tow vehicle to an object such as a truck, trailer or car. It consists of two heavy-duty chains with hooks at the end and two sprocket wheels at the other end for connecting the chains to drive any vehicle. The belt in this equipment is made up of steel plates that are wound around a driven pulley wheel and attached to another pulley wheel by means of tension rods.
Crawler Towing Equipment:
Crawler towing equipment is used in the towing of vehicles that have become disabled on railway tracks, roadways or waterways. The crawler consists of a hydraulic arm and chain attached to a tow bar. It is lowered from the operator's cab and then raised towards the vehicle being towed. Once contact has been made, an alarm is given and traffic controllers direct both vehicles until the operation is completed successfully.
Application Insights:
The others application segment includes construction, mining and quarrying, agriculture and forestry. The demand for towing equipment in the agriculture sector is anticipated to witness growth owing to the increasing mechanization of agricultural activities coupled with a rise in disposable income levels among farmers across various regions. Furthermore, governments across countries are taking initiatives such as ¢â‚¬Å“Make In India¢â‚¬ which is expected to boost industry expansion over the coming years.
The transport application segment accounted for more than 40% of market share in 2017 and is projected to expand at a CAGR exceeding 5% from 2018 to 2030 due primarily heavy investments by government agencies such as BAAG (Bundesagentur für Arbeitsschutz und Gesundheitsschutz) along with other regulatory bodies into improving road safety standards resulting into higher adoption of these products among commercial vehicles especially trucks on long haul routes.
Regional Analysis:
The Asia Pacific dominated the global towing equipment market in 2017. The region is expected to witness significant growth over the forecast period owing to increasing construction activities and growing automotive industry in countries such as China, India, Japan, South Korea and Taiwan. In addition, rising number of ports with increasing trade activities are anticipated to drive the demand for heavy machinery including tow trucks in this region.
Europe was estimated as second-largest regional market after Asia Pacific by IBEF Inc., a research firm that tracks Tow Trucks and related equipment sales worldwide. Europe is characterized by presence of prominent manufacturers such as Daimler AG; ZF Friedrichshafen AG; Autoliv Ltd.; Magna International Inc.; Bendix King GMBH & Co., KG; SsangYong Motor Company Ltd.; Setra SIF GmbH & Co.
Growth Factors:
- Increasing demand for towing equipment from the automotive and transportation sector
- Growing infrastructure development in emerging countries
- Rising demand for towing equipment from the construction and mining sectors
- Technological advancements in towing equipment products
- Increasing awareness about safety while towing
Scope Of The Report
Report Attributes
Report Details
Report Title
Towing Equipment Market Research Report
By Type
Belt Towing Equipment, Crawler Towing Equipment
By Application
Architecture, Transport, Others
By Companies
Danco Products, Brink Group, CURT Manufacturing, Demco, Horizon Global, BA Products, ...
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
249
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Towing Equipment Market Report Segments:
The global Towing Equipment market is segmented on the basis of:
Types
Belt Towing Equipment, Crawler Towing Equipment
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
Architecture, Transport, 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:
- Danco Products
- Brink Group
- CURT Manufacturing
- Demco
- Horizon Global
- BA Products
- ...
Highlights of The Towing Equipment 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:
- Belt Towing Equipment
- Crawler Towing Equipment
- By Application:
- Architecture
- Transport
- 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 Towing Equipment 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?
Towing equipment is a vehicle or machine that is used to tow another vehicle.
Some of the key players operating in the towing equipment market are Danco Products, Brink Group, CURT Manufacturing, Demco, Horizon Global, BA Products.
The towing equipment market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Towing Equipment 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. Towing Equipment Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Towing Equipment Market - Supply Chain
4.5. Global Towing Equipment Market Forecast
4.5.1. Towing Equipment Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Towing Equipment Market Size (000 Units) and Y-o-Y Growth
4.5.3. Towing Equipment Market Absolute $ Opportunity
5. Global Towing Equipment 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. Towing Equipment Market Size and Volume Forecast by Type
5.3.1. Belt Towing Equipment
5.3.2. Crawler Towing Equipment
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Towing Equipment 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. Towing Equipment Market Size and Volume Forecast by Application
6.3.1. Architecture
6.3.2. Transport
6.3.3. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Towing Equipment 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. Towing Equipment 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 Towing Equipment 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. Towing Equipment 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 Towing Equipment Demand Share Forecast, 2019-2029
9. North America Towing Equipment 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 Towing Equipment 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 Towing Equipment Market Size and Volume Forecast by Application
9.4.1. Architecture
9.4.2. Transport
9.4.3. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Towing Equipment Market Size and Volume Forecast by Type
9.7.1. Belt Towing Equipment
9.7.2. Crawler Towing Equipment
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 Towing Equipment Demand Share Forecast, 2019-2029
10. Latin America Towing Equipment 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 Towing Equipment 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 Towing Equipment Market Size and Volume Forecast by Application
10.4.1. Architecture
10.4.2. Transport
10.4.3. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Towing Equipment Market Size and Volume Forecast by Type
10.7.1. Belt Towing Equipment
10.7.2. Crawler Towing Equipment
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 Towing Equipment Demand Share Forecast, 2019-2029
11. Europe Towing Equipment 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 Towing Equipment 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 Towing Equipment Market Size and Volume Forecast by Application
11.4.1. Architecture
11.4.2. Transport
11.4.3. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Towing Equipment Market Size and Volume Forecast by Type
11.7.1. Belt Towing Equipment
11.7.2. Crawler Towing Equipment
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections 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 Towing Equipment Demand Share, 2019-2029
12. Asia Pacific Towing Equipment 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 Towing Equipment 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 Towing Equipment Market Size and Volume Forecast by Application
12.4.1. Architecture
12.4.2. Transport
12.4.3. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Towing Equipment Market Size and Volume Forecast by Type
12.7.1. Belt Towing Equipment
12.7.2. Crawler Towing Equipment
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 Towing Equipment Demand Share, 2019-2029
13. Middle East & Africa Towing Equipment 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 Towing Equipment 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 Towing Equipment Market Size and Volume Forecast by Application
13.4.1. Architecture
13.4.2. Transport
13.4.3. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Towing Equipment Market Size and Volume Forecast by Type
13.7.1. Belt Towing Equipment
13.7.2. Crawler Towing Equipment
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 Towing Equipment Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Towing Equipment Market: Market Share Analysis
14.2. Towing Equipment Distributors and Customers
14.3. Towing Equipment Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Danco Products
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Brink Group
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. CURT Manufacturing
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Demco
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Horizon Global
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. BA Products
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. ...
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
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
