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(Transportation-News.com, September 04, 2018 ) This report covers the present scenario (with the base year being 2017) and the growth prospects of global Trailer Hitch market for 2018-2023.
A Trailer Hitch (or tow bar) is a device attached to the chassis of a vehicle for towing, or a towbar to an aircraft nose gear.
Tow hitches are known as trailer hitches in North America, but the purpose of use is the same. Trailer hitches usually have two primary configurations, one is the fixed drawbar type and the other is the receiver type. The receiver type includes parts that mount to the vehicle’s frame and also consist of an opening that is rearward facing which takes cargo carriers, hitch racks, detachable ball mounts or other hitch accessories. On the other hand fixed drawbar hitches are built as one piece and consist of a hole that is integrated and these hitches are not aftermarket hitch accessories compatible.
Horizon Global Corporation is a leader of trailer hitch through acquisitions to strengthen its market position, like Horizon Global Corporation acquired Witter Towbars and Westfalia-Automotive in 2013 and 2016. Now Horizon Global Corporation has several brands to produce and sell trailer hitch in the world, like Westfalia-Automotive from Germany, TriMotive, Draw Tite and Reese from United States, Hayman Reese from Australia, Hidden Hitch from Canada while Witter Towbars from UK.
Currently the Trailer Hitch market is dominated by North America and Europe, Asia-Pacific will play a more important role in future, especially in China, Southeast Asia and India etc.
Over the next five years, this report projects that Trailer Hitch will register a 3.0% CAGR in terms of revenue, reach US$ 790 million by 2023, from US$ 660 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Trailer Hitch market by product type, application, key manufacturers and key regions.
To calculate the market size, this report considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Class I Trailer Hitch
Class II Trailer Hitch
Class III Trailer Hitch
Class IV Trailer Hitch
Class V Trailer Hitch
Segmentation by application:
Cars, SUV and ATVs
Recreational Vehicle (RV)/Motorhomes
Vans/Pickup Truck
Boat Trailers
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
Horizon Global Corporation (US)
CURT Manufacturing LLC (US)
B&W Trailer Hitches (US)
BOSAL (Belgium)
MVG (Germany)
AL-KO(Sawiko) (Germany)
Brink Group (Netherlands)
Tow-Trust Towbars Ltd (UK)
GDW Group (Belgium)
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Trailer Hitch consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Trailer Hitch market by identifying its various subsegments.
Focuses on the key global Trailer Hitch manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Trailer Hitch with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Trailer Hitch submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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