Automotive Tow Bars Market: Manufacturers Converging On Product Innovations to Develop Efficient Tow Bars

Posted on 2019-06-06 by Mark Hub in Automotive // 0 Comments

Rockville, USA, 2019-Jun-06 — /EPR Network/ — The global automotive tow bars market is poised to reach a value of about US$ 6,800 Mn by the end of 2022 and is anticipated to grow at a steady CAGR during the forecasted period of 2017 to 2022. This comprehensive study on the global automotive tow bars market assays an assessment on the market, while delivering critical actionable insights on key dynamics shaping the market. The significance of equipment’s portability has grown manifold times as soaring competition demands having equipment with lowest cost of production, design and operation. When it comes to portable compressors, tow bars act as a connecting link between the towing vehicle and the compressor.

Keeping up with the changing automotive landscape and implementation of new regulation, manufacturers have spurted their innovation process to offer sophisticated tow bars which are efficient, reliable and easily retrofitted. As such, Brink tow bars, a tow bar manufacturer uses 3D vehicle scan in the product development phase; advanced production technologies has leveraged Brink to manufacture tow bars which adhere to strictest in-house norms and European standards.

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To abide by the industry guidelines, automotive tow bars manufacturers are looking to provide environment-friendly coatings on the component which not only substantiates tremendous exterior but also offers highest standard of protection against corrosion. Against the backdrop of excellent chemical resistance and mechanical properties, epoxy-based primers are believed to be the most environment-friendly coating for automotive tow bars.

The primer which is REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) and HAP compliant, is based upon a waterborne lead and tin-free formulation which makes it popular coating solution for high contamination resistance. Moreover, ever-increasing demand for weight reduction in the automotive landscape aimed at reducing emission and enhancing fuel efficiency has led to the adoption of high thermal strength plastics along with polycarbonates.

Manufacturers Converging On Product Innovations to Develop Efficient Tow Bars

In line with the ever evolving automotive landscape coupled with new standards and requirements by all kinds of vehicles including passenger and utility vehicles, manufacturers have sped up their innovation process to produce high-quality automotive tow bars that are reliable, efficient, and easily retrofitted. Moreover, increasing demand for discreet designing without interfering with the visual appearance of the vehicles, advanced functionality, accurate fit, and simplified installation is pushing manufacturers to develop original-equipment quality tow bars with vehicle-specific solutions.

Automotive Tow Bars Market: Overview

The report provides a comprehensive assessment on automotive tow bars market propelled by quantitative and qualitative assessment. Furthermore, the report offers deep dive analysis on the dynamics of the automotive tow bars market through the analysis of drivers, trends, restraints, trends, opportunities. Besides, the report sheds light on segmentation of the market to provide a robust assessment of the automotive metal wheel.

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The report limns executive summary as well as market overview section which provide holistic picture of the automotive tow bars market. Moreover, the report on automotive tow bars embodies the market outlook along with attractiveness analysis which offers a coherent analysis of the market. The report also delineates cost structure analysis, pricing analysis, supply chain and market value projection to provide a actionable insights on the market. The report on automotive tow bars market elucidates overview section which delineates Porters’ Five Force Analysis, value chain analysis and trend analysis. Porters’ Five Force Analysis provides in-depth analysis on competitive scenario of the automotive tow bars market.

Highlights on Global Automotive Tow Bars Market

The retractable tow bars segment by product type seems to be the largest segment compared to other segments in product type. It is anticipated to grow and reflect a value of about US$ 2 Bn by 2022 end. The key manufacturers are advised to focus on APEJ region owing to higher potential in this region, apart from Europe in this particular segment
The detachable tow bars segment have started to gain popularity in the recent months. The APEJ region is poised to surpass Europe region in this segment and is expected to be a worth over US$ 440 Mn. Europe also shows good attractiveness in this respect
IAM and OEM segments by sales channel show similar growth opportunities and both have a revenue share, approximately 1/3^rd of the automotive tow bars market. This value is equivalent to almost US$ 2 Bn by the end of the forecasted period (2022). Along with Europe region, the key companies can also shift their focus on the North America and Asia Pacific excluding Japan (APEJ) region which show good opportunities and a high potential in the automotive tow bars market

Automotive Tow Bars Market: Competitive Analysis

A robust assessment of competitive scenario of the automotive tow bars market is propelled by an exhaustive assessment of Porters’ Five Force Analysis offering inputs on potential strategic steps taken competitors. The report incorporates financial overview, portfolio of the product, recent development, namely. These include companies like Brink Group B.V., David Murphy Towing Brackets Limited, Dixon Bate Limited, Thule Group, Westfalia Automotive GMBH and Bosal International N.V.

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