Fact.MR, a market research and competitive intelligence firm, conducted a thorough analysis of the global automotive towbar market, which is expected to grow at a CAGR of 3.6 percent from 2021 to 2031, surpassing a valuation of US$ 1.9 billion. The global automotive towbar market accounts for 2% of the overall market.
Retractable automotive towbars have a sizable market share in terms of value. Due to advantages such as invisibility in any type of vehicle and ease of storage, retractable towbar equipment is gaining popularity (can be stored behind the bumper).
Key Segments Covered in Automotive Towbar Industry Survey
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By Product Type
- Retractable Automotive Towbars
- Detachable Automotive Towbars
- Fixed Automotive Towbars
- Automotive Towing Brackets & Ball Plates
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By Sales Channel
- OEM Automotive Towbar Sales
- OES Automotive Towbar Sales
- IAM Automotive Towbar Sales
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By Vehicle
- Automotive Towbars for Compact Passenger Cars
- Automotive Towbars for Mid-sized Passenger Cars
- Automotive Towbars for Premium Passenger Cars
- Automotive Towbars for Luxury Passenger Cars
- Automotive Towbars for Sports Utility Vehicles (SUVs)
- Automotive Towbars for Light Commercial Vehicles
- Automotive Towbars for Heavy Commercial Vehicles
Competitive Environment
Brink Group B.V, Bosal International N.V, PCT Automotive Ltd, and Curt Manufacturing LLC are the top manufacturers of automotive towbars, according to market research.
Leading market players are using organic and inorganic growth strategies to boost their profit margins by expanding their product portfolios and increasing product sales.
DexKo Global Inc., for example, agreed to buy Brink International, a specialist in automotive towbar solutions, in June 2021. The DexKo range is being expanded by the Dutch company to include custom towing and transportation solutions.
A non-binding rambler steel towbar is available from Curt Manufacturing. For improved control and handling, the newly introduced device features an automated locking system, three storage settings, and slide-resistant arms.
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