The global Trailer Hitch market was valued at 64.28 Million USD in 2021 and will grow with a CAGR of 2.89% from 2021 to 2027, based on Research newly published report.
The prime objective of this report is to provide the insights on the post COVID-19 impact wwhich will help market players in this field evaluate their business approaches. Also, this report covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).
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.
By Market Verdors:
- 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)
- Class I Trailer Hitch
- Class II Trailer Hitch
- Class III Trailer Hitch
- Class IV Trailer Hitch
- Class V Trailer Hitch
- Cars, SUV and ATVs
- Recreational Vehicle (RV)/Motorhomes
- Vans/Pickup Truck
- Boat Trailers
Key Indicators Analysed
- Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the markets competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
- Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.
- Market Trends: Market key trends which include Increased Competition and Continuous Innovations.
- Opportunities and Drivers: Identifying the Growing Demands and New Technology
- Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.
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- To understand the future outlook and prospects for the market.
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