Tow Vehicle Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
- Transparency Market Research
- Industrial Vehicles
Towing is connecting two or more vehicles together so that those vehicles can be pulled by a designated power source. The vehicles are joined by a rope, chain, bar, hitch, integrated platform, or other resources to keep them together while in motion. A tow truck is a truck used to move disabled, improperly parked, impounded, or otherwise indisposed motor vehicles. There are three types of trailers in the towing vehicle market: small trailers, 18 wheel trailers, and large ‘big rig’ trailers. Small trailers are attached to cars or small trucks (minivans, SUVs). 18 wheel trailers are the trailers which are designed to be hauled in a rig and are a tractor trailer combination, while large ‘big rig’ trailers might require a specialized vehicle, such as a military truck, farm tractor, and tank. Towing capacity is used to measure the upper limit of the weight of a trailer which a vehicle can tow and it is generally measured in pounds or kilograms. Towing capacity can be subdivided into two main categories as braked towing capacity and unbraked towing capacity. Braked towing capacity means how much a vehicle can tow with trailer brakes in use. Braked towing capacity is considerably greater than unbraked towing capacity. The tow vehicle market is expected to witness sustainable growth in the coming years.
The demand for tow vehicles is anticipated to rise owing to improved lifestyle in emerging economies, increasing urban population, rising middle class in countries such as China and India that have compelled companies to manufacture cars, and other vehicles. As disposable income increases, more people feel the need for comfortable driving instead of carpooling or use of public transport. This induces the purchase cars. The chance of an accident or demand for roadside support rises, when more cars or vehicles are on the road. Furthermore, bad weather conditions and tendency of people to use their old vehicle are factors which are also expected to contribute to the growth of the tow vehicle market. The cost of the towing service might act as a restraint to the tow vehicle market. In countries like India, people use a rope or metal wire to tow a vehicle instead of using costly towing services in case of breakdown or an emergency.
The tow vehicle market is segmented on the basis of drive type, fuel type, vehicle type, end-user, and region. On the basis of drive type, tow vehicles are classified as 2-wheel drive, and 4-wheel drive. 2-wheel drive tow vehicles have better fuel economy and a higher towing capacity than 4-wheel drive tow vehicles. However, 4-wheel drive allows the vehicle to have better pull in adverse driving conditions. Based on fuel type, the market is segmented into diesel or gasoline. The tow vehicle market is segmented on the basis of vehicle type into hook and chain, flatbed, boom towing, integrated, and wheel-lift. On the basis of end-user, the market is segmented into passenger cars, light duty trucks and others. In terms of region, the tow vehicle market is divided into North America, Asia Pacific, Europe, Middle East & Africa, and South America. Furthermore, these regions are subdivided into various countries such as the U.S., Canada, U.K., Germany, France, Italy, China, India, Japan, Australia, Saudi Arabia, South Africa, and Brazil.
Some of the key players in the tow vehicle market include All City Towing, Arrow Wrecker Service, McDonalds Towing, Coletta’s Garage, Suburban Towing, Miller Industries Inc., Bradshaw Electric Vehicles, Roger Dyson Ltd 2, Towrite, Tow Truck Trader, Prime Hitech Engineering Limited, Babbar Wreckers Pvt Ltd, Jerr-Dan Corporation, and Liftmak. The key players in the market focus on safety and security of the vehicles and 24/7 customer assistance to remain competitive.
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The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
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