Vertical: AutoBase Year: 2018
Market Size (2018)
$1.32B
Projected (2025)
$1.81B
CAGR (2017–2025)
4.4%
Key Players
10+
Growing automotive production and growing automotive aftermarket will spur market growth. The global automotive tow bar market has been segmented based on type, vehicle type, and sales channel.
Based on type, the global market has been segmented into detachable, fixed, swiveling, and others. In 2019, the detachable segment accounted for the largest market share of 40.0% in 2019, with a market value of USD 560.7 million; it is expected to register a CAGR of 3.8% during the forecast period. The fixed segment was the second-largest market in 2019, valued at USD 384.0 million; it is projected to exhibit a CAGR of 4.7% during the projected timeframe.
Based on vehicle type, the global market has been segmented into passenger car, LCV, and HCV. In 2019, the passenger car segment accounted for the largest market share of 63.0% in 2019, with a market value of USD 883.8 million; it is expected to register a CAGR of 4.3% during the forecast period. The LCV segment was the second-largest market in 2019, valued at USD 424.3 million; it is projected to exhibit a CAGR of 4.4%. However, the HCV segment is expected to register the highest CAGR of 5.3% over the forecast period.
Based on sales channel, the global market has been segmented into OEM and aftermarket. The OEM segment accounted for the larger market share of 63.8% in 2019, with a market value of USD 894.9 million; it is expected to register the higher CAGR of 4.8% during the forecast period. The aftermarket segment was valued at USD 507.2 million; it is projected to exhibit a CAGR of 3.6%.
On the basis of region, in 2019, Europe accounted for the largest market share of 36.4% in 2019, with a market value of USD 510.5 million; it is expected to register a CAGR of 3.7% during the forecast period. Asia-Pacific was the second-largest market in 2019, valued at USD 388.8 million; it is projected to register the highest CAGR of 5.4%.
The Automotive Tow Bar Market market is projected to grow at a CAGR of 4.4% from 2017 to 2025.
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View Subscription PlansA tow bar is a device attached to the chassis of a vehicle for towing. It may be in the form of a tow ball to allow swiveling and articulation of a trailer, or a tow pin, or a tow hook with a trailer loop. The tow bar is often used for large or agricultural vehicles where slack in the pivot pin allows similar movements. There are usually four types of tow bars such as detachable, fixed, swiveling, and others used in automotive.
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2018
Historical Period
2017 – 2017
Forecast Period
2019 – 2025
Primary Interviews
150+
Historical data (2017–2018) and forecast period (2018–2025)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansThe global automotive tow bar market is characterized by the presence of many local, regional, and global vendors. The market is highly competitive, with all the players continually competing to gain larger market shares. High competition, rapid advancements in technology, frequent changes in government policies, and stringent environmental regulations are some of the critical factors that could restrain the market growth. The vendors compete in terms of cost, product quality, reliability, and aftermarket services. Vendors must provide cost-effective and efficient products to survive and succeed in a competitive market environment.
The growth of the vendors is dependent on market conditions, government support, and industrial development. Thus, the vendors should focus on expanding their presence and improving their services. ACPS Automotive GmbH, Brink Group B.V., Hayman Reese, CURT Manufacturing LLC, and Horizon Global Corporation are a few of the major players operating in the global market. These companies compete in terms of availability, quality, price, and technology and consider product development as their key strategy in the global automotive tow bar market. Although the international players are dominating the market, regional and foreign players with small market shares also have a significant presence. The international players may strengthen their presence in the global market by heavily investing in product development during the forecast period.
Date
Company name
Development
June 2017
CURT Manufacturing LLC
CURT Manufacturing LLC acquired United Welding Services, a manufacturing company based in the US, which offers storage solutions and truck accessories.
October 2016
Horizon Global Corporation
Horizon Global Corporation acquired Westfalia Group (Germany), a tow bar manufacturing company.
Hayman Reese introduced 4x4 UTES for extending the range of the X-Bar recovery rated tow bars for applications in various car brands, including Mitsubishi, Nissan, Mazda, Isuzu, and Holden.
August 2019
Product Development
Hayman Reese introduced a class 4 tow bar for all-new BMW X5 G05, 5D SUV vehicles.
July 2019
Product Development
Hayman Reese introduced a class 4 tow bar for automotive brands such as Kia and MG.
May 2019
Product Development
Hayman Reese introduced a class 4 tow bar for various automotive brands such as Kia and Jeep auto vehicles.
May 2019
Product Development
Hayman Reese introduced class 5 heavy-duty tow bar for Isuzu NLR Tipper trucks.
March 2019
Product Development
Hayman Reese introduced Class 4 tow bar for Mitsubishi Triton, Toyota Prado, Mazda, and Jayco vehicles.
February 2019
Product Development
Hayman Reese introduced a tow ball mount kit for Holden Acadia SUVs.
December 2018
Product Development
Hayman Reese introduced a class 4 tow bar for the Jayco Conquest FA25 series campervan.
November 2018
Product Development
Hayman Reese developed a tow bar for the Honda Odyssey and Subaru XV SUVs.
October 2018
Product Development
Hayman Reese developed a Class 4 tow bar for Hyundai Kona, Hyundai i30, Holden Equinox, and Toyota Camry.
September 2018
Product Development
Hayman Reese developed a Class 4 tow bar suitable for the Land Rover Discovery 5 and BMW X3 vehicles.
April 2018
Product Development
Hayman Reese developed a Class 2 tow bar suitable for Toyota C-HR vehicles.
CURT Manufacturing LLC entered the dinghy towing market with the introduction of the Rambler, a non-binding tow bar.
July 2019
ACPS Automotive GmbH
ACPS Automotive GmbH inaugurated its new sales office and development site in Michigan, the US.
Michael Porter’s Five Forces model is a framework to study the global automotive tow bar market. Strategic business managers, trying to gain an edge over competing firms in the global automotive tow bar market, can utilize this model to better comprehend the industry in which the company operates. The components of each of the forces and the degree of impact of each component in the context of the global automotive tow bar market have been broken down and analyzed. Threat of New Entrants
The threat of new entrants signifies the impact of new players trying to enter the market. The development of the automotive tow bar involves high technical expertise, along with the moderate capital requirements, which increases the barriers for the new entrants in the market. The automotive OEMs rely on large companies with strong brand recognition, which makes it difficult for the new players to compete with the established players, such as ACPS Automotive GmbH, Brink Group B.V., Hayman Reese, and CURT Manufacturing LLC, who dominate the industry and maintain a substantial market share. There are only a few market players offering the automotive tow bar, which has opened paths for new entrants. However, the new entrants will require strong strategic partnerships with tech giants to offer best-in-class vehicle movement safety. Thus, the threat of new entrants in the global automotive tow bar market is expected to be moderate during the forecast period. Bargaining Power of Suppliers
The suppliers are the providers of raw materials such as steel, aluminum, plastic, rubber, and special fibers. The presence of raw material suppliers is wide, which restricts the bargaining power of suppliers. However, the demand for raw materials to manufacture the tow bars is moderate. Furthermore, manufacturers are also focused on maintaining the highest manufacturing standards to achieve the required working efficiency in extreme loading conditions.
Most automotive tow bar manufacturers procure these raw materials in very high quantities, which further restricts the bargaining power of suppliers. However, the automotive tow bar manufacturing companies cannot easily switch suppliers due to the risks involved in the unavailability of the materials in required quantity and quality from new suppliers on time, which increases the switching cost. Hence, these manufacturers tend to have long-term contracts with their suppliers. Thus, the bargaining power of suppliers in the global automotive tow bar market is moderate. Threat of Substitutes
Automotive tow bars have no direct substitutes that can match their technical specifications and features while performing critical operations. Moreover, the automotive tow bar can pull any load and provides strength to ensure a comfortable towing of the vehicle, which cannot be provided by any other medium. Thus, the threat of substitutes in the global automotive tow bar market is expected to be low. Bargaining Power of Buyers
The buyers of the automotive tow bar include automotive OEMs and aftermarket buyers. The concentration of buyers in the global market is high, which reduces their bargaining power. Furthermore, the impact of brand identity is moderate. The manufacturers tend to have long-term contracts with the automotive OEMs for the uninterrupted supply of the automotive tow bar, which leads to the high cost of switching between the automotive tow bar providers. Thus, the bargaining power of buyers is expected to be moderate in the global automotive tow bar market during the forecast period.
1.1.5 intensity of Rivalry
Product differentiation within the global automotive tow bar market is moderate. Thus, the automotive tow bar manufacturing companies are developing various materials, technologies, and product designs to suit the requirements of the automotive industry and to improve the performance and technical capabilities of the automotive tow bar. Hence, they are investing in extensive research & development of the automotive tow bar. The market is dominated by a few players, who are competing continuously to increase their respective market shares. Hence, the intensity of rivalry in the market is expected to be high.
Market estimates by geography (2025)
InsightEurope leads with $634.00M by 2025, while Asia Pacific is projected to grow fastest at a 5.4% CAGR.
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View Subscription Plans| REGION | 2017 | 2018 | 2025 | CAGR | SHARE |
|---|---|---|---|---|---|
| Asia Pacific | $350.60M | $338.80M | $533.60M | 5.4% | 29% |
| South America | $99.90M | $94.60M | $146.10M | 4.9% | 8% |
| Europe | $475.90M | $430.30M | $634.00M | 3.7% | 35% |
| North America | $301.00M | $275.60M | $411.30M | 4.0% | 23% |
| Middle East and Africa | $62.70M | $58.60M | $89.10M | 4.5% | 5% |
| Total | $1.29B | $1.20B | $1.81B | 4.4% | 100% |
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View Subscription PlansTotal Market Size
$1.81B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Detachable | $702.40M | 3.8% | 39% |
| Fixed | $507.10M | 4.7% | 28% |
| Swiveling | $433.30M | 5.2% | 24% |
| Others | $171.20M | 3.6% | 9% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Automotive Tow Bar Market covering market dynamics, competitive landscape, and strategic outlook.
The Automotive Tow Bar Market market is projected to reach $1.81B by 2025, growing at 4.4% CAGR. The Detachable segment holds the largest share.
The automotive tow bar market is driven by factors such as growing automotive production and growing automotive aftermarket. However, the growing tow bar rentals is expected to restrain the market growth. Rising demand for online channels is expected to create opportunities for the market players.
The automotive aftermarket is undergoing dramatic changes in the past few years with evolving customer expectations, technological innovations, and growing competitiveness. These trends have changed the overall automotive aftermarket industry landscape. Connecting with the target audience through multiple channels remains a focus area for tow bar manufacturers. Leveraging the reach of online channels to find target customers and ultimately convert the prospective customer is now gaining traction. The impact of online channels, including e-commerce, is also evident in aftermarket channels. It is expected that the expansion of the existing retail channel will gain prominence among manufacturers during the forecast period. The tow bar manufacturers are becoming increasingly aware of opportunities in high growth markets such as Asia Pacific. To tap into the growing opportunities, manufacturers are focusing on strengthening their distribution network for better sales of their products. New technologies and major shifts in the aftermarket industry will be prime factors that all companies need to follow to maintain strong positions in the future. The growing demand for online automotive parts sales will create opportunities for tow bar in the forecast period.
Sales of the tow bar are mainly impacted by the easy availability of hauling and towing services. Consumers usually prefer the relatively convenient option of hiring trailers to haul their malfunctioning vehicles. Some vehicle owners keep separate tow bars in their vehicle, as pre-attached is not able to haul high load capacity vehicles. Apart from that, the growing tow bar rental services have also impacted the global automotive tow bar market. In the past few years, the availability of automotive tow bar rental services has been on the rise. Considering this, the demand for individual tow bar may shrink in the coming years restraining the market growth.
Furthermore, the growing tow bar rental services will not have any significant impact on OEMs, but it will impact the aftermarket sales.
Economic Impact on Automotive Industry
With the continuous spread of the novel coronavirus across the world, automakers are taking extreme measures in the form of plant closures to halt the spread of COVID-19. The situation remains uncertain as more European companies suspend work and the US and APAC automakers extend shutdown periods. The automakers' plans on North American production are an effort to slow the spread of the COVID-19 virus; however, currently the region is the global epicenter of the outbreak, with the daily number of confirmed cases outstripping the number in any other region. In the US and Canada, the response of government has been a combination of state or provincial, federal, and local measures. In other regions, the countries' governments are applying seemingly ever-more stringent conditions on social interaction, travel, and workplace attendance. These regions are experiencing similar situations, which is having a marked effect on economy as well as society and causing massive economic disruption, with the automotive industry at the center of this turmoil.
The regional impacts of the pandemic outbreak are highly variable, but as it spreads, the status in the harder hit areas provide a glimpse of what may be witnessed in the near future. China saw a 79% drop in the automotive market in February 2020. As a result, Chinese auto manufacturers have petitioned the government to stimulate the market through subsidies, tax breaks, and temporary reductions in emissions requirements. The initial epicenter of the global outbreak is Hubei province, which is one of the key regions of automotive production in China. Utilization within automotive plants in Hubei remains far below capacity, with many plants fully shut down, and the recovery process may require months to get back on track, post the outbreak. Impact on Automotive Production
In Europe, many of the automotive groups, including Volkswagen, Fiat Chrysler Automobiles N.V. (FCA), and Groupe PSA, have shut most plants across the continent, effectively halting the entire supply chain for the time being. Ford, other key automotive player, has also announced a halt of production activity throughout Europe. Retail activity is currently at a standstill, as many European countries have moved into full lockdown. EU-wide production losses due to factory shutdowns have amounted to over 2 million motor vehicles so far, which includes passenger cars, vans, trucks, buses, and coaches.
The original equipment manufacturers’ (OEM) production in the US has come to a halt, with the “Big 3” OEMs (Ford, FCA, and GM), have agreed to temporarily halt production. On the retail side, OEMs are focusing on driving sales through financing incentives and other consumer-friendly offerings. With the countries under lockdown, retail activity is also experiencing significant slowdowns. A prolonged slowdown of retail sales is likely to have far-reaching impacts, as OEMs may struggle to meet demand due to capacity constraints once the market picks up. Moreover, as OEM production shuts down, the automotive supply chain is also closing, and suppliers do not have the ability to stockpile inventory.
In response to these impacts, according to the National Automobile Dealers Association (NADA), the forecasts for US light vehicle sales in 2020 have been reduced to 14.5 million units, compared to 17 million units in 2019, with further reductions possible if the pandemic is not controlled.
Majority of the automakers have decided to temporarily stop automotive production and the details are mentioned below. Ford
Ford shut down all European and North American production on March 19, with an intention to reopen facilities and restart production on March 30, though, the company on March 31 delayed that goal indefinitely. It planned to start ventilator production at one of its US facilities on April 20. Production of Ford vehicles and engines across the Americas and Europe was expected to resume on May 4 at the soonest.
On restarting production, Ford planned to work with the United Auto Workers (UAW) union leaders in the US in deciding how best to structure the restarting of plant operations and implement new health and safety procedures. In addition, the company has temporarily closed the final assembly building of the Michigan Assembly Plant (MAP) in reaction to an employee having tested positive for the COVID-19 virus and to thoroughly clean and disinfect the building. American Honda
On 18th March, American Honda announced that it is halting North American production till 31st March. The decision applied to vehicle manufacturing and assembly, as well as to Honda's engine and transmission plants in the region. According to company’s statement, it will see a production loss of about 40,000 vehicles and it plans to continue to evaluate conditions and make additional adjustments, as necessary.
Fiat Chrysler Automobiles announced on 18th of March about its North American production plans. FCA had planned to halt production at its plants across North America until 31st March, with the plants being shut progressively. It also temporarily closed its plant in Sterling Heights, Michigan, after an employee tested positive for the COVID-19 virus. This issue impacted the first and second shifts at the plant on 18th March. According to an FCA spokesperson, the automaker's Italian plants were expected to open on April 14, but as of April 15, the company said it will continue to follow guidelines from the Italian government. The automaker plans to evaluate other European plants in the coming weeks. Kia
On 24th March, Kia announced that it would suspend production at its manufacturing plant in Georgia starting March 30th. The shutdown was expected to last two weeks, originally planned to restart production on April 13, but could not resume. During the production stoppage, the company has been performing additional cleaning and disinfecting processes in workstations throughout the plant. Volkswagen
Volkswagen, on 31st March, announced the extension of the production shutdown at its German factories owing to the decline in demand for vehicles and continuing challenges in the supply chain. However, on 27th April, the company reopened the world's biggest car factory at Wolfsburg in Germany.
Amidst the COVID-19 outbreak, investors and manufacturers are pulling back the production and reconsidering investments. This is expected to act as a key headwind for the growth of the global automotive market. The halt in production of vehicles has affected the demand for tow bars globally. The pandemic is expected to have a negative impact on the global tow bars market in the short-term (2020–2021). However, the long-term growth of the market is expected to remain positive. Impact on tow bar Industry Impact on Supply Chain
All countries across globe are trying to strike a fine balance between protecting health, minimizing economic and social disruption, and respecting human rights. The growing spread of corona virus leads to disruption in the raw material markets. Restrictions to shipping and industrial production are affecting multiple supply chains. Distribution of components is the key process in manufacturing industries, which is facing challenges such as staffing of warehouses, a need for direct distribution and more intelligent and responsive allocation across channels due to pandemic which led to pressure on supply chains. The impact on the US market from the disruptions in China will be significant and will have a huge effect in the world economy and badly disrupt global supply chains. Impact on Raw Materials
Automotive manufacturing possesses complex process, with subcomponents required to assemble a single product which is sourced from several countries across the globe. The raw materials required to manufacture these subcomponents could also come from different countries and continents, and the finished products will again be transported all over the globe. The dependency on logistics make import, export of raw material and finished product more complex due to disruption in supply chain. Cash Flow Constraints
Supply chain disruptions have further created cash flow implications across the extended supply chain. SMEs are currently struggling for profitability, the companies which have low cash reserves are totally unstable. However, large scaled manufacturers still appear to be in good financial condition, but they are not sure, when the supply chain will return to normal. A decline in cash inflow resulted from the drop in demand, and majority of companies require high working capital to remain in sync. On the other hand, demand for passenger vehicles is likely to be muted, as this segment is highly impacted by consumer purchasing power and economic/market sentiments. Thus, continued cash flow tightening will impact the automotive market further. Impact on World Trade
World trade is expected to witness a fall between 12% to 30% in 2020 as the COVID 19 pandemic disrupts normal economic activity along with life around the world. The unavoidable declines in trade, production, and output will lead to painful consequences for businesses, on top of the human suffering caused by the disease itself.
According to the United Nations, the global economy is projected to contract by around 1% or more instead of registering 2.5% growth projected by the World Economic Situation and Prospects report 2020. The world economy contraction rate is expected to be more than 1% or possibly more than what was experienced in the global financial crisis in 2009 (i.e., ~2.5%) if the governments (in the developing as well as developed countries) fail to provide required income support and help lift consumer spending.
The restrictions on movement and promoting social distancing to slow the spread of the disease mean that transport, travel, and labor supply are today directly affected in ways they were not during the financial crisis in 2008-09. Whole sectors of national economies have been shut down, including restaurants, hotels, tourism, non-essential retail trade, and significant shares of manufacturing.
The COVID-19 coronavirus situation is evolving rapidly, creating considerable challenges to the health system, and causing disruptions to supply chain operations.
Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.
Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.
Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.
Profiles of 108 companies operating in the Automotive Tow Bar Market market, including revenue, employee count, and market positioning where available.
Showing 108 of 108 companies
Company Headquarters: US Founded: 1855 Workforce: ~ 3,600 Company Working: Horizon Global Corporation (Horizon Global) is engaged in the business of designing and offering a wide range of products for the global automotive industry. The company operates through two business segments, namely, Horizon Americas and Horizon Europe-Africa. It offers various products such as trailers, tow bars, nudge bars, cargo, sports bars, side steps, cycle carriers, bumpers, and other related accessory products. The company offers its products and solutions through various brands, such as Draw-Tite, Reese, Fulton, Reese, Westfalia, and Tekonsha. The products offered by the company are served to its customers through multiple sales channels, including OEMs, retail, aftermarket, and e-commerce channels. Horizon Global Corporation has more than 25 manufacturing facilities located in 17 countries across the world. The company offers its tow bars products to a wide range of car manufacturers, including Ford Motor Company, Toyota, Volkswagen Group, BMW AG, Citroën, Fiat, Chrysler, and General Motors.
Company Headquarters: US Founded: 1989 Workforce: ~3,500 Company Working: TriMas Corporation (TriMas) manufactures and develops products for aerospace, consumer goods, and industrial markets globally. The company offers a wide range of products, which include dispensers, jar products, sprayers, fasteners, cylinders, and other products. It operates through three segments, namely, packaging, aerospace, and specialty products. The company offers a wide range of tow bars for all types of automotive through its subsidiary, Parkside Towbars. TriMas has 80 different facilities in more than ten countries across the Americas, Europe, and Asia-Pacific. TriMas Company LLC, Parkside Towbars, Rieke Corp, Norris Cylinder, and Arrow Engine Company are a few of its subsidiaries.
Company Headquarters: UK Founded: 1926 Workforce: ~200 Company Working: PCT Automotive Limited (PCT Automotive) is engaged in the business of designing, manufacturing, and distributing tow bars, towing electronics components, and other accessories. Some of the other products offered by the company include towball, coupling sets, tow ball cover, drop plate, bumper protectors, relays, and cycle carriers. The tow bars offered by the company have one of the most advanced coatings. The company offers its products through more than 300 distributors to its clients.
Company Headquarters: US Founded: 1993 Workforce: ~1,000 Company Working: CURT Manufacturing LLC, a subsidiary of the Lippert Components, Inc., designs, manufactures, and offers solutions and services for automobiles in the global market. The company offers a wide range of products, such as hitches, ball mounts, cargo carriers, trailer balls, bike racks, and other towing accessories. It offers various products and truck accessories for all types of vehicles ranging from passenger cars to commercial trucks such as Jeeps, SUVs, and trucks. The company has 11 regional warehouses located across the US and Canada.
Company Headquarters: Netherlands Founded: 1903 Workforce: ~600 Company Working: Brink Group B.V. is engaged in designing, testing, and offering a wide range of tow bars and wiring kits for automotive. The company offers tow bars either as original equipment to the car manufacturers or under its ‘Brink’ brand for the aftermarket. It manufactures tow bars as per the international standards to ensure easy installation and safe use in vehicles. The company offers a wide range of products, including fixed tow bars, flange balls tow bars, retractable tow bars, and detachable tow bars for applications in almost all models and brands of cars. It offers its products for various car brands such as Audi, Alfa Romeo, BMW, Chevrolet, Chrysler, Citroen, Dacia, Daewoo, Fiat, DS automobiles, Ford, Honda, Hyundai, Infiniti, Jaguar, MG, and Land Rover. The company has currently fitted tow bars in nearly 25 million vehicles worldwide. Brink Group B.V. offers its products across the world, with sales offices located in France, South Africa, Denmark, Italy, and Poland. The company has manufacturing facilities across the UK, the Netherlands, France, and South Africa
Company Headquarters: Germany Founded: 1955 Workforce: ~2,000 Company Working: ACPS Automotive GmbH, previously known as Bosal Automotive Carrier and Protection Systems GmbH, is a pioneering leader in the business of providing tow bars for SUVs, passenger cars, and vans. It also offers a vast range of products for trailer and carrier systems under its ORIS brand. Its products have several applications in the automotive industry. Its product portfolio includes roof racks, frames, tow bars, bicycle racks, and hitches. Moreover, the company has more than 140 patents for its products in the global market. It offers its products for automobile manufacturing companies in the original equipment sector and end users in the aftermarket. Currently, ACPS Automotive GmbH has offices in 10 locations across the Americas and Europe. It has a presence in several countries across the globe, including the US, Hungary, Russia, Spain, and Mexico.
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Historical performance and future projections (2020–2030, USD Billion)
Market Size (USD Mn)
