Tow Bar Market Report 2024

The tow bar market size has grown strongly in recent years. It will grow from $5.79 billion in 2023 to $6.12 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. In the historical period, growth can be linked to increasing interest in recreational vehicles, expanding demand for both commercial and passenger automobiles, rising disposable incomes, a surge in luxury car demand, and heightened enthusiasm for adventure activities.

The tow bar market size is expected to see strong growth in the next few years. It will grow to $7.71 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. Looking ahead to the forecast period, growth is expected due to stricter safety regulations, the growth of adventure tourism, increased usage of caravans and motorhomes, rising demand for off-road activities, and government initiatives supporting these trends. Key trends in the forecast period include the adoption of retractable and detachable tow bars, advancements in manufacturing techniques, innovations in electric tow bars, automated and motorized tow bar systems, and improvements in materials.

The increasing popularity of recreational vehicles is expected to drive growth in the tow bar market moving forward. Recreational vehicles, specialized large vehicles designed for comfortable mobile living and camping during leisure and travel, are in higher demand due to growing interest in outdoor activities and the flexibility of remote work, enabling safe and economical travel. Tow bars are essential for recreational vehicles (RVs), allowing them to tow additional vehicles or trailers, thereby enhancing travel flexibility and storage capacity. For instance, in January 2022, the Recreation Vehicle Industry Association (RVIA) reported a 16% increase in total RV shipments to 53,290 units compared to January 2021, underscoring the rising demand driving the tow bar market.

Leading companies in the tow bar market are innovating with towbar-mounted tents to augment the versatility and utility of their products. These innovative tents attach easily to a vehicle's tow bar, providing convenient and portable shelter for outdoor enthusiasts. For example, in May 2024, Thule Group launched the Thule Outset, a towbar-mounted tent that sets a new standard in outdoor living. Designed for quick and easy installation by one person, it offers a spacious and comfortable interior with panoramic views, reflecting Thule's design expertise and focus on user-friendly features to appeal to those seeking a luxurious alternative to traditional camping setups.

In October 2021, DexKo Global Inc., a US-based manufacturer of automotive parts, acquired Brink International for an undisclosed sum. This strategic acquisition is intended to strengthen DexKo Global Inc.'s position as a global leader in the towing and trailer components industry. It also aims to broaden its product portfolio and increase market presence across Europe. Brink International, headquartered in the Netherlands, specializes in tow bars and towing systems.

Major companies operating in the tow bar market are Lippert Components, Thule Group, Trimas Corporation, AL-KO Vehicle Technology, Horizon Global Corporation, Curt Manufacturing, DexKo Global Inc., B&W Trailer Hitches, Bosal Towbars, Roadmaster Inc., Draw-Tite, Demco Products, Westfalia-Automotive GmbH, Witter Towbars, Acps Automotive GmbH, Blue Ox, Towsure Products Ltd., Hayman Reese, Tow-Trust Towbars, PCT Automotive Ltd., Anderson Hitches, Rameder Anhängerkupplungen und Autoteile GmbH, Carasel Towbars, Gen-Y Hitch, Towbar Express.

Europe was the largest region in the tow bar market in 2023. The regions covered in the tow bar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the tow bar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A tow bar is a device installed on a vehicle's chassis to tow trailers or other vehicles securely. It consists of a rigid bar with a coupling mechanism that connects the towing vehicle to the trailer or towed vehicle, ensuring stable towing.

Types of tow bars include retractable automotive towbars, detachable automotive towbars, fixed automotive towbars, and automotive towing brackets and ball plates. Retractable automotive towbars can be folded away when not in use, maintaining a streamlined appearance at the vehicle's rear. They are suitable for various vehicle categories such as passenger cars, SUVs, light commercial vehicles, and heavy commercial vehicles. These products are distributed through original equipment manufacturers, original equipment suppliers, and independent aftermarket channels, catering to sectors such as aviation, automotive, towing and recovery, among others.

The tow bar market research report is one of a series of new reports that provides tow bar market statistics, including tow bar industry global market size, regional shares, competitors with a tow bar market share, detailed tow bar market segments, market trends and opportunities, and any further data you may need to thrive in the tow bar industry. This tow bar market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The tow bar market consists of sales of products including swan neck towbar, fixed tow bars, adjustable tow bars, heavy-duty tow bars, and tow bar accessories. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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