DUBLIN--(BUSINESS WIRE)--The "Global Towing Vehicle Market - Forecasts from 2019 to 2024" report has been added to ResearchAndMarkets.com's offering.
The global towing vehicle market was valued at US$6.935 billion in 2018 and is expected to grow at a CAGR of 4.34% over the forecast period to reach a total market size of US$8.95 billion by 2024.
The growth of the market is majorly attributed to the growth of automotive industry worldwide. Rising number of vehicles on road, on account of increasing urbanization and rising disposable incomes in many regions, is driving with it the number of vehicle breakdowns and crashes.
Increasing vehicle traffic on roads is also driving up the number of traffic rule violations as vehicle owners tend to park their vehicles in areas other than designated ones for parking. This is increasing the demand for towing vehicles which can get the vehicles off the road, thus boosting the growth of this market.
The market growth is also being fuelled by rapid growth of e-commerce and logistics sector worldwide. As these sectors continue to witness an impressive year-on-year growth, business owners across these sectors are investing in expansion of their fleet in order to gain competitive edge over their rivals. As this continues, the market for towing vehicles will continue to witness a solid boost in many regions.
The major players profiled as part of this report are Danco Products, Dual-Tech. Inc., Miller Industries Inc., Global Towing Systems Kft, Johnson's Heavy Towing and Erkin World Power among others.
- Growing automotive sales
- Rising number of vehicle crashes globally
- Rising investments by automakers into enhancing the safety and reliability of vehicles
Key Topics Covered
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter's Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. GLOBAL TOWING VEHICLE MARKET BY TYPE
5.1. Flatbed Tow Truck
5.2. Hook and Chain Tow Truck
5.3. Wheel Lift Tow Truck
5.4. Integrated Tow Trucks
6. GLOBAL TOWING VEHICLE MARKET BY GEOGRAPHY
6.1. North America
6.1.1. United States
6.2. South America
6.4. Middle East and Africa
6.4.1. Saudi Arabia
6.5. Asia Pacific
7. COMPETITIVE INTELLIGENCE
7.1. Competitive Benchmarking and Analysis
7.2. Recent Investments and Deals
7.3. Strategies of Key Players
8. COMPANY PROFILES
8.1. Danco Products
8.2. Dual-Tech Inc.
8.3. Miller Industries Inc.
8.4. Global Towing Systems Kft
8.5. Johnson's Heavy Towing
8.6. FIAULT SAS
8.7. MONZA J. ESTEBAN, S.L
8.8. A & A Truck and Auto Center Inc.
8.9. Jerr-Dan Corporation
8.10. Erkin World Power
For more information about this report visit https://www.researchandmarkets.com/r/gtp5xi