Two Wheeler Tow Bar Market to Grow with a CAGR of 5.82% Globally through to 2028
Increasing Demand for Adventure Tourism
and Recreational Activities, Expanding Urbanization and Traffic Congestion,
Technological Advancements in Tow Bar Design and Growing Popularity of E-Bikes
and Electric Scooters are factors driving the Global Two Wheeler Tow Bar market
in the forecast period 2024-2028.
According to TechSci Research report, “Global Two
Wheeler Tow Bar Market - Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Two Wheeler Tow Bar Market
stood at USD 1.8 billion in 2022 and is anticipated to grow with a CAGR of 5.65%
in the forecast period, 2024-2028. In the coming years, there will likely be a major increase
in the need for vehicle tow bars. For a car to be pulled by another vehicle, an
external device called a tow bar is fastened to the vehicle's chassis. An
optimized load distribution and towed vehicle swivelling are the main goals of
a tow bar. The market for automotive tow bars is expected to increase because
of many key factors, including the rise in the usage of recreational vehicles,
involvement in adventure tourism, and off-roading leisure activities. Tow bars
come in five basic varieties, with foldable tow bars accounting for most sales
due to their convenience and compactness. Tow bars are primarily available in
five different variants worldwide. Additionally, the growth of e-commerce and
increased demand for automotive accessories drive tow bar sales.
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The global two-wheeler tow bar market is a dynamic and
evolving sector within the broader motorcycle and scooter accessories industry.
Tow bars, also known as motorcycle tow hitches or trailer hitches, serve a
crucial role in enabling motorcycles and scooters to tow trailers or carry
additional cargo. This market has witnessed significant growth and
transformation over recent years, driven by a combination of factors, including
changing consumer preferences, technological advancements, regulatory
developments, and environmental considerations. In this comprehensive overview,
we will delve into the key aspects that define the global two-wheeler tow bar
market, providing insights into its current status and future prospects.
The market's growth is significantly influenced by the
increasing demand for adventure tourism and recreational riding. Across the
globe, adventure enthusiasts and motorcycle riders are seeking ways to enhance
their experiences, whether through long-distance touring, camping, or off-road
adventures. Two-wheeler tow bars have emerged as essential accessories that
enable riders to transport camping equipment, bicycles, sports gear, or
luggage, making these journeys more convenient and enjoyable. This trend reflects
the desire for unique and thrilling experiences, driving manufacturers to
innovate and expand their product offerings to cater to the diverse needs of
adventure-seeking riders.
Technological advancements are at the forefront of
shaping the two-wheeler tow bar market. In an era where connectivity and
convenience are paramount, manufacturers are leveraging technology to transform
tow bars into smart and user-friendly accessories. Features such as smart tow
bar monitoring, quick-release mechanisms, LED lighting systems, and integration
with motorcycle electronics are enhancing the safety and functionality of tow
bars. These innovations not only improve the user experience but also align
with the growing emphasis on safety and convenience, driving further adoption
of tow bars among motorcycle and scooter enthusiasts.
Urbanization and the challenges of commuting in
crowded cities have also played a significant role in the evolution of the
two-wheeler tow bar market. As urban areas become increasingly congested,
motorcycles and scooters are becoming popular choices for daily commuting due
to their maneuverability and fuel efficiency. However, the need for occasional
cargo transport remains, prompting the demand for tow bars designed to cater to
urban commuters' needs. Tow bars that facilitate the transport of groceries, luggage,
food delivery boxes, or work-related equipment have become essential in
addressing these challenges, driving innovation in the market to meet the
unique requirements of urban riders.
The global shift towards eco-friendly transportation
options, such as electric bikes (e-bikes) and electric scooters, has brought
about a new dimension to the two-wheeler tow bar market. E-bikes and electric
scooters have gained popularity due to their sustainability, low operating
costs, and ease of use. However, their limited cargo capacity has led to a
growing demand for tow bars designed to enhance their utility. Tow bars
compatible with electric two-wheelers allow riders to attach trailers or cargo
carriers, expanding the market's reach beyond traditional motorcycles and
scooters. As governments and communities worldwide prioritize sustainable
transportation solutions, the adoption of e-bikes and electric scooters is
expected to continue growing, fueling the demand for two-wheeler tow bars in
the coming years.
Customization and design aesthetics are emerging as a
significant trend in the two-wheeler tow bar market. Consumers are increasingly
seeking tow bars that not only offer functionality but also complement the
visual appeal and style of their motorcycles and scooters. Manufacturers are
responding to this trend by offering a diverse range of tow bar designs,
finishes, and color options. This customization allows consumers to select tow
bars that match their vehicle's aesthetics, ensuring a harmonious integration
with the overall look of their motorcycle or scooter. Additionally, some
manufacturers collaborate with motorcycle and scooter brands to develop
co-branded tow bars that align with the specific design language of the
vehicle. This trend emphasizes the importance of visual harmony and
personalization in the tow bar market, catering to consumers who value both
form and function.
Major companies operating in Global Two Wheeler Tow
Bar Market are:
- Brink Group B.V
- Bosal International N.V
- Westfalia-Automotive GmbH
- PCT Automotive Ltd.
- GDW N.V
- Pulliam Enterprises Inc.
- Horizon Global Corporation
- Tow-Trust Towbars Ltd.
- B & W Trailer Hitches
- Curt Manufacturing LLC
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“The global
two-wheeler tow bar market is experiencing significant growth and
transformation. Increasing interest in adventure tourism, urbanization, and
eco-friendly transportation options has driven the demand for tow bars,
enabling motorcycles and scooters to transport cargo and enhance their
functionality. Technological advancements have made tow bars smarter and safer,
while customization options cater to consumers' aesthetic preferences.
Competition is intensifying, necessitating innovation and differentiation.
Additionally, sustainability concerns are driving the need for eco-friendly
materials and practices in tow bar manufacturing. As the market continues to
evolve, it must balance these trends and challenges to meet the changing needs
of riders worldwide.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Two
Wheeler Tow Bar Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Type (Fixed, Detachable, Retractable), By Sales Channel
(OEM, Aftermarket), By Region, By Competition, 2018-2028”, has
evaluated the future growth potential of Global Two Wheeler Tow Bar Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Two Wheeler Tow Bar Market.
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