Gobal Trailer Hitch market will reach 840 million US$ by the end of 2025

Publisher: QYResearch

Published Date: 2018/10/24

Global Trailer Hitch Market Professional Survey Report 2018 studies the global Trailer Hitch market status and forecast, categorizes the global Trailer Hitch market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe, Japan, China, India, Southeast Asia and other regions (Central & South America, and Middle East & Africa).

A Trailer Hitch (or tow bar) is a device attached to the chassis of a vehicle for towing, or a towbar to an aircraft nose gear.

Tow hitches are known as trailer hitches in North America, but the purpose of use is the same. Trailer hitches usually have two primary configurations, one is the fixed drawbar type and the other is the receiver type. The receiver type includes parts that mount to the vehicle’s frame and also consist of an opening that is rearward facing which takes cargo carriers, hitch racks, detachable ball mounts or other hitch accessories. On the other hand fixed drawbar hitches are built as one piece and consist of a hole that is integrated and these hitches are not aftermarket hitch accessories compatible.

Horizon Global Corporation is a leader of trailer hitch through acquisitions to strengthen its market position, like Horizon Global Corporation acquired Witter Towbars and Westfalia-Automotive in 2013 and 2016. Now Horizon Global Corporation has several brands to produce and sell trailer hitch in the world, like Westfalia-Automotive from Germany, TriMotive, Draw Tite and Reese from United States, Hayman Reese from Australia, Hidden Hitch from Canada while Witter Towbars from UK.

Currently the Trailer Hitch market is dominated by North America and Europe, Asia-Pacific will play a more important role in future, especially in China, Southeast Asia and India etc.

The global Trailer Hitch market is valued at 660 million US$ in 2017 and will reach 840 million US$ by the end of 2025, growing at a CAGR of 2.9% during 2018-2025.

Click to view the full report: https://www.qyresearch.com/index/detail/118987/global-trailer-hitch-market

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