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Global Towing Vehicle Market - Forecasts from 2019 to 2024

  • ID: 4835374
  • Report
  • Region: Global
  • 99 pages
  • Knowledge Sourcing Intelligence LLP
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FEATURED COMPANIES

  • Danco Products
  • Dual-Tech. Inc.
  • Erkin World Power
  • FIAULT SAS
  • Global Towing Systems Kft
  • JERR-DAN CORPORATION
  • MORE
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$8.950 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.

Drivers

Growing automotive sales
Rising number of vehicle crashes globally

Restraints

Rising investments by automakers into enhancing the safety and reliability of vehicles

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.

Segmentation

The global towing vehicle market has been analyzed through the following segments:

By Type

Flatbed Tow Truck
Hook and Chain Tow Truck
Wheel Lift Tow Truck
Integrated Tow Trucks

By Geography

North America
United States
Canada
Mexico

South America
Brazil
Argentina

Europe
UK
Germany
France
Italy
Others

Middle East and Africa
Saudi Arabia
UAE
Israel

Asia Pacific
Japan
China
India
Australia
Others
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Danco Products
  • Dual-Tech. Inc.
  • Erkin World Power
  • FIAULT SAS
  • Global Towing Systems Kft
  • JERR-DAN CORPORATION
  • MORE
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Currency
1.5. Assumptions
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
6.1.2. Canada
6.1.3. Mexico
6.2. South America
6.2.1. Brazil
6.2.2. Argentina
6.3. Europe
6.3.1. UK
6.3.2. Germany
6.3.3. France
6.3.4. Italy
6.3.5. Others
6.4. Middle East and Africa
6.4.1. Saudi Arabia
6.4.2. UAE
6.4.3. Israel
6.5. Asia Pacific
6.5.1. Japan
6.5.2. China
6.5.3. India
6.5.4. Australia
6.5.5. Others

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
Note: Product cover images may vary from those shown
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  • Danco Products
  • Dual-Tech. Inc.
  • Miller Industries Inc.
  • Global Towing Systems Kft
  • Johnson's Heavy Towing
  • FIAULT SAS
  • MONZA J. ESTEBAN, S.L
  • A & A Truck and Auto Center, Inc.
  • JERR-DAN CORPORATION
  • Erkin World Power
Note: Product cover images may vary from those shown
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The research study is based on the publisher's proprietary research model. The process involves sourcing of information from various industry experts, key professionals, decision-makers and various other stakeholders along with the validation of the responses received from the vast in-house database and premium paid databases. Publicly available sources were also taken into consideration for the final market estimates and forecast for the segments and sub-segments.

The first phase of the research process is the identification of key industry leaders, experts, decision-makers and C-level executives and then conducting interviews and surveys to gain vital insights about the market. Simultaneously, extensive secondary research is done, and key secondary data is collected as part of this process. This secondary data is collected from various databases, industry journals, whitepapers, company annual reports, research publications, and other paid data sources and relevant literature. Company profiles which include strategies, new product developments, recent investments, major products and services, financials and business plans are sourced from the annual reports, SEC filings, industry associations to preserve the quality of the information being displayed. The findings from both the primary and the secondary research process combined go under further processing for market breakdown and forecasting.

The last phase is providing intelligence in the form of presentation, charts, graphics and other different formats helping the clients in a faster and efficient understanding of the market. Under this phase complete market engineering is involved which includes analyzing the collected data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting. The publisher has developed their market forecasting methodology that, in addition to the main market values, also takes into account other macroeconomic factors (global or local) that might have some bearing on the market under study. Taking all the necessary data, a robust forecast is developed using an algorithm that involves both static (multivariate) as well as dynamic (time-series) regression analysis. Special care is taken to make sure their algorithm passes the necessary statistical tests, and the mean prediction for future years obtained is reliable with a very high confidence level. Following data validation, the analysts begin to write the report presenting insights with the help of charts, graphs, and tables.

 

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