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Vehicle Trailer Hitch Market by Class (Class I (Up to 2,000 pounds), Class II (2,000-3,500 pounds), Class III (3,500-5,000 pounds), Class IV (5,000-10,000 pounds) and Class V (More than 10,000 pounds)), Configuration (Fixed Drawer Type and Receiver Type), Application (Automotive Vehicles, Boats, Aircraft and Construction Equipment) and Sales Channel (Original Equipment Manufacturer (OEMs) and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2021–2027
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COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Vehicle Trailer Hitch Market
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Vehicle trailer hitch is a device that is attached to the nose gear of an aircraft and chassis of the vehicle for towing. Tow hitch is a useful addition to all vehicles, aircraft, and boats. In addition, it is used for hauling trailers behind any vehicle where one can accommodate additional accessories for carrying and load capacity. The main purpose of a tow hitch or trailer hitch is to hook up a trailer to a vehicle. The vehicle is benefited from traction and towing technologies such as tow assist, terrain response, and progress control for all terrains. Â It is often used for large or heavy vehicles where the movement is allowed by the slack in the pivot pin. Therefore, the growing automobile industry spursthe growth of the vehicle trailer hitch market over the forecast period.
Market scope and structure analysis:
      Market Report Metric |                       Details |
 Market size available for years |  2020–2027 |
 Base year considered |  2019 |
 Forecast period |  2021–2027 |
 Forecast unit |  Value (USD) |
  Segments covered |  Class, Configuration, Application, and Sales Channel |
 Regions covered | North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa |
 Companies covered | CURT Manufacturing LLC, B&W Trailer Hitches, MVG, BOSAL, Brink Group, GDW Group, Horizon Global Corporation, Tow-Trust Towbars Ltd, AL-KO., and Tekonsha |
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COVID-19 scenario analysis:
- The transportation industry is the major source of transporting goods and medical supplies from one place to another during the pandemic.
- Almost every company was kept on hold or not being productive at the time of lockdown, which leads to losses for such companies.
- COVID-19 has severely affected public health and economiesa cross the world.
- Loss of human lives and decrease in labor productivity have impacted various sectors.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Increase in use of trailer for marine and usage of automotive trailer are expected to drive the vehicle trailer hitch market. Moreover, extreme weather conditions and customization leading to high failure of the process from an unorganized market restrain the growth of the market. Furthermore, increase in the effectiveness of tow mechanism, for example, instant stopping scenario in electric brakes provides lucrative opportunities to drive the growth of the vehicle trailer hitch market.
The vehicle trailer hitch market trends are as follows:
Increase in use of trailer for marineÂ
The use of trailers has been increasing in many different aspects from transporting goods to ammunition and heavy tanks used by marines and army. There has been a sudden increase in the number of trailers owned by the marine andarmy. Therefore, the demand for trailers and vehicle trailer hitch is estimated to rapidly increaseover the forecast period.
Usage of automotive trailerÂ
The use of automotive trailers has been continuously increasing as they have large cargo capacity regardless of the size of the trailer. With increase in size and capacity, every inch of space from floor to ceiling can be utilized. In addition, it serves as an affordable option compared to renting or leasing a truck. Therefore, these advantages are expected to boost the vehicle trailer hitch market.
Key segments covered:
       Segments |                   Sub-segments |
 Class |
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 Configuration |
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 Application |
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 Sales Channel |
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Key benefits of the report:
- This study presents the analytical depiction of the vehicle trailer hitch market along with current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the vehicle trailer hitch market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the vehicle trailer hitch market scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.Â
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in the coming years.Â
Questions answered in the vehicle trailer hitch market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
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