ID: MRFR/AM/4442-HCR | 100 Pages | Published By Swapnil Palwe on March 2023
The Global Automotive Winches Market Size is expected to cross USD 3935.11 Million by 2030 at a CAGR of 16% during the forecast period ending in 2030
The global automotive winches system (AWS) market is expected to expand at a CAGR of approx. 16% (2022 to 2030).
Automotive winches are systems used for towing an automobile to its desired location. The winches are usually used by pickup trucks and large commercially operated trucks where a towing mechanism is used. This mechanism involves the use of a wire wound around a drum, such that the other end of this wire can be connected to the automobile required to be towed.
There are several factors responsible for the growth of global automotive winches system (AWS) market over time. Firstly, the rising global automobile sales have ensured increased vehicular traffic demanding better traffic management. Secondly, the modern automobiles with their high features require handling with precision and care to ensure the automobile safety.
The key players in automotive winches system (AWS) market are Westin Automotive Products, Inc. (U.S.), Warn Industries (U.S.), Vortex Direct (U.S.), TJM (Australia), and Superwinch, LLC (U.S.). Smittybilt Automotive Group, Inc. (U.S.), Ramsey Winch Co., Inc. (U.S.), Pierce Arrow Inc. (U.S.), Mile Marker Industries (U.S.), and Ironman 4x4 (Australia) among others.
On the basis of product type, electric winches are usually used for the passenger vehicles and the light commercial vehicles. The electric winches use a combination of cables, electric harness and a power back up system, which powers the entire set up. The purpose of electric winches is to provide precision to the towing vehicle along with providing the option of portability. The electric winches are light in weight and hence can be used in the towing trucks and vehicles, which are used in cramped spaces and narrow roads where space is a major constraint. The hydraulic winches, on the other hand, are more preferred when towing of heavy commercial vehicles is to be undertaken. The hydraulic winches provide strength and stability to the towing vehicle and can pull off a large load in a consistent manner.
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. The Asia Pacific region is expected to lead the global sales of the winches system. The automobile sales have been consistently rising in the Asia Pacific region in the last decade. The rising population, increasing purchase power of the common automobile consumer and the rising number of middle-class population in this region are some of the reasons for the rising automobile sales. The limited space for the vehicular traffic to maneuver in this region due to space crunch and shortage of land for road infrastructure, make the use of winches imperative. The North America region is known for its huge SUVs and mini trucks. In case of automobile failure, the winches come in handy to tow the vehicle to the desired location at ease. The Europe region is known for its high-end automobiles which require extensive maintenance and servicing. The winches system always help in easy transportation of these high-performance cars to the service stations in a controlled and reliable manner. All these reasons, aptly justify the usage and high growth potential for the global automotive winches system (AWS) market.
The report for Global Automotive Winches System (AWS) Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2030: Significant Value|
|CAGR||16% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Vehicle Type, Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Westin Automotive Products, Inc. (U.S.), Warn Industries (U.S.), Vortex Direct (U.S.), TJM (Australia), and Superwinch, LLC (U.S.). Smittybilt Automotive Group, Inc. (U.S.), Ramsey Winch Co., Inc. (U.S.), Pierce Arrow Inc. (U.S.), Mile Marker Industries (U.S.), and Ironman 4x4 (Australia)|
|Key Market Opportunities||Rising population, increasing purchase power of the common automobile consumer|
|Key Market Drivers||Rising global automobile sales have ensured increased vehicular traffic demanding better traffic management|
The global market can possibly attain a growth rate of approximately 16%.
The top companies in the worldwide market are Pierce Arrow Inc. (U.S.), TJM (Australia), Mile Marker Industries (U.S.), Smittybilt Automotive Group, Inc. (U.S.), Warn Industries (U.S.), Westin Automotive Products, Inc. (U.S.), Ironman 4x4 (Australia), Superwinch, LLC (U.S.), Vortex Direct (U.S.), Ramsey Winch Co., Inc. (U.S.), to name a few.
Significant market expansion can take place in the coming years, based on numerous growth boosters as well as lucrative opportunities.
Europe, Asia Pacific, North America, coupled with the Rest of the World have been considered in the report, with respect to the market study.
APAC has the highest chance of gaining the top position in the market.