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According to the latest research, the global Tow Truck market size was valued at USD 5475.32 million in 2022 and is expected to expand at a CAGR of 5.27% during the forecast period, reaching USD 7451.4 million by 2028.
Tow truck (also called a wrecker, a breakdown truck, recovery vehicle or a breakdown lorry) is a truck used to move disabled, improperly parked, impounded, or otherwise indisposed motor vehicles. This may involve recovering a vehicle damaged in an accident, returning one to a drivable surface in a mishap or inclement weather, or towing or transporting one via flatbed to a repair shop or other location.
Technology improves user experience
New technology scenarios in the trailer industry enable industry users to get a better experience. The technical blessing has made the service effects and products of the trailer industry favored by users. The emergence of new technologies such as cloud computing, big data, and artificial intelligence provides space for thinking about the new development of the Tow Truck industry. By adding new technology to the industry's the production and service process, it can better solve the pain points and problems of the trailer industry, ensure the effect of industry services, and achieve the dual improvement of the efficiency of the trailer industry and the user experience.
Increasing number of road traffic accidents worldwide
The increasing number of road traffic accidents worldwide will drive market growth. In recent decades, although the death rate of road traffic accidents in many high-income countries has stabilized or declined. But the number of road deaths in most parts of the world is increasing. It will ultimately have a positive impact on the growth of the market.
Region Overview:
In 2021, the share of the Tow Truck market in North America stood at 44.45%.
Company Overview:
Miller is one of the major players operating in the Tow Truck market, holding a share of 9.23% in 2022.
Miller
Miller Industries, Inc. is a domestic and foreign manufacturer of vehicle towing and recovery equipment. The Company has developed and acquired brands in the towing and recovery equipment manufacturing industry.
GuangDong YueHai motor vehicle co., Itd
GuangDong YueHai motor vehicle co., Itd is a designated special vehicle manufacturer in China. The company's main products are: Yuehai brand wrecker truck, Yuehai brand aerial work truck, Yuehai brand silt grab truck.
Segmentation Overview:
By type, Medium-Duty Tow Trucks segment accounted for the largest share of market in 2021.
Application Overview:
The market's largest segment by application is the segment Road Breakdown Vehicle, with a market share of 43.71% in 2021.
This report elaborates on the market size, market characteristics, and market growth of the Tow Truck industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Tow Truck. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Tow Truck Market Report Include:
Market Size Estimates: Tow Truck market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Tow Truck market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Tow Truck market
Segment Market Analysis: Tow Truck market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Tow Truck market situations and prospects in major and top regions and countries
Tow Truck Market
Tow Truck Industry Chain: Tow Truck market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Tow Truck Industry News, Policies by regions
Tow Truck Industry Porters Five Forces Analysis
Key players in the global Tow Truck market are covered in Chapter 2:
Danco Products
Dynamic
Jerr-Dan
Hubei Chengli Automobile Corporation
Kilar
Miller
NRC Industries
Dual-Tech
A&A Truck and Auto Center,lnc.(AATAC)
GuangDong YueHai motor vehicleco.,ltd
Yamaguchi Wrecker
B&B Industries Inc
In Chapter 6 and Chapter 9, on the basis of types, the Tow Truck market from 2018 to 2028 is primarily split into:
Light-Duty Tow Trucks
Medium-Duty Tow Trucks
Heavy-Duty Tow Trucks
In Chapter 7 and Chapter 10, on the basis of applications, the Tow Truck market from 2018 to 2028 covers:
Road Breakdown Vehicle
Urban Illegal Vehicles
Rescue
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Tow Truck market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Tow Truck industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Tow Truck market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Tow Truck industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Tow Truck market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Tow Truck market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Tow Truck market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
2022
Tow truck (also called a wrecker, a breakdown truck, recovery vehicle or a breakdown lorry) is a truck used to move disabled, improperly parked, impounded, or otherwise indisposed motor vehicles. This may involve recovering a vehicle damaged in an accident, returning one to a drivable surface in a mishap or inclement weather, or towing or transporting one via flatbed to a repair shop or other location.
Technology improves user experience
New technology scenarios in the trailer industry enable industry users to get a better experience. The technical blessing has made the service effects and products of the trailer industry favored by users. The emergence of new technologies such as cloud computing, big data, and artificial intelligence provides space for thinking about the new development of the Tow Truck industry. By adding new technology to the industry's the production and service process, it can better solve the pain points and problems of the trailer industry, ensure the effect of industry services, and achieve the dual improvement of the efficiency of the trailer industry and the user experience.
Increasing number of road traffic accidents worldwide
The increasing number of road traffic accidents worldwide will drive market growth. In recent decades, although the death rate of road traffic accidents in many high-income countries has stabilized or declined. But the number of road deaths in most parts of the world is increasing. It will ultimately have a positive impact on the growth of the market.
Region Overview:
In 2021, the share of the Tow Truck market in North America stood at 44.45%.
Company Overview:
Miller is one of the major players operating in the Tow Truck market, holding a share of 9.23% in 2022.
Miller
Miller Industries, Inc. is a domestic and foreign manufacturer of vehicle towing and recovery equipment. The Company has developed and acquired brands in the towing and recovery equipment manufacturing industry.
GuangDong YueHai motor vehicle co., Itd
GuangDong YueHai motor vehicle co., Itd is a designated special vehicle manufacturer in China. The company's main products are: Yuehai brand wrecker truck, Yuehai brand aerial work truck, Yuehai brand silt grab truck.
Segmentation Overview:
By type, Medium-Duty Tow Trucks segment accounted for the largest share of market in 2021.
Application Overview:
The market's largest segment by application is the segment Road Breakdown Vehicle, with a market share of 43.71% in 2021.
This report elaborates on the market size, market characteristics, and market growth of the Tow Truck industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Tow Truck. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Tow Truck Market Report Include:
Market Size Estimates: Tow Truck market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Tow Truck market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Tow Truck market
Segment Market Analysis: Tow Truck market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Tow Truck market situations and prospects in major and top regions and countries
Tow Truck Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.Tow Truck Industry Chain: Tow Truck market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Tow Truck Industry News, Policies by regions
Tow Truck Industry Porters Five Forces Analysis
Key players in the global Tow Truck market are covered in Chapter 2:
Danco Products
Dynamic
Jerr-Dan
Hubei Chengli Automobile Corporation
Kilar
Miller
NRC Industries
Dual-Tech
A&A Truck and Auto Center,lnc.(AATAC)
GuangDong YueHai motor vehicleco.,ltd
Yamaguchi Wrecker
B&B Industries Inc
In Chapter 6 and Chapter 9, on the basis of types, the Tow Truck market from 2018 to 2028 is primarily split into:
Light-Duty Tow Trucks
Medium-Duty Tow Trucks
Heavy-Duty Tow Trucks
In Chapter 7 and Chapter 10, on the basis of applications, the Tow Truck market from 2018 to 2028 covers:
Road Breakdown Vehicle
Urban Illegal Vehicles
Rescue
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Tow Truck market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Tow Truck industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Tow Truck market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Tow Truck industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Tow Truck market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Tow Truck market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Tow Truck market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
