Automotive Winches System Market to grow at 16% compound annual growth rate from 2018 to 2024, according to “Global Rear-View Mirror Market Size, Share, Trends, Growth and Regional Forecast Industry Report” published by Market Research Future. This report comprises comprehensive information on Automotive Winches System Market Forecast data up to 2024, with historic and current market information. Automotive Winches System Industry analysis done by Product Type (Hydraulic Winches, Electric Winches), Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle), Region (North America, APAC, Europe, RoW).
Global Automotive Winches System Market Highlights:
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 global automotive winches system (AWS) market is expected to expand at a CAGR of approx. 16% (2018 to 2024).
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Automotive Winches System Market Key Companies Studied in this report 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 4×4 (Australia) among others.
To overcome these drawbacks of the mechanical winch system, the hydraulic and the electric winch system were developed. The electric winch consists of a power generator, which operates the pulley attached to the cable. This causes reduced workload on the part of the operator. The precision and skill earlier required by the operator is also reduced due to this system. The life of the winch system is increased substantially due to the modification. The reliability factor and the associated precision of the system increased, as well. In case of heavy loads, the hydraulic winch system is preferred. This system utilizes the fluid power that gets transferred between the hydraulic cylinder to the electric generator and ultimately to the pulley.
Market Segments Analysis:
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 sales of the automotive winches system. The automobile sales have seen consistent growth in the Asia Pacific region. The increasing population, growing purchasing power of the automobile customer and the increasing middle-class population in Asia Pacific region are a few of the reasons for the rising automotive sales. The limited space for traffic movement in this region due to infrastructural space crunch and less space for road infrastructure, makes the use of winches in this region absolutely, necessary. The North America region boasts of the highest sales of SUVs and mini trucks, globally. In case of vehicle failure, the winches help in towing the vehicle to the desired automobile service station. The Europe region consists of the largest number of high-end automobiles globally. These high-performance automobiles require detailed and minute attention to maintenance and repair work. The winches system aids comfortable transportation of these automobiles in a safe environment to save crucial time. All these reasons, aptly justify the usage and high growth potential for the global automotive winches system (AWS) market.
Research Methodology:
Market Research Future (MRFR) employs innovative statistical algorithms for gathering impactful market insights that can drive business decisions. An in-depth analysis of constantly evolving market trends combined with a study of historical data is leveraged for providing accurate competitive intelligence. The statistical observations made in our reports are backed by data procured through extensive primary and secondary research which include interviews with stakeholders, SEC filings, whitepaper references, annual reports of key players, etc. Top-down and bottom-up approaches are employed for authenticating the credibility of the market foresight delivered. A multi-layer verification process reaffirms the market size and revenue estimation. MRFR strives to provide reliable and transparent information that helps clients in developing growth strategies.
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.
Table Of Contents:
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Stud
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4.1 Introduction
4.2 Forward Collision Warning
4.3 Dynamic Brake Support
4.4 Crash Imminent Braking
Continued…
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