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Trailer Market by Type, Application and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2020-2027
NEW CASTLE, DELAWARE, United States, September 16, 2023 /EINPresswire.com/ — Tow trucks, also known as recovery vehicles, are used to move improperly parked, damaged, and impounded motor vehicles from one place to another. In addition, the bracket is a device used to lift the vehicle to avoid damaging the front panel of the vehicle. The brackets fit around the vehicle’s wheels and are then held in place with steel pins. Trailers are designed to transport motor vehicles safely and quickly. Hence, the growing need to transport vehicles safely from one place to another is expected to drive the growth of the global tow truck market in the near future.
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• Most trailer manufacturers globally are facing supply network disruptions, labor shortages and factory closures due to lockdown, which has further impacted trailer production.
• The pandemic disrupted demand and supply chain networks for trailers in the commercial industry as governments announced lockdowns in affected countries around the world.
• The travel ecosystem across the world has been significantly impacted due to lockdowns in affected regions, with the tow truck market witnessing a devastating decline due to the COVID-19 pandemic.
• The number of vehicles on the roads has reduced significantly due to the coronavirus pandemic, which in turn has severely impacted the tow truck market in affected countries across the globe.
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Increasing vehicle traffic on roads, rapid growth in e-commerce and logistics industry, and rising vehicle sales are driving the market growth. However, increasing investments by automakers to improve vehicle safety and reliability are expected to hamper the market growth. On the contrary, increasing urbanization in many parts of the world is expected to create investment opportunities in the market.
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The e-commerce and logistics industry has seen impressive growth in recent years due to the surge in demand to transport packages from one place to another. Business owners mainly invest in e-commerce and logistics to expand their work teams to gain a competitive advantage over rival companies. For example, Walmart, one of the world’s largest retailers, has invested $16 billion in Flipkart (an Indian e-commerce company). Hence, rising investments in e-commerce and logistics are expected to drive the growth of the trailer market during the forecast period.
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The increase in vehicular traffic on the roads has led to severe congestion on highways, which in turn delays commuters’ travel times and many drivers tend to stop inappropriately due to late arrivals. For example, approximately 65% of employees frequently complain about traffic jams during office hours. Therefore, increasing vehicle traffic is expected to drive the growth of the tow truck market.
Allied Market Research : https://www.alliedmarket Research .com/tow-truck-market/purchase-options
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• This study provides an analytical description of the Tow Truck industry along with current trends and future estimates to identify the upcoming investment areas.
• The report provides information related to the key drivers, restraints, opportunities, and challenges of the Trailer market.
• Quantitative analysis of the current market to highlight the growth of the Tow Trucks market.
• We can also confirm that trailers will remain a significant revenue shareholder in the global trailer market for the foreseeable future.
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• Who are the leading market players active in the trailer market?
• What current trends will influence the market in the coming years?
• What are the drivers, constraints and opportunities of the market?
• What predictions about the future might help in taking further strategic steps?
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• Dynamic
• A & A Truck & Auto Centers, Inc.
• Carlinville Truck Equipment
• Dual technology
• Danko products
• Jer-Dan
• Wedge
Godwin
• Ledwell & Sons.
• B&B Industries
David Correa
Allied Analytics LLP
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