Technavio has announced its latest market research report titled 
Automotive Winches System (AWS) Market by Type and Geography - Forecast and Analysis 2021-2025

Technavio has announced its latest market research report titled Automotive Winches System (AWS) Market by Type and Geography - Forecast and Analysis 2021-2025

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NEW YORK, Nov. 19, 2021 /PRNewswire/ -- According to the report titled "AWS Market - Forecast and Analysis Report 2021-2025", the market is expected to have a YOY growth rate of 6.74% in 2021 and is expected to grow at a CAGR of 8.49% between 2020 and 2025. The report segments the market by type (electric winches and hydraulic winches) and geography (North America, Europe, APAC, South America, and MEA).

View FREE Sample: to know additional highlights and key points on various market segments and how they will impact in coming years.

Vendor Insights

The automotive winches system (AWS) market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

  • The players in the market are leveraging their industry expertise and technical know-how to broaden the functionality and capabilities of trailer recovery systems.
  • The competitive environment in this market is likely to intensify with the growing demand for off-road vehicles, in addition to the increasing volume sales of pickup trucks and SUVs.
  • The global AWS market comprises some well-known and established players that are involved in the design, manufacture, and supply of winch systems to both automotive OEMs and the aftermarket.
  • WARN Industries Inc.- In August 2021, the company announced the acquisition of Fab Fours, Inc., a manufacturer of fabricated mounting solutions for trucks and Jeeps. In March 2020, the company announced the acquisition of Factor 55, a manufacturer of highly-engineered rigging hardware for closed system winching.

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

  • Bosch Rexroth AG
  • Ironman 4X4 Pty Ltd.
  • Mile Marker Industries LLC
  • Pierce Arrow Inc.
  • Ramsey Winch Inc.
  • Smittybilt Inc.
  • TJM Products Pty Ltd.
  • T-Max Products Pty Ltd.
  • WARN Industries Inc.
  • Westin Automotive Inc.

Find additional highlights on the growth strategies adopted by vendors and their product offerings. Read FREE Report Sample.

Geographical Market Analysis

  • North America is the largest market for automotive winches systems. The region will generate growth across all the years of the forecast period between 2020 and 2025.
  • Factors such as the high-volume sales of pickup trucks and SUVs in North American countries are creating significant market opportunities for AWS manufacturers in North America.
  • Consumer preference for large and big vehicles, such as performance pickup trucks and larger SUVs in the US and Canada, is driving the growth of the AWS market in North America.
  • In addition, other factors such as declining gasoline prices per gallon, increasing credit availability, the emergence of new models, and better leasing options have fueled the growth of the off-road vehicles market in the US, in turn, boosting the AWS market growth.

Key Segment Analysis

  • The electric winches segment held 65% of the overall market share in 2020 and will continue to maintain its dominance on the market during the forecast period.
  • Electric winches work reasonably well with enough pulling power on tap. The winches may come with a rope or a cable made from strengthened steel or synthetic material, thereby giving users the option to choose from, depending on the application.
  • The electronically controlled winch system operates using the power generated by the vehicle's battery and, therefore, can be operated even if the vehicle's engine is turned off.
  • In addition, the electric winch generates slightly less towing power than a hydraulic winch, thus, increasing their adoption in the flourishing automotive sector across the globe.
  • The electric automotive winches system market is expected to grow at a rapid pace owing to the development of new technologies and innovative features.

Know more about this market's geographical distribution and along with the detailed analysis of other contributing segments. https://www.technavio.com/report/automotive-winches-system-aws-market-industry-analysis

Key Market Drivers, Trends & Challenges:

Key Driver- Availability of affordable winches with good quality and quick installation

  • The global AWS market is a primary segment of the global trailer recovery system market, which has seen improvements and developments in system design and functionalities to deliver superior performance in towing applications.
  • Improvements in technology and increased competition in the market have made automotive winch systems affordable, reliable, and durable.
  • The advances in winch system design have made way for quicker installation, wherein most of the winch systems incorporate a solenoid design for optimum delivery performance.
  • The availability of such low-priced automotive winch systems with good in-built quality from well-established players is driving the growth of the global AWS market.

Key Trend- Growing market for SUVs and pickup trucks in the US automotive industry

  • The preference for off-road vehicles, such as pickup trucks and big sport utility vehicles (SUVs), has been increasing in the US automotive market.
  • Manufacturers are equipping their vehicles with a higher payload capacity and integrating many new technologies such as trailer-sway control,  which are enhancing the capabilities of pickup trucks, SUVs. full-size and heavy-duty off-road trucks.
  • Manufacturers of premium SUVs and pickup trucks are offering other driver-assist systems like hill start assist and hill descent control, which aid the driver in maintaining a certain level of brake pressure for a short time.
  • With the advent of these technologies, we expect that the trailer recovery systems, such as automotive winch systems will continue to grow during the forecast period.

Key Challenge- Legal ban on performance pickup trucks and all-terrain vehicles

  • The adoption and penetration rate of automotive winch systems primarily depends on the growth of the pickup trucks and SUVs market. However, legal limitations or norms on the use of such vehicles can have adverse implications for the global AWS market.
  • Off-road vehicles, such as performance pickup trucks and ATVs, are a source of danger to the lives of motorists, bicyclists, and pedestrians. Therefore, city-related bans and limitations on the use of such vehicles may prove to be critical for the global AWS market.
  • Stringent regulatory norms on carbon emissions also pose a potential threat to pickup truck market and commercial SUV market. Therefore, any changes or factors that can affect the market for these vehicle segments can have negative consequences on the global AWS market as well.

View free sample for highlights on market Drivers, Trends & Challenges affecting the AWS market.

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Autonomous Vehicles Market by Vehicle Type and Geography - Forecast and Analysis 2021-2025

Automotive Aftermarket Market by Vehicle Type and Geography - Forecast and Analysis 2022-2026

Automotive Winches System (AWS) Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 8.49%

Market growth 2021-2025

3935.11 th units

Market structure

Fragmented

YoY growth (%)

6.74

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 64%

Key consumer countries

US, Germany, Canada, China, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Bosch Rexroth AG, Ironman 4X4 Pty Ltd., Mile Marker Industries LLC, Pierce Arrow Inc., Ramsey Winch Inc., Smittybilt Inc., TJM Products Pty Ltd., T-Max Products Pty Ltd., WARN Industries Inc., and Westin Automotive Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us:

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research

Jesse Maida

Media & Marketing Executive

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UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com/

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SOURCE Technavio

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