Enjoy complimentary customisation on priority with our Enterprise License!
The automotive winches system (AWS) market size is estimated to increase by USD 151 million between 2023 and 2028. The market size is forecast to grow at a CAGR of 5.27%. The growth of the market depends on several factors including the availability of affordable winches with good quality and quick installation, rising preference for pickup trucks in emerging countries, and higher payload capacity and trailer-sway control features driving demand for trailer recovery systems. The market is witnessing significant growth due to the availability of affordable winches with good quality and quick installation. This trend is particularly prominent in regions with a high prevalence of off-road vehicles and harsh terrain conditions. Additionally, the development of advanced winch systems with remote control clutch systems is gaining traction, providing users with greater convenience and safety. However, the market is also facing challenges due to legal bans on performance pickup trucks and all-terrain vehicles (ATVs) in cities, which may limit the demand for winches in these segments. Despite these challenges, the market is expected to continue growing, driven by the increasing popularity of off-roading and adventure sports.
_Market_size_abstract_2023_v1.jpg?format=webp)
To learn more about this report, View Report Sample
The market is witnessing significant growth due to the increasing demand for electric and hydraulic winches in various vehicle types, including pickup trucks, passenger vehicles, light commercial vehicles, heavy commercial vehicles, mini trucks, and high-end automobiles. The market is driven by factors such as automobile sales and vehicular traffic, which necessitate the need for traffic management and automobile safety. Electric winches and hydraulic winches are the two primary types of winches used in automotive applications. These winches use a motor and gear train to reel in heavy-duty cables or synthetic ropes. The use of synthetic ropes and steel cables in winches has gained popularity due to their durability and weight advantages. Automatic braking systems are also integrated into automotive winches to ensure safe and efficient operation. Remote controls are increasingly being used to enhance the convenience and ease of use of winches. The market for automotive winches is segmented based on vehicle types, with large commercial trucks and passenger cars being the major segments. SUVs and light commercial vehicles are also significant contributors to the market growth. The demand for automotive winches is expected to remain strong due to the increasing popularity of off-road activities and the need for safety and efficiency in various industries. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising preference for pickup trucks in emerging countries is one of the key factors driving the growth of the market. Pickup trucks are conventional models that can be used as passenger and commercial vehicles. This dynamic nature of the vehicle is made possible by the vehicle design featuring a closed passenger cabin with an open cargo area with a low tailgate and sides. The open cargo bay allows everyone to customize the vehicle to the user's needs. It can be surrounded by a larger cabin for cargo or converted into a passenger lounge.
Moreover, the pickup's powerful engine generates significant emissions; As a result, countries like China have banned the sale of pickup trucks due to their high emissions since 2005. China and India are the main emerging markets for LCVs in 2022. As a result, China lifted the ban on the sale of pickup trucks in 2016 and automakers increased their exports of pickup trucks to China. China and India are expected to drive the growth of the global market in emerging countries during the market forecast period.
The development of advanced winch systems with remote control clutch systems is one of the primary trends in the market. Market players are now offering high-performance winch systems for extreme and heavy-duty applications. The global market for trailer recovery systems is currently seeing the growing adoption of fully electronically controlled winch systems. Advanced automotive electric winch systems come with high-profile gears that operate similarly to automotive gear sets, allowing them to operate efficiently in heavy-duty towing applications.
Furthermore, the integration of a wireless remote control clutch to control operations such as winch entry, exit, and free roll brings more convenience to the system. In addition, most advanced winch systems have a multi-information remote control that provides information on various systems such as vehicle battery level, winch engine temperature, and various control settings. Besides, the availability of switchable control packages allows for different mounting positions. Thus, these factors will drive the growth of the global AWS market during the Market forecasting period.
Increasing competitive value chains leading to diminishing profit margins for suppliers is the challenge that affects the growth of the market. With the rise of electronic content in pickup trucks, automotive OEMs must partner with suppliers and experts outside the traditional auto industry to meet consumer demand. This will require changes in the operations of these OEMs. Pickup truck OEMs will also need to move towards more standardized interfaces, systems, and modules for infotainment and telecommunications installations. In addition, pickup OEMs also need to work closely not only with electronics suppliers but also with electronics OEMs.
Moreover, pickup dealers will also need to work on improving their online capabilities so that they can meet consumer demand through physical stores and online retail channels. They will also need to prioritize R&D and engineering projects so they can deliver the best value for money, differentiated features, and trucks that comply with safety and environmental regulations. Hence, these factors are expected to pose a challenge to the growth of the global AWS market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The electric winches segment is estimated to witness significant growth during the forecast period. The electric automotive winch systems have most of their applications for non-industrial purposes. The electric winch works quite well with enough traction on the tap. The winch can come with ropes or cables reinforced with steel or composites giving the user the flexibility to choose according to the application.
_Market_segments_abstract_2023_v2.jpg?format=webp)
Get a glance at the market contribution of various segments View the PDF Sample
The electric winches segment was the largest segment and was valued at USD 275.30 million in 2018. Electric winches are commercially available in a variety of sizes ranging from 2,000 pounds. at 30,000 lbs. These winches feature multi-stage operating hardware to increase efficiency and reduce engine stress. Players operating in the Electric segment, AWS, offer winch systems with a wider range of configurations and prolific designs. These factors will drive the growth of the electric automotive winch segment in the global market during the forecast period.
_Market_regions_abstract_2023_geo_v2.jpg?format=webp)
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Consumer preference for large vehicles such as high-performance pickup trucks and full-size SUVs in the US and Canada is supporting the growth of the AWS market in North America. Additionally, consumer trends toward vehicles with high ground clearance, off-road ability, and towing capacity are some additional factors driving the pickup and SUV market in North America. This drives the market.
Furthermore, North America serves as a key hub for leading automakers operating in regional and global markets. Automakers are moving their production facilities to Mexico due to low labor costs and lower operating costs. This will further increase the penetration rate of automotive electronics in the region, especially in South and Central American countries. Therefore, such factors will fuel the AWS market in North America during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is witnessing significant growth due to the increasing demand for electric and hydraulic winches in various automotive applications. Automotive winches are essential components used in pickup trucks, passenger vehicles, light commercial vehicles, heavy commercial vehicles, mini trucks, and high-end automobiles. These winches come equipped with heavy-duty cables, drums, motors, gear trains, and cable systems. Remote controls, automatic braking systems, and wireless control systems are some of the advanced features that are gaining popularity in the market. The use of synthetic ropes and eco-friendly materials in winch designs is also on the rise, making them more efficient and environmentally friendly. Efficient power systems and customizable winch systems are other key trends in the market. The market is also driven by the growing demand for automotive winches in traffic management, vehicle customization, and automobile safety, especially in areas prone to natural disasters. The increasing automobile sales and vehicular traffic, coupled with the need for precision, light weight, strength, stability, and high features in high-performance cars, are also contributing to the market growth. The market is expected to continue its growth trajectory due to the increasing purchasing power of consumers and space crunch issues in road infrastructure.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
162 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 5.27% |
|
Market growth 2024-2028 |
USD 151 million |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
4.91 |
|
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
|
Performing market contribution |
North America at 42% |
|
Key countries |
US, China, Germany, Canada, and France |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Aeroklas Asia Pacific Group, American Wheel and Tire 2 Ltd., BHW Group Ltd., Dover Corp., Ingersoll Rand Inc., Ironman 4X4 Pty Ltd., MacArtney AS, Mile Marker Industries, Naust Marine ehf., Pierce Arrow Inc., Ramsey Industries, Red Winches Ltd., Robert Bosch GmbH, Smittybilt Inc., Stemmler Winches, Superwinch, T Max Products Pty Ltd., Trelleborg AB, Westin Automotive Inc., and Winches Inc. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, market growth and trends, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
|
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Vehicle Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Get the report (PDF) sent to your email within minutes.
Complimentary full Excel data with your report purchase.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
