Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Vehicle Trailer Hitch Market size was valued at USD 18.9 billion in 2024 and is projected to reach USD 43.5 billion by 2037, registering a CAGR of 6.6% during the forecast period from 2025 to 2037. In 2025, the industry size of vehicle trailer hitch is evaluated at USD 20.2 billion.
A key factor of the vehicle trailer hitch market’s robust growth is the heightened popularity of recreational activities. Camping, boating, off-road adventures, etc., are rapidly becoming cultural staples. Additionally, such activities can penetrate emerging markets. The popularity of recreational activities drives the sales of recreational vehicles (RVs), boats, and all-terrain vehicles (ATVs). These vehicles thus boost the demand for towing capabilities. Manufacturers of trailer hitches are poised to experience greater demand from regions with a growing proliferation of recreational activities. The table below highlights RV sales data in the U.S., a major market for recreational activities.
RV Sales Data (U.S.)
|
RV Industry Details |
Data (2022) |
|
RV Shipments |
493,268 shipments |
|
Annual Economic Impact |
USD 140 billion |
|
RV Manufacturers' Revenue Generation |
USD 73.7 billion |
|
Households owning an RV |
11.2 million |
Source: The RV Industry Association
These statistics highlight the growth potential of RVs integrated with towing accessories and cargo. With the heightened calls to experience outdoor lifestyles, manufacturers are expected to leverage a continuous demand for trailer hitches for towing purposes on RVs. Another factor expected to boost vehicle trailer hitch market growth is the rapid growth of e-commerce which transformed supply chains globally, creating a burgeoning necessity of transportation solutions for timely delivery. The surge in online retail has increased the demand for trailers equipped with reliable hitches to facilitate the movement of goods from distribution centers to end consumers. Additionally, logistics companies are increasingly investing in advanced trailer hitch systems to improve cargo efficiency, which is poised to create lucrative opportunities for vehicle trailer hitch solutions manufacturers.
Two recent investment drives from logistics companies boost the capital required to invest in modern vehicle trailer hitch solutions. For instance, in December 2024, RJW Logistics Group received strategic investment from Berkshire Partners to expand its geographic reach, and in October 2024, STG Logistics secured a USD 300 million financing to drive growth. Moreover, the expansion of logistics companies remains one of the primary end users of vehicle trailer hitches.
Vehicle Trailer Hitch Market: Growth Drivers and Challenges
Growth Drivers
- Surging demand for air cargo: The growing demand for air cargo is poised to assist the growth of the vehicle trailer hitch market, facilitating rapid and reliable transportation of goods. Moreover, the expansion necessitates efficient first-mile and last-mile logistics solutions, involving trailers equipped with robust hitch systems to transport cargo to and from airports. Additionally, industries that deal with perishable goods, high-value items, and time-sensitive shipments are fueling the demand for robust trailer hitch. The table below indicates the growth of air cargo demand.
Air Cargo Demand
|
Air Cargo Particulars |
Details |
|
Total demand in cargo ton-kilometers (CTKs) in 2024 |
Increase by 14.7% in compared to May 2023, 15.5% increase for international operations. Sixth consecutive month of double-digit year-on-year growth. |
|
Available cargo ton-kilometers (ACTKs) in 2024 |
6.7% increase in compared to May 2023 10.2% increase for international operations |
|
Purchasing Managers Index (PMI) for global manufacturing output |
52.6% expansion |
|
New Export Orders |
50.4% expansion |
|
Industrial Production |
0.5% increase month-on-month in May 2024 |
|
Global cross-border trade |
1.5% increase month-on-month in May 2024 |
Source: International Air Transport Association (IATA)
- Expansion of marine and automotive industries: The marine industry has seen a surge in trailer usage for transporting goods, ammunition, and heavy equipment. The vehicle trailer hitch market analysis highlights a sustained demand from the marine industry which is expected to benefit the sector’s expansion. Moreover, the automotive sector is experiencing an increase in trailer applications as they offer substantial cargo capacity and cost-efficient transportation solutions compared to traditional trucks. The trends highlight the expanding role of trailer hitches in facilitating efficient logistics. The table below indicates the global maritime trade data, and increase in the maritime trade is poised to remain a major factor in the rising demand for vehicle trailer hitch.
Global Maritime Trade
|
Trade Particulars |
Key Details |
|
Growth of the worldwide maritime trade in 2023 |
2.4% |
|
Arrivals in Cape of Good Hope in 2024 |
89% increase |
|
Global vessel ton-mile demand in 2024 |
3% increase |
Source: The United Nations Trade and Development Organization (UNCTAD)
Challenges
- Specialized demand from niche industries: While the demand for trailer hitches for niche applications provides opportunities to expand revenue, it also creates a unique challenge by adding to costs and lead times for manufacturers. Customized hitch systems must meet specific requirements, such as extreme durability for agricultural terrains or compatibility with aviation cargo transport systems. Moreover, the limited scalability of such niche products reduces profit margins creating constraints for smaller players to compete in high-demand scenarios.
- Durability issue in heavy-duty applications: A significant challenge for the vehicle trailer hitch sector lies in meeting the durability demands of heavy-duty applications, such as industrial and agricultural towing. Trailer hitches are subjected to extreme stress from heavy loads, rough terrains, and prolonged use in these sectors. Traditional hitch designs often fail to provide long-term reliability in harsh conditions, causing the risk of failures. Furthermore, the requirement for frequent maintenance can dissuade adoption. Despite the challenge, manufacturers are set to navigate the constraint by embracing technological advancements in lightweight and durable trailer hitch solutions.
Vehicle Trailer Hitch Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
6.6% |
|
Base Year Market Size (2024) |
USD 18.9 billion |
|
Forecast Year Market Size (2037) |
USD 43.5 billion |
|
Regional Scope |
|
Vehicle Trailer Hitch Segmentation
Product Type (Receiver Hitches, Weight Distribution Hitches, Gooseneck Hitches, Fifth Wheel Hitches, Pintle Hitches)
Receiver hitches segment is expected to capture over 53.5% vehicle trailer hitch market share by 2037. Receiver hitches are generating a larger revenue share due to their ease of use and widespread application across the recreational and commercial sectors. Consumer trends highlight that users seek ease in switching between various towing accessories, including cargo carriers, bike racks, and trailers of varying sizes creating a burgeoning demand for receiver hitches which solves this pain point. Moreover, additional factors that are poised to drive the demand are the rising percentage of RV ownership globally, the growing trend of adventure tourism, and heightened calls for last-mile delivery solutions.
The weight distribution hitches segment of the vehicle trailer hitches sector is predicted to expand throughout the stipulated timeframe. A key factor in the segment’s growth is the calls for weight distribution hitches to assist in towing heavy loads to mitigate issues such as trailer sway. The surge in popularity of RVs in North America, Europe, and certain major economies of APAC has created lucrative opportunities for the manufacturers. Additionally, the manufacturers that are successfully able to integrate ease of installation and durability are poised to have an advantage in the competitive vehicle trailer hitch market. Significant advancements within the segment are the advent of AI-powered solutions. For instance, in April 2023, Ford released the Ford Pro Trailer Hitch Assist for the Ford F-Series which leverages AI to automatically back up and align a truck’s hitch ball to a trailer coupler with a button push.
Application (Towing RVs, Hauling Boats, Transporting Equipment, Agricultural Use)
The towing RVs segment of the vehicle trailer hitch market is estimated to maintain a consistent demand throughout the stipulated timeframe of the sector’s analysis. The opportunities within the segment are fueled by the rising investments in travel trailers and fifth-wheel campers, which increases the demand for high-performance trailer hitches. Additional opportunities in the segment are for manufacturers to supply integrated sway control systems to improve user convenience and towing efficiency. With the sales of RVs increasing worldwide, the segment is expected to maintain its position as the largest end user of trailer hitch solutions. Moreover, the steady growth of the producer price index (PPI) of recreational vehicle dealers in an established market such as the U.S., as reported by the Federal Reserve Bank of St. Louis correlates with increased demand.
Our in-depth analysis of the global vehicle trailer hitch market includes the following segments:
Material; Towing Capacity
|
Product Type |
|
|
Application |
|
|
Material |
|
|
Towing Capacity |
|
Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.
Customize this ReportVehicle Trailer Hitch Industry - Regional Scope
North America Market Forecast
North America vehicle trailer hitch market is projected to account for revenue share of more than 33.5% by the end of 2037. Significant factors of the regional sector’s dominance are the proliferation of outdoor recreational activities and a strong demand for off-roading vehicles. The International Trade Administration estimated the U.S. as the largest market for RV sales in 2022, which creates ample opportunities for trailer hitch manufacturers to supply solutions. Moreover, figures released by the American Trucking Association in 2023 indicated that in the U.S. domestic truck tonnage shipped totaled 11.18 billion tons of freight transported. The increasing percentage of goods transport is poised to ensure sustained demand for trailer hitches in the region.
The U.S. vehicle trailer hitch market is predicted to hold a larger revenue share in North America. The U.S. market is underpinned by a burgeoning culture of road trips and outdoor adventures. Furthermore, the U.S. has an expansive network of national parks and highways which encourages RV ownership in the country. The favorable environment for RV ownership creates a steady demand for high-quality towing equipment. Additionally, the manufacturers are set to leverage the increasing demands from maritime trade bolstered by the growth of e-commerce. For instance, in February 2023, ZIM Shipping Lines, a major ocean carrier container company, announced doubling its service to the Port of Baltimore by expanding its e-commerce express frequency. The increased frequency of freight transport is poised to bolster demands for vehicle trailer hitch solutions in the U.S.
The Canada vehicle trailer hitch market is characterized by a surging interest in outdoor leisure activities which coincides with the growth in demand for robust trailer hitch solutions. The Kootenay Outdoor Recreation Enterprise reported that outdoor recreation contributed around USD 101 billion to the country’s economy as per the Outdoor Recreation Economic Report 2024. This highlights opportunities to expand applications of vehicle trailer hitch in the domestic vehicle trailer hitch market. Furthermore, the International Trade Administration estimated that Canada has remained the largest export market for RVs for manufacturers based in the U.S. indicating opportunities for the sector’s growth. Moreover, Canada has a well-established mining and forestry industry which requires heavy-duty trailer hitches for transporting resources across challenging terrains.
Europe Market Forecast
During the forecast period of the market’s analysis, the Europe vehicle trailer hitch market is poised to account for the fastest revenue growth after North America. Europe has a budding trekking and outdoor culture which has driven the sales of RVs in the region. The rising popularity of caravaning coupled with the increasing disposable income within Europe has driven the demand for reliable towing solutions. Moreover, Europe has a well-established automotive sector led by Germany which bolsters the growth of vehicle trailer hitch solutions. Additionally, the European Caravan Federation reported around 235,000 recreational vehicle registrations in Europe in 2020, and the post-pandemic figures are expected to triple by the conclusion of 2037.
The Germany vehicle trailer hitch market is set to hold a leading revenue share in Europe. The automotive industry of Germany is forecasted to be a major end user of trailer hitches due to surging demands to install towing solutions in vehicles. Moreover, the German vehicle trailer hitch market is characterized by stringent safety standards, which incentivizes manufacturers to invest in improving the scope of trailer hitch solutions. Additionally, domestic manufacturers within Germany are leveraging the growing demands and expanding aftermarket services in other regions. For instance, in October 2023, ACPS Automotive, a key player from Germany, announced the launch of its premium ORIS technology in the aftermarket of North America.
The France vehicle trailer hitch sector is poised to register robust growth during the forecast period. Manufacturers seeking to offer vehicle trailer hitch solutions in France are investing to develop advanced hitch systems that comply with the strict safety regulations set by the European Union (EU). Moreover, France has a strong automotive industry characterized by the presence of major players such as Renault, Citroën, Delage, etc., which are seeking to provide detachable hitch solutions for their offerings. Additionally, opportunities are rife in the vehicle trailer hitch aftermarket in France for manufacturers.
Companies Dominating the Vehicle Trailer Hitch Market
- Curt Manufacturing LLC
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Horizon Global Corporation
- B&W Trailer Hitches
- Reese Towpower
- ACPS Automotive
- Draw-Tite
- Andersen Hitches
- Husky Towing Products
- Westin Automotive Products Inc.
- Thule Group
- Bosal ACPS
- Ford
The vehicle trailer hitch market is positioned to expand during the forecast period. Key players in the market are investing to assimilate the usage of advanced hitch designs to improve stability and reduce sway to ensure maintaining a competitive advantage in the vehicle trailer hitch market. The advent of smart towing technology has benefited manufacturers in the production of electronic sway control and weight distribution systems. Moreover, mergers and acquisitions are expected to help key players expand their footprint in emerging economies.
Here are some key players in the vehicle trailer hitch market:
In the News
- In October 2024, Ford announced the next- generation of Ford Everest’s towing tech which makes hitching and hauling easier than ever. The go-anywhere abilities of the Next-Gen Ford Everest and 3.1T towing capacity ensure owners can take everything they need in outdoor adventures.
- In August 2024, ACPS Automotive strengthened its global presence with the establishment of Oris Automotive Systems Ltd. in China. The production is expected to begin in 2025.
Author Credits: Saima Khursheed
- Report ID: 7086
- Published Date: Feb 05, 2025
- Report Format: PDF, PPT
