Press release
Fifth Wheel Coupling Market to touch a valuation of nearly US$ 700 Mn in 2025
Advanced Material Technology Positively Impacting the Global Fifth Wheel Coupling Market : The adoption of advanced material technology in automobile components increases the load capacity as well as strength of the component. The increased load capacity of fifth wheel couplings results in increasing productivity, which in turn is expected to fuel the growth of the fifth wheel coupling market in the coming years. Moreover, stringent emission standards in countries, such as Germany, the U.K. and Italy, are compelling automotive manufacturers to make fuel efficient vehicles.
To achieve fuel economy, auto makers are trying to reduce the weight of vehicles and their components, which will support the demand for light weight automotive fifth wheel couplings. These advanced material fifth wheel couplings are relatively light weight and hence, improve the durability and performance of vehicles. These features are expected to propel the growth of the fifth wheel coupling in the market in the coming years.
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Global Fifth Wheel Coupling Market: Segmentation and Forecast : The global fifth wheel coupling market is segmented on the basis of product type, operation, capacity, sales channel and region.
By product type, the semi oscillating segment was estimated to be valued at nearly US$ 294 Mn in 2017 and is anticipated to reach a valuation of nearly US$ 445 Mn in 2025, displaying a CAGR of 5.3% during the period of assessment 2017-2025.By operation, the mechanical segment is expected to reach a valuation of nearly US$ 460 Mn in 2025, exhibiting a CAGR of 4.7% during the period of forecast.By capacity, the below 20 tons segment was estimated to be valued at nearly US$ 75 Mn in 2017 and is likely to reach a valuation of nearly US$ 110 Mn in 2025.By sales channel, the OEM segment is anticipated to exhibit a CAGR of 5.3% during the period of forecast.By region, the Asia Pacific fifth wheel coupling market was estimated to be valued at nearly US$ 181 Mn in 2017 and is anticipated to reach a valuation of US$ 310 Mn in 2025.
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In this report, some of the key players functioning in the global fifth wheel coupling market have been profiled, which include players such as SAF-Holland S.A, JOST Werke AG, Guangdong Fuwa Engineering Group Co., Ltd., Sohshin Co. Ltd., Zhenjiang Baohua Semi-Trailer Parts Co. Ltd, Fontaine Fifth Wheel, Tulga Fifth Wheel Co., RSB Group, Hunger Hydraulics Group, ACCL (PL Haulwel Trailers), TITGEMEYER Group, FOSHAN YONGLITAI AXLE CO.,LTD., Xiamen Wondee Autoparts Co., Ltd., Shandong Fuhua Axle Co., Ltd. and Land Transport Equipment Co.,Ltd.
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