Trailer Axle Market Is Projected to Reflect a High Double-Digit CAGR through 2025

The global sales of automotive trailer axles is estimated to be valued at US$ 5,979.9 Mn in 2017 and is projected to grow at a CAGR of 5.1% over the forecast period and be valued at US$ 8,879.2 Mn by 2025. In terms of volume, the global trailer axle market stood at 3,168‘000 Units in 2017 and is expected to reach 4,549‘000 Units by 2025 end. The market is slated to expand at a CAGR of 4.6% in terms of volume over the forecast period. According to a recently published report by Persistence Market Research titled “Trailer Axle Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2025),” manufacturers in the global trailer axle market are concentrating on a strategy of introducing new sales channel specific product offerings, such as high capacity trailers axles for heavy duty work to better address customer specific requirements. Moreover, market players have been channelizing efforts towards strengthening their distribution channels while also focusing on direct sales and financing options.

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Global Trailer Axle Market: Key Regional Takeaways

The North America market is expected to witness relatively steady growth during the forecast period
Substantial growth in the Latin America market is attributed to the increasing demand for trailer axles by OEMs to meet growing demand from Brazil and the rest of Latin America
Significant trailer production is anticipated in the European market. The trailer axle market in Europe is anticipated to witness relatively stable growth during the forecast period
Asia Pacific is predicted to witness robust growth owing to a growing trailer production in China and ASEAN countries
Turkey, South Africa, and Iran are expected to dominate the Middle East & Africa trailer axle market

Global Trailer Axle Market: Forecast by Sales Channel

By sales channel the market is segmented into OEM and aftermarket. In terms of sales channel, the OEM segment is expected to be the most attractive and dominating segment throughout the forecast period as trailer axles are rarely replaced.

Global Trailer Axle Market: Forecast by Capacity

On the basis of capacity the market is segmented into

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