Global Fifth Wheel Coupling Market anticipated to be Valued at US$ 563.8 Mn by the end of 2018

Future Market Insights delivers key insights on the global Fifth Wheel Coupling Market in its latest report titled ‘Fifth Wheel Coupling Market: Global Industry Analysis 2013-2017 and Opportunity Assessment, 2018-2028.’ The long-term outlook on the global Fifth Wheel Coupling Market remains positive with the market value expected to increase at a CAGR of 6.0% during the forecast period (2018-2028). Among product type, the semi oscillating segment is expected to expand at a significant CAGR in terms of value and volume over the forecast period. The global sales of fifth wheel coupling is estimated to be valued at US$ 563.8 Mn by the end of 2018. China is estimated to account for a value share of 26.8% in the global fifth Wheel Coupling Market by 2018 end and it is anticipated to retain its dominance throughout the forecast period. In this report, Future Market Insights throws light on drivers and restraints likely to impact the market during this period.

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The trucks and trailers manufacturers are preferring lightweight, high strength and durable products, in order to reduce the vehicle weight as well as CO2 emission and to increase the vehicle life span. The increasing demand of high load capacity trucks and trailers is expected to accelerate the growth of high load capacity fifth wheel coupling which will directly impact the growth of fifth wheel coupling market. Furthermore, to achieve fuel economy, heavy vehicle manufacturers are supporting the growth of light weight fifth wheel couplings

The increasing penetration rate of counterfeit products in the developing regions majorly china, is one of the key challenge for the fifth wheel coupling market. The counterfeit products lack quality standards and are a threat to vehicle and consumer safety. Furthermore, most importantly, they cause severe financial drawbacks to the companies operating in the fifth wheel coupling market by affecting their aftermarket sales. The decrease in the sales of aftermarket adversely impact the growth of fifth wheel coupling market.

Segmentation Analysis: The Fifth Wheel Coupling Market is segmented on the basis of material type segment includes, cast steel, cast iron, fabricated steel, aluminium and others (pressed steel and stamped steel); On the basis of material type, the cast iron segment is anticipated to dominate the market in terms of both value and volume over the forecast period.; Cast steel segment is estimated to grow at a relatively high CAGR as compared to other types except aluminium over the forecast period. Cast steel is expected to represent a total incremental opportunity of US$ 169.0 Mn between 2018 and 2028.; Fabricated steel segment is also anticipated to register high CAGR over the forecast period, owing to increasing use of these products in customized vehicles; The aluminum segment is expected to increase its share in the market, in terms of value and volume throughout the forecast period.

Regional Market Projections: China is expected to be the dominating region with a 26.8% market share in terms of revenue in the global Fifth Wheel Coupling Market by the end of 2018. North America is expected to hold a dominant revenue share after China in the global Fifth Wheel Coupling Market through 2028. The Western Europe market is projected to hold a significant market share in terms of value in the global Fifth Wheel Coupling Market., owing to presence of tier-1 players in the region

Vendor Insights: The report highlights some of the top companies operating in the global fifth wheel coupling market are 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, among others.

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This release was published on openPR.