Fifth wheel coupling Market Future Prospects and Opportunity Assessment Upto 2031, TMR Study

The global fifth wheel coupling market is expected to surpass US$ 500 Mn by 2027, expanding at a CAGR of more than 4% during the forecast period. The market for fifth wheel coupling is anticipated to expand at a significant growth rate during the forecast period, owing to the expansion of industries and improving road infrastructure.
The fifth wheel coupling market is primarily driven by rising global population, which in turn has considerably boosted the demand for consumer goods, thus significant expansion of agriculture and manufacturing industries fueled the demand for transportation sources. This, in turn, is boosting the demand for heavy trucks that are integrated with fifth wheel couplings. Moreover, improvement in road connectivity is propelling the market for fifth wheel coupling. Cost-effectiveness of transportation by trailer trucks is a key factor driving the fifth wheel coupling market

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐬𝐚𝐦𝐩𝐥𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=48747

The global fifth wheel coupling market has been segmented based on mounting type, coupling, material, operation, load carrying capacity, number of pins, application, sales channel, and region. In terms of mounting type, the fixed segment dominated the global fifth wheel coupling market owing to its extensive utilization in heavy trucks that witness significant demand for fifth wheel coupling. Numerous advantages of sliding fifth wheels have made it highly popular; however, they are mostly utilized to trail recreational vehicles (RVs) and trailers attached behind light trucks.
In terms of coupling, semi-oscillating segment is a highly attractive segment owing to its application in most of the on-road trailer trucks, as it provides better stability as compared to the other segments. Fully oscillating fifth wheels are mostly employed in off-road vehicles for greater movement of linkage to adjust according to the driven surfaces. Compensating coupling linkage is highly unstable and it makes handling of the vehicle comparatively challenging.

In terms of material, the steel segment is likely to dominate the global market during the forecast period, as steels possess high tensile strength and is cost-effective as compared to rest of the segments. Furthermore, aluminum fifth wheels couplings are only manufactured by SFA Holland in very limited numbers. Aluminum fifth wheel couplings are significantly lighter than steel couplings, which make the trailer tractor more efficient as compared to the tractors installed with steel fifth wheels. However, aluminum fifth wheel couplings are comparatively more expensive and hence, witness lower demand as compared to steel couplings.

𝐆𝐞𝐭 𝐚 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭- https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=48747

Based on operation, mechanical was a highly attractive segment of the fifth wheel coupling market, the mechanical coupling employs conventional technology and is suitable for most vehicles, while hydraulic and pneumatic operated couplings are mostly used in very heavy trailer trucks in order to adjust the position of the fifth wheel of tractors. In terms of load carrying capacity, less than 20 tons, 20-30 tons, and 30-45 tons segments held notable shares of the market owing to higher demand for couplings in these segments. High demand of fifth wheel for light trucks is

In terms of sales channel, OEM was a leading segment of the fifth wheel coupling market, as most fifth wheels possess significantly high lifespan and usually last the entire life of the tractor. The aftermarket segment is primarily expanding due to rising demand of fifth wheels for light trucks.

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠- https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=48747

In terms of region, Asia Pacific held a prominent share of the global market, followed by North America, in 2018 China accounted for a major share of the market in Asia Pacific, due to large volume of production of industries, which demand a large trucking industry for the transportation of cargo, as the country is a prominent exporter, globally. The fifth wheel coupling market is expected to expand at higher pace during the forecast period in countries with better road connectivity and business opportunities. The U.S. has a prominent trucking industry coupled with good road infrastructure and connectivity among all states, which led North America to hold a significant share of the global fifth wheel coupling market

𝐊𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐟𝐢𝐟𝐭𝐡 𝐰𝐡𝐞𝐞𝐥 𝐜𝐨𝐮𝐩𝐥𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐚𝐫𝐞: JOST Werke AG, SAF-HOLLAND S.A., SOHSHIN Co.,Ltd., Fontaine Fifth Wheel, RSB Group, Tulga Fifth Wheel Co., Guangdong Fuwa, Hunger International GmbH, TITGEMEYER GmbH & Co. KG, Foshan Yonglitai Axles Co., Ltd, Shandong Fuhua Axle Co.,Ltd., Magnum Trailer & Equipment Inc., York Transport Equipment (Asia) Pte Ltd., Land Transport Equipment Co.,Ltd, CM Trailer Parts Limited, and Horizon Global Corporation.

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers market analysis reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:

Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: 1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com

This release was published on openPR.