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Light Car Trailer Market Potential Growth, Major Players, Essential Insights, Drivers And Forecast To 2032
Light Car Trailer Market Analysis
The Business Research Company's Light Car Trailer Global Market Report 2023 identifies rapidly expanding tourism industry as the major driver for the light car trailer market's growth in the forecast period. The tourism industry refers to the act of traveling outside one's area of residence or hometown, either domestically or internationally, for leisure, social, or business purposes. Light trailers refer to vehicles without motive power. Light car trailers such as utility trailers are used in traveling due to their compact travel mode, mostly used by motorsport enthusiasts for transporting vehicles, as a result, the rapidly expanding tourism industry increases the demand for the light car trailer.
The global light car trailer market size is expected to grow from $1.44 billion in 2022 to $1.51 billion in 2023 at a compound annual growth rate (CAGR) of 4.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global light car trailer market size is expected to reach $1.75 billion in 2027 at a CAGR of 3.8%.
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Major competitors in the light car trailer market are Aluma Ltd., Felling Trailers, Futura Trailers, Haulmark, Kaufman Trailers, Pace American, SylvanSport LLC, Woodford Trailers Ltd.
A key trend in the light car trailer market includes introduction of innovative electric travel trailers. Major companies operating in the market are advancing toward the development of electric vehicles to sustain their position in the market. For instance, in August 2022, Bowlus, a US-based manufacturing company providing luxury travel trailers, launched the all-electric Volterra, the world's first all-electric travel trailer. This trailer is the first travel trailer with an induction cooktop and the first recreational vehicle with high-speed satellite internet. This trailer recreational vehicle weighs 3250 pounds with a payload of 750 pounds. This model uses 17 kWh of lithium iron phosphate batteries, which is more than 100 percent larger than others. Additionally, it features 20A outlets for emergency EV charging, increasing the EV emergency charging range to approximately 65 miles due to the increased battery capacity.
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The light car trailer market is segmented -
1) By Type: Utility Light Car Trailers, Recreational Light Car Trailers
2) By Design: Open Light Car Trailers, Enclosed Light Car Trailers
3) By Axle: Single Axle Light Car Trailers, Multi Axle Light Car Trailers
4) By Application: Tourism, Transportation, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the light car trailer market.
The Business Research Company's "Global Light Car Trailer Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Light Car Trailer Market Include:
1. Executive Summary
2. Light Car Trailer Market Characteristics
3. Light Car Trailer Market Trends And Strategies
4. Light Car Trailer Market - Macro Economic Scenario
5. Light Car Trailer Market Size And Growth
……
26. Africa Light Car Trailer Market
27. Light Car Trailer Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Light Car Trailer Market
29. Light Car Trailer Market Future Outlook and Potential Analysis
30. Appendix
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