Press release
Light Car Trailer Global Market Predicted to Augment and Reach over $1.86 Billion at a CAGR of 4.4% By 2028 | Aluma Ltd., Felling Trailers, Futura Trailers, Haulmark, Kaufman Trailers
Light Car Trailer Global Market
The light car trailer market size is expected to see steady growth in the next few years. It will grow to $1.86 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to growth in electric and hybrid vehicles, rise in adventure tourism, focus on lightweight and aerodynamic designs, adoption of sustainable materials, increased popularity of camper trailers, global tourism trends.. Major trends in the forecast period include multi-functional trailers, advanced safety features, smart trailer technology, customization options, integration of aerodynamic features, online sales and direct-to-consumer models..
Market Overview -
Light trailers refer to vehicles without motive power. Trailer lacks pedals and a motor to propel the wheels. It is designed to carry the maximum load a trailer can carry, which is normally set by the manufacturer, and is used to move lightweight cars behind an automobile or a truck.
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Tourism Boom Fuels Growth Of Light Car Trailer Market
The rapidly expanding tourism industry is expected to propel the light car trailer market going forward. 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. For instance, in 2022, according to The World Tourism Organization (UNWTO), an UN-based specialized agency, the economic contribution of tourism in 2021 was US$1.9 trillion, higher than US$1.6 trillion in 2020. Thus, the rapidly expanding tourism industry drives the light car trailer market.
Competitive Landscape -
Major companies operating in the light car trailer market report are Aluma Ltd., Felling Trailers, Futura Trailers, Haulmark, Kaufman Trailers, Pace American, SylvanSport LLC, Woodford Trailers Ltd., Aluminum Trailer Company, Doepker Industries, East Manufacturing Company, Fontaine Trailer Company, Great Dane Trailers, Heil Trailer International, Fruehauf Trailer Corporation, Big Tex Trailers, Featherlite Trailers, PJ Trailers, Triton Trailers, Sundowner Trailers, Echo Trailers, Bri-Mar Trailers, Wells Cargo, Cargo Express, Midsota Manufacturing, Sure-Trac, Stealth Trailers, Mission Trailers, Load Trail, Diamond C Trailers, Maxey Trailers, Look Trailers, Homesteader Trailers, Moritz International, Rice Trailers, Doolittle Trailer Mfg, Calico Trailers, Mirage Trailers, Top Hat Trailers, Lark United Manufacturing .
Innovative Electric Travel Trailers Revolutionize Light Car Trailer Market
The introduction of innovative electric travel trailers is a key trend gaining popularity in the light car trailer market. 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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Key Segments -
The light car trailer market covered in this report 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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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