Press release
Trailer Axle Market Size, Share, Growth Status, Technology, Key Players And Forecast 2033
Trailer Axle Market Size
Trailer Axle Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $5.27 billion In 2028 At A CAGR Of 5.3% :
The trailer axle market size has grown strongly in recent years. It will grow from $4.07 billion in 2023 to $4.28 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to growing transportation and logistics industry, demand for specialized trailers, stringent emission regulations, focus on fuel efficiency, safety regulations.
The trailer axle market size is expected to see strong growth in the next few years. It will grow to $5.27 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to demand for electric and hybrid trailers, green initiatives and sustainability, integration of advanced safety features, focus on lightweight materials, adoption of predictive maintenance. Major trends in the forecast period include customization for urban mobility, integration of telematics and iot technologies, durable and low-maintenance designs, adoption of disc brakes over drum brakes, partnerships for innovation.
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Trailer Axle Market Major Segments
The trailer axle market covered in this report is segmented -
1) By Axle Type: Single Axle , Tandem axle, Three or more than three-axle
2) By Trailer Type: Dry van and box , Refrigerator, Chemicals and Liquid, Tippers, Flatbed, Other Trailers
3) By Application: Lightweight Trailers, Medium-weight Trailers, Heavy Trailers
Key Driver - Driving The Future The Trailer Axle Market Accelerates With The Global Surge In Automobile Demand
The rising prominence of the automobile market is expected to drive the trailer axle market. The growing economy and rising standard of living have changed purchasing power, and increased the demand for automobiles. Moreover, due to COVID-19, there is a sudden increase in demand for personal mobility worldwide. The surge in automotive demand has led to increased production and demand for trailer axle. For instance, in April 2022, according to a report published by European Automobile Manufacturers Association, 79.1 million motor vehicles were produced worldwide in 2021, a 1.3% increase over 2020. Therefore, the increasing prominence of the automobile market will drive the trailer axle market.
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Prominent Trend - Technological Advancements Reshape The Landscape Of The Trailer Axle Market
Technological advancement is a key trend in the trailer axle market. Major players in the trailer axle market are innovating new technologies, such as e-axle, to sustain the market. An e-axle combines one or more electric motors with power-control electronics, two- or three-speed reduction gearing, and the axle's center. For instance, in 2022, Woolworths Group, a Sydney-based retailer, conducted testing of Australia's first """"e-axle trailer,"""" which produces electricity using the kinetic energy of its axle and wheels. A battery that can power the refrigeration system and reduce diesel consumption is fueled by the electricity produced by the trailer's axle and wheels.
Trailer Axle Market Players
Major companies operating in the trailer axle market report are DexKo Global Inc., Meritor Inc., BPW Bergische Achsen KG, Guangdong Fuwa Engineering Group Co. Ltd., JOST Werke AG, SAF-Holland S.A., Hendrickson Holdings LLC, Shandong Huayue Vehicle Parts Co. Ltd., TND Trailer Axle Co. Ltd., Schmitz Cargobull AG, York Transport Equipment (Asia) Pte Ltd., Dexter Axle Company, American Axle & Manufacturing Inc., Jiangling Motors Corporation Group Co. Ltd., Dana Incorporated, ZF Friedrichshafen AG, Redneck Trailer Supplies, Lippert Components Inc., Al-Ko Kober SE, GKN Wheels & Structures Ltd., TSE Brakes Inc., Haldex AB, AxleTech International SAS, Tuthill Transfer Systems, Ingersoll Axles Corp., Torsion-Flex, Rockwell American, Hayes Axle Inc., Timbren Industries Inc., Southwest Wheel Co., Kodiak Trailer Components Inc., Tie Down Engineering Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the trailer axle market in 2023. The regions covered in the trailer axle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Trailer Axle Market Report Structure
3. Trailer Axle Market Trends And Strategies
4. Trailer Axle Market - Macro Economic Scenario
5. Trailer Axle Market Size And Growth
…..
27. Trailer Axle Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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