Trailer Axle Market Set to Surge - Key Insights You Must Know

Trailer Axle Market Size

The global Trailer Axle revenue was US$ 1490 million in 2022 and is forecast to a readjusted size of US$ 2162.5 million by 2029 with a CAGR of 5.4% during the forecast period (2023-2029).

Global Trailer Axle key players include Fuwa-K-Hitch, DexKo, JOST Axle Systems, Meritor, BPW Group, etc. Global top five manufacturers hold a share about 60%. Europe and USA is the largest market, both with a share about 30%, followed by China, with a share about 20 percent. In terms of product, 8,000-15,000 lbs is the largest segment, with a share about 40%. And in terms of application, the largest application is Light Weight Trailers, followed by Medium Weight Trailers, Heavy Trailers, etc.

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This report focuses on global and India Trailer Axle market, also covers the segmentation data of other regions in regional level and county level.

India is now the world's most populous country. According to IMF (its July update to its World Economic Outlook), India's GDP growth is projected at 6.1% in 2023, powered by domestic investment. First and foremost, the key factor in India's rapid economic growth is the huge supply and demand from a large population base. Demand and supply sides working in both directions to support India's economic stability.

India is a market full of opportunities, and the demand for Trailer Axle will continue to grow rapidly in the future.

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By Type
• Capacity: Lower than 8,000 lbs
• Capacity: 8,000-15,000 lbs
• Capacity: 15,000-25,000 lbs
• Capacity: More Than 25,000 lbs

By Application
• For Light Weight Trailers (Smaller than semi-truck trailers)
• For Medium Weight Trailers
• For Heavy Trailers (Larger than 10,000 lbs)

Key Companies
DexKo, Meritor, BPW Group, Fuwa-K-Hitch, JOST Axle Systems, SAF-HOLLAND, Hendrickson, Shandong Huayue, TND Trailer Axle

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This release was published on openPR.