Press release
Trailer Axle Market to be worth US$ 8,879.2 Mn by 2025
The global sales of automotive trailer axles is estimated to be valued at US$ 5,979.9 Mn in 2017 and is projected to grow at a CAGR of 5.1% over the forecast period and be valued at US$ 8,879.2 Mn by 2025. In terms of volume, the global trailer axle market stood at 3,168‘000 Units in 2017 and is expected to reach 4,549‘000 Units by 2025 end. The market is slated to expand at a CAGR of 4.6% in terms of volume over the forecast period.
According to a recently published report by Persistence Market Research titled “Trailer Axle Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2025),” manufacturers in the global trailer axle market are concentrating on a strategy of introducing new sales channel specific product offerings, such as high capacity trailers axles for heavy duty work to better address customer specific requirements. Moreover, market players have been channelizing efforts towards strengthening their distribution channels while also focusing on direct sales and financing options.
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By sales channel the market is segmented into OEM and aftermarket. In terms of sales channel, the OEM segment is expected to be the most attractive and dominating segment throughout the forecast period as trailer axles are rarely replaced.
On the basis of capacity the market is segmented into
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