Overview of the Trailer Axle Market 2024-2033: Share, Size, Insights, and Forecast

Spread the love

Overview and Scope

The trailer axle is a shaft that sends the weight and power of the trailer to the wheels. The trailer may sway side to side or become unstable if the loads are too large or improperly balanced in relation to the shaft and wheels.

Sizing and Forecast

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..

To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/trailer-axle-global-market-report

Segmentation & Regional Insights

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

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.

Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8877&type=smp

Major Driver Impacting Market Growth

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.

Key Industry 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.

The trailer axle market report table of contents includes: