Extendable trailer specs

Trailer Axle Market to Worth $9.36 Billion by 2031: Says

Portland, OR, Aug. 03, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the trailer axle market was estimated to reach $5.93 billion in 2021 and is projected to reach $9.36 billion by 2031, registering a CAGR of 4.8% from 2022 to 2031. The report provides a detailed analysis of the major pockets of investment, winning strategies, drivers and opportunities, market size. & estimates, the competitive landscape and changing market trends. Market research is a useful source of information for early adopters, new entrants, investors and shareholders in developing strategies for the future and strengthening their position in the market.

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Trailer Axles Industry Report Coverage and Details:

Report cover Details
Forecast period 2022–2031
base year 2021
Market size in 2021 $5.93 billion
Market size in 203 $9.36 billion
CAGR 4.8%
Number of pages in the report 303
Segments Covered Trailer Type, Axle Type, Capacity, Application, Sales Channel and Region.
Drivers Rapid expansion of automotive and transportation industries
Introduction of electric axle in trailers
Opportunities Increased use of lightweight materials for manufacturing axles
Emerging Emissions Regulations for Transport Refrigeration Units
holds back Fluctuating prices of raw materials used to manufacture axles

Covid-19 scenario-

  • The declining demand and supply outlook due to COVID-19 crisis restrictions in end-use industries such as manufacturing, electronics, textiles and apparel, and construction has had an impact on the world trailer axle market negatively.
  • Operations with limited labor capacity further aggravated the market situation. However, as the global situation returns to normal, the trailer axle market has also started to gain momentum.

The global trailer axle market is analyzed by trailer type, axle type, capacity, application, sales channel and region. The report contains an exhaustive analysis of the segments and their sub-segments using tabular and graphical representation. Investors and market participants can benefit from the breakdown and devise schemes based on the most revenue-generating and fastest-growing segments shown in the report.

On the basis of trailer type, the van and dry van segment accounted for almost a third of the total market share in 2021 and is expected to reign the roost by 2031. The other segments, however, would register the highest CAGR faster by 7.4% over the forecast period. Other segments analyzed in the report include Refrigerators, Chemicals & Liquids, Dumpsters & Trays.

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Based on axle type, the tandem axle segment contributed nearly two-fifths of the total market revenue in 2021 and is expected to lead by the end of 2031. The three or more segment three-axle, on the other hand, would exhibit the fastest CAGR of 6.1% throughout the forecast period. The single axle segment is also analyzed in the report.

Based on sales channel, OEM segment contributed 89.1% of the total market revenue in 2021 and is expected to dominate by 2031. Meanwhile, aftermarket segment would exhibit the highest CAGR 6.2% faster throughout the forecast period.

Based on application, the medium-duty trailer segment held more than two-fifths of the total market revenue in 2021 and is expected to dominate by 2031. The heavy-duty trailer segment, simultaneously, would manifest the fastest CAGR of 6.2% throughout the forecast. period. The light trailer segment is also assessed in the report.

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Based on the region, the Asia-Pacific market generated more than half of the total market revenue in 2021 and is expected to retain the lion’s share by 2031. The LAMEA region, meanwhile , would post the fastest CAGR of 7.1% during the forecast period. Other regions studied in the report include North America and Europe.

Major market players analyzed in the Global Trailer Axle Market report include BPW Group, Dana Incorporated, DexKo Global Inc., GuangZhou TND Axle Co., Ltd., Hendrickson Corporation, American Axle & Manufacturing, Inc., Dexter Axle Company, Hitachi Ltd. ., SAF-Holland, Schmitz Cargobull, Shandong Huayue, ZF Friedrichshafen AG, FUWA K Hitch and JOST Axle Systems, Meritor, Inc. These market players have adopted several strategies including partnership, expansion, collaboration, joint ventures and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments of key players.

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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

Pawan Kumar, the CEO of Allied Market Research, directs the organization towards the provision of high quality data and information. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

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