Dublin, Oct. 24, 2023 (GLOBE NEWSWIRE) -- The "Trailer Axle Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global trailer axle market is on the path to substantial growth, with projected revenues of $4.07 billion in 2023, up from $3.87 billion in 2022, reflecting a commendable compound annual growth rate (CAGR) of 5.2%. This growth momentum is expected to persist, resulting in a market size of $4.90 billion by 2027, driven by a CAGR of 4.8%.
Major players in the trailer axle market, including DexKo Global Inc., Meritor Inc., BPW Group, Fuwa-K-Hitch, JOST Axle Systems, SAF-Holland, Hendrickson Holdings LLC, Shandong Huayue, TND Trailer Axle, Schmitz Cargobull AG, JOST Achsen Systeme GmbH, York Transport Equipment (Asia) Pte Ltd., Dexter Axle Company, FUWA K Hitch, American Axle & Manufacturing Inc., Shandong Huayue Vehicle Parts Co. Ltd., Jiangling Group, SAF-Ho Hendrickson USA LLC, BPW Bergische Achsen KG, Dana Incorporated, ZF Friedrichshafen AG, and Redneck Trailer Supplies are strategically positioned to capitalize on this burgeoning market.
Reasons to Purchase
- Global Perspective: Gain comprehensive insights into the market across 50+ geographies.
- COVID-19 Impact: Understand how the market has responded to the pandemic as its effects wane.
- Geopolitical Factors: Assess the impact of the Russia-Ukraine war on agriculture, energy, mineral commodity supply, and its direct and indirect influence on the market.
- Inflation Impact: Measure the effects of high global inflation on market growth.
- Regional and Country Strategies: Create informed strategies based on local data and analysis.
- Growth Segments: Identify promising growth segments for investment.
- Competitive Advantage: Outperform competitors using forecast data and key market trends.
- Market Shares: Understand customer preferences based on the latest market shares.
- Performance Benchmarking: Compare performance against key competitors.
- Presentation Support: Enhance both internal and external presentations with reliable, high-quality data and analysis.
A trailer axle is a crucial component that transfers the weight and power of a trailer to its wheels. Proper axle selection and balance are essential to prevent trailer sway or instability caused by excessive loads or improper weight distribution.
Types of Trailer Axles
- Single Axle: Designed for city, local, and regional deliveries, typically with two or more wheels within one transverse vertical plane.
- Tandem Axle: Commonly used for various applications, including dry van, refrigerator, chemicals and liquids, tippers, flatbeds, and more.
- Three or More Axles: Suitable for heavy trailers across different industries.
Market Research Report
This comprehensive report offers detailed statistics on the trailer axle market, including global market size, regional shares, key competitors with market share, market segments, trends, and opportunities, providing valuable insights for industry participants.
Technological Advancements Drive Innovation
Innovation is a key trend in the trailer axle market, with major players developing advanced technologies like e-axles. E-axles combine electric motors, power-control electronics, reduction gearing, and the axle's center. For example, Woolworths Group tested Australia's first "e-axle trailer" in 2022, which generates electricity from the kinetic energy of its wheels, reducing diesel consumption.
Strategic Acquisitions Fuel Growth
In January 2020, Dexter Axle Company, a prominent trailer axle manufacturer, acquired Silent Drive, strengthening its capabilities in specialty heavy-duty and suspension areas.
North America Leads
North America led the trailer axle market in 2022, with regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Key Countries
Key countries featured in the report encompass Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Automobile Market Prominence
The trailer axle market is poised to benefit from the growing prominence of the automobile industry. Increased purchasing power and a shift toward personal mobility have driven higher demand for automobiles. Additionally, the COVID-19 pandemic has sparked increased demand for personal vehicles globally. As a result, automotive production and the demand for trailer axles have surged. For instance, global motor vehicle production reached 79.1 million units in 2021, a 1.3% increase from 2020, and electric vehicle purchases saw a 50% YoY growth in 2020, totaling $120 billion.
Market Value Definition
The market value reflects revenues generated by enterprises from the sale of goods and/or services within the specified market and geography, including sales, grants, or donations, denominated in USD.
Geographical Revenues
Revenues for a specified geography refer to consumption values generated by organizations within that geography within the market, irrespective of production location. These values exclude revenues from resales along the supply chain.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $4.07 billion |
| Forecasted Market Value (USD) by 2027 | $4.9 billion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Trailer Axle Market Characteristics
3. Trailer Axle Market Trends And Strategies
4. Trailer Axle Market - Macro Economic Scenario
4.1. COVID-19 Impact On Trailer Axle Market
4.2. Ukraine-Russia War Impact On Trailer Axle Market
4.3. Impact Of High Inflation On Trailer Axle Market
5. Trailer Axle Market Size And Growth
5.1. Global Trailer Axle Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Trailer Axle Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Trailer Axle Market Segmentation
6.1. Global Trailer Axle Market, Segmentation By Axle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Single Axle
- Tandem axle
- Three Or More Than Three-Axle
6.2. Global Trailer Axle Market, Segmentation By Trailer Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Dry Van And Box
- Refrigerator
- Chemicals And Liquid
- Tippers
- Flatbed
- Other Trailers
6.3. Global Trailer Axle Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Lightweight Trailers
- Medium-Weight Trailers
- Heavy Trailers
7. Trailer Axle Market Regional And Country Analysis
7.1. Global Trailer Axle Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Trailer Axle Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/58xs02
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