Dublin, March 19, 2024 (GLOBE NEWSWIRE) -- The "Snowmobile Trailer Axle Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The snowmobile trailer axle market size is expected to see steady growth in the next few years. It will grow to $6.54 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The anticipated growth in the forecast period can be attributed to compliance with evolving regulations, increased market demand for enhanced load capacities, adaptation to changing road conditions, integration of safety and braking systems, and considerations for efficiency and fuel economy. Major trends expected in the forecast period involve advanced load-bearing capabilities, customization for specialized transport needs, innovations in safety and stability, the adoption of aerodynamic axle designs, and a focus on lightweight yet strong materials.
The increasing popularity of recreational activities is expected to contribute to the market's growth. Recreational activities, including skiing, snowboarding, ice skating, and snowmobiling, have witnessed a surge in demand. The rising popularity of winter sports and outdoor pursuits has led to an increased demand for snowmobiles, subsequently driving the need for reliable trailer axles. According to the Outdoor Industry Association's Outdoor Participation Trend report, the outdoor recreation participant base reached a record 168.1 million participants in 2022, representing a 2.3% increase compared to 2021. This growth highlights the significance of winter sports and recreational activities, further propelling the snowmobile trailer axle market.
The lack of standardized regulations and load guidelines is poised to impede market growth during the forecast period. The absence of uniform regulations and guidelines for load restraint can result in inconsistent and potentially unsafe practices in securing snowmobiles and other cargo during transportation. For instance, the Automotive Regulatory Guide 2023, according to the ACEA, does not provide precise regulations for snowmobile load restraint systems, creating challenges for the industry. Consequently, the lack of standardized regulations and guidelines represents a hindrance to the snowmobile trailer axle market's growth.
Major players in the market are actively pursuing collaborations to enhance customer service and drive innovation. These strategic partnerships involve joint efforts to achieve common goals, expand market reach, improve product offerings, and foster innovation. A notable example is the collaboration between SAF-HOLLAND Group, a German trailer axle manufacturer, and Carrier Transicold, a US-based refrigeration and heating systems manufacturer. Their partnership aims to develop and commercialize the SAF-HOLLAND TRAKr recuperation axle, enhancing the efficiency and sustainability of trailer systems. Another partnership involves BPW Group, a German trailer axle manufacturer, and Alltrucks GmbH, a German snowmobile trailer axle component provider, aiming to enhance their aftersales network and broaden their service and trailer expertise.
North America was the largest region in the snowmobile trailer axle market in 2023. The regions covered in the snowmobile trailer axle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The snowmobile trailer axle market consists of sales of axle beams, spindles, hubs, bearings, wheel hub assemblies, brake systems, and axle tubes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The primary types of snowmobile trailer axles are torsion snowmobile trailer axles and spring snowmobile trailer axles. Torsion snowmobile trailer axles are a common type of axle system used in snowmobile trailers, providing both suspension and support. These axles come in various materials such as steel, aluminum, and carbon fiber, and they are available in different weight capacities, ranging from 0-1000 lbs to 3001-4000 lbs. They are distributed through original equipment manufacturers (OEM) and aftermarket channels, finding applications in light-weight trailers, medium-weight trailers, and heavy-weight trailers.
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