Our comprehensive research on the Global Trailer Axle Market (2023-2031) provides insights for businesses. It covers trends, investments, tech advancements, and major players. The report uses qualitative and statistical data from 2017-2031, including SWOT, BCG, PESTLE analysis, and visuals. It offers a full market landscape with stakeholder insights, regional outlooks, and financial considerations.
The global trailer axle market size was US$ 5.1 billion in 2021. The global trailer axle market is projected to grow to US$ 8.9 billion by 2030, registering a compound annual growth rate (CAGR) of 4.8% during the study period from 2022 to 2030.
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The axle is a central shaft specifically used to rotate the wheels of the vehicle. It also helps support the weight of the vehicle and is claimed to be a crucial component in the automobile. A trailer axle is categorized into three, which include front, rear, and stub. Trailer axles find applications in cars, trucks, trailers, buses, and other vehicles.
Factors Influencing the Market
The steeply growing end-use sectors of trailer axles, such as automotive and transportation, are expected to drive the trailer axle market along.
Further, the growing trend of e-axle as it helps reduce emissions, carbon footprints, and electricity generation are expected to drive the market growth during the analysis period. Similar to this, the major expansion of e-commerce activities has increased the reliance of logistics service providers on e-commerce. Thus, the aforementioned factors is expected to positively influence the trailer axle market during the analysis period.
Medium and heavy load vehicles, as well as trailers, have begun to adopt electric axles. The use of an e-axle reduces the cost of maintenance, which is a significant benefit to industries. Further, it substantially declines the amount of gasoline consumed and the number of emissions produced by the vehicle. An electric axle in a trailer uses the energy released when a trailer rolls freely along a road to generate electricity and charge a lithium-ion battery aboard.
The growing trend of EVs is expected to bring opportunities for the trailer axle market. For instance, Primary connect, Woolworths Groups supply chain and logistics arm, unveiled a new e-axle trailer in March 2022 in Australia. Moreover, stringent regulations in transport refrigeration units are expected to escalate the growth graph of the overall market.
Regional Analysis
North America dominates the regional trailer axle market globally. One of the main factors influencing growth in this region is the enormous need for trailer trucks in nations like the U.S. Demand for the goods is also influenced by the automobile industry’s overall dominance. Asia-Pacific is expected to increase significantly in size, which is majorly attributed to the increase in the need for trailer trucks to transport commodities in highly industrialized nations like China and India.
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Competitors in the Market
American Axle & Manufacturing, Inc
BPW Bergische Achsen KG
Dana Incorporated
Hendrickson USA, L.L.C.
Meritor, Inc.
SAF-HOLLAND S.A.
Schmitz Cargobull
ZF Friedrichshafen AG
DexKo Global
Guangdong Fuwa Engineering Group Co., Ltd.
Guangzhou TND Axle Co., Ltd
Jost Werke AG
Other Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Trailer Axle industry experienced notable growth in its workforce. Starting in January, employment within the Trailer Axle sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Trailer Axle output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Trailer Axle output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Trailer Axle market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Trailer Axle market.
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Market Segmentation
The global trailer axle market segmentation focuses on Trailer, Axle, Capacity, Application, Sales Channel, and Region.
By Trailer Type
Dry van & box
Refrigerator
Chemicals & Liquid
Tippers
Flatbed
others
By Axle Type
Single Axle
Tandem axle
Three or more three-axle
By Capacity
Lower than 8,000 lbs
8,000-15,000 lbs
15,000-25,000 lbs
More than 25,000 lbs
By Application
Lightweight trailers
Medium-weight trailers
Heavy trailers
By Sales Channel
OEM
Aftermarket
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By Regional Outlook
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America
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Table of Contents:
Chapter 1: Introduction to the Global Trailer Axle Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Trailer Axle Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Trailer Axle Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Trailer Axle Market Size (2023-2031)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Trailer Axle market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Trailer Axle market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Trailer Axle business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
• Assisting businesses in gauging the viability of new or existing products or services.
• Facilitating business enterprises in the identification and cultivation of novel market segments.
• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
• Analyzing market trends to aid businesses in devising adaptive strategies.
• Guiding businesses in the optimal placement of their products.
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