Overview and Scope
Light trailers refer to vehicles without motive power. Trailer lacks pedals and a motor to propel the wheels. It is designed to carry the maximum load a trailer can carry, which is normally set by the manufacturer, and is used to move lightweight cars behind an automobile or a truck.
Sizing and Forecast
The light car trailer market size has grown steadily in recent years. It will grow from $1.5 billion in 2023 to $1.56 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to rise in recreational activities, growing interest in outdoor adventures, expanding small business activities, urbanization and limited storage spaces, increased adoption for motorsports..
The light car trailer market size is expected to see steady growth in the next few years. It will grow to $1.86 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to growth in electric and hybrid vehicles, rise in adventure tourism, focus on lightweight and aerodynamic designs, adoption of sustainable materials, increased popularity of camper trailers, global tourism trends.. Major trends in the forecast period include multi-functional trailers, advanced safety features, smart trailer technology, customization options, integration of aerodynamic features, online sales and direct-to-consumer models..
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Segmentation & Regional Insights
The light car trailer market covered in this report is segmented –
1) By Type: Utility Light Car Trailers, Recreational Light Car Trailers
2) By Design: Open Light Car Trailers, Enclosed Light Car Trailers
3) By Axle: Single Axle Light Car Trailers, Multi Axle Light Car Trailers
4) By Application: Tourism, Transportation, Other Applications
North America was the largest region in the light car trailer market in 2023. The regions covered in the light car trailer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rapidly expanding tourism industry is expected to propel the light car trailer market going forward. The tourism industry refers to the act of traveling outside one’s area of residence or hometown, either domestically or internationally, for leisure, social, or business purposes. Light trailers refer to vehicles without motive power. Light car trailers such as utility trailers are used in traveling due to their compact travel mode, mostly used by motorsport enthusiasts for transporting vehicles, as a result, the rapidly expanding tourism industry increases the demand for the light car trailer. For instance, in 2022, according to The World Tourism Organization (UNWTO), an UN-based specialized agency, the economic contribution of tourism in 2021 was US$1.9 trillion, higher than US$1.6 trillion in 2020. Thus, the rapidly expanding tourism industry drives the light car trailer market.
Key Industry Players
Major companies operating in the light car trailer market are increasing their focus on introducing innovative open platforms to gain a competitive edge in the market. An innovative open platform refers to a flexible and adaptable system that allows integration with various applications, devices, or technologies within a unified framework. For instance, in September 2021, Hyundai Translead, a US-based automotive company, launched a new open-platform smart trailer solution called HT LinkSense, which aims to improve fleet management and operations. This innovative solution provides universal connectivity between sensor packages and existing telematics systems, empowering customers with greater fleet management capabilities.
The light car trailer market report table of contents includes:
1. Executive Summary
2. Light Car Trailer Market Characteristics
3. Light Car Trailer Market Trends And Strategies
4. Light Car Trailer Market – Macro Economic Scenario
5. Global Light Car Trailer Market Size and Growth.
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32. Global Light Car Trailer Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Light Car Trailer Market
34. Light Car Trailer Market Future Outlook and Potential Analysis
35. Appendix
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