The Trailer Axle Global Market Report 2023 by The Business Research Company, provides trailer axle market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Trailer Axle Global Market Report 2023, the global trailer axle market is expected to grow from $3.87 billion in 2022 to $4.07 billion in 2023 at a compound annual growth rate (CAGR) of 5.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The trailer axle market is expected to grow to $4.90 billion in 2027 at a CAGR of 4.8%.
The rising prominence of the automobile market is expected to drive the trailer axle market. The growing economy and rising standard of living have changed purchasing power, and increased the demand for automobiles. Moreover, due to COVID-19, there is a sudden increase in demand for personal mobility worldwide. The surge in automotive demand has led to increased production and demand for trailer axle.
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The trailer axle market is segmented:
1) By Axle Type: Single Axle , Tandem axle, Three or more than three-axle
2) By Trailer Type: Dry van and box , Refrigerator, Chemicals and Liquid, Tippers, Flatbed, Other Trailers
3) By Application: Lightweight Trailers, Medium-weight Trailers, Heavy Trailers
Technological advancement is a key trend in the trailer axle market. Major players in the trailer axle market are innovating new technologies, such as e-axle, to sustain in the market. An e-axle combines one or more electric motors with power-control electronics, two- or three-speed reduction gearing, and the axle’s center. For instance, in 2022, Woolworths Group, a Sydney-based retailer, conducted testing of Australia’s first “e-axle trailer,” which produces electricity using the kinetic energy of its axle and wheels. A battery that can power the refrigeration system and reduce diesel consumption is fueled by the electricity produced by the trailer’s axle and wheels.
The trailer axle market report table of contents includes:
1. Executive Summary
2. Trailer Axle Market Characteristic
3. Trailer Axle Market Trends And Strategies
4. Trailer Axle Market – Macro Economic Scenario
5. Trailer Axle Market Size And Growth
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26. Africa Trailer Axle Market
27. Trailer Axle Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Trailer Axle Market
29. Trailer Axle Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- DexKo Global Inc
- Meritor Inc
- BPW Group
- Fuwa-K-Hitch
- JOST Axle Systems
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