Fifth Wheel Coupling Market

Growth in construction, mining and transportation industries is expected to positively impact the fifth wheel coupling market

Automotive, mining, construction, waste management and petrochemical industries represent potential growth opportunities for manufacturers of fifth wheel coupling devices. Due to economic growth, construction and industrialization is increasing, which in turn is accelerating the growth of fifth wheel coupling market as it provides transportation solutions to these industries. Some of the prominent market participants which are providing fifth wheel coupling are Jost Werke AG, SAF Holland and Fontaine Fifth Wheel etc.

Due to the growing petro-chemical and mining industry, especially in Europe and Middle East & Africa, the demand for transportation is likely to receive a boost. This will increase the need of fifth wheel coupling devices for cost-effective movement of materials, providing safety and increased productivity.

Growing waste management industry is also anticipated to experience a gradual rise and this will positively impact the fifth wheel coupling market. Increasing awareness among the consumers regarding environment protection is projected to fuel the growth of waste management industry which in turn, increases the growth of logistic industry and indirectly affects the growth of fifth wheel coupling market. Capabilities such as high load carrying capacity will furthermore drive the demand in the market.

Preference of Advanced Fifth Wheel Coupling Products in North America

North America is a matured automotive market and has a high penetration for technologically advanced and high cost products. A large share of commercial vehicles in the region is equipped with advanced fifth wheel coupling system such as fifth wheel backup camera system. Furthermore, significant sales of heavy commercial vehicles in the North America region makes the market more inclined towards adoption of advanced technologies. For instance, in 2017, Fontaine Fifth Wheel Company has developed the lightest steel fifth wheel assembly that has a high load capacity.

Strong Demand for Heavy-duty Trailers Aids the Growth of the Fifth Wheel Coupling Market in Latin America

Freight vehicles are the prominent contributors to climate change, emissions and fuel consumption in the on-road transportation sector. Furthermore, tractor-trailers account for a significant percentage of emissions, fuel consumption, and vehicle-kilometers traveled from heavy-duty vehicles. This factor positively impacts the fifth wheel coupling market. Latin America registered a significant growth rate and is expected to be the most attractive region for the demand of heavy duty commercial vehicles, owing to increasing construction and mining activities in the region.

Government policies and promotion of fuel-saving technologies to reduce GHG emissions and fuel-consumption within the heavy duty vehicle fleet is another factor that is likely to fuel the demand of new advanced trailers, which in turn accelerates the growth of fifth wheel coupling market.

Market Taxonomy