Persistence Market Research has provided detailed information regarding the key focus area of players in the global trailer axle market, which is the provision of efficient after sales services. Mergers and acquisitions, strategic collaborations and technology transfer agreements play a vital role in the global trailer axle market. Manufacturers have understood the need to effectively meet the requirements of customers while ensuring the provision of customized services at the same time. Further, it has been noticed that acquisitions and collaborations are the key strategies adopted by global as well as local players for better service provision and to increase their consumer base in different geographies. Valuable insights like these and much more are the highlight of our new report on the global trailer axle market.
Report structure that incorporates in-depth analysis, key recommendations and overall market viewpoint
The key part of this report is our analysis and recommendations on the global trailer axle market. The report presents an overview of the global trailer axle market and also underlines factors influencing the growth of the global trailer axle market revenue. The analysts have also provided key strategic recommendations for both existing and new players in the market to emerge sustainably profitable. The report covers the competitive landscape that provides a dashboard view of companies that manufacture and provide services in the global trailer axle market. The report features company profiles of some of the key players and a strategic overview of mergers and acquisitions along with companies’ expansion plans across regions. Apart from including these factors, the team of expert analysts have also taken into consideration the various macro-economic indicators such as trailer axle market outlook, gross domestic product and other pointers to arrive at the indicated market numbers. Top-down approach has been used to counter-validate the reached numbers in the trailer axle market, while bottom-up approach has been used to assess market numbers in the trailer axle market. Weighted average selling price is considered to estimate the market size mentioned in the study.
By Sales Channel
Extensive interviews with key market stakeholders add to the credibility of the research
Each interview conducted as part of primary research is thoroughly analyzed and average market volume is deduced and reconfirmed prior to incorporating in the report. The price of trailer axle is deduced on the basis of capacity, where the average price of each trailer axle is inferred across all the five assessed regions. The market value of the global trailer axle market is thus calculated from the data derived from the average selling price and market volume.
For the eight year forecast of the global trailer axle market, various macroeconomic factors and changing trends have been observed, giving an idea about the future of the market. Other important factors considered to arrive at market forecast include the size of the current market, inputs from the supply side and the demand side and other dynamics shaping the scenario of the market. In the compilation of the report, the forecasts are conducted in terms of CAGR, while other important criteria such as year-on-year growth and absolute dollar opportunity have also been incorporated presenting the reader with useful insights and future opportunities likely to emerge in the global trailer axle market.
Forecast highlights of the global trailer axle market
The global trailer axle market is highly consolidated with the top five players accounting for over 70% of the total market share. A growing construction industry and governmental policies and regulations are some of the factors estimated to drive the global trailer axle market during the forecast period. Asia Pacific is the dominating region in the global trailer axle market owing to high scale production of trailers in China. Latin America followed by Asia Pacific is likely to register substantial growth during the forecast period. The global trailer axle market is highly competitive owing to the presence of large sized manufacturers. Manufacturers are focusing on consolidating the market by expanding their sales facilities in several developing nations.
Trailer axle market likely to witness significant growth in the coming years owing to the strong demand for heavy-duty trailers
Freight vehicles such as trailers are significant contributors in the on-road transportation sector and are susceptible to climate change, fuel consumption and emissions. The demand for heavy-duty trailers is more in regions such as Latin America and also in certain countries like Russia and China. A significant growth witnessed in these regions is due to the various steps taken by the government in terms of policies and promotion of fuel-saving technologies that can reduce GHG emissions and consumption of fuel in heavy duty vehicle fleet.
The governments in various regions have started adopting the newly imposed regulations pertaining to carbon emissions that are associated with use of trailers in commercial vehicles. For instance, lately the U.S. Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration (NHTSA) have mutually adopted a regulation for trailers, which is part of the heavy-duty fuel efficiency standards and greenhouse gas emissions.
Construction, manufacturing and industrial companies focusing on goods transportation prefer their own equipment as opposed to renting equipment from rental companies. This is due to easy availability of financing options that give consumers the required purchasing power with flexible payment terms. Furthermore, financing can provide immediate access to the required trailers with a much lower upfront cost with competitive interest rates and low down payments. This is another factor boosting market revenue growth.
The global market is largely dominated by Tier 1 players
Several leading Tier 1 players are focusing on market consolidation by expanding their manufacturing, sales and distribution channel facilities in Asia Pacific and Latin America and significantly lowering manufacturing costs. Tier-1 players include major trailer axle manufacturing companies such as Guangdong FUWA Engineering Group CO. LTD. and Hendrickson Corporation, which are likely to gain a large part of the global market share. Players in the Tier-2 category are expected to hold a revenue share of more than 15% due to strong penetration in regional markets.
Strong demand for trailer axles especially from China, ASEAN, and other developing countries is anticipated to create significant incremental $ opportunity during the forecast period
The Asia Pacific market is estimated to dominate the global trailer axle market with more than 35% market value share, valued at more than US$ 2,200 Mn by 2017 end; expanding at a CAGR of 6.6% over the forecast period. China—a major region in the Asia Pacific – and ASEAN countries are expected to register significant growth during the forecast period.