The global sales of automotive trailer axles is estimated to be valued at US$ 5,979.9 Mn in 2017 and is projected to grow at a CAGR of 5.1% over the forecast period and be valued at US$ 8,879.2 Mn by 2025. In terms of volume, the global trailer axle market stood at 3,168‘000 Units in 2017 and is expected to reach 4,549‘000 Units by 2025 end. The market is slated to expand at a CAGR of 4.6% in terms of volume over the forecast period. According to a recently published report by Persistence Market Research titled “Trailer Axle Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2025),” manufacturers in the global trailer axle market are concentrating on a strategy of introducing new sales channel specific product offerings, such as high capacity trailers axles for heavy duty work to better address customer specific requirements. Moreover, market players have been channelizing efforts towards strengthening their distribution channels while also focusing on direct sales and financing options.
Global Trailer Axle Market: Key Regional Takeaways
- The North America market is expected to witness relatively steady growth during the forecast period
- Substantial growth in the Latin America market is attributed to the increasing demand for trailer axles by OEMs to meet growing demand from Brazil and the rest of Latin America
- Significant trailer production is anticipated in the European market. The trailer axle market in Europe is anticipated to witness relatively stable growth during the forecast period
- Asia Pacific is predicted to witness robust growth owing to a growing trailer production in China and ASEAN countries
- Turkey, South Africa, and Iran are expected to dominate the Middle East & Africa trailer axle market
Global Trailer Axle Market: Forecast by Sales Channel
By sales channel the market is segmented into OEM and aftermarket. In terms of sales channel, the OEM segment is expected to be the most attractive and dominating segment throughout the forecast period as trailer axles are rarely replaced.
Global Trailer Axle Market: Forecast by Capacity
On the basis of capacity the market is segmented into <8000 lbs, 8000-15000 lbs and more than 15000 lbs. The 8,000-15,000 lbs segment remains lucrative and will dominate global market demand over the forecast period, primarily due to the fact that these trailer axles are quite popular and are relatively cost-efficient.
Global Trailer Axle Market: Forecast by Region
Five key geographies have been covered in this report to facilitate a detailed understanding of the global market. Lower trailer production in MEA has contributed to low share and incremental $ opportunity. Asia Pacific is anticipated to lead the global market in terms of revenue, with an estimated market share of more than 40% by 2025 end.
Global Trailer Axle Market: Key Players
Some of the top companies operating in the global trailer axle market that have been featured in this report include Meritor, Inc., Hendrickson Corporation, BPW Group, SAF-Holland S.A, Guangdong Fuwa Engineering Group Co., Ltd., Schmitz Cargobull, Gigant - Trenkamp & Gehle GmbH, Guangzhou TND Axle Co., Ltd., Redneck Trailer Supplies, JOST Axle Systems, York Transport Equipment (Asia) Pte Ltd., H D TRAILERS PVT LTD, Rogers Willex and Dexter Axle Company.
For further insights on the global trailer axle market, write in to Persistence Market Research analysts at firstname.lastname@example.org