The global trailer axle market revenue was around US$ 6.21 billion in 2022 and is estimated to reach US$ 9.46 billion by 2031, growing at a compound annual growth rate (CAGR) of 4.8% during the forecast period from 2023 to 2031.
Trailer axles are structural components that support the trailer weight and cargo, while also promoting smooth movement and steering. They are generally connected to the wheels, suspension system, and braking system of the trailer.
Market Driving Factors
Development of the automotive and transportation industry is estimated to drive the market growth. The automotive and transport industry has gone through various changes across the world. In the automotive industry, the introduction of electric vehicles due to environmental concerns has been observed, which in turn resulted in the development of e-axles for electric vehicles as well as for trailers. E-axle assist in lowering emissions, carbon footprints, and electricity generation via regenerative braking in vehicles.
The introduction of e-axle in trailers is expected to drive the market growth. Electric axles have started to create their way to medium and heavy-duty vehicles as well as trailers. In addition, the utilization of e-axle provides a decrease in maintenance price, lower fuel consumption, and lower vehicle emissions. Thus, an electric axle in a trailer captures the energy that is made when a trailer is rolling free along the road and used. As a result, this generates electric energy to charge an onboard lithium-ion battery.
The initial price of technologically cutting-edge trailer axles and associated components can be relatively high, which may hinder market growth.
Regional Analysis
Europe dominated the market in terms of the growth rate. This can be attributed to the existence of major automotive manufacturers and a strong transportation infrastructure. Furthermore, the emphasis on fuel efficiency and decreased emissions also drives the demand for cutting-edge trailer axles in this region.
North America is estimated to dominate the market in terms of the growth rate. This is mainly owing to the well-established logistics and transportation sector, which contributes to the demand for trailer axles. Furthermore, stringent regulations regarding emissions and security standards further propel market growth.
Asia-Pacific is also expected to dominate the market in terms of revenue. This is primarily due to the high growth of industrialization coupled with an increase in the logistics sector in the region. Additionally, the surge in overall industrial production has led to a rise in freight transportation, which is driving the demand for trailer axles in this region. Furthermore, the strong existence of global trailer manufacturers along with the emergence of local startups in the region are also predicted to propel the market growth.
Segmentation Insights
In terms of capacity insight, the 8,000-15,000 lbs segment is estimated to dominate the market in terms of revenue. This is mainly owing to the that the trailer axles are quite famous and are relatively price-efficient.
Prominent Companies
Segmentation Outline
The global trailer axle market segmentation focuses on the Trailer Type, Axle Type, Capacity, Application, Sales Channel, and Region.
By Trailer Type
By Axle Type
By Capacity
By Application
By Sales Channel
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL TRAILER AXLE MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: TRAILER AXLE MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL TRAILER AXLE MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL TRAILER AXLE MARKET, BY TRAILER TYPE
5.1 OVERVIEW
5.2 DRY VAN & BOX
5.3 REFRIGERATOR
5.4 CHEMICALS & LIQUID
5.5 TIPPERS
5.6 FLATBED
5.7 OTHERS
6 GLOBAL TRAILER AXLE MARKET, BY AXLE TYPE
6.1 OVERVIEW
6.2 SINGLE AXLE
6.3 TANDEM AXLE
6.4 THREE OR MORE THAN THREE-AXLE
7 GLOBAL TRAILER AXLE MARKET, BY CAPACITY
7.1 OVERVIEW
7.2 LOWER THAN 8,000 LBS
7.3 8,000-15,000 LBS
7.4 15,000-25,000 LBS
7.5 MORE THAN 25,000 LBS
8 GLOBAL TRAILER AXLE MARKET, BY APPLICATION
8.1 OVERVIEW
8.2 LIGHTWEIGHT TRAILERS
8.3 MEDIUM-WEIGHT TRAILERS
8.4 HEAVY TRAILERS
9 GLOBAL TRAILER AXLE MARKET, BY SALES CHANNEL
9.1 OVERVIEW
9.2 OEM
9.3 AFTERMARKET
10 GLOBAL TRAILER AXLE MARKET, BY GEOGRAPHY
10.1 OVERVIEW
10.2 NORTH AMERICA
10.2.1 NORTH AMERICA MARKET SNAPSHOT
10.2.2 U.S.
10.2.3 CANADA
10.2.4 MEXICO
10.3 EUROPE
10.3.1 EUROPE MARKET SNAPSHOT
10.3.2 WESTERN EUROPE
10.3.2.1 THE UK
10.3.2.2 GERMANY
10.3.2.3 FRANCE
10.3.2.4 ITALY
10.3.2.5 SPAIN
10.3.2.6 REST OF WESTERN EUROPE
10.3.3 EASTERN EUROPE
10.3.3.1 POLAND
10.3.3.2 RUSSIA
10.3.3.3 REST OF EASTERN EUROPE
10.4 ASIA PACIFIC
10.4.1 ASIA PACIFIC MARKET SNAPSHOT
10.4.2 CHINA
10.4.3 JAPAN
10.4.4 INDIA
10.4.5 AUSTRALIA & NEW ZEALAND
10.4.6 ASEAN
10.4.7 REST OF ASIA PACIFIC
10.5 MIDDLE EAST & AFRICA
10.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
10.5.2 UAE
10.5.3 SAUDI ARABIA
10.5.4 SOUTH AFRICA
10.5.5 REST OF MEA
10.6 SOUTH AMERICA
10.6.1 SOUTH AMERICA MARKET SNAPSHOT
10.6.2 BRAZIL
10.6.3 ARGENTINA
10.6.4 REST OF SOUTH AMERICA
11 GLOBAL TRAILER AXLE MARKET COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 COMPANY MARKET RANKING
11.3 KEY DEVELOPMENT STRATEGIES
11.4 COMPETITIVE DASHBOARD
11.5 PRODUCT MAPPING
11.6 TOP PLAYER POSITIONING, 2022
11.7 COMPETITIVE HEATMAP
11.8 TOP WINNING STRATEGIES
12 COMPANY PROFILES
12.1 GUANGDONG FUWA ENGINEERING GROUP CO. LTD
12.1.1 OVERVIEW
12.1.2 FINANCIAL PERFORMANCE
12.1.3 PRODUCT OUTLOOK
12.1.4 KEY DEVELOPMENTS
12.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.2 AMERICAN AXLE & MANUFACTURING INC
12.2.1 OVERVIEW
12.2.2 FINANCIAL PERFORMANCE
12.2.3 PRODUCT OUTLOOK
12.2.4 KEY DEVELOPMENTS
12.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.3 DEXKO GLOBAL
12.3.1 OVERVIEW
12.3.2 FINANCIAL PERFORMANCE
12.3.3 PRODUCT OUTLOOK
12.3.4 KEY DEVELOPMENTS
12.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.4 JIANGLING GROUP SHANDONG HUAYUE VEHICLE PARTS CO., LTD
12.4.1 OVERVIEW
12.4.2 FINANCIAL PERFORMANCE
12.4.3 PRODUCT OUTLOOK
12.4.4 KEY DEVELOPMENTS
12.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.5 ROGERS AXLE & SPRING WORKS
12.5.1 OVERVIEW
12.5.2 FINANCIAL PERFORMANCE
12.5.3 PRODUCT OUTLOOK
12.5.4 KEY DEVELOPMENTS
12.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.6 WILLEX TRAILER AND AXLE SALES
12.6.1 OVERVIEW
12.6.2 FINANCIAL PERFORMANCE
12.6.3 PRODUCT OUTLOOK
12.6.4 KEY DEVELOPMENTS
12.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.7 MERITOR INC.
12.7.1 OVERVIEW
12.7.2 FINANCIAL PERFORMANCE
12.7.3 PRODUCT OUTLOOK
12.7.4 KEY DEVELOPMENTS
12.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.8 BPW BERGISCHE ACHSEN KG
12.8.1 OVERVIEW
12.8.2 FINANCIAL PERFORMANCE
12.8.3 PRODUCT OUTLOOK
12.8.4 KEY DEVELOPMENTS
12.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.9 HENDRICKSON USA
12.9.1 OVERVIEW
12.9.2 FINANCIAL PERFORMANCE
12.9.3 PRODUCT OUTLOOK
12.9.4 KEY DEVELOPMENTS
12.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.10 ZF FRIEDRICHSHAFEN AG
12.10.1 OVERVIEW
12.10.2 FINANCIAL PERFORMANCE
12.10.3 PRODUCT OUTLOOK
12.10.4 KEY DEVELOPMENTS
12.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.11 JOST WERKE AG
12.11.1 OVERVIEW
12.11.2 FINANCIAL PERFORMANCE
12.11.3 PRODUCT OUTLOOK
12.11.4 KEY DEVELOPMENTS
12.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.12 DANA INCORPORATED
12.12.1 OVERVIEW
12.12.2 FINANCIAL PERFORMANCE
12.12.3 PRODUCT OUTLOOK
12.12.4 KEY DEVELOPMENTS
12.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.13 SCHMITZ CARGOBULL
12.13.1 OVERVIEW
12.13.2 FINANCIAL PERFORMANCE
12.13.3 PRODUCT OUTLOOK
12.13.4 KEY DEVELOPMENTS
12.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.14 SAF-HOLLAND S.A.
12.14.1 OVERVIEW
12.14.2 FINANCIAL PERFORMANCE
12.14.3 PRODUCT OUTLOOK
12.14.4 KEY DEVELOPMENTS
12.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.15 GUANGZHOU TND AXLE CO. LTD
12.15.1 OVERVIEW
12.15.2 FINANCIAL PERFORMANCE
12.15.3 PRODUCT OUTLOOK
12.15.4 KEY DEVELOPMENTS
12.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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