Global Trailer Axle Market is Estimated to Witness High Growth Owing to Technological Advancements
A trailer axle refers to an axle that is attached to the underside of a trailer to support and distribute its weight. It generally consists of an axle housing that supports wheel bearings and wheel studs attached to wheels, along with braking components such as drums or discs. Trailer axles play a crucial role in enabling trailers to tow a variety of loads safely and smoothly. Technological advancements such as higher load capacities and improved braking systems are driving the adoption of trailer axles.
The Global Trailer Axle Market is estimated to be valued at US$ 5.95 Bn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 To 2031. Trailer axles are increasingly being used in semi-trailers, full trailers, and log trailers among others to transport goods across various industries globally.
Growing e-commerce and logistics sectors are fueling the demand for Global Trailer Axle Market Trends components like axles. Technological developments including wider tire options, airride suspensions, and electric brakes are improving performance.
Key Takeaways
Key players operating in the Global Trailer Axle market are BPW Group, DexKo Global Inc., Meritor, Inc., Hendrickson Corporation, FUWA K Hitch, Shandong Huayue, TND Trailer Axle, JOST Axle Systems, SAF-Ho Hendrickson USA, L.L.C., JOST Achsen Systeme GmbH, Meritor, Inc., Rogers Axle Spring Works Pty Ltd., SAF-HOLLAND GmbH, Schmitz Cargobull AG, York Transport Equipment (Asia) Pte Ltd.
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