ALBANY, N.Y., July 7, 2021
- Global fifth wheel coupling market is expanding at a CAGR of more than 4% during the forecast period. The market for fifth wheel coupling is anticipated to expand at a significant growth rate during the forecast period, owing to the expansion of industries and improving road infrastructure.
- Steel key materials used for couplings, high prices dampen uptake of the lighter material aluminum; Adoption by OEMs of tractors generating massive revenue
ALBANY, N.Y., July 7, 2021 /PRNewswire/ -- Overview of Fifth Wheel Coupling Market
The automotive is a major end-use industry of fifth wheel couplings. Fifth wheel coupling has emerged as a trailer mechanism for trucks and tractors. The fifth wheel coupling market has gained revenues on the back of the strides made in freight in transportation. The demand for fifth wheel coupling among original equipment manufacturers (OEMs) and aftermarket has been stridently spurred by advancements made in road infrastructure and rise in volumes of goods transported. To a great deal, the consumption has been fueled by efforts by governments especially in emerging economies to bolster road infrastructure. Advances in engineering of fifth wheel coupling have paved way to better designs and materials, all of which has eventually enabled vehicle drivers to vary the load distribution with remarkable manoeuvrability and balance. These technological advancements boost the demand.
By the end of the forecast period of 2019 – 2027, the fifth wheel coupling market is expected to exceed worth of US$ 500 Mn.
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Key Findings of Fifth Wheel Coupling Market Study
Steel manufacturers have been increasingly offering OEMs in the fifth wheel coupling splendid flexibility of design. A range of trailers have been thus used for different vehicles, including tend to the demand for trailers recreational vehicles. Burgeoning use of light trucks in parts of emerging economies for freight movement has also boosted prospect for fifth wheel coupling market.
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Fifth Wheel Coupling Market: Key Driving Factors and Avenues
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Fifth Wheel Coupling Market: Regional Dynamics
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Fifth Wheel Coupling Market: Key Industry Stakeholders
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