Analysis of Light Car Trailers Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
A trailer is an unpowered vehicle that is being towed by a powered vehicle. They are used to transport lightweight vehicles in front of a car or a truck. When the route's terrain makes driving a car dangerous, these trailers are utilized to carry vehicles from one location to another.
The lightweight vehicle trailers are often utilized by travelers and sports enthusiasts for leisure purposes. The appropriate motorbike, watercraft, snowmobile, or passenger car trailers are utilized to transport each type of vehicle, separately. They may be towed behind a car or a vehicle.
Expansion of the tourism and automobile sectors is anticipated to contribute to the market growth of this product. There is a sufficient increase in the snowmobile, watercraft, and motorcycles which are anticipated to increase due to demand from solo travelers and leisure enthusiasts. These pursuits include camping, water sports, and off-road motorcycling. These car trailers are preferred as they are cost-effective and can be used for personal work due to their ability to towing large weighted cargo.
Further, the rise in disposable income globally and rapid growth in the travel industry are anticipated to scale up the demand for automotive trailers. The additional goods carrying capacity is preferred by the companies in order to perform car haulings.
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The growing preference of users to spend the holidays at a campsite or on a hill is driving the demand. The benefit of a vehicle trailer is the extra carriage capacity that it offers. Light car trailers provide an added advantage and can act as a driving factor for the overall market. However, the maintenance cost associated with these trailers is limiting their growth among the middle-class and lower-middle-class populations.
Powered vehicles often reduce efficiency owing to rising load. Due to expansion in the logistics sector, car trailer demand is expected to rise. The door-to-door transportation of motorcycles and four-wheelers is the primary demand impelling factor for this market. the demand is further driven by the sectors like tourism, recreational activities, and transportation are boosters for investment.
Given its design, the light car trailer is an unpowered vehicle. There may be chances of reduced fuel efficiency in the powered vehicle due to the increased load. Considering the rising fuel costs, the market is anticipated to grow at a steady pace. With the governments implementing strict labor laws, more recreational time for the employee coupled with the growing rate of disposable income is expected to marginally impact the market.
The manufacturers are noted to be engaged in research and development and have expanded their product portfolio through the commercialization of innovations. In the market, target marketing has proved beneficial for manufacturers. Several light car trailers are targeted for sports cars while the others are for vintage cars and motorcycles. The level of competition in the market is estimated to be low to moderate and entry for newer players seems easy.
Transportation and logistics activities are key drivers of this market. Fleet management is gaining momentum. For instance, Felling Trailers, Inc. expanded its utilities-based product line in June 2021 by adding cargo/pole/dump trailers. The PCD trailer's versatility might potentially guarantee several years of dependable and problem-free service while saving operators time.
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The trend for using light car trailers has been well established in some developed parts of the world while it is yet to pace up in the developing regions. The North American market is estimated to retain its dominance throughout the forecast period. Europe is estimated to follow North America in the market.
Countries such as New Zealand and Australia (OCEANIA) are bigger markets in the Asia Pacific. Slower growth is expected in the other parts of the Asia Pacific and marginal growth in the Middle East and Africa and Latin America light car trailers market. Some of the market participants in the global market identified across the value chain include
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North America is anticipated to remain the dominant market in the upcoming period.
The growing preference of users to spend the holidays on a campsite or on a hill is driving the demand for these trailers.
Target marketing has proved beneficial for the manufacturers.
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