Trailer Axle Market

Trailer Axle Market Study by Spring and Torsion Type Up to 8000 Tonnes, 8000 to 150000 Tonnes, 15000 to 25000 Tonnes, and Above 15000 Tonnes from 2024 to 2034

Analysis of Trailer Axle Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Trailer Axle Market Outlook (2024 to 2034)

The global trailer axle market size is forecasted to increase from US$ 8.42 billion in 2024 to US$ 13.95 billion by 2034-end, expanding at a CAGR of 5.2% over the next ten years.

The axle is a central shaft that carries the weight of the vehicle and rotates the wheels. It is classified as a front, rear, or stub component and is an essential component in any type of automobile. The movement of the vehicle's steering controls the axle. It is used in buses, cars, trucks, trailers, and other kinds of vehicles.

Key Market Growth Drivers

  • Global trailer axle market growth is due to the expansion of the automotive and transportation industries, the introduction of electric axles in trailers, and the implementation of emission regulations for transport refrigeration units.
  • Variable cost of the raw materials used to make axles is limiting market growth. One factor that is projected to present growth opportunities during the forecast period is the growing use of lightweight materials in axle manufacturing.
  • Automotive and transportation sectors have undergone significant changes around the world.
  • Environmental concerns have prompted the automotive sector to introduce electric vehicles, which has led to the development of e-axles for both electric vehicles and trailers.
  • By using regenerative braking in cars, e-axles help reduce emissions, carbon footprints, and the amount of electricity generated.
  • Due to the growth of e-commerce platforms, the transportation industry is witnessing an increase in the reliance of e-commerce companies on logistics service providers to guarantee the transportation of goods through warehouses and distribution hubs, which is one of the key trailer axle market trends.
  • Trailers are becoming more popular among logistics companies that provide full truckload (FTL) and less-than-truckload (LTL) freight shipping services due to their ability to carry large loads.
Report Attributes Details
Trailer Axle Market Size (2024E) US$ 8.42 Billion
Forecasted Market Value (2034F) US$ 13.95 Billion
Global Market Growth Rate (2024 to 2034) 5.2% CAGR
East Asia Market Share (2024E) 29.7%
North America Market Share (2024E) 27.8%
Sales of Spring Trailer Axles (2024E) US$ 5.01 Billion
Key Companies Profiled
  • JOST Axle Systems
  • Meritor, Inc.
  • SAF-Holland
  • Schmitz Cargobull
  • Shandong Huayue
  • ZF Friedrichshafen AG
  • Axle & Manufacturing Inc.
  • BPW Group
  • Dana Incorporated
  • DexKo Global Inc.
  • Dexter Axle Company
  • FUWA K Hitch
  • Guangzhou TND Axle Co. Ltd.
  • Hendrickson Corporation
  • Hitachi Ltd.

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Why are Sales of Trailer Axles Increasing Worldwide?

“Rising Mining and Construction Activities Driving Use of Three-Axle Trailers”

Trailers have a wide range of applications in the construction sector, including the transportation of machinery, equipment, and raw materials. The market for trailer axles is forecasted to grow primarily due to the increasing construction activities. According to Global Construction Perspectives Ltd, the construction industry is projected to reach US$ 15 trillion by the end of 2025, creating significant opportunities for trailer and trailer axle manufacturers. The primary factor driving demand for trailer axles in the construction sector is their high bearing capacity, which makes transportation easier.

Trailer axles, installed in medium- to heavy-duty trailer vehicles, get used to bulk load transportation. The demand for trailer axles in off-road vehicles is driven by the rising mining and construction activities.

Freight vehicles are a significant source of emissions, fuel consumption, and climate change. BRICS countries are experiencing a widespread transition to three-axle trailers in the age of industrialization due to an increase in long-distance transportation.

What is Slightly Impeding Trailer Axle Market Growth?

“Raw Material Price Fluctuations and Stringent Emission Regulations in Automotive Sector”

Trailer axle manufacturers are facing a great deal of difficulty as a result of raw material price fluctuations. The cost of production and overall profitability are being impacted by the fluctuating prices of materials such as steel, aluminum, and composites. Manufacturers are facing intense competition, particularly from Asian manufacturers who offer lower prices. Companies are forced to innovate and improve their offerings as a result of the pressure this competitive environment puts on prices and market share.

There is less of a market for new trailers during recessions. As a result, trailer axles are not as necessary as imagined. General growth and stability of the market are impacted by economic uncertainties. Tight rules on performance, emissions, and safety are also governing the automotive sector. Trailer axle manufacturers are finding it difficult to comply with these laws.

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Country-wise Insights

The market in East Asia is projected to expand at a CAGR of 6.2% over the next decade. Europe and Asia Pacific (APAC) are forecasted to continue leading the global trailer axle market. There is a significant market for heavy-duty trailers, which is one of the key growth opportunities.

How are Stringent Emission Regulations Driving Trailer Axle Sales in the United States?

“Rising Demand for Sustainable Modes of Transport”

Attribute United States
Market Value (2024E) US$ 1.73 Billion
Growth Rate (2024 to 2034) 4.4% CAGR
Projected Value (2034F) US$ 2.67 Billion

Expanding transportation and logistics industry in the United States is boosting demand for trailer axles. The market for trailer axles is expanding due to strict regulations and rising demand for sustainable modes of transport in the country. Heavy-duty trailer axles minimize fuel consumption and emissions as they can carry heavy loads in a single trip.

Will Government Initiatives in China Drive Demand for Trailer Axles?

“Heavy Government Investments in Upgradation of Transportation Infrastructure”

Attribute China
Market Value (2024E) US$ 1.01 Billion
Growth Rate (2024 to 2034) 6.8% CAGR
Projected Value (2034F) US$ 1.95 Billion

Ongoing infrastructure projects in China, such as highways, railways, and ports, demand robust transportation systems. In urban development, construction, and material transportation, trailers are essential. As a result, there is a greater need than ever for trailer axles in the country.

China is a major hub for manufacturers globally, producing a variety of goods both for export and domestic use. Trailers serve an important part in the transportation of components, final goods, and raw materials. Demand for dependable trailer axles increases along with the growth of manufacturing and trade. Road networks, logistics centers, and intermodal facilities are witnessing an increase in investment as a result of the Chinese government's focus on upgrading the country's transportation infrastructure. These changes are increasing the need for trailers and, by extension, trailer axles.

Category-wise Insights

There are two types of axles used in trailers: torsion axles and leaf spring axles. A spring is used in spring axles to support the load and trailer. Spring axles are simple to maintain and reasonably priced. A square spindle encased in rubber on all four sides makes up a torsion axle.

Which Type of Trailer Axle Accounts for a Significant Market Share?

“Spring Trailer Axle Sales to Lead Market Growth”

Attribute Spring Axles
Segment Value (2024E) US$ 5.01 Billion
Growth Rate (2024 to 2034) 4.2% CAGR
Projected Value (2034F) US$ 7.56 Billion

Introduction of e-axles in trailers and the implementation of emission regulations for transport refrigeration units are contributing to the expansion of the trailer axle market size. The variable cost of the raw materials used to make axles, however, is limiting market growth. Additionally, one factor that is projected to present growth opportunities during the forecast period is the increased use of lightweight materials in axle manufacturing.

Why is Popularity of Lower than 8,000 Tonne Trailer Axles High?

“Growing Demand for Medium-weight Trailers Driven by Introduction of e-Axles”

Attribute Lower Than 8,000 Tonnes
Segment Value (2024E) US$ 3.01 Billion
Growth Rate (2024 to 2034) 4.6% CAGR
Projected Value (2034F) US$ 4.71 Billion

Developing countries like China and India require an increasing number of medium-weight trailers, which often have axles with a capacity of less than 8,000 tonnes. This segment occupies a leading trailer axle market share. The automotive and transportation industries are becoming more globalized, leading to an increase in demand for trailer axles. The advent of new technologies such as e-axles and the use of lightweight materials in axle manufacturing is driving the growth of this market segment.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Competitive Landscape

Key players in the trailer axle market are JOST Axle Systems, Meritor, Inc., SAF-Holland, Schmitz Cargobull, Shandong Huayue, ZF Friedrichshafen AG, Axle & Manufacturing Inc., BPW Group, Dana Incorporated, DexKo Global Inc., Dexter Axle Company, FUWA K Hitch and Guangzhou TND Axle Co. Ltd.

  • Hendrickson, a top manufacturer and supplier of air, elastomeric, and mechanical suspensions for medium- and heavy-duty vehicles, as well as integrated and non-integrated axles and other commercial vehicle systems globally, has announced the introduction of its ground-breaking air and mechanical suspensions and axles for trailer applications in India.

Segmentation of Trailer Axle Market Research

  • By Type :

    • Spring
    • Torsion
  • By Capacity :

    • Up to 8,000 Tonnes
    • 8,000 to 15,000 Tonnes
    • 15,000 to 25,000 Tonnes
    • Above 15,000 Tonnes
  • By Sales Channel :

    • OEMs
    • Aftermarket
  • By Region :

    • North America
    • Europe
    • Latin America
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

- FAQs -

What is the size of the trailer axle market size in 2024?

The global trailer axle market is estimated to reach US$ 8.42 billion in 2024.

Which country has a significant market share in trailer axles?

The United States market is estimated at a value of US$ 1.73 billion in 2024.

What is the estimated market size for Japan in 2024?

The market for trailer axles in Japan is forecasted to reach US$ 1.14 billion in 2024.

Which type of trailer axles holds a significant market share?

Sales of spring trailer axles account for around 60% of market share in 2024.

What is the sales projection for axles with a capacity of more than 25,000 tonnes?

Sales of axles with a capacity of more than 25,000 tonnes are estimated at US$ 968.4 million in 2024.

What is the market value for trailer axles in China?

The Chinese market is set to reach a value of US$ 1.01 billion in 2024.

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