The Asia Pacific Automotive Trailer Market would witness market growth of 4.5% CAGR during the forecast period (2022-2028).
Stock trailers or horse trailers vary in size from small units that can carry one to three animals and can be towed by a pickup truck, SUV, or even a quad cycle to massive semi-trailers that can transport a substantial number of animals. A trailer coupler is used to connect the trailer to the vehicle that is towing it.
The trailer coupler is used to connect the trailer ball. This creates a ball-and-socket connection between the towing vehicle and trailer, allowing for relative mobility while towing over bumpy road surfaces. The trailer ball is attached to either the back bumper or a retractable drawbar. Inserting and attaching the drawbar into the hitch receiver secures it to the trailer hitch. A-frame couplers, straight couplers, as well as adjustable couplers are the most popular types of couplers.
Bumper-pull attachments and draw bars can exert a significant amount of leverage on the tow vehicle, making it more difficult to recover from a swerving scenario. Both hitches are superior to a receiver hitch because they enable a more efficient as well as central connection of a larger trailer to the towing vehicle. They can transport huge weights without compromising the vehicle's stability.
Asia-pacific is a lucrative hub for players in the automotive trailer market. This is because Asian countries have promising GDP growth and a substantial presence of automotive systems and component manufacturers. In addition, the increasing demand for passenger automobiles and commercial vehicles as a result of rising disposable income has a direct impact on the market expansion in emerging Asian nations such as China, Malaysia, India, and others. Moreover, the output of passenger vehicles in Asia-Pacific is rising with the development of the country despite the region's population growth (OICA).
The China market dominated the Asia Pacific Automotive Trailer Market by Country in 2021; thereby, achieving a market value of $2.8 billion by 2028. The Japan market is registering a CAGR of 3.9% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 5.2% during (2022 - 2028).
Based on Vehicle Type the market is segmented into Commercial Vehicle, Two-wheeler & Bike and Passenger Car. Based on Axle Type, the market is segmented Tandem Axle, Single Axle and Three or More Than Three Axle. Based on Trailer Type the market is segmented into Dry Van & Box, Refrigerator, Chemical & Liquid, Tipper, Flatbed and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Automotive Trailer Market is Projected to reach USD 27.3 Billion by 2028, at a CAGR of 4.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hyundai Motor Company, Wabash National Corporation, Böckmann Fahrzeugwerke GmbH, China International Marine Containers (Group) Ltd., Dennison Trailers Ltd., Great Dane Trailers, Humbaur GmbH, Ifor Williams Trailers Ltd. and Schmitz Cargobull AG.
By Vehicle Type
By Axle Type
By Trailer Type
By Country
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