According to a new report, published by KBV research, The Global Automotive Trailer Market size is expected to reach $27.3 billion by 2028, rising at a market growth of 4.2% CAGR during the forecast period.
The Passenger Car market is experiencing a CAGR of 5.1% during (2022 - 2028). The growth of the segment is increasing as a result of the rising disposable income of people throughout the world. Due to a higher per capita disposable income, people nowadays are more engaged in leisure activities, including fishing and camping. Automotive trailers are widely utilized in carrying essentials during these activities. Hence, this factor is playing a major role in driving the growth of this segment of the market.
The Tandem Axle market is leading the Global Automotive Trailer Market by Axle Type in 2021; thereby, achieving a market value of $10.7 billion by 2028. Due to stringent government regulations to reduce emissions and fuel consumption, tandem axles are gaining tremendous popularity, paving the way for the development of fuel-efficient and lightweight automobiles. The tandem axles are a specialized product utilized for heavy-duty vehicles such as automobile trailers.
The Tipper market is anticipated to witness a CAGR of 4.6% during (2022 - 2028). Tippers are necessary to transport and dump construction materials, such as gravel, sand, and debris. Trailers are more user-friendly and convenient than dump trucks. Without connecting and disconnecting the towing vehicle, trailers are able to make rapid round-trips to convey and unload cargo and therefore, these factors are substantially driving the growth of this segment of the market.
The Asia Pacific market dominated the Global Automotive Trailer Market by Region in 2021; thereby, achieving a market value of $10.1 billion by 2028. The Europe market is poised to grow at a CAGR of 3.7% during (2022 - 2028). Additionally, The North America market would witness a CAGR of 3.5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/automotive-trailer-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Geography
Companies Profiled
Unique Offerings 
