Trailer Landing Gear Market Analysis

Trailer Landing Gear Market Analysis

The aftermarket segment is poised to reach USD 250 million by 2028 propelled by growing application in semi-trailers and drawbar trailers that operate with higher freight weight. The ongoing COVID-19 pandemic has significantly impacted automotive production including trailer production in 2020 and despite forced lockdowns and trailer production halts worldwide, the automotive industry has witnessed significant growth. The OEM segment will account for a low market share. The increasing trailer fleet will however create a decent growth opportunity.

The manual landing gear type segment is predicted to generate a revenue of about USD 200 million by 2028. Additionally, the automatic landing gear segment will represent a significantly higher growth potential in the global trailer landing gear market as the automotive industry is changing toward automation. The growing global road transport and logistics industries will augment the demand for manual landing gears.
 

The above 50,000 lbs. lifting capacity trailer landing gear segment will dominate with more than 55% of the market share by 2028. A wide variety of semi-trailer types are available in the commercial vehicle segment, depending on freight and load. Tanker trailers are typically used to transport liquid and are manufactured from aluminum or stainless steel. The maximum gross weight of a tanker trailer can be up to 80,000 lbs. as it carries asphalt, chemical, petroleum or fuel, and others. In addition, rising trade and minimizing transportation costs, higher load capacity trailers are used, will boost the above 50,000 lbs. lifting capacity gears.
 

The North America trailer landing gear market demand is likely to account for about350 thousand units by 2028 driven by the advancements in product manufacturing technologies. The growing consumer inclination toward semi-trailers is estimated to spur revenue generation. Trucking holds approx. 70% of the revenue share out of all freight transported in the U.S. and is the preferred method of shipping most goods.
 

The U.S. market development can be attributed to the large automotive sector and increased trailer sales. For instance, in 2021, trailer sales increased by approx. 13.6% in the U.S. Prominent players across the region are focusing on the development of new landing gears with advanced power drive technology.