Trailer Landing Gear Market size is estimated to cross USD 345 million by 2028, according to a new research report by Global Market Insights Inc.
Growing requirements for trailers due to high payload capacity and ground clearance for cargo transport in multiple regions are expected to positively impact the trailer landing gear industry growth. Increasing international & domestic traffic, especially in developing countries will propel the market demand.
The companies operating in the market are majorly focusing on developing lightweight landing gears and are significantly investing in R&D for advanced technologies to develop better electric-powered landing gears. Landing gear manufacturers are continuously expanding their service offerings to enhance the market share.
Get more details on this report - Request Free Sample PDF
The global automotive sector is rising at a prominent pace and witnessing intense competition among major trailer production companies. To intensify the market penetration, major manufacturers are adding more products and decreasing pricing aggressively to compete with local players.
Browse key industry insights spread across 220 pages with 202 market data tables & 17 figures & charts from the report, “Trailer Landing Gear Market Size By Type (Automatic, Manual), By Sales Channel (OEM, Aftermarket), By Lifting Capacity (Less than 20,000 lbs., 20,000 lbs. to 50,000 lbs., Above 50,000 lbs.), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2028”, in detail along with the table of contents:
Substantial growth in the automotive sector globally
The automatic trailer landing gear segment is predicted to account for over 36% of the market share by 2028. The electric-powered landing gear runs effortlessly at exterior climate as low as -20°C. It incorporates highly reliable components that are available in the same mounting heights. The electric-powered landing gear internal drive requires no maintenance. The long-term lubrication applied in the time of production and life-cycle costs are very low.
The trailer landing gear market from OEM sales channel valued at around USD 59 million in 2021. The aftermarket segment leads the industry and is projected to grow at a significant rate through 2028. The increasing awareness about servicing & maintenance of a landing gear has led to the aftermarket growth. Advancements in electric drive technologies allow customers to shift toward new products and increase product sales.
Based on lifting capacity, the 20,000 lbs. to 50,000 lbs. landing gear segment is anticipated to record a prominent growth during 2022 to 2028 owing to the lightweight landing gear products designed to reduce trailer weight without compromising strength. The demand is set to increase due to the rising production of various payload size trailer.
The Asia Pacific trailer landing gear market is poised to witness 5.3% growth rate till 2028. The presence of several trailer component manufacturers in the region will enhance the market revenue. Furthermore, despite the COVID-19 crisis, China and India observed significant sales of automotive vehicles.
Key trailer landing gear market players are AXN Heavy Duty, Butler Products Corp., Fuwa Group, BPW Bergische Achsen KG, H.D. Trailers Pvt. Ltd., haacon, JOST Werke AG, SAF-HOLLAND, Sinotruck Howo Sales Co. Ltd., Yangzhou Tongyi Machinery Co. Ltd., and Zhenjiang Baohua Semi-Trailer Parts Co. Ltd. Manufacturers are engaged in intense research & development activities to meet the growing demand for innovative, durable & cost-effective products, to increase efficiency and lifespan.