As per a report published by FMI, the global automotive trailer drawbar market is anticipated to reach US$ 259.1 Million in 2022 and exhibit considerable growth at a CAGR of 9.3% in the forecast period from 2022 to 2032.The global automotive trailer drawbar market size is set to be valued at US$ 561.4 Million in 2032.
Automotive trailer drawbar is a mechanical component that acts as a coupling to connect a vehicle and its load carrying trailer. Axle and Load placement are crucial factors for the efficient towing of the goods where automotive trailer drawbar assist the trailer for efficient and stable running.
There is wide Application of the Automotive Trailer Drawbar in the field of transportation, logistics, industrial and agriculture industry. Automotive trailer drawbar offers the stiffness to the chassis while carrying the load. Automotive trailer drawbar is majorly used in the commercial vehicles for towing the cargo.
In the recent era, increasing trade volume and high demographic business spread across the globe have developed the requirement of efficient transportation and logistics solutions. Increasing usage of transportation and logistics are expected to drive the automotive trailer drawbar market.
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For the manufacturing segment, OEM players concern about transportation cost and quick deployment to reduce the lead time of the manufacturing. To reducing the lead time, Manufacturers need efficient transportation solution which results in swelling demand for the commercial vehicle across the globe. Growing Commercial Vehicle usage is expected to generate a requirement for the automotive trailer drawbar.
Additionally, increasing the use of automotive trailer from end-use industries, such as manufacturing, construction, and transportation is estimated to accelerate the demand for automotive trailer drawbar. Superior roadways connectivity and infrastructure are projected to accelerate the growth of logistics, which in turn to, generate the demand for automotive trailer drawbar. Automotive Safety and structure compliances are becoming a primary concern in many nations, which is projected to affect the production of automotive trailer drawbar in respective countries.
Automotive Trailer drawbar is holding the high maintenance cost in the average operational life. This factor is estimated to hamper the growth of the automotive trailer drawbar market. Easy to Mount, Light in Weight, provide high resistance to the environmental conditions, offer high torque are the prominent emerging trends in the automotive trailer drawbar market.
Automotive Trailer Drawbar Market: Regional Outlook
North America is expected to hold the prominent market share throughout the forecasted period owing to rapid development in the transportation and logistics in the U.S. and Canada. However, emerging economies such as China, India, Turkey is witnessing the increasing usage of commercial vehicles. Increasing usage of the commercial vehicles are expected to accelerate the growth of the automotive trailer drawbar market. Additionally, the rising infrastructure activities and the growing investments by governments in respective regions are anticipated to bolster the global automotive trailer drawbar market in the near future.
Developed nations such as The U. S., Germany, The U. K., Canada demands for the fast and efficient road transportation. This factor will likely to affect the growth of the automotive trailer drawbar market positively. The Asia Pacific region is expected to witness maximum growth in the automotive trailer drawbar owing to increasing trade volume in the respective regions.
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Automotive Trailer Drawbar Market: Segments
The Automotive Trailer Drawbar Market can be segmented on the basis of Design type, Vertical Load Carrying Capacity, sales channel, vehicle type, and region
On the basis of the design type, the Automotive Trailer Drawbar Market can be segmented as:
- The straight drawbar
- The Compound drawbar
- The “A” frame drawbar
On the basis of the vertical load carrying capacity, the Automotive Trailer Drawbar Market can be segmented as:
- Less than 4500 Kg
- 4500 Kg – 7000 Kg
- More than 7000 Kg
On the basis of the sales channel, the Automotive Trailer Drawbar Market can be segmented as:
- Original Equipment Manufacturers (OEM’s)
- Aftermarket
On the basis of the vehicle type, the Automotive Trailer Drawbar Market can be segmented as:
- Passanger Cars
- Commercial Vehicles
- Light Commercial Vehicles (HCV)
- Heavy Commercial Vehicles (LCV)
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List of some of the prominent market participants in the Automotive Trailer Drawbar Market are as follows:
- ALOIS KOBER GMBH
- Nooteboom Trailers
- Distag QCS (UK) Ltd
- BPW Bergische Achsen
- The Cartwright Group
- Premier Manufacturing Company
- Red Rock Manufacturing
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