The global trailer surge brake market is expected to grow at a stable rate of 3% through the forecasted years of 2022 to 2032. The trailer surge brake market size is anticipated to reach a valuation of around US$ 8 Billion by the end of this forecast period from the current valuation of US$ 5.9 Billion in current year of 2022.
Several of the characteristics of these sorts of brakes that would propel the trailer surge brake market are the activation without any energy supply and the utilisation of the trailer’s inherent motion to operate the braking assembly in the locomotives. The linkage between the trailer and the tow vehicles is made simpler by the fact that these brakes may be used with any type of trailer and do not need to be electrically engaged. Therefore, the trailer surge braking systems continue to have a sizable market position in the automotive industry and is anticipated to grow steadily through the course of the years.
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Interestingly, the need for surge brake accessories is growing quickly in this adjacent sector, which is supplying cutting-edge equipment to boost the usefulness and sales of trailer surge brake systems in a spiral manner.
The market for trailer surge brakes in South Asian countries is anticipated to rise at an unheard-of rate due to the expansion of cargo and freight services in this area. Additionally, it is anticipated that the trailer surge brake market in North America would expand faster than usual due to the rising use of marine trailers and automobile trailers.
On the other hand, the minimal utilisation of such trailers in the bulk of African nations, the Middle East and African markets that are anticipated to stay static. China and Japan are projected to lead the East Asian trailer surge brake market during the forecast period which is anticipated to expand at a remarkable rate during these years
Key Takeaways from Trailer Surge Brake Market Study
- The overall growth of the global trailer surge brake market is estimated to be around US$ 2.1 Billion over the next ten years, and this absolute growth is expected to be achieved by following the predicted CAGR of 3%.
- The drum sub segment of the trailer surge market according to its different types is the highest selling entity in the market.
- Automobile semi-trailers category still lead the other categories of the trailer surge on the basis of application.
- In recent past years, there has been a significant increase in the market share of marine trailer segment for the application of trailer surge brake.
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Competitive Landscape for the Global Trailer Surge Brake Market
Dexter Axle Company, CURT Manufacturing LLC, Demco, TIE DOWN ENGINEERING, Heritage Custom Trailers, PJ Trailers, Croft Trailer Supply, Lippert Components, Inc., Atwood, Rigid Hitch, among others are some of the global trailer surge brake market key players.
The automotive industries across several countries have grown their businesses by branching out into the production of automotive parts, and they have developed into important regional players that collectively account for a sizable portion of the worldwide trailer surge brake market share as well.
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Recent Developments in the Global Trailer Surge Brake Market:
IPA Future, is a U.S.-based manufacturer of trailer tools, which has created a sophisticated diagnostic trailer tester with a few unique uses for fixing surge brake issues. It was specifically constructed for side-mount tool boxes, which is anticipated to increase demand for trailer surge braking systems in the unconventional vehicles.
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