The global trailer axle market size was US$ 5.9 billion in 2021. The global trailer axle market size is estimated to reach US$ 8.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.8% during the forecast period from 2022 to 2030.
Axle is a central shaft used for rotating the wheels and supporting the weight of the vehicle. It is a crucial element in automobiles and is categorized into three types rear, front, and stub. It is controlled by the movement of the steering in the vehicle. It is used in trucks, cars, buses, trailers, and other vehicles. Moreover, axle types utilized in trailers are of two types torsion axles and leaf spring axles. Spring axles use a spring to support the load and trailer.

Factors Influencing Market Growth

? The growth of the automotive and transportation sector, the introduction of e-axle in trailers, and the introduction of emission rules for transport refrigeration divisions drive the overall market growth.
? Fluctuating costs of raw materials used for manufacturing axles is the factor hindering the overall market growth.
? The rise in the use of lightweight material for manufacturing axles is the factor anticipated to drive the overall market expansion.

Study of the COVID-19 Pandemic

COVID-19 had a severe impact on the overall market expansion. The pandemic crisis has created a delay in the market, due to an adverse impact on the supply chain, dropping business faith, and growing panic among the client elements. Governments around the globe declared a total lockdown and temporary shutdown of sectors, thereby hindering the overall market expansion.

Regional Analysis

North America had dominated the growth of the overall market and dominated the market share during the analysis period. The large-scale need for trailer trucks in countries and the global importance of the automobile market is a key influencer in the region.

Leading Competitors
The prominent players in the global trailer axle market are:
? Willex Trailer and Axle Sales
? Rogers Axle & Spring Works
? Jost Werke AG
? Guangzhou TND Axle
? Guangdong Fuwa Engineering Group
? Dana Incorporated
? Schmitz Cargobull
? BPW Bergische Achsen KG
? Hendrickson USA
? Meritor
? Others

Segmentation Analysis
The global trailer axle market segmentation focuses on Trailer Type, Axle Type, Capacity, Application, Sales Channel, and Region.
Segmentation on the basis of Trailer Type
? Dry van & box
? Refrigerator
? Chemicals & Liquid
? Tippers
? Flatbed
? Others

Segmentation on the basis of Axle Type
? Single Axle
? Tandem axle
? Three or more three-axle

Segmentation on the basis of Capacity
? Lower than 8,000 lbs
? 8,000-15,000 lbs
? 15,000-25,000 lbs
? More than 25,000 lbs

Segmentation on the basis of Application
? Lightweight trailers
? Medium-weight trailers
? Heavy trailers

Segmentation on the basis of Sales Channel
? OEM
? Aftermarket
Segmentation on the basis of Region

? North America
? The U.S.
? Canada
? Mexico
? Europe
? Western Europe
? The UK
? Germany
? France
? Italy
? Spain
? Rest of Western Europe
? Eastern Europe
? Poland
? Russia
? Rest of Eastern Europe
? Asia Pacific
? China
? India
? Japan
? Australia & New Zealand
? ASEAN
? Rest of Asia Pacific
? Middle East & Africa (MEA)
? UAE
? Saudi Arabia
? South Africa
? Rest of MEA
? South America
? Brazil
? Argentina
? Rest of South America