Fifth Wheel Coupling Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029

Rising of Transportation Industry is Driving the Fifth Wheel Coupling Market

Globally, the fifth wheel coupling market is expected to grow with a CAGR of 6.4% during the forecast period from 2021 to 2029, starting from 2020 with a market value of US$ 654.2 Mn. The fifth wheel coupling is the devices, which are used for linking a tractive unit to a towed unit. The main functionality of the fifth wheel is to provide articulation among the tractive and the towed units. These coupling systems consist of kingpin, couplers, mounting plates, various linkages and others. One of the major factor, which is driving the growth of the market, is development in transportation industry. Governments across the globe are investing in improving the road connectivity and developing road transportation, which ultimately drives the fifth wheel coupling market.

The increasing number of tractors, trucks, and carrying vehicles are increasing with the increase in petrochemical industries, carrier industries and others, which requires the fifth wheel for transporting of various goods and heavy machines leading to drive the growth of the market. Furthermore, development in construction industry and growing industrialization, and enhancements in the mining and petrochemical industries is also fueling the growth of fifth wheel coupling market. However, dearth of intent to expand transport facilities, and poor infrastructure in various regions are expected to hinder the market growth during the forecast period.

Fifth Wheel Coupling With Semi-Oscillating its Product Type Segment Continue Dominating the Market

In 2020, the overall fifth wheel coupling market was led by the semi-oscillating segment in its product type segment contributing to more than 1/4th of market share of the total revenue generated globally in 2020. The demand of semi-oscillating is increasing due to its application in on-road trailer trucks. Moreover, the stability of these products is much better than the other ones, making it a reliable component for transportation in terms of luggage or goods safety.

Asia-Pacific Dominates the Market by Region

The global fifth wheel coupling market was led by Asia-Pacific region due to growing expansion of international companies, and increasing number of local players such as Zhenjiang Baohua Semi-Trailer Parts Co. Ltd, Xiamen Wondee Autoparts Co., Ltd. and others. The region holds more than 1/3rd of the market share. Additionally, the rapid development in road transportation market in the region is also propelling the growth of the market. In Asia-Pacific, China accounts the largest market share in the region followed by India and Japan.

Some of the prominent players operating in the fifth wheel coupling market include JOST Werke AG, Guangdong Fuwa Engineering Group, Zhenjiang Baohua Semi-Trailer Parts, Sohshin Co. Ltd., SAF Holland, Fontaine Fifth Wheel, RSB Group, Tulga Fifth Wheel Co., Hunger Hydraulics Group, TITGEMEYER Group, ACCL (PL Haulwel Trailers ), Xiamen Wondee Autoparts, Land Transport Equipment Co.,Ltd.

Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2021 to 2029.

Key questions answered in this report

• What was the market size of fifth wheel coupling in 2020 and forecast up to 2029?
• Which is the largest regional market for semi-oscillating in product type?
• What are the major trends followed in fifth wheel coupling market across different regions?
• Who is the key fifth wheel coupling companies leading the market?
• What are the key strategies adopted by the leading fifth wheel coupling companies in market?

Unique data points of this report

• Statistics on fifth wheel coupling penetration and spending worldwide
• Recent trends across different regions in terms of adoption of fifth wheel coupling for various operations.
• Notable developments going on in fifth wheel coupling market
• Attractive investment proposition for segments as well as geography
• Comparative scenario for all the segments for years 2020 (actual) and 2029 (forecast)

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