Trailer Axle Global Market Report 2024

The global trailer axle market has grown strongly in recent years. It will grow from $4.07 billion in 2023 to $4.28 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth observed in the historical period was driven by the expansion of the transportation and logistics industry, increased demand for specialized trailers, stricter emission regulations governing vehicles, emphasis on improving fuel efficiency, and compliance with stringent safety regulations.

The global trailer axle market is expected to see strong growth in the next few years. It will grow to $5.27 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The anticipated growth in the forecast period is expected due to the increased demand for electric and hybrid trailers, a surge in green initiatives and sustainability efforts, incorporation of advanced safety features, emphasis on using lightweight materials, and the adoption of predictive maintenance practices. Major trends projected in this period include customization for urban mobility needs, integration of telematics and IoT technologies, designs focused on durability and low-maintenance requirements, preference for disc brakes over drum brakes, and collaborations between companies to drive innovation.

The trailer axle market is anticipated to experience growth, driven by the increasing prominence of the automobile market. The shifting dynamics of the economy and an improved standard of living have elevated purchasing power, leading to a heightened demand for automobiles. Additionally, the global demand for personal mobility has seen a sudden surge due to the impacts of COVID-19. This increased demand for automobiles has, in turn, stimulated higher production and the need for trailer axles. Notably, in April 2022, a report from the European Automobile Manufacturers Association revealed a 1.3% year-over-year increase in the global production of motor vehicles, reaching 79.1 million units in 2021. As a result, the growing significance of the automobile market is poised to be a driving force for the trailer axle market.

The expansion of the transportation industry is expected to contribute to the growth of the trailer axle market. The transportation sector, encompassing the movement of goods and people through various modes such as road, rail, air, water, and pipelines, relies on trailers attached to trucks and other vehicles. To ensure smooth and safe journeys, there is a need for durable and technologically advanced axles. As of February 2023, the U.S. transportation industry is valued at $1.36 trillion, emphasizing the substantial role it plays in the economy. Consequently, the expansion of the transportation industry is identified as a significant driver for the trailer axle market.

A key trend in the trailer axle market is technological advancement, with major players introducing innovations such as e-axles to sustain market growth. E-axles integrate electric motors, power-control electronics, two- or three-speed reduction gearing, and the axle's center. This technological advancement addresses the need for more efficient and environmentally friendly solutions. For instance, in 2022, Woolworths Group, a Sydney-based retailer, conducted testing on Australia's first 'e-axle trailer,' harnessing kinetic energy from its axle and wheels to generate electricity. The produced electricity powers the refrigeration system, reducing diesel consumption and exemplifying a move towards more sustainable and advanced trailer axle technologies in the market.

Major players in the trailer axle market are strategically forging partnerships and collaborations with start-ups and mid-sized companies to diversify their product and service offerings. These strategic collaborations and partnership agreements serve as avenues for companies to expand their existing product portfolios and extend their geographical reach. A notable example is the September 2022 collaboration between SAF-Holland, a Germany-based equipment specialist, and Carrier Transicold, a US-based cold chain solutions provider. This collaboration focused on the development of SAF-Holland's SAF TRAKr recuperation axle, which commenced series production in 2022. The SAF TRAKr recuperation axle represents a significant advancement in e-transport, offering benefits such as lower fuel consumption, reduced CO₂ emissions, decreased particulate matter, improved noise protection, more efficient processes, and compliance with current legislation. These advantages contribute to cost reduction and increased sustainability in heavy-duty transport.

In January 2021, DexKo Global Inc., a US-based leader in highly engineered trailer running gear, chassis assemblies, and related components, made an undisclosed acquisition of Dexter Axle Company. This strategic acquisition aims to enhance service capabilities by expanding the geographical footprint, providing improved customer coverage through a diverse product portfolio, and delivering greater value to business partners. Dexter Axle Company, the acquired entity, is a US-based manufacturer specializing in trailer axles and trailer brakes. This partnership exemplifies the commitment of major players in the trailer axle market to strengthen their positions through strategic acquisitions, ensuring a comprehensive and competitive offering in the market.

Major companies operating in the trailer axle market report are DexKo Global Inc., Meritor Inc., BPW Bergische Achsen KG, Guangdong Fuwa Engineering Group Co. Ltd., JOST Werke AG, SAF-Holland S.A., Hendrickson Holdings LLC, Shandong Huayue Vehicle Parts Co. Ltd., TND Trailer Axle Co. Ltd., Schmitz Cargobull AG, York Transport Equipment (Asia) Pte Ltd., Dexter Axle Company, American Axle & Manufacturing Inc., Jiangling Motors Corporation Group Co. Ltd., Dana Incorporated, ZF Friedrichshafen AG, Redneck Trailer Supplies, Lippert Components Inc., Al-Ko Kober SE, GKN Wheels & Structures Ltd., TSE Brakes Inc., Haldex AB, AxleTech International SAS, Tuthill Transfer Systems, Ingersoll Axles Corp., Torsion-Flex, Rockwell American, Hayes Axle Inc., Timbren Industries Inc., Southwest Wheel Co., Kodiak Trailer Components Inc., Tie Down Engineering Inc.

North America was the largest region in the trailer axle market in 2023. The regions covered in the trailer axle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the trailer axle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Different types of trailer axles include single axle, tandem axle, and configurations with three or more axles. A single axle refers to a grouping of wheels that span the entire width of a vehicle, with their centers aligned within a specific distance from another axle. Single axle vehicles are primarily designed for city, local, and regional deliveries. Trailers utilizing these axles encompass various types such as dry van and box, refrigerated, chemical and liquid transporters, tippers, flatbeds, and others. These axles are utilized across lightweight, medium-weight, and heavy trailers.

This report provides trailer axle market statistics, including trailer axle industry global market size, regional shares, competitors with a trailer axle market share, detailed trailer axle market segments, market trends and opportunities, and any further data you may need to thrive in the trailer axle industry. This trailer axle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The trailer axle market consists of sales of spring and torsion type axle. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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