Research Report Insights (RRI) delivers key insights on the global Fifth Wheel Couplingmarket in its latest report titled ‘Fifth Wheel CouplingMarket by 2025.’ The long-term outlook on the global Fifth Wheel Couplingmarket remains positive, with market value expected to increase at a CAGR of 5.4% during the forecast period (2017 – 2025). Among the fifth wheel coupling product type segment, the Semi Oscillating segment is expected to expand at a significant CAGR in terms of value over the forecast period. Among all operation segments, Hydraulic and Pneumatic segments are anticipated to witness higher CAGR in terms of value over the forecast period. Global sales of Fifth Wheel Couplingis estimated to be valued at US$ 460.1 Mn by the end of 2017. Moreover,APAC is estimated to account for a value share of 39.4% in the global Fifth Wheel Couplingmarket by 2017 end and it is anticipated to retain its dominance throughout the forecast period.
The adoption of advanced material technology in automobile components increases the load capacity as well as strength of the component. The increased load capacity of fifth wheel couplings results in increasing productivity, which in turn is expected to fuel the growth of the fifth wheel coupling market in the coming years. Moreover, stringent emission standards in countries, such as Germany, the U.K. and Italy, are compelling automotive manufacturers to make fuel efficient vehicles. To achieve fuel economy, auto makers are trying to reduce the weight of vehicles and their components, which will support the demand for light weight automotive fifth wheel couplings. These advanced material fifth wheel couplings are relatively light weight and hence, improve the durability and performance of vehicles. These features are expected to propel the growth of the fifth wheel coupling in the market in the coming years.
Increasing concerns and growing awareness among the population regarding environmental safety are proving to a major challenge for the heavy commercial vehicles sector. People are using alternative sources of transportation, such as trains and airplanes, for the transportation of goods. Rigorous government rules and regulations pertaining to environmental pollution are estimated to increase the operational cost of heavy duty commercial vehicles, which in turn will decrease the overall demand for these vehicles and indirectly affect the growth of the fifth wheel coupling market
• On the basis of product type, the Semi Oscillating segment is anticipated to continue dominate the market in terms of value over the forecast period
• On the basic of operation, Hydraulic segment is anticipated to witness robust growth in terms of value over the forecast period and expected to expand at a CAGR of 7.3% over the forecast period
• On the basis of Capacity, the between 20 and 30 tonssegment is anticipated to dominate the market in terms of value and volume. This segment is expected to account for 62.4% volume share in 2017
• On the basic of Sales Channel, OEMsegment is driven the growth of the fifth wheel coupling market and account for 95.3% value share in 2017
APAC is estimated to account for 39.4% value share in the global Fifth Wheel Couplingmarket by the end of 2017. The APAC Fifth Wheel Couplingmarket is expected to remain dominant over the forecast period. This growth is due to increase in construction activities and industrialization in Asia Pacific region. China accounts for 73.8% market share in term of value. Furthermore, Latin America and MEA is also expected to grow with healthy CAGR.
The report highlights some of the top companies operating in the global Fifth Wheel Couplingmarket such as SAF-Holland S.A , JOST Werke AG, Guangdong Fuwa Engineering Group Co., Ltd., Sohshin Co. Ltd., Zhenjiang Baohua Semi-Trailer Parts Co. Ltd , Fontaine Fifth Wheel, Tulga Fifth Wheel Co., RSB Group, Hunger Hydraulics Group, ACCL (PL Haulwel Trailers ), TITGEMEYER Group, FOSHAN YONGLITAI AXLE CO.,LTD., Xiamen WondeeAutoparts Co., Ltd. ,Shandong Fuhua Axle Co., Ltd. and Land Transport Equipment Co.,Ltd, among others.