The worldwide market for truck landing gear during 2018 will touch US dollar 253 Million and the overall market is anticipated to reflect a 4.8% CAGR and touch US dollar 365 Million before the end of 2026. The worldwide market will generate an incremental $ prospects valuing US dollar 112 Million all through the assessment period.
By lifting capacity, the global market is categorized into more than 50,000 lbs, 20,000 lbs to 50,000 lbs and less than 20,000 lbs. 20,000 lbs to 50,000 lbs category, on the basis of revenue, will hold substantial market share due to the extensively increasing requirement worldwide. Briefly, more than 50,000 lbs category will hold around 50% of the overall market share in contrast to 20,000 lbs & 50,000 lbs category. Furthermore, this lifting capacity category will generate an incremental $ prospect valuing US dollar 111.8 Million for the duration of the forecast.
By the operation, the worldwide market is categorized into automatic and manual. Of these, the manual category seizes the majority of share as they are less expensive as well as do not necessitate any further power source. Conversely, in terms of growth, the automatic category will reflect remarkable prospects in the worldwide market since the automotive sector in leaning towards automation. Based on the sales channel, the worldwide market includes aftermarket and OEM. The OEM category will lead the overall market all through the assessment period. In value share terms, the aftermarket category will capture 12.8% of the market share between 2018 and before 2026, this category will capture 81.7% of the overall market’s share in absolute $ prospects.
Region-wise, Europe is anticipated to lead the worldwide market & is figured to increase at a 3.1% CAGR throughout 2018-2026. China is anticipated to increase at a 6% CAGR in the worldwide market and is expected to be trailed by Europe. The Chinese government is majorly centered on recovering in general vehicle competence by the usage of lightweight materials and by enforcing government regulations concerning to security of trailers. Latin America is likely to increase at a notable CAGR for the duration of the forecast. In addition, the South East Asia & Pacific regional market will foresee CAGR of 5.3% in the worldwide market as foremost makers are switching their trailer parts manufactories to Australia.
The foremost companies active in the worldwide market are SAF-HOLLAND S.A., JOST Werke AG , Butler Products Corp., Guangdong Fuwa Engineering Group Co. Ltd., York Transport Equipment (Asia) Pte Ltd., BPW Bergische Achsen KG, H. D. Trailers Pvt Ltd., AXN Heavy Duty, LLC, Zhenjiang Baohua Semi-Trailer Parts Co., Ltd., Sinotruck Howo Sales Co Ltd., Yangzhou Tongyi Machinery Co. Ltd., haacon hebetechnik gmbh and others.