A recent
report published by Infinium Global Research on the fifth wheel coupling market
provides an in-depth analysis of segments and sub-segments in the global as well
as regional fifth wheel coupling market. The study also highlights the impact
of drivers, restraints, and macro indicators on the global and regional fifth
wheel coupling market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of the global
fifth wheel coupling market. According to the report, the global fifth wheel
coupling market is projected to grow at a CAGR of 5.2% over the forecast period
of 2019-2025.
Fifth wheel
coupling is enhancing the load carrying capacity of heavy transportation
vehicles such as trucks and tractors. Kenworth, a leading truck manufacturer in
the U.S. is now providing fifth wheel coupling from JOST Werke AG in their T680
trucks as a standard component. Another American truck manufacturer Peterbilt
is also providing its Model 579 Class 8 truck with JOST JSK37 12” inboard air
slide the fifth wheel as standard. The fifth wheel coupling market is evolving as
the technology is advancing further. For instance, Fontaine International Corp,
a leading fifth wheel coupling provider has showcased its new range of fifth
wheel couplings at the IAA show, in June 2019. The latest offering from
Fontaine Fifth wheel includes TechLock® system, a single safety clip sensor,
and extended handle.
The rising
population has led to the expansion of agriculture and manufacturing
industries, which in return drove the demand for transportation. This is
propelling the growth of the fifth wheel coupling market. Moreover, the growing
industrialization and construction activities are augmenting the demand for
fifth wheel coupling devices. Furthermore, as the petrochemical and mining
industries are growing, particularly in Europe and the Middle East & Africa,
the demand for transportation is also increasing. This will boost the demand
for fifth wheel coupling devices for cost-effective transportation of
materials, providing better safety and increased productivity. However, poor
road infrastructure and improper maintenance of roads along with a lack of
intent to improve transport facilities are the major factor hampering the
demand for road transportation and consequently hindering the fifth wheel
coupling market. Additionally, increasing awareness among the consumers about
environmental protection is driving the growth of the waste management
industry, which in turn boosts the growth of the logistic industry and
consequently expands the growth of the fifth wheel coupling market.
Based on the
region, Asia Pacific dominated the market, accounting for the largest share of
the global market, followed by North America. The presence of key market
players in China is influencing the production and distribution of fifth wheel
coupling positively. Moreover, the growing demand for heavy duty trailers is
also expected to lift the growth of the market in the region. The matured
automotive market and high penetration of advanced technology in the North
America region attributed to its second largest share in the global market.
Furthermore, high sales of heavy commercial vehicles in the region lead to the
adoption of advanced technologies.
The report on
global fifth wheel coupling market covers segments such as product type,
operation, load carrying capacity, and sales channel. On the basis of product
type, the sub-markets include compensating, semi oscillating, and fully
oscillating. On the basis of operation, the sub-markets include hydraulic,
pneumatic, and mechanical. On the basis of load carrying capacity, the
sub-markets include below 20 tons, 20-30 tons, 30-45 tons, and more than 45
tons. On the basis of sales channel, the sub-markets include OEM, and
aftermarket.
The report
provides profiles of the companies in the market such as JOST Werke AG,
SAF-Holland S.A, Fontaine International Corp, RSB Group, Guangdong Fuwa
Engineering Group Co., Ltd., Sohshin Co. Ltd., Hitachi Ltd., Tulga Fifth Wheel
Co., Hunger International GmbH, Shandong Fuhua Axle Co., Ltd., and Other
Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the fifth wheel coupling market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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