A recent report published by Infinium Global Research on fifth wheel coupling market provides 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 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 the 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 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 their 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 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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