Global Trailer Axle Market is Anticipated to Witness Steady Growth Owing to Rising Demand for Transportation of Goods
Global Trailer Axle Market Market Overview A trailer axle system is a crucial part of trailers and semi-trailers that are used for cargo transportation. Trailer axles support the weight of the trailer body and cargo and transmit it to the wheels. Key functions of trailer axles include enabling braking, suspension, steering, and safe towing of loads. Growing e-commerce and construction industries have augmented the demand for cargo transportation through roadways, driving the need for trailers and semi-trailers. This, in turn, is fueling the growth of the global trailer axle market. The Global Trailer Axle Market is estimated to be valued at US$ 8.23 Bn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2031. Key Takeaways Key players operating in the Global Trailer Axle Market are BPW Group, DexKo Global Inc., Meritor, Inc., Hendrickson Corporation, FUWA K Hitch, Shandong Huayue, TND Trailer Axle, JOST Axle Systems, SAF-Ho Hendrickson USA, L.L.