The global fifth wheel coupling market is worth US$ 637.1 Million as of now and expected to reach US$ 1.1 Billion by the year 2033 at a CAGR of 5.8% between 2023 and 2033.
With developing economies witnessing rapid urbanization, the global fifth wheel coupling market is expected to grow on a splendid note in the forecast period.
Urbanization involves an extra focus on safety of the goods to be transported in HCVs (Heavy Commercial Vehicles). This, in turn, asks for fifth wheel coupling for joining tractor unit with towing truck, semi-trailer, and lead trailer or dolly in vehicles having a noticeable weight carrying capacity. In other words, the functionality of fifth wheel coupling is that of acting as coupling device between trailers and towing vehicles in the HCVs. This action has been reported to enhance fuel efficiency and also enhance operation of the HCVs.
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Recreation Vehicle Industry Association states that shipments of recreational vehicles are witnessing tremendous growth post-recession; and the trend is expected to continue even going forward.
Future Market Insights has etched these facts with future prospects in its latest market study entitled ‘Fifth Wheel Coupling Market’. It has its team of analysts and consultants to execute using a 360-degree approach in its primary, secondary, and tertiary modes of research.
“With substantiation in the construction vertical all across the Asia-Pacific, the global fifth wheel coupling market is expected to go great guns in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Fifth Wheel Coupling Market
- North America and Europe are at the matured stage of fifth wheel coupling market and the scenario is expected to remain unchanged even in the forecast period.
- The Asia-Pacific is expected to grow at the fastest rate in the fifth wheel coupling market. This could be reasoned with an exceptional increase in construction activities, which ask for semi-trailer couplings.
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Competitive Coupling
- JOST, in November 2022, did decide upon expansion of operations all across Dubai. This office is into deploying products such as fifth wheel coupling, trailers axels, landing gears, and kingpins.
- Paige Petroni, in June 2022, did get appointed as President for Fontaine Fifth Wheel. The other domains handled by her till date include sales, finance, and also as ‘Company Controller’.
- SAF Holland leads in semi-trailers, trailers, buses, and trucks.
- Fontaine Fifth Wheel, in 2022, did come up with automotive fifth wheels for the heavy-duty applications and have been made available in stationary as well as sliding configurations.
- Axicle (based out of California) has, of late, come up with TARS (Trailer Anti Roll System) – a fifth-wheel coupling. It is capable of quickly uncoupling a trailer from a semi (if it’s about to roll over), thereby keeping tractor with driver inside from attempting the same. The system thus makes use of sensors for monitoring roll angle of trailer along with activating an actuator for disconnecting trailer. This happens when rollover is to occur.
The top players are:
- JOST Werke AG
- SAF Holland
- Fontaine Fifth Wheel
- Guangdong Fuwa Engineering Group
- Zhenjiang Baohua Semi-trailer parts
What does the Report state?
- The research study is based on product type (compensating, semi oscillating, and fully oscillating), by operation (hydraulic, pneumatic, mechanical), by capacity (below 20 tons, between 20 and 30 tons, between 30 and 45 tons, and above 45 tons), by material type (cast steel, cast iron, fabricated steel, aluminum, and likewise), and by sales channel (OEM and aftermarket).
- With increasing emphasis on products’ safe transportation, the global fifth wheel coupling market is expected to grow on an inadvertent note in the forecast period.
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Fifth Wheel Coupling Market Segmentation
By Product Type:
- Compensating,
- Semi Oscillating,
- Fully Oscillating
By Operation:
- Hydraulic,
- Pneumatic,
- Mechanical
By Capacity:
- below 20 tons,
- between 20 tons to 30 tons,
- between 30 tons to 45 tons,
- above 45 tons
By Material Type:
- Cast Steel,
- Cast Iron,
- Fabricated Steel,
- Aluminium,
- Others
By Sales Channel:
- OEM,
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- MEA
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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