Persistence Market Research presents a new report titled ‘Fifth Wheel Coupling Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 – 2025’ that studies the performance of the global fifth wheel coupling market over an eight year assessment period from 2017 to 2025. The report presents the value and volume forecasts of the global fifth wheel coupling market and provides important insights into the factors driving market growth as well as the factors restricting market growth. As per the assessment of Persistence Market Research, the global fifth wheel coupling market was estimated to be valued at nearly US$ 460 Mn in 2017 and is anticipated to touch a valuation of nearly US$ 700 Mn in 2025 and in the process exhibit a CAGR of 5.4% during the period of forecast 2017-2025.
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Advanced Material Technology Positively Impacting the Global Fifth Wheel Coupling Market
The adoption of advanced material technology in automobile components increases the load capacity as well as strength of the component. The increased load capacity of fifth wheel couplings results in increasing productivity, which in turn is expected to fuel the growth of the fifth wheel coupling market in the coming years. Moreover, stringent emission standards in countries, such as Germany, the U.K. and Italy, are compelling automotive manufacturers to make fuel efficient vehicles. To achieve fuel economy, auto makers are trying to reduce the weight of vehicles and their components, which will support the demand for light weight automotive fifth wheel couplings. These advanced material fifth wheel couplings are relatively light weight and hence, improve the durability and performance of vehicles. These features are expected to propel the growth of the fifth wheel coupling in the market in the coming years.
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Global Fifth Wheel Coupling Market: Segmentation and Forecast
The global fifth wheel coupling market is segmented on the basis of product type, operation, capacity, sales channel and region.
- By product type, the semi oscillating segment was estimated to be valued at nearly US$ 294 Mn in 2017 and is anticipated to reach a valuation of nearly US$ 445 Mn in 2025, displaying a CAGR of 5.3% during the period of assessment 2017-2025.
- By operation, the mechanical segment is expected to reach a valuation of nearly US$ 460 Mn in 2025, exhibiting a CAGR of 4.7% during the period of forecast.
- By capacity, the below 20 tons segment was estimated to be valued at nearly US$ 75 Mn in 2017 and is likely to reach a valuation of nearly US$ 110 Mn in 2025.
- By sales channel, the OEM segment is anticipated to exhibit a CAGR of 5.3% during the period of forecast.
- By region, the Asia Pacific fifth wheel coupling market was estimated to be valued at nearly US$ 181 Mn in 2017 and is anticipated to reach a valuation of US$ 310 Mn in 2025.
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