Global Market Study on Trailer Axle: Construction Industry Key Growth Lever

Krazymedia13 Jan, 2023Business

Brisk rate of industrialization, buckling international trade activities, and considerable increase in disposable income in emerging economies such as India, China, and Brazil, collectively continue to offer an indirect push to the trailer axle market. Increasing demand for durability of automobiles is anticipated to drive the global automotive trailer axle market. By the end of?2019, the market value of trailer axles is set to reach?US$ 6.5?Bn?and is expected to witness?5%?CAGR through?2029. With a sizeable incremental $ opportunity facing trailer axle market over the projection period, major opportunities are expected to be emerging through strong demand for heavy-duty trailers in developing economies of Latin America, followed by Russia and China.