Technavio, a tech-focused market research firm, has published a new report on the global automotive fifth-wheel coupler market, which is expected to experience a steady growth rate with a CAGR of more than 7% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global automotive fifth-wheel coupler market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global automotive fifth-wheel coupler market into the following key regions: The Americas, APAC, and EMEA.
Geographical segmentation of the global automotive fifth-wheel coupler market for 2015 (market share %)
|
Americas |
39% |
|
EMEA |
33% |
|
APAC |
28% |
Source: Technavio
The Americas: Largest revenue generating region for automotive fifth-wheel couplers
The automotive fifth-wheel coupler market in the Americas is expected to grow at a CAGR of almost 6% during the forecast period owing to high utilization of heavy-duty trucks requiring heavy payloads for logistics purposes and massive popularity of luxury RVs in North America.
According to Siddarth Jaiswal, a lead analyst at Technavio, specializing in research on automotive components, “The towable RVs market in North America is primarily driven by the growing demand from baby boomers. The demand for pre-owned towable RVs has also grown significantly, contributing to the overall market growth. Strong growth in the North American market is expected as customers are replacing trucks with new models for better fuel efficiency, productivity, and reliability to meet emission standards. Moreover, the surging demand for high-performance trucks in countries like Mexico, Chile, and Panama will result in the positive growth of the market in the Americas.”
OEMs in the region are focusing on increasing efficiency, minimizing costs in sales and services, and updating to huge high-quality trucks in the mining industry to enhance the overall plant efficiency. The trucks segment accounts for around 60% of the Americas freight, and the continuous growth of this segment will lead to requirement surge for fifth-wheel couplers in the coming years.
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Automotive fifth-wheel coupler market in EMEA
The automotive fifth-wheel coupler market in EMEA occupied around 33% of the total market share and is expected to grow at a CAGR of about 3% over the predicted period. Much of the region’s high growth comes from the increase in popularity of towable RVs in the western part of the Europe and surge in the use of road networks by heavy-duty trucks for transportation purposes. The market in the region is primarily driven by the increasing mining and construction activities in Africa and the Middle East countries and OEMs building technologies to cope with emission standards drives the growth in Europe. Moreover, the region also has the presence of strong vendors such as Daimler, Volkswagen, and Volvo. Though Europe is facing a prolonged economic downturn and a new round of uncertainty from a possible exit of the UK from the EU, the rapid economic growth from Eastern Europe and improvements in Western Europe should stimulate the growth of fifth-wheel coupler in this region during the forecast period. Furthermore, the massive growth in farm income and growing middle-class population have boosted demand for all heavy machinery for agricultural practices in the EMEA region.
Automotive fifth-wheel coupler market in APAC
The automotive fifth-wheel coupler market in APAC will grow at a steady CAGR of more than 5% over the next four years, mainly due to the rise in the agricultural practices that require heavy equipment in countries like China and India. The constantly increasing population in these nations have led to the demand for heavy-duty sowing equipment that is driving the growth of fifth-wheel couplings in the market. In 2015, APAC occupied a significant portion of the market share in the high-performance trucks segment and was continue its dominance over the forecast period owing to the increased demand in India and Indonesia. Moreover, the rise in export of Chinese trucks to the developed markets is also contributing to the further growth of this market in APAC. The entry of global OEMs into emerging markets like India, China, and Indonesia due to attractive domestic consumption, low labor expenses, augmented mining activities, and infrastructure investment across the region are driving the market growth in APAC. Significant demand for high-performance trucks from countries such as South Korea, Taiwan, Singapore, Malaysia, Vietnam, and Indonesia will propel growth prospects for this market in the coming years.
The top leading vendors operating in the global automotive fifth-wheel coupler market are:
- Fontaine Fifth Wheel
- Hitch Corner
- SAF-HOLLAND
- JOST
Other prominent vendors in the market include Eidal International and Capus.
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive Fifth-Wheel Coupler Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Commercial Vehicle Advance Driver Assistance Systems Market 2016-2020
- Global Truck Platooning System Market 2016-2020
- Global Automotive Immobilizer Market 2016-2020
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