Press release
Trailer Suspension System Market Expected to Witness a CAGR of 5.0% through 2022-2030
Safety is an important criterion for manufacturers in the global trailer suspension system market. A suspension system influences the driver's comfort and safety, especially when driving on rough terrain. Increasing concerns toward safety by end consumers is anticipated to bolster the demand for trailer suspension systems.
According to PMRs study, the COVID-19 outbreak remains a hindrance for trailer production activities, worldwide, as countries that are major trailer production centers, such as the U.S, China, and Germany, among others, have been badly affected. The COVID-19 pandemic is also expected to significantly impact trailer demand in the short-term. In the long-term however, the global trailer suspension system market is projected to expand at a decent CAGR of 5% over the forecast period of 2020 to 2030.
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Key Takeaways from Trailer Suspension System Market Study
Various manufacturers are focusing on innovations in product technologies, such as zero-maintenance damping (ZMD) ride suspension technology, which offers better comfort while driving and improves overall product durability.
Strict rules and regulations by various government authorities on limiting the overall length and load capacity of trailers have resulted in significantly reducing car carriage capacity from 22 cars per trailer carrier to 6/10 cars per vehicle, depending on the trailer type. These factors are anticipated to drive the demand for new trailer sales over the forecast period.
Asia Pacific is alone expected to hold more than 1/3 share of the global trailer suspension system market.
End users prefer air suspension systems over other product types, owing to technology advances, lesser price, and lightweight aspect. This has increased the trade-in value or resale of trailers, besides reducing maintenance costs.
One of the primary challenges in the trailer suspension system market is their reduced replacement rate.
For critical insights on this market, request for customization here@ https://www.persistencemarketresearch.com/request-customization/31670
Market Landscape Moving toward Consolidation
The global trailer suspension system market is notably fragmented, with the presence of numerous market participants that have expertise in advanced manufacturing techniques. Stakeholders in emerging markets are poised to expand their business operations and increase value-addition in their product offerings through portfolio rationalization. Numerous manufactures in the trailer suspension system market have developed their product lines with focus on key trailer types. Manufacturers are also focusing on improving their R&D capabilities to introduce new lightweight trailer suspension systems that help reduce overall trailer weight and maintenance costs, and increase fuel efficiency along the way.
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Persistence market research
Address - 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com
About us: -
Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
According to PMRs study, the COVID-19 outbreak remains a hindrance for trailer production activities, worldwide, as countries that are major trailer production centers, such as the U.S, China, and Germany, among others, have been badly affected. The COVID-19 pandemic is also expected to significantly impact trailer demand in the short-term. In the long-term however, the global trailer suspension system market is projected to expand at a decent CAGR of 5% over the forecast period of 2020 to 2030.
To remain 'ahead' of your competitors, request for a Sample@ https://www.persistencemarketresearch.com/samples/31670
Key Takeaways from Trailer Suspension System Market Study
Various manufacturers are focusing on innovations in product technologies, such as zero-maintenance damping (ZMD) ride suspension technology, which offers better comfort while driving and improves overall product durability.
Strict rules and regulations by various government authorities on limiting the overall length and load capacity of trailers have resulted in significantly reducing car carriage capacity from 22 cars per trailer carrier to 6/10 cars per vehicle, depending on the trailer type. These factors are anticipated to drive the demand for new trailer sales over the forecast period.
Asia Pacific is alone expected to hold more than 1/3 share of the global trailer suspension system market.
End users prefer air suspension systems over other product types, owing to technology advances, lesser price, and lightweight aspect. This has increased the trade-in value or resale of trailers, besides reducing maintenance costs.
One of the primary challenges in the trailer suspension system market is their reduced replacement rate.
For critical insights on this market, request for customization here@ https://www.persistencemarketresearch.com/request-customization/31670
Market Landscape Moving toward Consolidation
The global trailer suspension system market is notably fragmented, with the presence of numerous market participants that have expertise in advanced manufacturing techniques. Stakeholders in emerging markets are poised to expand their business operations and increase value-addition in their product offerings through portfolio rationalization. Numerous manufactures in the trailer suspension system market have developed their product lines with focus on key trailer types. Manufacturers are also focusing on improving their R&D capabilities to introduce new lightweight trailer suspension systems that help reduce overall trailer weight and maintenance costs, and increase fuel efficiency along the way.
Buy Full Report Now and Get Up to 20% Discount @ https://www.persistencemarketresearch.com/checkout/31670
Persistence market research
Address - 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com
About us: -
Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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