New York, US, Oct. 27, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), Truck Trailer Landing Gear Market Research Report: Information by Operation, Sales Channel, Lifting Capacity, and Region- Forecast till 2030, the global market for truck trailer landing gears is anticipated to thrive substantially during the assessment timeframe from 2022 to 2030 at a healthy growth rate of approximately 4%.
Truck Trailer Landing Gear Market Overview:
The landing gear for the truck trailer is retractable supports that keep the trailer's height.
Truck Trailer Landing Gear Market Competitive Analysis
The catalog for the key participants across the global Truck Trailer Landing Gear Market includes players such as:
- JOST Werke AG (Germany)
- HaaconHebetechnik GmbH (Germany)
- SAF-HOLLAND S.A (Germany)
- Zhenjiang Baohua Semi-Trailer Parts Co, Ltd (China)
- Guangdong Fuwa Engineering Group CO, LTD (China)
- Yangzhou Tongyi Machinery CO, LTD (China)
- Buttler Products Corp. (U.S.)
- AXN Heavy Duty (U.S.)
- BPW BergischeAchsen KG. (Germany)
- Interstate Trailer Inc (U.S.)
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Truck Trailer Landing Gear Market Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 345 Million |
| Growth Rate | CAGR of 4% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | Growth of the industrial and agricultural sectors |
| Key Market Drivers | Increased use of lightweight truck landing gears |
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Truck Trailer Landing Gear Market USP Covered
Truck Trailer Landing Gear Market Drivers
The global truck trailer landing gears market has shown massive development in the last few years. The market's growth is ascribed to the aspects such as increased use of lightweight truck landing gears, rising research and development, and growth of vehicle manufacturing.
Truck Trailer Landing Gear Market Restraints
On the other hand, the rising trailer fleet and a large volume of international trade may restrict the market's performance.
COVID-19 Impact
The global Truck Trailer Landing Gear Market has experienced several unexpected challenges during the pandemic. The significant disturbance in the supply chain networks for the market given the imposition of social distancing norms and travel restrictions across most parts worldwide. On the other hand, with all the industrial and financial activities returning to normal, the global market for truck trailer landing gears is likely to grow substantially over the coming years.
Truck Trailer Landing Gear Market Segment Analysis
Among all the types, the manual landing gear type segment is anticipated to secure the top position across the global market for truck trailer landing gears over the assessment era. The rising global road transport and logistics industries are anticipated to catalyze the segment's growth. On the other hand, the automatic landing gear segment is anticipated to show the maximum growth rate over the coming years, given the rapid expansion of the automotive industry, which is changing toward automation.
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Among all the lifting capacity categories, the above 50,000 lbs. lifting capacity trailer landing gear segment is predicted to hold the top spot across the global market for truck trailer landing gears during the assessment era. A wide range of semi-trailer types is available in the commercial vehicle segment based on load and freight. Tanker trailers are usually utilized to transport liquid and are produced using stainless steel or aluminum. The highest gross weight of a tanker trailer can be up to 80,000 lbs. as it carries petroleum or fuel, chemical, asphalt, and others. Additionally, growing trade, lowering transportation costs, and minimizing higher load capacity trailers are utilized, which is anticipated to catalyze the segment's growth over the coming years.
Among all the end-use sectors, the transportation sector is anticipated to secure the top position across the global market for truck trailer landing gears over the review era.
Truck Trailer Landing Gear Market Regional Analysis
The global Truck Trailer Landing Gear Market is analyzed across five major regions: Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
According to the research reports by MRFR, the Asia-Pacific region is anticipated to hold the top position across the global market for truck trailer landing gears over the review era. The growing vehicle production is the main parameter supporting the regional market's growth. Furthermore, the presence of major companies across the region is another crucial parameter boosting the regional market's growth. The automotive sector extremely provokes the economy in Asia-Pacific, given the growing presence of industry players across the region. OEM and aftermarket parts sales have noticed considerable growth over the past few years. Moreover, the region's significant agriculture and automotive sectors are predicted to boost the truck trailer landing gears market growth over the review era. Nations such as China and India have colossal road connectivity, truck and trailer market is expanding with growth in logistic demand, substantially boosting the regional market's growth.
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The truck trailer landing gears market for the North American region is anticipated to witness massive growth over the coming years. the growing per capita disposable income levels across the region are believed to be the significant aspect supporting the growth of the regional market. Furthermore, the existence of a large number of heavy semi-trailers across the region is anticipated to boost the growth of the regional market over the coming years. the region is known to have the presence of a well-developed road transportation network, and the trucking industry is anticipated to influence the growth of the regional market over the assessment era. The development of the industry areas across the region is anticipated to catalyze the growth in demand for semi-trailers and trailer landing gears. The high strength of the semi-trailer market in the region has encouraged manufacturers to invest more to raise the production of semi-trailers in the region, coupled with increased production of commercial vehicles are also predicted to influence the growth of the regional market over the coming years. the growing logistic need and growing industrialization across the region is also likely to catalyze the growth of the regional market over the assessment era.
The European regional market for truck trailer landing gears is anticipated to increase over the assessment era. The growing spending capacity across the region is considered the main factor is supporting the regional market's growth.
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