According to the report from 2023 to 2033, the automotive fifth wheel coupling market is anticipated to grow at a 5.8% CAGR. As of 2023, the market is valued at US$ 637.1 Mn and by 2033, it may be worth US$ 1.1 Bn.
Growing focus on enhancing safety features and utilising tough materials for fifth wheel coupling is expected to escalate the rate of adoption in the global market. The players operating in the market have been channelizing efforts towards strengthening their distribution channels while also focussing on direct sales.
Meanwhile, implementation of new and advanced technologies to enhance product quality and compliance with government policies and regulations to meet emission standards may improve sales output in the global market. The companies operating in the market are strategically focussing on mergers and acquisitions to retain their position.
For instance, in September 2016, SAF-Holland S.A acquired a 57.5% share in KLL, a manufacturer of trailers, trucks and buses. This is estimated to boost the market value share of the company in the global market.
The other leading companies operating in the global fifth wheel coupling market are JOST Werke AG, Guangdong Fuwa Engineering Group Co., Ltd., Sohshin Co. Ltd., Zhenjiang Baohua Semi-Trailer Parts Co. Ltd., Fontaine Fifth Wheel, and Tulga Fifth Wheel Co., among others.
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Market Taxonomy
By Product Type
- Compensating
- Semioscillating
- Fully Oscillating
By Operation
- Hydraulic
- Pneumatic
- Mechanical
By Capacity
- Below 20 Tons
- Between 20 – 30 Tons
- Between 30 – 45 Tons
- Above 45 Tons
By Material Type
- Cast Steel
- Cast Iron
- Fabricated Steel
- Aluminum
- Others (Pressed Steel, Stamped steel, etc.)
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By Sales Channel
- OEM
- Aftermarket
By Region
- North America
- Latin America
- Western
- Europe
- Eastern Europe
- China
- SEA and Other APAC
- Japan
- MEA
Use of Lightweight Material in Manufacturing to Increase Adoption of Fifth Wheel Coupling
The acceptance of advanced material technology in the manufacturing of automobile components escalates the load capacity as well as the strength of the component. The augmented load capacity of fifth wheel couplings leads to a rise in the productivity, which in turn is likely to bolster the growth of the fifth wheel coupling market over the years ahead. Furthermore, stern emission standards in countries such as Italy, the U.K., the U.S., and Germany are persuading automotive manufacturers to manufacture fuel efficient vehicles.
For achieving a fuel efficient economy, auto makers are trying to reduce the weight of vehicles and their components, which is expected to support the demand for lightweight automotive fifth wheel couplings in the coming years. These advanced material fifth wheel couplings are comparatively light in weight and are known to increase the durability and performance of vehicles. These characteristics are expected to bolster the growth of the fifth wheel coupling market during the course of the forecast period.
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Growing Penetration of Forged Products to Hinder Market Growth in Developing Automotive Markets
The automotive fifth wheel coupling market has been pugnacious against sham products and the supply of components over grey market trading. The counterfeit products are dearth of quality standards and are a threat for the safety of both the passengers and the vehicle. This factor is likely to pose a grave challenge for the fifth wheel coupling market in the coming years. Moreover, this may cause a severe monetary slowdown of companies operating in the fifth wheel coupling market by upsetting their aftermarket sales. Any reduction in aftermarket sales is likely to adversely impact revenue growth of the fifth wheel coupling market.
