According to a report by FMI, the global market for Automotive trailer drawbars is projected to increase significantly at a CAGR of 9.3 percent from 2022 to 2032, reaching US$ 259.1 million in 2022.
In 2032, the market for vehicle trailer drawbars is expected to be worth US$ 561.4 million.
A mechanical part known as an automotive trailer drawbar serves as a coupling to join a vehicle and its load-bearing trailer. For the most effective towing of the goods, the placement of the axle and the load are essential, and the automobile trailer drawbar helps the trailer drive smoothly and steadily. The automotive trailer drawbar is widely used in the fields of transportation, logistics, business, and agriculture.
Recent times have seen a rise in the need for effective logistics and transportation strategies due to rising trade volume and a large global corporate population. The need for automotive trailer drawbars is anticipated to rise along with the use of transportation and logistics. OEM players are concerned about shipping costs and speedy deployment to cut down on production lead times in the manufacturing segment. Manufacturers need an effective transportation option to shorten lead times, which increases demand for commercial vehicles globally. The use of commercial vehicles is predicted to increase, creating a need for automotive trailer drawbars.
Key Players:
- ALOIS KOBER GMBH
- Nooteboom Trailers
- Distag QCS (UK) Ltd
- BPW Bergische Achsen
- The Cartwright Group
- Premier Manufacturing Company
- Red Rock Manufacturing
