Innovations and Advancements Fuelling the Fifth Wheel Coupling Market, Expected to Reach US$ 1.12 Billion by 2033

Sep 23, 2023

New York, June 08, 2023 (GLOBE NEWSWIRE) -- In 2018, the fifth wheel coupling market was valued at US$ 588.3 million worldwide. From 2018 to 2022, the market grew at a 5.2% CAGR , reaching a value of US$ 637.1 million in 2023. The global market is anticipated to grow at a CAGR of 5.8% from 2023 to 2033, reaching US$ 1.12 billion by the end of 2033.

The growth of the market is driven by the increasing demand for semi-trailers in the transportation industry. Semi-trailers are used to transport a variety of goods, including food, beverages, and building materials. The increasing demand for these goods is driving the demand for semi-trailers, and the increasing use of fifth wheel couplings is driving the demand for fifth wheel couplings.

A fifth wheel coupling is a type of hitch that is used to connect a semi-trailer to a tractor. The fifth wheel coupling is located on the back of the tractor, and it has a kingpin that fits into a socket on the front of the semi-trailer. This connection allows the semi-trailer to be towed behind the tractor.

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Market Analysis:

The market analysis delves into the various product types available in the fifth wheel coupling market, highlighting their features and applications. Semi-automatic fifth wheel couplings provide a balance between user control and automation, while fully automatic couplings offer seamless operation. Articulated fifth wheel couplings enhance maneuverability, while stationary couplings provide stability for specific applications. Sliding fifth wheel couplings allow for adjustable weight distribution, while other specialized variations cater to unique requirements.

Key points from research reports of Global Fifth Wheel Coupling Market

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Market Players

The major players in the global fifth wheel coupling market are: SAF-Holland S.A., JOST Werke AG, Guangdong Fuwa Engineering Group Co., Ltd, Sohshin Co. Ltd, Fontaine Fifth Wheel, Tulga Fifth Wheel Co., RSB Group, Hunger Hydraulics Group, ACCL (PL Haulwel Trialers), TITGEMEYER Group, FOSHAN YONGLITAI AXLE CO., LTD, Xiamen Wondee Autoparts Co., Ltd, Land Transport Equipment and more

Recent Developments

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Market Segmentations

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