The COVID-19 pandemic has caused supply and manufacturing disruptions in the Healthcare creating uncertainties in every aspect. The change in customer behavior in terms of mobility preferences during this crisis is changing the Healthcare landscape.
This pandemic situation has shut down many production lines owing to the trade restrictions and closed borders, creating a shortage in required parts and limiting the distribution of supplies. Different enforced measures including the closing of workspaces and dismissal of short-time workers have created a depression in the growth rate of the Healthcare Industry.
The growing fear of recession is estimated to decrease overall sales and revenue. A limited supply of parts coupled with a reduced workforce has forced the leading OEMs to shut down their production. A significant drop in demand has restricted the cash inflow which is highly important in payment of salaries to the workforce. With growing uncertainties around the COVID-19 pandemic, the industry leaders are taking measures to adapt to the situation.
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Persistence Market Research presents a new report titled ‘Fifth Wheel Coupling Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 – 2025’ that studies the performance of the global fifth wheel coupling market over an eight year assessment period from 2017 to 2025. The report presents the value and volume forecasts of the global fifth wheel coupling market and provides important insights into the factors driving market growth as well as the factors restricting market growth. As per the assessment of Persistence Market Research, the global fifth wheel coupling market was estimated to be valued at nearly US$ 460 Mn in 2017 and is anticipated to touch a valuation of nearly US$ 700 Mn in 2025 and in the process exhibit a CAGR of 5.4% during the period of forecast 2017-2025.
Advanced Material Technology Positively Impacting the Global Fifth Wheel Coupling Market
The adoption of advanced material technology in automobile components increases the load capacity as well as strength of the component. The increased load capacity of fifth wheel couplings results in increasing productivity, which in turn is expected to fuel the growth of the fifth wheel coupling market in the coming years. Moreover, stringent emission standards in countries, such as Germany, the U.K. and Italy, are compelling automotive manufacturers to make fuel efficient vehicles. To achieve fuel economy, auto makers are trying to reduce the weight of vehicles and their components, which will support the demand for light weight automotive fifth wheel couplings. These advanced material fifth wheel couplings are relatively light weight and hence, improve the durability and performance of vehicles. These features are expected to propel the growth of the fifth wheel coupling in the market in the coming years.
Global Fifth Wheel Coupling Market: Segmentation and Forecast
The global fifth wheel coupling market is segmented on the basis of product type, operation, capacity, sales channel and region.
- By product type, the semi oscillating segment was estimated to be valued at nearly US$ 294 Mn in 2017 and is anticipated to reach a valuation of nearly US$ 445 Mn in 2025, displaying a CAGR of 5.3% during the period of assessment 2017-2025.
- By operation, the mechanical segment is expected to reach a valuation of nearly US$ 460 Mn in 2025, exhibiting a CAGR of 4.7% during the period of forecast.
- By capacity, the below 20 tons segment was estimated to be valued at nearly US$ 75 Mn in 2017 and is likely to reach a valuation of nearly US$ 110 Mn in 2025.
- By sales channel, the OEM segment is anticipated to exhibit a CAGR of 5.3% during the period of forecast.
- By region, the Asia Pacific fifth wheel coupling market was estimated to be valued at nearly US$ 181 Mn in 2017 and is anticipated to reach a valuation of US$ 310 Mn in 2025.
- SAF-Holland S.A
- JOST Werke AG
- Guangdong Fuwa Engineering Group Co., Ltd.
- Sohshin Co. Ltd.
- Zhenjiang Baohua Semi-Trailer Parts Co. Ltd
- Fontaine Fifth Wheel
- Tulga Fifth Wheel Co.
- RSB Group
- Hunger Hydraulics Group
- ACCL (PL Haulwel Trailers )
- TITGEMEYER Group
- FOSHAN YONGLITAI AXLE CO.,LTD.
- Xiamen Wondee Autoparts Co., Ltd.
- Shandong Fuhua Axle Co., Ltd.
- Land Transport Equipment Co.,Ltd
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