According to the report, the global is projected to reach US$ 1.76 Bn by 2031, expanding at a CAGR of 2.74% during the forecast period. Car trailers have been one of the most popular products for the last few years. Most companies provide trailers that can suit most vehicles; be it a show car or race car, a 4-wheel drive (4WD) vehicle or anything equally large that needed to be moved, for personal or business needs. The most standard car trailer is limited to a gross trailer mass (ATM) of 2,000 kilograms, but can go as high as 2,800 or 3,200 kilograms without cutting into the trailer width.
The benefits of a light car trailer is the extra carriage capacity that it offers. Light car trailers provide an added advantage such as extra carriage capacity of the trailers, which can act as a key factor that boosts the market. A light car trailer increases the carrying capacity regardless of its size, as every inch of space from floor to ceiling can be utilized.
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Expansion of Light Car Trailers Market
Increasing and expanding trade agreements among nations is anticipated to offer new opportunities to the light car trailers market in the near future. Additionally, heavy investment by emerging economies in improving their road transport infrastructure coupled with the expansion of transport routes and increasing volumes of transport goods is another key factor that is estimated to drive the light car trailers market across the globe.
Improvement of road network transport and inclination toward development of industries over the years have led to significant adoption of road transportation. This is projected to propel the light car trailers market during the forecast period.
In terms of type, the global light car trailers market has been bifurcated into utility light car trailers and recreational light car trailers. The utility light car trailers segment is expected to hold a dominant share of the global market. This can be attributed to the emergence of innovations related to the utility light car trailers. For instance, in October 2020, ATC Trailers launched an ultra-compact, high-output LED system for dry and refrigerated van trailers. However, the recreational light car trailers segment is expected to expand at a significant growth rate during the forecast period.
In terms of axle type, the multi axle light car trailers segment dominated the global light car trailers market, in terms of value, in 2020. Single axle car trailers have limitations such as a single axle would be harder on the tires, as they carry more weight per tire than dual axle trailers. This is likely to increase the demand for multi axle light car trailers. Furthermore, it increases the growth of the multi axle light car trailer segment during the forecast period.
The high maintenance cost of light car trailers is a key factor hindering the market. On an average, the productive life of a new trailer is about 15 years, if maintained appropriately. However, light car trailers are fitted with an air ride suspension, which costs more than conventional trailers. The maintenance cost increases when the suspension is utilized for three years and after. Thus, such high cost hamper the global light car trailers market.
Regional Analysis of Light Car Trailers Market
Based on region, the global light car trailers market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is estimated to dominate the global light car trailers market due to a rise in purchasing power parity of people, increased participation of the leading automotive companies in developing the light car trailers, favorable technological infrastructure, and an increase in penetration of utility vehicles in the region. Rise in demand for utility light car trailers among suppliers across the region to offer a wide range of payload to their customers is likely to fuel the demand for utility light car trailers across the region. Expansion of the tourism industry in North America is projected to propel the light car trailers market in the region. All these factors are anticipated to boost the demand for light car trailers in the region.
Light Car Trailers Market Players
Prominent players operating in the global light car trailers include Aluma Ltd., ATC Trailers, Doepker Industries Limited, East Manufacturing Corporation, Fontaine Commercial Trailer, Inc., Fruehauf Ltd., Futura Trailers, Great Dane, Haulmark Trailers, and Felling Trailers.
Global Light Car Trailers Market: Segmentation
- Light Car Trailers Market, by TypeUtility Light Car Trailers
- Recreational Light Car Trailers
- Light Car Trailers Market, by DesignOpen Light Car Trailers
- Enclosed Light Car Trailers
- Light Car Trailers Market, by Axle TypeSingle Axle Light Car Trailers
- Multi Axle Light Car Trailers
- Light Car Trailers Market, by Product TypeMotorcycle Light Car Trailers
- Snowmobile Light Car Trailers
- Watercraft Light Car Trailers
- Passenger Vehicle Light Car Trailers
- Light Car Trailers Market, by RegionNorth America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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