The worldwide market for fifth wheel coupling will account for a market estimation of close on US$ 700 Million towards the end of 2025, up from a projected estimation of approximately US$ 460 Million towards 2017 end and over the line account for a 5.4% CAGR for the duration of the assessment. Because of the developing petrochemical and mining sector, particularly in the Middle East and Africa Europe, the requirement for transportation is anticipated to get a boost. This will augment the requirement of fifth wheel coupling devices for cost-efficient materials, giving increased productivity and safety.
Rising waste management sector is likewise foreseen to encounter a continuous ascent and this would decidedly affect the fifth wheel coupling market. Rising awareness amid the buyers with respect to environmental protection is anticipated to fuel the development of waste management sector that thus, boost the development of the logistic sector and by implication influences the development of the market for fifth wheel coupling. Abilities, for example, higher load conveying limit would moreover drive the requirement in the market.
Based on the product type, the overall market is categorized as the fully oscillating fifth wheel, semi-oscillating and compensating. The semi oscillating product type is likely to touch a figure of about US$ 445 Million by 2025 end, up from an evaluation of approx US$ 294 Million by 2017 end, reflecting a 5.3% CAGR all through the calculated period. In terms of the operation, the worldwide market is categorized as mechanical, pneumatic and hydraulic. The mechanical operation is projected to touch an evaluation of about US$ 460 Million by 2025 end, reflecting a 4.7% CAGR all through the calculated period.
On the basis of the capacity, the overall market is segmented as above 45 tons, between 30 to 45 tons, between 20 to 30 tons and below 20 tons. The below 20 tons segment is likely to touch a figure of about US$ 110 Million by 2025 end, up from a valuation of approx US$ 75 Million through the end of 2017. Based on the sales channel, the worldwide market includes aftermarket and original equipment manufacturer (OEM). The OEM sales channel is projected to reflect a 5.3% CAGR all through the calculated period of 2017-2025.
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In terms of the region, the Asia Pacific market for fifth wheel coupling is projected to touch a figure of about US$ 310 Million by the end of the year 2025, up from a valuation of approx US$ 181 Million by 2017 end.
The major companies operating in the worldwide market for fifth wheel coupling include Guangdong Fuwa Engineering Group Co., Ltd., JOST Werke AG, SAF-Holland S.A, Fontaine Fifth Wheel, Zhenjiang Baohua Semi-Trailer Parts Co. Ltd, Sohshin Co. Ltd., Hunger Hydraulics Group, RSB Group, Tulga Fifth Wheel Co., FOSHAN YONGLITAI AXLE CO.,LTD., Xiamen Wondee Autoparts Co., Ltd., TITGEMEYER Group, Shandong Fuhua Axle Co., Ltd., ACCL (PL Haulwel Trailers ), Land Transport Equipment Co., Ltd and others.