Los Angeles, Nov 21, 2018 ( Issuewire.com ) & - & New report published by QY Research which offers insights on the global Truck Landing Gear market. The Truck Landing Gear market has been experiencing steady growth graph since past years. During the 2018-2023 timeline, the global market for Truck Landing Gear is expected to reflect an obvious increase in revenue growth. In 2017 the global Truck Landing Gear market was valued at over US$180 Mn and by the end of the assessment year (2023), it is estimated to touch a value more than US$230 Mn growing at a value CAGR of nearly 4% throughout the period of forecast.
Global Truck Landing Gear Market: Market Driver
Stringent government regulations regarding carbon emission and growing demand for installation of truck landing gears in existing trailers are the two factors that will propel the demand for new trailers and trucks, which in turn, is expected to give a push to the global truck landing gear market during the forecast period. Moreover, rising adoption of lightweight truck landing gears, as well as robust demand for oil and milk tankers for the transportation of oil from one place to another place, are the other factors projected to foster the growth of the global truck landing gear market throughout the forecast period.
In addition, rising transportation in e-commerce and increasing fleet of trailers will also ramp up the global truck landing gear market during the forecast period.
Global Truck Landing Gear Market : Forecast by Type
The global Truck Landing Gear market has been comprehensively covered on the basis of the taxonomy i.e. by product type. This segment includes Less than 20,000 lbs, 20,000 lbs to 50,000 lbs and More than 50,000 lbs.
In the global truck landing gear market, leading manufacturers are offering various types of truck landing gears, with lifting capacity ranging from 20,000 lbs to 50,000 lbs. However, there exist some manufacturers who are manufacturing truck landing gears with less than 20,000 lbs lifting capacity type also.
20,000 Lbs to 50,000 Lbs segment is projected to dominate throughout the forecast period. In terms of growth, more than 50,000 lbs segment is expected to grow with a considerable growth rate over the slated time period owing to rising installation of truck landing gears in heavy duty trailers.
Global Truck Landing Gear Market: Forecast by Application
Application segment consists of Manual and Automatic. Currently, the manual segment is projected to dominate in the global truck landing gear market. However, during the next five years, the automatic segment is expected to grow at a significant growth rate owing to rising automation in the trailer component market.
Giving the escalating adoption rate of automatic type truck landing gears and rising automation in trailer components, leading truck landing gear manufacturers, such as JOST Werke AG, are investing millions of dollar for the development and manufacturing of automatic truck landing gears.
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Global Truck Landing Gear Market: Forecast by Region
North America, South America, Europe, APAC and MEA are the five regions that are included in this report. Each region has its own dedicated section, regional Truck Landing Gear market analysis helps key stakeholders decide which region they wish to focus upon in the global Truck Landing Gear market.
Global Truck Landing Gear Market: Key Players
JOST Werke AG, SAF-HOLLAND S.A., Guangdong Fuwa Engineering Group Co., Ltd., Butler Products Corp., BPW Bergische Achsen KG, York Transport Equipment (Asia) Pte Ltd., AXN Heavy Duty, LLC, H. D. Trailers Pvt. Ltd., Sinotruck Howo Sales Co., Ltd., Zhenjiang Baohua Semi-Trailer Parts Co., Ltd., haacon hebetechnik gmbh, and Yangzhou Tongyi Machinery Co., Ltd. are the key vendors included in this report.
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