Rapid increase in tourism business, low-cost transportation of goods and commodities such as freight items, consumer items, building materials, and loose materials stimulates the light car trailers market expansion.
Pune, April 07, 2022 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, the global light car trailers market is expected to grow from USD 1.54 billion in 2021 to USD 2.04 billion by 2030, at a CAGR of 3.2% during the forecast period 2022-2030.
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A trailer is a non-powered vehicle towed by a motorized vehicle. It is vividly utilized in the transportation of products and commodities. Trailers are travel trailers, recreational vehicles, or mobile houses with minimal living facilities wherein persons can camp or stay. Previously, many of these vehicles were travel trailers. Light car trailers are used to transport lightweight automobiles behind a vehicle or truck. Light car trailers are used to transfer automobiles from one location to another, mainly when the route topography is unfavorable for transportation. Light vehicle trailers are widely utilized for leisure reasons and are popular among fitness enthusiasts and vacationers. Motorbike, watercraft, snowmobile, and passenger vehicle trailers are used to transport motorcycles, watercraft, snowmobiles, and passenger vehicles, respectively. These may be towed behind a car or truck.
The increased choice of people to spend their vacations at a campground or on a hill boosts the need for small automobile trailers. The increased carriage capacity provided by a light car trailer is advantageous. Light vehicle trailers offer an additional benefit and might operate as a driving force in the whole industry. The transformation and development of global mobility are primarily due to the rise of the industrial and automotive sectors, which in turn stimulates the need for light vehicle trailers, which are widely used through logistics operations to transfer goods and materials from one location to another. These factors are expected to drive the light car trailers market during the forecast period. However, the operating costs associated with light vehicle trailers restrict their popularity among the middle and upper-income classes.
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Key players operating in the global light car trailers market are Aluma, Ltd., Doepker Industries, ATC Trailers, Felling Trailers, Fruehauf, East Manufacturing Company, Fontaine Trailer Company, Great Dane, Pace American, WOODFORD TRAILERS LTD, Heil Trailer International, FUTURA TRAILERS USA, Haulmark, Kaufman Trailers, SylvanSport, LLC among others. To enhance their market position in the global light car trailers market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• On June 18, 2019, ATC Trailers released new ATC Sprinter Series trailers for the sprint racing game. This trailer allows competitors to tailor their setup from the entry steps up, and it comes in a variety of sizes for matting and carpets.
• For example, Phillips Industries introduced a high-output and ultra-compact LED system for dry and chilled van trailers in October 2019. However, recreational light car trailers are predicted to increase at the fastest rate throughout the projection period.
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The utility light car trailers segment led the market in 2021 with a market share of around 53.3%.
The type segment is divided into recreational light car trailers and utility light car trailers. The utility light car trailers segment led the market in 2021 with a market share of around 53.3%. This is due to the advent of improvements in utility light automobile trailers. Utility light automobile trailers are ideal for transporting massive objects that would be too large for most other vehicles. Trailers can bear the weight for business or enjoyment, whether one needs them to haul landscaping equipment, motorbikes, or ATVs.
The open light car trailers accounted for the largest share of the market, with a 55% market share in 2021.
The design segment is divided into enclosed light car trailers and open light car trailers. In 2021, open light car trailers will account for the largest share of the market with a 55% market share. This is due to the increased usage of open light car trailers, which are lower in size than enclosed trailers and hence simpler to manage with the tow vehicle.
Regional Segment Analysis of the Light Car Trailers Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe)
• Asia-Pacific (China, Japan, India, and the Rest of Asia Pacific)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, and the Rest of the Middle East and Africa)
Among all regions, the North American region emerged as the largest market for the global light car trailers market, with a market share of around 34.3% in 2021. The increase in the number of tourist destinations, as well as a preference for solo excursions, are expected to drive the industry forward at a steady rate in the foreseeable future. Increased discretionary money due to an increase in the number of wealthy individuals allows more and more people to purchase expensive products for themselves, such as a personal trailer. North America has a significant presence of industrialized countries that are home to specialized research and development centers for light car trailers, which is anticipated to increase the region’s use of light car trailers. This is due to the presence of a healthy automobile sector that readily accepts technologies such as external trailers.
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About the report:
The global light car trailers market is analyzed based on value (USD Billion). All the segments have been analyzed globally, regional and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.