Light Car Trailer Market: Current Analysis and Forecast (2022-2028)
Emphasis on Type (Utility Light Car Trailer and Recreational Light Car Trailer); Axle (Single Axle Light Car Trailer and Multi Axle Light Car Trailer); Design (Enclosed Trailer and Open Trailer); Product (Motorcycle Light Car Trailer, Snowmobile Light Car Trailer, Watercraft Light Car Trailer and Passenger Light Car Trailer); and Region/Country
Global Light Car Trailer Market is expected to grow at a significant rate of around 3.36% during the forecast period. A few of the major factors contributing to the market growth is the growth of the tourism sector due to high disposable income and the rising inclination of people towards recreational activities across the world. Further, light car trailer manufacturers are focusing on developing customizable and cost-effective trailers according to specific customers’ demands, in turn, driving the market. Furthermore, it provides low cost in the transportation of goods such as cargo items, perishable goods, building supplies, and loose materials, which, in turn, stimulates industry expansion.
Aluma, ATC Trailers, Felling Trailers, Haulmark, Kaufman Trailers, PaceAmerican.com, Woodford Trailers Ltd, SylvanSport, LLC, Sundowner Trailer Corporation and Diamond C Trailer Mfg are some of the key players in the light car trailer market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, recreational light car trailer segment is anticipated to witness higher CAGR during the forecast period”
Based on type, the market is segmented into Utility Light Car Trailer and Recreational Light Car Trailer. Recreational light car trailer segment is expected to expand at a significant CAGR of over 4% during the forecast period. Recreational trailers offer a larger floor space while reducing the overall trailer weight because of an aluminum body. Besides, manufacturers are adding aesthetic features, such as LED lighting, loading lights on the ramp, and lights on the entry door as part of their efforts to enhance safety. The improved design and advanced features guarantee a more luxurious experience, hence fueling the growth of the segment.
“Amongst axle, the Single axle light car trailers segment to hold a significant share in the market in 2020”
Based on axle, the market is divided into Single axle light car trailers and Multi-axle light car trailers. In 2020, the Single axle light car trailers held the largest share of over 50.0%. This is due to their lesser weight than multi-axle thus making it easier to maneuver and more economical. Additionally, single-axle light car trailers are very cost-effective, have lower ownership and maintenance costs, and require less fuel; thus, these features increase single-axle lightweight car trailers’ preference over others.
“Amongst design, the enclosed trailer segment is anticipated to expand at a significant CAGR during the forecast period”
Based on design, the light car trailer market is segmented into Enclosed Trailer and Open Trailer. The enclosed trailer segment is anticipated to expand at a CAGR of around 3.9% over the forecast period. Increasing application of enclosed light car trailers for the safe and secure transportation of cargo from sunlight and inclement weather conditions is majorly contributing to the growth of the enclosed segment. Additionally, the lock-up feature of an enclosed cargo trailer offers improved security during transport, which is further fueling the growth of the enclosed light car trailers market.
“Amongst product, the motorcycle light car trailers segment is anticipated to hold largest share during the forecast period”
Based on product, motorcycle light car trailers held the largest share of over 20.0% in 2020 owing to a rise in demand for motorbikes, which is indirectly increasing the demand for motorcycle light car trailers. The motorcycle trailer is of two kinds: open and closed. The enclosed trailer provides a more secure way of locking up, keeping it out of sight while protecting it from all kinds of weather
“North America to hold a significant share in the light car trailer market”
North America held the largest revenue share of over 35.0% in 2020 owing to the increase in automobile sales, growing tourist spots, and rising preference for solo travel throughout the North American region. Furthermore, prominent players such as Aluma Ltd.; ATC Trailers Holdings, Inc.; Felling Trailers, Inc.; and Haulmark Industries are focused on developing advanced trailers. For instance, the manufacturers are incorporating tie-down pockets on the sides of the trailers for better cargo security. The trailers are also designed to have a high load-bearing capacity, more expansive decks, and removable fenders. These car trailer advancements are expected to create new growth opportunities for the market in this region. All these factors are anticipated to enhance the demand for Light Car Trailers in the automotive sector, thus, contributing to the growth of the light car trailer market. Further, a few of the leading market players operating in North America are Aluma Ltd., Felling Trailers, Inc., Kaufman Trailers, Inc., etc.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional and country-level analysis of the industry.
Customization Options:
The global light car trailer market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Light Car Trailer Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global light car trailer market were the three major steps undertaken to create and analyze the adoption of the light car trailer in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global light car trailer market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the light car trailer market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the light car trailer market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, axle, design and product. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the light car trailer market. Further, we conducted factor analysis using dependent and independent variables such as type, axle, design and product of light car trailer. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the light car trailer market across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global light car trailer market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the light car trailer across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global light car trailer market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global light car trailer market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the type, axle, design and product in the global light car trailer market.
The main objective of the Global Light Car Trailer Market Study
The current & future market trends of the global light car trailer market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the light car trailer market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the type, axle, design, and product.
- Define and analysis of the regulatory framework for the light car trailer industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the light car trailer market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the light car trailer market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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