Truck and Trailer Landing Gear Market

Truck and Trailer Landing Gear Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

Global Truck and Trailer Landing Gear Market - Introduction

Truck and trailer landing gear is the metallic support provided with the semi-trailers that maintain the level of trailer parallel to the ground when the tractor is detached. Truck and trailer landing gears are mounted only on trailers, which comprise only rear axles.
These are capable of lifting the weight of the trailer; however in some cases, landing gear is known to break down
Market for truck and trailer landing gear is anticipated to expand at a notable pace during the forecast period due to expansion of the trucking industry. Moreover, trucks that comprise detachable trailers are considered more efficient in terms of fuel-efficiency and load carrying capacity, which are integrated with landing gears, and hence, drive the market for truck and trailer landing gear.

Global Truck and Trailer Landing Gear Market – Drivers

Transition and evolution witnessed by the transportation industry, globally, is primarily due to the expansion of manufacturing and agriculture industries, which in turn fuel the demand for trailer trucks that are extensively utilized by fleet management in order to transport goods and material from one place to another. These factors are primarily projected to fuel the truck and trailer landing gear market during the forecast period.
High volume of international trade has been witnessed between countries such as China, the U.S., the European Union, Japan, South Korea, India, Saudi Arabia, and ASEAN, which in turn is anticipated to drive the market for truck and trailer landing gear
Development of light weight and high strength landing gears by key manufacturers is likely to propel the market for truck and trailer landing gears during the forecast period
Countries in Asia Pacific continue their transition toward greater economic integration, where expansion of manufacturing, agriculture, electronics, and textile & apparel industries is a prime factor attributed to rapid economic development. Moreover, transportation of products and goods by means of roadways plays an integral role. Additionally, this mode of transport is cost-effective for door-to-door service, owing to improved road infrastructure. This is anticipated to propel the demand for semi-trailer truck, thereby boost the truck and trailer landing gear market during the forecast period.
Online shopping in majority of countries across the globe is witnessing significant expansion, owing to an increase in access to high speed internet, which has led to rising preference toward e-trailing among consumers. Furthermore, demand for road transportation is significantly high in order to fulfill shipment, which in turn is anticipated to propel the truck and trailer landing gear market during the forecast period.

Global Truck and Trailer Landing Gear Market – Restraints

Market for truck and trailer landing gear is highly dependent on production of semi-trailers that are significantly large and heavy, which increases the turning radius and weight of the truck. This, in turn, hinders maneuverability. Additionally, greater skills are required to drive and maneuver a semi-trailer truck. This is likely to hamper the demand for truck and trailer landing gear.
Improper road infrastructure coupled with a lack of intent to improve transport facilities is expected to restrain the demand for road freight transportation, thereby hamper the truck and trailer landing gear market during the forecast period

North America to hold prominent share of global market during forecast period

Presence of a large number of heavy semi-trailers in North America is anticipated to drive the truck and trailer landing gear market in the region
North America is a major market for truck and trailer landing gear and is a highly stable market, owing to the presence of well-developed road transportation network and trucking industry in the region. Expansion of industries in the region is likely to boost the demand for semi-trailers and trailer landing gears in the region. High stability of the semi-trailer market in the region has prompted manufacturers to invest more to increase the production of semi-trailers in the region. High production of commercial vehicles in the region is also a key factor driving the truck and trailer landing gear market in North America.

Global Truck and Trailer Landing Gear Market – Competitive Landscape

The global truck and trailer landing gear market is moderately fragmented and majority of key players are located in the U.S., China, and Germany. Some leading players operating in the market are: