The global automotive fifth wheel coupling market is projected to record a CAGR of 5.8% from 2023 to 2033. The market is valued at USD 637.1 million as of 2023, and by 2033, the market might reach a valuation of USD 1.1 billion.
Some of the Factors Driving the Growth of the Market are:
There has been a surging demand for ADAS and air release to improve the safety capabilities of vehicles. The implementation of air release technology assists in increasing the load capacity and improves the efficiency of fifth wheel coupling. This would certainly improve the productivity offered by the vehicles and is likely to increase the demand for fifth wheel coupling over the forecast period.
Moreover, the fifth wheel coupling is light in weight as well, which improves fuel efficiency. This, as well as the implementation of government policies to contain vehicular emissions, is also expected to surge the sales of fifth wheel coupling.
Governments worldwide are also investing huge amounts in improving the existing infrastructure. Consequently, a lot of investments are being made in mining, construction, automotive, and waste management.
The improving economic condition worldwide is expected to surge industrialization activities as well, which might drive market growth. Furthermore, the growing petrochemical and mining industry has led to a surge in the growth of the transportation sector, which is optimistic for the market.
Apart from that, even the waste management sector might witness growth. Surging awareness among the masses to maintain cleanliness would surge the growth of the logistics sector. This is expected to show a positive influence on the fifth wheel coupling market key trends and opportunities.
The researchers from FMI are of the view that freight vehicles are one of the most significant contributors to global warming. Moreover, tractor-trailers contribute to a significant amount of emissions and fuel consumption. This as well is expected to surge the market growth. This trend is particularly visible in Latin America. Furthermore, government policies in this region are based on reducing GHG emissions within the heavy-duty vehicle segment.
| Attributes | Value |
|---|---|
| Fifth Wheel Coupling Market Volume (2022) | USD 604.5 million |
| Fifth Wheel Coupling Market Value (2023) | USD 637.1 million |
| Fifth Wheel Coupling Market Forecast Value (2033) | USD 1.1 billion |
| Fifth Wheel Coupling Market Expected CAGR (2023 to 2033) | 5.8% |
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Despite all the benefits offered by the fifth wheel coupling system, there are a few factors which are expected to challenge the market growth. One of them is the load on the spring tension, because of which the fifth wheel coupling may not function seamlessly. Furthermore, the high cost of the trailers is also expected to hamper the market growth.
Based on the regional analysis, North America is currently the largest market for fifth wheel coupling. The presence of prominent automotive players, coupled with rapid technological advancement in the automobile sector, makes North America the largest market.
Moreover, the region has been witnessing an increase in the demand for heavy commercial vehicles, which presents a huge demand for fifth wheel coupling.
The comparison between the historical outlook and the future projections gives us an idea that the market is expected to showcase relatively robust growth. While the historical CAGR for the market was a mere 1.4%, the expected CAGR is 5.8% over the forecast period.
Short term (2023 to 2026): The use of sophisticated material technology in vehicle components increases the component's load capacity and strength. Fifth wheel couplings' improved load capacity results in increased productivity, which is projected to drive the fifth-wheel coupling market over the short-term period.
Medium-term (2026 to 2029): Strict pollution control rules implemented in most of nations would compel automakers to create fuel-efficient automobiles during this period. Automobile manufacturers are attempting to lower the weight of automobiles and their components in order to improve fuel efficiency.
Long-term (2029 to 2033): Apart from technological and safety aspects, the customers would be looking for vehicles that would be easy to drive. Because fifth wheel couplings are minimal in weight, they aid in improving vehicle longevity and performance. These characteristics are projected to boost the market for fifth wheel couplings in the coming years.
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Semi-Trailers are used to get a variety of jobs done in the construction industry, including the transportation of machinery, equipment, and raw materials. One of the most important drivers for the fifth wheel coupling market is projected to be the increasing output of the construction industry.
For instance, the Asia Pacific construction industry is predicted to be worth USD 8.3 trillion by 2031, up from USD 4.4 trillion in 2020. During the projection period, this is expected to result in significant growth in demand for trailers and, indirectly, fifth wheel couplings.
Also, increasing urbanization has resulted in new construction activities, which is likely to increase demand for semi-trailers, subsequently, semi-trailer coupling in buildings and construction projects. Over the projected period, construction and urbanization are expected to have a considerable impact on the fifth wheel coupling market.
Freight vehicles are significant contributors to climate change, pollution, and fuel consumption in the on-road transportation sector. Furthermore, tractor-trailers account for a large share of heavy-duty vehicle emissions, fuel consumption, and vehicle kilometers traveled.
To curb this, the demand for trailer truck coupling is on the rise, which will also help in the expansion of the fifth wheel coupling market.
Also, growing building and mining operations have fueled demand for heavy-duty vehicles, which will have a direct impact on fifth wheel coupling sales. Another reason that will fuel demand for new, modern trailers is government laws and the promotion of fuel-saving technology to minimize GHG emissions and fuel consumption within heavy-duty vehicle fleets. This Is expected to boost the expansion of the fifth wheel coupling market.
New regulations for trailers and trucks are increasing the demand for new trailers that meet emission-control norms. This in turn is anticipated to fuel the demand for fifth wheel couplings.
In 2018, the 40 CFR 1037.107 standard was introduced for trailer, phase-1 vocational vehicles, and tractor manufacturers in order to control CO2 emissions. Moreover, the Phase-2 CO2 standard was introduced for full-aero and partial-aero box vans.
As per ISO, the dimensional requirements for mounting and replacing a fifth wheel placed on a mounting plate or straight on the frame of a towing vehicle for semi-trailers are laid out in ISO 3842:2006. It pertains to fifth wheels that are designed to hook to semi-trailers with a:
Dimensions that aren't mentioned are subject to the component manufacturer's discretion. ISO 8717 specifies the test conditions and strength criteria for 50 and 90-fifth-wheel couplings.
Implementation of such stringent standards is expected positively influence sales of various grades of couplings such as class 7 truck couplings, class 8 truck couplings, and trailer coupling and decoupling among others.
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| Regions | North America |
|---|---|
| Countries | United States |
| CAGR (2023 to 2033) | 5.1% |
| Regions | Europe |
|---|---|
| Countries | United Kingdom |
| CAGR (2023 to 2033) | 5.1% |
| Regions | Europe |
|---|---|
| Countries | Germany |
| CAGR (2023 to 2033) | 4.4% |
| Regions | Asia Pacific |
|---|---|
| Countries | China |
| CAGR (2023 to 2033) | 6.1% |
| Regions | Asia Pacific |
|---|---|
| Countries | India |
| CAGR (2023 to 2033) | 6.9% |
China has the largest market share, accounting for roughly 26% of the global market. It is the world's largest producer of heavy commercial vehicles, accounting for more than 40% of global HCV production in 2019. This has a direct impact on fifth wheel coupling demand and sales in the country.
| Attributes | Details |
|---|---|
| China Market Expected Size (2033) | USD 307.9 million |
| China Market Absolute Dollar Growth (USD million/Billion) | USD 137.9 million |
| CAGR % 2017 to 2022 | 3.3% |
The Chinese government issued new laws in 2016 that addressed vehicle overload restrictions as well as the maximum width of trailers. Such limits increase demand for new trailers and trucks, affecting the trailer coupling industry significantly.
In 2021, the USA accounted for roughly 79% of the North American fifth wheel coupling industry. The USA is a mature automotive market with a high penetration rate for high-tech, high-cost items.
| Attributes | Details |
|---|---|
| USA Market Expected Size (2033) | USD 185.2 billion |
| USA Market Absolute Dollar Growth (USD million/billion) | USD 72.5 million |
| CAGR % 2017 to 2022 | 1.7% |
In the region, a substantial percentage of commercial vehicles are equipped with innovative fifth-wheel coupling systems, such as fifth-wheel backup camera systems. Also, the market in the USA is more willing to adopt innovative semi-trailer coupling technology due to the high sales of heavy commercial vehicles.
Germany is likely to be one of the most enticing markets for fifth-wheel couplings during the forecast period. Germany will account for more than 24% of Europe fifth wheel coupling industry by 2033, according to the research. Customers in Germany desire high-quality products, which drives producers to use cast iron and cast steel.
| Attributes | Details |
|---|---|
| Germany Market Expected Size (2033) | USD 68.3 million |
| Germany Market Absolute Dollar Growth (USD million/billion) | USD 21.5 million |
| CAGR % 2017 to 2022 | -1.1% |
Manufacturers in this country are constantly inventing lightweight items to fulfill the region's strict emissions regulations. For example, Jost Werke AG recently produced JSK-34 and JSK-36, the lightest fifth wheel couplings supplied by Jost Werke AG, with increased strength and loading capability.
India is a developing economy and the government is focused on infrastructural development. Medium and heavy commercial vehicles play a crucial role in activities like mining, construction, etc. Owing to this, the multi-axle trucks are becoming significant, which is expected to surge the demand for fifth wheel coupling in India.
| Attributes | Details |
|---|---|
| India Market Expected Size (2033) | USD 45.2 million |
| India Market Absolute Dollar Growth (USD million/billion) | USD 22.1 million |
| CAGR % 2017 to 2022 | 1.1% |
The Fifth Wheel Coupling being a safety item goes through a lot of testing and validation, which increases consumer confidence. There are two types of testing (Static & Dynamic) for qualifying the design of fifth wheel coupling as per AIS-091. The locking mechanism also needs to qualify the desired cycle. Thus, a lot of emphasis on quality and safety is also expected to surge the Indian market share.
The United Kingdom is currently witnessing a surging automobile industry. The manufacturing industry is expanding, and companies are making use of heavy vehicles to handle the logistics. Apart from that, the surging budget airline industry would also mean an increase in construction activities.
| Attributes | Details |
|---|---|
| United Kingdom Market Expected Size (2033) | USD 19.5 million |
| United Kingdom Market Absolute Dollar Growth (USD million/billion) | USD 6.8 million |
| CAGR % 2017 to 2022 | -2% |
The current war scenario has led to the crude oil supply getting affected in the United Kingdom. This would certainly force the industries to look for more options, which would lead to an increase in mining activities as well. Moreover, increased adoption of ADAS across vehicles to reduce vehicle weight is also expected to surge the market share.
| Segment | Product Type |
|---|---|
| Attributes | Compensating |
| CAGR % 2017 to 2022 | 1.4% |
| CAGR % 2023 to End of Forecast(2033) | 4.7% |
| Segment | Operation |
|---|---|
| Attributes | Mechanical |
| CAGR % 2017 to 2022 | 1.5% |
| CAGR % 2023 to End of Forecast(2033) | 5.2% |
With increased significance on vehicle safety, the players are investing heavily in the compensating segment. The ability to limit the swing distance prevents vehicle rollover, which ultimately absorbs shocks. This is motivating the stakeholders to invest in them for passenger cars.
However, the sales of semi-oscillating fifth-wheel couplings are expected to grow at a CAGR of 5.9% during the forecast period of 2023 to 2033. Semi-oscillating fifth wheel couplings are popular among end customers due to an increase in construction activities, which make use of highway tractors.
Mechanical type of operation in fifth wheel coupling is projected to hold more than 60% of the market. Mechanical couplings use traditional technology and are suitable for most vehicles, making them a very appealing area of the fifth wheel connection industry.
Apart from that, an increase in mining activities, coupled with a lot of nations focusing extensively on cleanliness drives are expected to surge the market share. The segment has witnessed a number of buyers, especially from developing nations due to a lot of infrastructural activities.
The entrants who have just hatched into the market are developing fifth wheel couplers for ending tractor-trailer rollovers. This anti-rollover technology is integrated into a pre-existing component that prevents the tractor from rolling. This is expected to save close to 10,000 lives when put into application.
Axicle is one of those new entrants which has created a massive impact by introducing a system called TARS (Trailer Anti Roll System). It consists of two independent latching mechanisms which are used to secure it to the tractors at an optimal distance. The clamping systems only release when their actuators are triggered during an unrecoverable rollover condition. The TARS fifth wheel can either fully detach or remain attached on one side.
In August 2022, the start-up raised an amount of USD 1,070,800 in a funding round which was led by Alamo Angels.
The manufacturers are set on a mission to overhaul the market with innovation. In order to do this, the companies are working on ‘camera-driven trailer coupling’. For example, JOST Werke developed an innovative system in which the camera sits above the trailer coupling to overlay its image with auxiliary lines for the driver in the form of Augmented Reality.
Some of the Recent Developments in the Fifth Wheel Coupling Market are:
| Company Name | JOST Werke AG |
|---|---|
| Description | JOST has been the leading global manufacturer and supplier of safety-related components for commercial vehicles. As far as transport and agriculture are concerned, JOST focuses on vehicle interface, handling solutions, and maneuvering. The international reputation of JOST is underpinned by strong brands, maintaining long-term customer relationships, and efficient business models. With a presence across 20 countries, JOST has direct access to all major manufacturers of commercial vehicles. The company employs more than 3,200 people worldwide. |
| Company Name | SAF Holland |
|---|---|
| Description | SAF Holland is the leading manufacturer of chassis-related systems and components. The company primarily deals with trailers, semi-trailers, trucks, and buses. Being a development supplier, the company is valued by OEMs and fleet operators. The company also holds the reputation of being amongst the top three suppliers worldwide. SAF Holland has been laying a lot of emphasis on product innovation. In the aftermarket business, the company provides spare parts to OES, wholesalers, and service centers. |
| Company Name | Fontaine Fifth Wheel |
|---|---|
| Description | The company was founded in 1940. To overcome the shortage of cast fifth wheels during World War II, the company invented the ‘pressed’ steel the fifth wheel in 1942. This along with the No-Slack® lock set the foundation stone for the company. Fontaine Fifth Wheel offers Fontaine No-Slack®, which is the only self-adjusting fifth wheel lock. This device eliminates the need for fifth wheel slack, thereby providing greater durability, improved locking performance, and low cost. |
Other Companies Profiled:
The global market holds a valuation of USD 637.1 million as of 2023.
The fifth wheel coupling market is expected to grow at 5.8% CAGR from 2023 to 2033.
The global fifth wheel coupling market is forecasted to surpass USD 1.1 billion by 2033.
North America is the largest fifth wheel coupling market.
The main drivers are: surging construction activities, and demand for heavy commercial vehicles.
1. Executive Summary | Fifth Wheel Coupling Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Compensating 5.2. Semi Oscillating 5.3. Fully Oscillating 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Operation 6.1. Hydraulic 6.2. Pneumatic 6.3. Mechanical 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Capacity 7.1. Below 20 tons 7.2. Between 20 to 30 tons 7.3. Between 30 to 45 tons 7.4. Above 45 tons 8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Material Type 8.1. Cast Steel 8.2. Cast Iron 8.3. Fabricated Steel 8.4. Aluminum 8.5. Others 9. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Sales Channel 9.1. OEM 9.2. Aftermarket 10. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. East Asia 10.5. South Asia & Pacific 10.6. Middle East & Africa 11. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 15. South Asia & Pacific Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East & Africa Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. SAF Holland 19.2. JOST Werke AG 19.3. Guangdong Fuwa Engineering Group Co., Ltd. 19.4. Sohshin Co. Ltd. 19.5. Zhenjiang Baohua Semi-Trailer Parts Co. Ltd 19.6. Fontaine Fifth Wheel 19.7. Tulga Fifth Wheel Co. 19.8. RSB Group 19.9. Hunger Hydraulics Group 19.10. ACCL (PL Haulwel Trailers) 19.11. TITGEMEYER Group 19.12. FOSHAN YONGLITAI AXLE CO., LTD. 19.13. Xiamen Wondee Auto parts Co., Ltd. 19.14. Shandong Fuhua Axle Co., Ltd. 19.15. Land Transport Equipment Co. Ltd 19.16. CM Trailer Equipment Ltd 19.17. Horizon Global Corp 20. Assumptions & Acronyms Used 21. Research Methodology
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Fifth Wheel Coupling Market
