Global Light Car Trailer Market Size, Share & Industry Trends Analysis Report By Type (Utility and Recreational), By Axle (Single Axle and Multi Axle), By Design (Open and Enclosed), By Product, By Regional Outlook and Forecast, 2022 - 2028
Special Offering: Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
Get in-depth analysis of the COVID-19 impact on the Light Car Trailer Market
Market Report Description
The Global Light Car Trailer Market size is expected to reach $1.9 billion by 2028, rising at a market growth of 4.0% CAGR during the forecast period.
A trailer is an unpowered vehicle being towed by a powerful vehicle. The light car trailers connected at the back of a car or a truck are the ones that are used to transport lightweight vehicles. They are moved in the light car trailer to transport automobiles from one place to another or in conditions where the terrain is unsuitable for the car to drive. They are used mainly by wanderers or sports enthusiasts for recreational purposes.
Motorcycles, snowmobiles, passenger vehicles, or watercraft vehicles transport different cars. They are usually towed behind a truck or an automobile. Some trailers are built for individual use or small businesses and can be towed by any powered vehicle with a proper hitch. In contrast, some trailers are permanently joined to large trucks called semi-trailer trucks used to transport cargo.
For example, a regular van or pickup truck requiring a standard driver’s license and no special permit can be used to carry motorcycles and closed toy trailers. A special trailer like a bicycle trailer or an open-air motorcycle trailer is smaller and easy to tow by smaller automobiles. These trailer rides on a single axle and contains a drawbar. Other trailers, like travel or campers and utility trailers, come with single and multiple axles to support various sizes of tow vehicles.
There are various types of specialty trailers, for instance, pusher trailers, Genset trailers, and many other types, which are used to power the towing automobile. Others are specially manufactured to hold a full kitchen, and other equipment sellers used in a carnival. Finally, some trailers are used predominantly for hauling boats.
COVID-19 Impact Analysis
COVID-19 has impacted numerous businesses, especially the manufacturing sector, in the most negative way in every nation. The automotive industry was also widely affected due to production stoppage and supply chain disturbance. The light car trailer market also saw the same effects because of the decreasing automobile demand and the traveling restriction the government implemented. However, as the lockdown and restrictions were slowly lifted and with the relief funds presented by the government of various countries, many industries started to get back on track and recover from the pandemic. Irrespective of the aluminum price fluctuations and the supply chain's slow recovery rate, there were vital signs of recovery for the light car trailer market.
Market Growth Factors
Ever-increasing tourism industry
With the increase in people's urge to travel and extra income, the tourism business's rapid rise can be seen. A trailer is spacious regardless of size, as every inch can be used. The benefit of a light car trailer is its extra carriage capacity, giving people more room to add their necessity for comfortable traveling. As more and more people are turning towards by-road traveling to explore and wander, most cost-effectively and comfortably, while still having a sense of home with them all the time, the demand for a light car trailer market is expected to propel.
Economic goods transportation
The market expansion is because a light car trailer allows users to transport loads and goods like consumer items, building materials, loose materials, and freight items. Also, the rising automobile sales and an increasing urge to get luxury while traveling will boost the market. The key players are focusing on the trailers' research and development to meet the consumers' comprehensive requirements. The rapid expansion of agriculture, electronics, textiles & apparel, and manufacturing will also increase the supply chain services meaning more involvement of the light car trailers.
Market Restraining Factors
Narrow vision and problems in breaking
Before driving, one should keep in mind the length, height, and breadth of the trailer they are towing, and increasing the size of the overall vehicle will restrict the driver’s vision. Visibility plays an essential role in basic driving, for instance, changing lanes, backing with a load attached to the back, or making turns. Some manufacturers may provide towing mirrors, but they are prone to fall off at high speed or get damaged in toe-to-toe traffic. Moving, parking or backing becomes more stressful when the driver is traveling alone because then there is no one to aid them by providing guidance.
Based on the Type, the Light Car Trailer Market is segmented into Utility and Recreational. The recreational segment witnessed a significant revenue share in the light car trailer market in 2021. Due to the rising levels of additional income and the increasing interest in traveling in the urban population. Recreational trailers provide a considerable base while reducing the trailer's total weight due to its aluminum body.
On the basis of Axle, the Light Car Trailer Market is divided into Single Axle Trailer and Multi Axle. The multi axle segment recorded a substantial revenue share in the light car trailer market in 2021. Because of the high load capacity and improved support, a multi-axle trailer can raise the application range for the user. They have more space which allows users to carry more quantity. Multi-axle trailers can carry more weight.
Based on the Design, the Light Car Trailer Market is bifurcated into Enclosed and Open. The enclosed segment recorded a prominent revenue share in the light car trailer market in 2021. Due to their ability to safely and secure cargo transportation, there is increasing usage of the enclosed light car trailer.
By Product, the Light Car Trailer Market is classified into OEM, Motorcycle, Snowmobile, Watercraft, and Passenger. The motorcycle segment garnered the highest revenue share in the light car trailer market in 2021. The rising demand for motorbikes will indirectly propel the demand for motorcycle light car trailers. Usually, the motorcycle trailer is of two types, closed and open. These trailers can be narrow to carry only a single vehicle or wide enough for two bikes to be placed side by side.
|Market size value in 2021||USD 1.4 Billion|
|Market size forecast in 2028||USD 1.9 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 4% from 2022 to 2028|
|Number of Pages||208|
|Number of Tables||430|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Type, Axle, Design, Product, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region-wise, the Light Car Trailer Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region procured the highest revenue share in the light car trailer market in 2021. Because of the increasing sales in the automobile sector, rising preference for solo traveling, and the growing number of tourist spots in the North American region. As a result, key players like ATC Trailers Holdings, Aluma Ltd, Haulmark industries, and felling trailers are focusing on advancing trailers.
Free Valuable Insights: Global Light Car Trailer Market size to reach USD 1.9 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ATC Trailers Holdings, Inc., Felling Trailers, Inc., SylvanSport, LLC, Aluma, Ltd., Haulmark Industries, Inc. (American Cargo Group), Kaufman Trailers, Inc., Look Trailers (Novae Corporation), Woodford Trailers Ltd., Sundowner Trailer, Inc. and Diamond C Trailer
Scope of the Study
Market Segments Covered in the Report:
- Single Axle
- Multi Axle
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- ATC Trailers Holdings, Inc.
- Felling Trailers, Inc.
- SylvanSport, LLC
- Aluma, Ltd.
- Haulmark Industries, Inc. (American Cargo Group)
- Kaufman Trailers, Inc.
- Look Trailers (Novae Corporation)
- Woodford Trailers Ltd.
- Sundowner Trailer, Inc.
- Diamond C Trailer
Unique Offerings from KBV Research
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
What would be the size of the Light Car Trailer Market by 2028?
The global Light Car Trailer Market size is expected to reach $1.9 billion by 2028.
What are the key driving factors and challenges in the Light Car Trailer Market?
Ever-increasing tourism industry are driving the market in coming years, however, Narrow vision and problems in breaking restraints the growth of the market.
What are the major top companies in the competitive landscape?
ATC Trailers Holdings, Inc., Felling Trailers, Inc., SylvanSport, LLC, Aluma, Ltd., Haulmark Industries, Inc. (American Cargo Group), Kaufman Trailers, Inc., Look Trailers (Novae Corporation), Woodford Trailers Ltd., Sundowner Trailer, Inc. and Diamond C Trailer
Which segment shows a high revenue share of the Light Car Trailer Market in 2021?
The Open market is generating high revenue in the Global Light Car Trailer Market by Design in 2021; thereby, achieving a market value of $1.1 billion by 2028.
Which segment is leading the market in 2021?
The Utility market is leading the segment in the Global Light Car Trailer Market by Type in 2021; thereby, achieving a market value of $1.2 billion by 2028.
Which region dominated the Light Car Trailer Market in 2021?
The North America market dominated the Global Light Car Trailer Market by Region in 2021; thereby, achieving a market value of $642.8 million by 2028.