Published Date: 30-Nov-2022
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According to a new report, published by KBV research, 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.
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. Because of the improvements in the utility light trailer, if the terrain is unfavorable for a particular vehicle, they are used to transport it from one end to another. Utility trailer comes in different sizes and ensures easy load and unloading. This is because of the advancements in utility light vehicle trailers.
The Single Axle is exhibiting CAGR of 3.2 % during the forecast period. Because they are lighter than their counterparts and also smoother to maneuver while being economical, a single axle is comprised of only one axle, which has a wheel attached to both ends. Then this is connected to the trailer with springs or clamps.
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. Due to their ability to be lightweight, allowing faster turns, easy parking, and providing great flexibility while being fuel efficient. All these features are responsible for making them good options across nations.
The Snowmobile market is registering a CAGR of 4.2% during (2022 - 2028). Due to the increasing popularity in the regions with high snowfall like Europe, North America, and Nordic regions. Open and closed are two types of variations in snowmobile trailers. Open trailers are easier to load and unload and require only a little towing effort, whereas with enclosed trailers, users can be more assured of the safety of the load.
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. The Europe market is poised to grow at a CAGR of 3.3% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 4.8% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 .
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