The global trailer axle market size was US$ 5.1 billion in 2021. The global trailer axle market is projected to grow to US$ 8.9 billion by 2030, registering a compound annual growth rate (CAGR) of 4.8% during the study period from 2022 to 2030.
The axle is a central shaft specifically used to rotate the wheels of the vehicle. It also helps support the weight of the vehicle and is claimed to be a crucial component in the automobile. A trailer axle is categorized into three, which include front, rear, and stub. Trailer axles find applications in cars, trucks, trailers, buses, and other vehicles.

COVID-19 Impact Analysis
Numerous enterprises underwent a tectonic shift due to the COVID-19 epidemic. The COVID-19 crisis constraints in end-use industries like manufacturing, electronics, textile & apparel, and construction have significantly hampered the industry growth. Further, the decline in operational activity and reduced demand from end-use industries negatively affected the trailer axle market.

Factors Influencing the Market
The steeply growing end-use sectors of trailer axles, such as automotive and transportation, are expected to drive the trailer axle market along.
Further, the growing trend of e-axle as it helps reduce emissions, carbon footprints, and electricity generation are expected to drive the market growth during the analysis period. Similar to this, the major expansion of e-commerce activities has increased the reliance of logistics service providers on e-commerce. Thus, the aforementioned factors is expected to positively influence the trailer axle market during the analysis period.
Medium and heavy load vehicles, as well as trailers, have begun to adopt electric axles. The use of an e-axle reduces the cost of maintenance, which is a significant benefit to industries. Further, it substantially declines the amount of gasoline consumed and the number of emissions produced by the vehicle. An electric axle in a trailer uses the energy released when a trailer rolls freely along a road to generate electricity and charge a lithium-ion battery aboard.
The growing trend of EVs is expected to bring opportunities for the trailer axle market. For instance, Primary connect, Woolworths Groups supply chain and logistics arm, unveiled a new e-axle trailer in March 2022 in Australia. Moreover, stringent regulations in transport refrigeration units are expected to escalate the growth graph of the overall market.

Regional Analysis
North America dominates the regional trailer axle market globally. One of the main factors influencing growth in this region is the enormous need for trailer trucks in nations like the U.S. Demand for the goods is also influenced by the automobile industry's overall dominance. Asia-Pacific is expected to increase significantly in size, which is majorly attributed to the increase in the need for trailer trucks to transport commodities in highly industrialized nations like China and India.

Competitors in the Market
American Axle & Manufacturing, Inc
BPW Bergische Achsen KG
Dana Incorporated
Hendrickson USA, L.L.C.
Meritor, Inc.
SAF-HOLLAND S.A.
Schmitz Cargobull
ZF Friedrichshafen AG
DexKo Global
Guangdong Fuwa Engineering Group Co., Ltd.
Guangzhou TND Axle Co., Ltd
Jost Werke AG
Other Prominent Players

Market Segmentation
The global trailer axle market segmentation focuses on Trailer, Axle, Capacity, Application, Sales Channel, and Region.
By Trailer Type
Dry van & box
Refrigerator
Chemicals & Liquid
Tippers
Flatbed
others
By Axle Type
Single Axle
Tandem axle
Three or more three-axle
By Capacity
Lower than 8,000 lbs
8,000-15,000 lbs
15,000-25,000 lbs
More than 25,000 lbs
By Application
Lightweight trailers
Medium-weight trailers
Heavy trailers
By Sales Channel
OEM
Aftermarket
By Regional Outlook
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America