From GlobeNewswire: 2024-05-30 17:00:00

The Global Fifth Wheel Coupling Market is projected to grow from USD 634.8 million in 2023 to USD 1108.4 million by 2033, with a CAGR of 5.73%. Fifth wheel couplings are essential for heavy-duty tasks like long-distance hauling and commercial freight transport, offering improved maneuverability in tight spaces. The market is driven by advanced material technology in automobile components, increasing demand for innovative coupling systems, and industrial growth in developing countries.

The sliding segment is expected to witness the fastest growth in the global fifth wheel coupling market, allowing for greater flexibility in weight distribution between the tractor and trailer. Compensating coupling is projected to hold the largest market share, providing a fixed connection point for tractor-trailer combinations and ensuring safe and reliable connections. Asia Pacific is anticipated to lead the market due to industrialization, urbanization, and infrastructure development.

North America is forecasted to grow rapidly in the global fifth wheel coupling market, driven by a strong commercial vehicle sector and advanced manufacturing capabilities. Major vendors in the market include SAF- HOLLAND SE, Fontaine Fifth Wheel, and others. In November 2023, Fontaine Fifth Wheel introduced the first smart fifth wheel, ‘SmartConnect’, enhancing safety and maintenance monitoring for fleets. This study forecasts the market revenue globally, regionally, and by country from 2020 to 2033 based on mounting type, coupling type, material, operation, load carrying capacity, application, and sales channel.



Read more at GlobeNewswire: Global Fifth Wheel Coupling Market Size To Worth USD 1108.4