Lucrative Scenarios Linger over Automotive Fifth Wheel Coupling Market with Growing Consumer Preference, says Fact.MR Study
August 5, 2019 by Steve Blade
The increased focus on the safety of goods transported in trailers, increased demand for reducing damage of goods transported, and the vast rise in regional transport of goods in the past few years has necessitated the development of advanced fifth wheel coupling systems. The trend is expected to remain strong in the near future as well, driving the demand for more advanced fifth wheel coupling units for vehicles in the next few years. The vast rise in demand for heavy commercial vehicles in regions such as Asia Pacific and Europe, chiefly owing to the thriving industrial sectors and rise in construction activities in emerging economies in Asia Pacific, is also expected to bide well for the global Automotive Fifth Wheel Coupling Market in the near future.
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Automotive fifth wheel coupling refers to a vehicle connecting component used for connecting a tractor unit with the semi-trailer, towing truck, and the dolly or the leading trailer in vehicles that are expected to possess high load carrying capacities. This sort of coupling provides towing constancy to the vehicle and is often found in recreational trailers as well. The global market for automotive fifth wheel coupling is expected to expand at a promising pace in the next few years.
The analytical research report by FactMR delivers key intelligence on global automotive fifth wheel coupling market, highlighting all-inclusive forecast on the growth of the global market during the assessment period (2018-2027). The report further incorporates drivers, restraints, trends and opportunities impacting growth of the global market. The report offers holistic analysis and insights on key factors impacting growth of the global automotive fifth wheel coupling market.
Key companies involved in the production of automotive fifth wheel couplings have been profiled in this report. Analysis of company’s product portfolio, key financials and strategies to gain competitive advantages have been incorporated in this report. Key market participants such as Sohshin Co., Ltd., RSB, and JOST as well as their innovations and developments have been included in this report.
An ultimate function of the fifth wheel coupling is to act as a coupling device between towing vehicles and trailers in heavy commercial vehicles. To increase fuel efficiency and improve operation of heavy commercial vehicles, manufacturers have been installed fifth wheel coupler in the vehicles.
Automotive fifth wheel couplings are witnessing significant demand due to implementation of advanced technologies to improve product quality and compliance with government regulations and policies to meet emission standards. Adoption of improved material technology in the manufacturing of automotive components increases load capacity and strength of components. The augmented load capacity of fifth wheel coupling results in increasing productivity, which is likely to bolster growth of global automotive fifth wheel coupling market. Additionally, automotive fifth wheel coupling are comparatively light in weight and are ideal to improve durability and performance of vehicle. To achieve fuel economy, manufacturers are expected to adopt fifth wheel couplings.
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JOST India has developed LubeTronic 5Points for fifth gear couplings without top plate liners. The company has integrated remote lubricating system in fifth wheel couplings. With the integration of this lubricating system, lubrication intervals can be customized for use in on-site traffic and long distance traffic. This system provides sufficient lubrication for 1 year and comes with electronic fill level control with an LED display. The lubrication system keeps quantity of grease constant, providing consistent lubrication for the fifth wheel coupling plate and the lockjaw. This system is also suitable for hazardous-cargo vehicles.
However, several safety issue related to fifth wheel couplings have restrained growth of the global fifth wheel safety market. The most common issue with fifth wheel couplings is dropping the trailer. People often forget to latch the coupling pin after hooking the trailer to the truck. This results in slipping of trailer from the fifth wheel and fall into the bed of the towing vehicle. To overcome this safety issue, JOSH India has come up with a special feature – double locking system. The construction of the released handle in the fifth wheel couplings allows primary locking against spring tension. In addition to this there is spring actuated latch that holds it in a place after locking. This is likely to further bolster the growth of global automotive fifth wheel couplings market.
According to Recreation Vehicle Industry Association, RV shipments has been witnessing significant growth since the industry has bounced back from the effects of great recession. RV industry is witnessing high y-o-y growth from past 6 years and is likely to continue its expansion. This is likely to positively influence the growth of automotive fifth wheel coupling market. As fifth wheel couplings can haul heavy loads that tradition hitch setup, demand for fifth wheel couplings is high from recreation vehicle industry.
Due to boom in e-commerce industry, need for heavy commercial vehicles are witnessing high demand as transportation of goods has been increased. Increasing disposable income and ease of purchasing goods at one swipe is likely to fuel growth of ecommerce industry, which will ultimately increase sales of heavy commercial vehicles, resulting in growth of global fifth wheel coupling market.
Overall, the research study on global automotive fifth wheel couplings market delivers in-depth analysis on the key factors that are likely to influence the growth of the global market over the assessment period (2018-2027). Readers can expect complete analysis and insights on the strategies adopted by key companies in this market. The insights included in the report will help stakeholders in gaining perspective on the presumptive expansion of global automotive fifth wheel couplings market.
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