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Fifth Wheel Coupling Market

Fifth Wheel Coupling Market By Product Type (Compensating, Semi Oscillating, Fully Oscillating), Operation (Hydraulic, Pneumatic, Mechanical), Vehicle Type (Below 20 Tons, 20 to 30 Tones, 30 to 45 Tones, Above 45 Tones), Material Type (Cast Steel, Cast Iron, Fabricated Steel, Aluminum) and Region for 2021-2031

Fifth Wheel Coupling Market By Product Type (Compensating, Semi Oscillating, Fully Oscillating), Operation (Hydraulic, Pneumatic, Mechanical), Vehicle Type (Below 20 Tons, 20 to 30 Tones, 30 to 45 Tones, Above 45 Tones), Material Type (Cast Steel, Cast Iron, Fabricated Steel, Aluminum) and Region for 2021-2031

Fifth Wheel Coupling Market - Analysis, Outlook, Growth, Trends, Forecasts

Fifth Wheel Coupling Market Snapshot

[375 Pages Report] Sales in the fifth wheel coupling market stands to grow at 5.7% CAGR between 2021 and 2031 in terms of value. Volume demand is estimated to grow at a CAGR of 5.3% over the forecast period. As per Future Market Insights (FMI), the fifth wheel coupling market represents 4% of the semi-trailer market.

Semi oscillating fifth wheel coupling is the top-selling product in the market, accounting for more than 56% of the total revenue. This is due to its ability to adjust according to the bumps and sharp turns encountered while traveling.

Attribute

Details

Fifth Wheel Coupling Market Value in 2021

US$ 547.7 Mn

Fifth Wheel Coupling Market Estimated Value (2031)

US$ 1.0 Bn

Value Based CAGR (2021-2031)

5.7%

Fifth Wheel Coupling Market Outlook 2021-2031 Compared to Growth Registered in 2016-2020

Fifth wheel coupling sales grew at 0.3% CAGR historically from 2016 to 2020, with China, US, and Germany accounting for the significant share of the total market. Though, fifth wheel coupling demand was steady from 2016 to 2019, but it declined in the first two quarter of 2020 owing to the impact of COVID-19 across the globe.

The demand however grew since the first quarter of 2021 and the trend is expected to continue through the course of the forecast period. The use of sophisticated material technology in vehicle components increases the component's load capacity and strength.

Fifth wheel couplings' improved load capacity results in increased productivity, which is projected to drive the fifth wheel coupling market over the assessment period.

Strict pollution control rules implemented in nations such as Germany, the UK, and Italy are compelling automakers to create fuel-efficient automobiles. Automobile manufacturers are attempting to lower the weight of automobiles and their components in order to improve fuel efficiency, which will fuel the demand for light weight automotive semi-trailer couplings.

Because fifth wheel couplings are minimal in weight, they aid in improving vehicle longevity and performance. These characteristics are projected to boost the market for fifth wheel couplings in the coming years.

How will Demand for Semi-Trailer Coupling Affect Fifth Wheel Coupling Market Growth?

Semi-Trailers are used to get a variety of jobs done in the construction industry, including transportation of machinery, equipment, and raw materials. One of the most important drivers for the fifth wheel coupling market is projected to be the increasing output of the construction industry.

For instance, the Asia Pacific construction industry is predicted to be worth US$ 8.3 trillion by 2031, up from US$ 4.4 trillion in 2020. During the projection period, this is expected to result in significant growth in demand for trailers and, indirectly, fifth wheel couplings.

Also, increasing urbanization has resulted in new construction activities, which is likely to increase demand for semi-trailers, subsequently semi-trailer coupling in buildings and construction projects. Over the projected period, construction and urbanization are expected to have a considerable impact on the fifth wheel coupling market.

Freight vehicles are a significant contributors to climate change, pollution, and fuel consumption in the on-road transportation sector. Furthermore, tractor-trailers account for a large share of heavy-duty vehicle emissions, fuel consumption, and vehicle kilometers travelled.

To curb this, the demand for trailer truck coupling is on the rise, which will also help in the expansion of the fifth wheel coupling market.

Also, growing building and mining operations have fueled demand for heavy-duty vehicles, which will have a direct impact on fifth wheel coupling sales. Another reason that will fuel demand for new, modern trailers is government laws and promotion of fuel-saving technology to minimize GHG emissions and fuel consumption within heavy-duty vehicle fleet. This Is expected to boost the expansion of the fifth wheel coupling market.

What is the Regulatory Impact on Global Sales of Fifth Wheel Coupling?

New regulations for trailers and trucks are increasing the demand for new trailers that meet emission-control norms. This in turn is anticipated to fuel the demand for fifth wheel couplings.

In 2018, the 40 CFR 1037.107 standard was introduced for trailer, phase-1 vocational vehicle and tractor manufacturers in order to control CO2 emissions. Moreover, the Phase-2 CO2 standard was introduced for full-aero and partial-aero box vans.

As per ISO, the dimensional requirements for mounting and replacing of a fifth wheel placed on a mounting plate or straight on the frame of a towing vehicle for semi-trailers are laid out in ISO 3842:2006. It pertains to fifth wheels that are designed to hook to semi-trailers with a:

  • ISO 337 defines 50 coupling pins;
  • ISO 4086 defines 90 coupling pins.

Dimensions that aren't mentioned are subject to the component manufacturer's discretion. ISO 8717 specifies the test conditions and strength criteria for 50 and 90 fifth wheel couplings.

Implementation of such stringent standards is expected positively influence sales of various grades of couplings such as class 7 truck couplings, class 8 truck couplings, and trailer coupling and decoupling among others.

What is the Impact of COVID-19 Crisis on Fifth Wheel Coupling Market?

COVID-19 has had three primary effects on the global economy: directly influencing manufacturing and demand, disrupting the supply chain and market, and financial impact on businesses across various industries.

The pandemic has impacted the trailer coupling market, exposing the automobile sector to short-term supply and demand difficulties. COVID-19 has had an influence on most countries' globalization and interconnected economic activities.

As a result, more concerning challenges are expected for high-cost producers, smallholders, and high-debt firms in the near and medium term.

Country-wise Insights

What Is the China Fifth Wheel Coupling Market Outlook?

China has the largest market share, accounting for roughly 26% of the global market. Between 2021 and 2031, China will be the largest market for fifth wheel couplings, with an absolute dollar opportunity of more than US$ 119.4 Mn.

It is the world's largest producer of heavy commercial vehicles, accounting for more than 40% of global HCV production in 2019. This has a direct impact on fifth wheel coupling demand and sales in the country.

The Chinese government issued new laws in 2016 that addressed vehicle overload restrictions as well as the maximum width of trailers. Such limits increase demand for new trailers and trucks, affecting the trailer coupling industry significantly.

Where Does the U.S. Fifth Wheel Coupling Market Stands Globally?

In 2021, the U.S. accounted for roughly 79% of the North America fifth wheel coupling industry. U.S. is a mature automotive market with a high penetration rate for high-tech, high-cost items.

In the region, a substantial percentage of commercial vehicles are equipped with innovative fifth-wheel coupling systems, such as fifth-wheel backup camera systems. Also, the market in U.S. is more willing to adopt innovative semi-trailer coupling technology due to high sales of heavy commercial vehicles.

Why is Germany Fifth Wheel Coupling Market Considered Lucrative?

Germany is likely to be one of the most enticing markets for fifth wheel couplings during the forecast period. Germany will account for more than 24% of the Europe fifth wheel coupling industry by 2031, according to the research.

Customers in Germany desire high-quality products, which drives producers to use cast iron and cast steel. Manufacturers in this country are constantly inventing light-weight items to fulfil the region's strict emissions regulations.

For example, Jost Werke AG recently produced JSK-34 and JSK-36, the lightest fifth wheel couplings supplied by Jost Werke AG, with increased strength and loading capability.

Category-wise Insights

Why are Sales of Semi Oscillating Fifth Wheel Couplings Increasing?

The sales of semi oscillating fifth wheel couplings are expected to grow at a CAGR of 5.9% during the forecast period of 2021 to 2031. Semi oscillating fifth wheel refers to the fifth wheel's side-to-side tilting movement as the connection between the tractor and trailer is adjusted while negotiating road bumps and curves.

Semi oscillating fifth wheel coupling can move around on an axis that is perpendicular to the vehicle's centerline. The tractor and semi-trailer could oscillate in pitch and roll directions using this fifth wheel. The fifth wheel is equipped with a torsion spring and dampers to keep it from rolling. Semi-oscillating fifth wheel couplings are popular among end customers due to these additional benefits.

Which Type of Operation Is Preferred in the Market?

Mechanical type of operation in fifth wheel coupling is projected to hold more than 60% of the market. Mechanical couplings use traditional technology and are suitable for most vehicles, making them a very appealing area of the fifth wheel connection industry.

Which Material Type is More Preferred?

Cast steel has been projected to gain absolute dollar opportunity of more than US$ 150 Mn during the period of 2021 to 2031. The design flexibility of cast steel is its key feature.

Designers of casting have the greatest creative freedom. Complex forms and hollow cross-section pieces are also possible. Cast steel offers the most production flexibility and variety of any metallurgy. The trailer truck coupling industry will be boosted as result of this.

Competitive Landscape

Fifth-wheel coupling manufacturers are aiming to increase revenue from their present product range while lowering costs across the board. Furthermore, they are constantly focusing on cash flow and investing in new product development in order to accomplish growth and generate revenue from their investments. In addition, companies are expanding their global network of foreign business sites in order to increase coordination between businesses and stakeholders.

  • In April 2021, for the commercial market, Fontaine has introduced the 170SF Heavy Duty 2-inch Sliding Fifth Wheel
  • In January 2021, EAST TO WEST, which is a division of Forest River, Inc., at the Annual Forest River Product Expo, unveiled the new AHARA luxury fifth wheel

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value and Units for Volume

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa

Key Countries Covered

US, Canada, Brazil, Mexico, Germany, U.K., France, Italy, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, Australia & New Zealand, GCC Countries, Turkey, and South Africa

Key Segments Covered

Product Type, Operation, Capacity, Material Type, Sales Channel, and Region

Key Companies Profiled

  • SAF Holland
  • JOST Werke AG
  • Guangdong Fuwa Engineering Group Co., Ltd.
  • Sohshin Co. Ltd.
  • Zhenjiang Baohua Semi-Trailer Parts Co. Ltd
  • Fontaine Fifth Wheel
  • Tulga Fifth Wheel Co.
  • RSB Group
  • Hunger Hydraulics Group
  • ACCL (PL Haulwel Trailers)
  • TITGEMEYER Group
  • FOSHAN YONGLITAI AXLE CO., LTD.
  • Xiamen Wondee Auto parts Co., Ltd.
  • Shandong Fuhua Axle Co., Ltd.
  • Land Transport Equipment Co. Ltd
  • CM Trailer Equipment Ltd
  • Horizon Global Corp

Report Coverage

Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives

Customization & Pricing

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Key Market Segments Covered

Product Type:

  • Compensating
  • Semi Oscillating
  • Fully Oscillating

Operation:

  • Hydraulic
  • Pneumatic
  • Mechanical

Capacity:

  • Below 20 tons
  • Between 20 to 30 tons
  • Between 30 to 45 tons
  • Above 45 tons

Material Type:

  • Cast Steel
  • Cast Iron
  • Fabricated Steel
  • Aluminum
  • Others

Sales Channel:

  • OEM
  • Aftermarket

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa

Key Questions Answered in the Report

How big is the fifth wheel coupling market?

The fifth wheel coupling market was valued at US$ 574.7 Mn in 2021.
Demand for fifth wheel coupling is expected to grow by 5.7% CAGR in terms of value. By 2031, the market value will surpass US$ 1.0 Bn.
Increasing integration of electronics in fifth wheel coupling is leading towards development of novel product solutions. Coupled with this, focus on product innovation and development is a key trend shaping the market.
Adoption of lightweight yet high strength material and strong demand for heavy-duty trailers will aid growth of fifth wheel coupling market. Increasing demand for new trailers and trucks as governments impose stringent emission control norms also will drive sales in the market.
Jost Werke AG, SAF Holland, Guangdong Fuwa Engineering Group Co., Ltd., Fontaine Fifth Wheel, and Zhenjiang Baohua Semi-Trailer Parts Co. Ltd are top producers in the market, accounting for nearly 82.3% of sales.
China, the U.S., Germany, Canada, and Brazil are the top 5 countries driving fifth wheel coupling demand.
Demand in North America is expected to grow by 5.6% CAGR between 2021 and 2031.
Germany is the leading fifth wheel couple market in Europe. Demand in Germany is expected to grow by 4% CAGR through 2031.
Japan and South Korea together accounted for nearly 4.2% of sales in the global market in 2021.

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