Europe Trailer Axle Market Size, Share, Competitive Landscape and Trend Analysis Report by Trailer Type, Axle Type, Capacity, Application, Sales Channel, and Country. By Trailer Type, . By Axle Type . By Capacity, . By Application, . By Sales Channel, . Region Opportunity Analysis and Industry Forecast, 2023-2032.

The global Europe trailer axle market size was valued at $ 1,605.2 million in 2022, and is projected to reach $ 2,831.7 million by 2032, registering a CAGR of 5.9% from 2023 to 2032.

Report Key Highlighters:

• The Europe trailer axle market study covers 14 countries. The research includes country and segment analysis of each country in terms of value ($million) for the projected period 2023-2032.
• The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions in order to achieve their most ambitious growth objectives.
• Over 3,700 product literature, annual reports, industry statements, and other comparable materials from major industry participants were reviewed to gain a better understanding of the market.
• The Europe trailer axle market share is highly fragmented, into several players including American Axle & Manufacturing, BPW Bergische Achsen KG, DexKo Global, Gigant GmBH, Hendrickson USA, L.L.C., Jost Werke AG, Meritor, Inc., SAF-HOLLAND S.A., Schmitz Cargobull, ZF Friedrichshafen AG. The companies have adopted strategies such as product launches, contracts, expansions, agreements, and others to improve their market positioning.

Axle is a central shaft utilized for rotating the wheels as well as supporting the weight of the vehicle. It is an essential component in automobiles and is categorized into three types such as front, rear, and stub. The axle is controlled by the movement of the steering in the trucks. It is utilized in cars, trucks, trailers, buses, and other vehicles too. In addition, axle types are categorized into three types, single axle, tandem axle, three or more than three-axle Spring axles use a spring to support the trailer and load. Spring axles are inexpensive and relatively easy to maintain.

The European trailer industry holds significant influence over the axle market in the region. The demand for trailers, both for commercial and personal use, directly impacts the need for axles. As the trailer axle industry in Europe continues to evolve, driven by factors such as technological advancements, regulatory changes, and a growing emphasis on sustainability, the axle market experiences corresponding shifts. Manufacturers within the trailer industry are increasingly focused on innovation, aiming to enhance axle efficiency, durability, and load-bearing capacity while meeting stringent regulatory standards. The industry's evolution towards electric and hybrid vehicles, as well as the rising trend of smart and connected trailers, further influences axle requirements. Consequently, the European trailer industry plays a pivotal role in shaping the axle market, steering it towards advancements that align with the evolving needs of the transportation sector in Europe.

The growth of the Europe trailer axle industry has propelled due to expansion of automotive & transportation industry, introduction of e-axle in trailers, and introduction of emission regulations for transport refrigeration units. However, fluctuating prices of raw materials used for manufacturing of axles and regulatory constraints are the factors restraining the growth of the market. Furthermore, increase in use of lightweight material for manufacturing of axle and rise in e-Commerce sector are the factors expected to offer growth opportunities during the forecast period.

As European partnerships increasingly engage in global markets and trade, there has been a extending need for effective and reliable transportation solutions to move goods across borderlines. Trailers are required components of the logistics and supply chain, accelerating the movement of products within and outside the region. This increased trade activity not only necessitates a larger number of trailers but also places a premium on the quality and performance of their axles. Globalization has led to a greater variety of cargo types and transportation conditions, necessitating versatile axles capable of handling diverse loads and operating environments.

Furthermore, the interconnectivity of the global supply chain demands enhanced trailer axle technology to ensure the seamless flow of goods across international boundaries. As a result, globalization and international trade have become key drivers in the expansion of the European trailer axle market, with a growing focus on innovation and adaptability to meet the demands of a globalized economy.

The trailer axle market is segmented on the basis of trailer type, axle type, capacity, application, sales channel, and country. By trailer type, it is segmented into dry van & box, refrigerator, chemical & liquid, tippers, flatbed, and others. By axle type, it is classified into single axle, tandem axle, and three or more than three-axle. By capacity, it is fragmented into lower than 8,000 lbs, 8,000-15,000 lbs, 15,000-25,000 lbs, and more than 25,000 lbs. By application, it is bifurcated into lightweight trailers, medium-weight trailers, and heavy trailers. By sales channel, it is fragmented into original equipment manufacturer (OEM), and aftermarket. By country, the report is analyzed across France, Spain, UK, Germany, Russia and Rest of Europe.

The Europe trailer axle market in UK and Germany has witnessed significant growth and is poised to offer compelling opportunities in the coming years. These countries, known for their strong economies and strong manufacturing sectors, have been at the forefront of the trailer industry's development. The demand for trailer axles in UK has been on the rise, driven by the thriving e-commerce sector and the need for efficient last-mile delivery solutions. The enhancing focus on sustainability, stricter emissions regulations, and the transition towards electric and hybrid vehicles in both the UK and Germany are expected to drive innovation in trailer axle technology.

This presents fertile ground for manufacturers and suppliers to develop eco-friendly, energy-efficient axles, that aligning with the countries' environmental goals. Additionally, the growing trend of smart and connected trailers in these markets offers opportunities for the integration of advanced axle monitoring and control systems. The geographical location of the UK and Germany as key entry points for goods into Europe further bolsters the significance of their trailer axle markets. The efficient movement of goods in and out of these countries is vital for the broader European supply chain. With these factors in mind, the Europe trailer axle market in the UK and Germany is poised for continued growth and is set to provide enticing prospects for industry players in the years ahead.

Key Developments

The leading companies are adopting strategies such as acquisition, agreement, expansion, partnership, contracts, product launches and others strategies to strengthen their market position.

• In September 2023, BPW Bergische Achsen KG launched ECO Plus 3 bearing technology and converts axles from 10 to 12 t axle load to ECO Plus 3 bearing technologies. BPW transformed its operation and maintenance of trailer axles with the invention of the ECO Plus bearing. As in Formula 1, the hub with the stepped bearing can be disassembled and assembled quickly via a central axle nut and without special tools such as pullers.
• In July 2023, Schmitz Cargobull developed an electric generator axle of the S.KOe COOL semi-trailer with e-axle secures type approval. It is the first OEM with type approval for the fully electric reefer semi-trailer S.KOe COOL with generator axle.
• In April 2021, Meritor, Inc. launched new tool on MeritorPartsXpress.com to identify the correct components for trailer axles and wheel ends. It is developed in response to customer requests for a way to better identify aftermarket components.
• In January 2020, DexKo Global through its subsidiary Dexter Axle Company acquired Silent Drive, located in Orange City, Iowa. Silent Drive has served the specialty heavy-duty suspension market offering air suspensions for liftable tags and pushers, drive axle suspensions, as well as primary and auxiliary lift axles on trailers.

Expansion of the automotive and transportation industry

In recent years, the automotive and transport industry has gone through several changes across the globe. In the automotive industry, introduction of electric vehicle owing to environmental concerns has been observed, which in turn resulted in the development of e-axle for electric vehicle as well for trailers. E-axle aids in reducing emissions, carbon footprints, and electricity generation through regenerative braking in vehicles.

Similarly, in transportation industry, dependence of e-commerce companies on logistics service providers to ensure transportation of goods through warehouse and distribution hub is increased, owing to the significant expansion of e-commerce activities. Thus, logistics companies that offers less than truckload (LTL) and full truckload (FTL) freight shipping services are increasingly adopting trailers due to their load-carrying capacity. Trailers offer the lowest cost of transportation per ton per km as compared to rigid trucks, which is further enhancing its adoption for logistics operations. Hence, the expansion of the automotive and transportation industry is driving the growth of the Europe trailer axle market.

Introduction of e-axle in trailers

Electric axles have started to make their way to medium and heavy-duty vehicles as well as in trailers. The utilization of e-axle offers reduction in maintenance cost, lower fuel consumption and lower emissions from the vehicle. An Electric axle in trailer captures the energy that is created when a trailer is rolling free along the road and use this to generate electric energy to charge an onboard lithium-ion battery.

Manufacturers across Europe are focused on electrification of vehicles owing to environmental concerns. Therefore, there is an adoption of e-axles in trailers as well. Numerous manufacturers are developing and introducing e-axle in trailers to reduce carbon footprints. For instance, in July 2023, Schmitz Cargobull become the first trailer manufacturer to officially include the electric generator axle of the S.KOe COOL semi-trailer in its overall vehicle. The S.KOe COOL fully-electric reefer semi-trailer meets all the relevant statutory safety, environmental and production requirements of the European Union.

Fluctuating prices of raw materials used for manufacturing of axles

Fluctuating prices of raw materials such as aluminum, steel, and copper can negatively impact the revenue and profit margins of axle manufacturers. The fluctuation in the price can cause fluctuation in the supply of axles, which in turn is anticipated to result in incomplete fulfillment of demand. The price of the axle is then expected to rise, resulting in less purchasing of an axle and the end-user industries would buy fewer new axles, which can reduce the demand of the axle.

In addition, the increase in the price of axles owing to fluctuating prices of raw materials forces the trailer manufacturer to increase the initial cost of the trailer, which impacts the growth of the European trailer axle market. Thus, fluctuating prices of raw materials used for manufacturing axles are a major factor that restrains the growth of the market in Europe.

Increase in use of lightweight materials for manufacturing of axle

Factors such as the need for higher fuel efficiency, weight minimization, environmental regulations and policies are forcing the automobile manufacturing companies to focus on developing new materials to make vehicles lightweight. Therefore, a 10% reduction in vehicle weight can result in 6-8% fuel economy improvement.

Hence, axle manufacturers have started to use lightweight materials such as magnesium alloys, aluminum alloys, and glass-fiber reinforced polymer for the manufacturing of axles for trailers. The axle made of lightweight material will contribute in the reduction of vehicle weight as well as the trailer’s weight, which in turn will reduce the vehicle’s fuel consumption. In addition, axles made of lightweight material will aid in reducing emissions, and carbon footprints as well as will improve the performance of the vehicle. Thus, an increase in the use of lightweight materials for the manufacturing of axles is expected to offer lucrative opportunities for the trailer axle market during the forecast period.

Covid-19 Impact Analysis

The pandemic affected the movement of goods and the overall functioning of supply chains. Commercial road transport in Europe initially suffered a decrease in truck traffic. COVID-19 caused disturbances in the supply chains of various industries, including the automotive sector. The impact on the wider automotive supply chain is considered critical. The negative effect of the pandemic caused by lockdown was that it hindered the movement of the whole transportation system including trucks, which impacted the trailer and trailer axle markets negatively in Europe. 

However, the pandemic altered consumer behavior, leading to a surge in online shopping, which, in turn, drove the need for efficient and versatile trailer axles to support the transportation of goods. This demand has opened up new opportunities for innovation within the trailer axle market. Additionally, companies have recognized the value of investing in high-quality axles to ensure their supply chains remain robust, even in times of crisis.

  Europe Trailer Axle Market Report Highlights