The global trailer suspension system market is estimated at over $4 million in 2024 and projected to grow with a 5.1% compound annual growth rate (CAGR) through 2034, according to a study from Fact.MR.
The market is projected to reach $6 million by 2034 due to the rising need for efficient freight and logistics services, driven by e-commerce growth and global trade. The study said that this need will propel the demand for trailers with advanced suspension systems.
“Ongoing infrastructure projects, such as road expansions and construction, increase the need for trailers equipped with durable suspension systems capable of withstanding diverse road conditions,” an announcement from Fact.MR stated.
Continuous innovation in suspension technology, particularly with air suspension systems, enhances ride quality, improves load stability, and reduces wear and tear, attracting customers seeking higher performance and comfort, the study stated. Stringent safety regulations mandating better load stability, improved braking systems and overall vehicle safety drive the adoption of advanced suspension systems meeting these standards.
The emphasis on fuel efficiency and reduced emissions prompts the development of lightweight yet robust suspension systems. These systems not only enhance vehicle performance but also contribute to fuel savings, making them an attractive choice for fleet operators looking to optimize their operational costs, according to the study.
The market sees a rising need for trailers capable of sustaining heavy loads, Fact.MR stated, with demand driven by various industries, including logistics, construction and agriculture.
For more information on this study, click here.
