NEW YORK, Dec. 15, 2022 /PRNewswire/ —
Light Car Trailer Market Size, Share & Trends Analysis Report By Type (Utility Light Car Trailer, Recreational Light Car Trailer), By Axle, By Product, By Design, By Region, And Segment Forecasts, 2022 – 2030
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Light Car Trailer Market Growth & Trends
The global light car trailer market size is expected to reach USD 2.12 billion by 2030, expanding at a CAGR of 3.7% from 2022 to 2030. The rapid growth of the tourism sector due to high disposable income and the rising inclination of people towards recreational activities across the world is driving the market. Additionally, light car trailer manufacturers are focusing on developing customizable and cost-effective trailers according to specific customers’ demands, in turn, driving the market. Furthermore, it provides low cost in the transportation of goods such as cargo items, perishable goods, building supplies, and loose materials, which, in turn, stimulates industry expansion.
Rising demand for recreational vehicles, which can be used for camping, site seeing, traveling, and other recreational activities, is propelling the industry growth.Light car trailer has enclosed insulated walls and ceilings, furnace and air conditioner, and additional storage space and is lightweight, agile, and cost-effective, thus they are widely preferred over other recreational vehicles in the market.
The prominent players in the market are focusing on numerous R&D initiatives for the development of cutting-edge car trailers, which are fueling the demand for light car trailers. For instance, in June 2021, Felling Trailers, Inc. added Cargo/Pole/Dump trailer to the company’s utilities-based product line. The multi-use capabilities of the PCD trailer can potentially ensure several years of reliable and trouble-free service while saving time for operators.
The North American region held a dominant share in 2021.Increasing use of light car trailers for recreational activities, rising adoption of light car trailers for transportation, and growing regional manufacturers’ investment in research of new techniques for developing light car trailers are significant factors contributing to the growth of the regional market.
In addition, increasing preferences for solo trips and recreational activities such as watersports, off-road motorbiking, and camping in countries such as the U.S. and Canada are creating demand for motorcycle, snowmobile, and watercraft trailers in the region. Light car trailers are lightweight, cost-effective, suitable for personal use, and can carry heavy loads; thus they are widely preferred over other trailers in the industry.
Light Car Trailer Market Report Highlights
• The Asia Pacific region is expected to witness considerable growth over the forecast period owing to the increased use of utility light car trailers for transporting cargo goods in countries such as China, Japan, and India
• The rising levels of disposable income and the growing interest in traveling, trekking, camping, and other recreational, leisure, and adventure activities are driving the demand for light car trailers
• Light car trailers are widely preferred for hauling snowmobiles and watercraft, which are used in recreational activities. A boost in recreational activities is expected to have a cascading effect on the market growth
• Increasing light car trailer manufacturers’ investment in developing ultra-lightweight and technologically advanced light car trailers is driving the market
• Government inclination to boost the existing tourism sector majorly in developing nations of the world has proportional effects on surging demand for light car trailers
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