The landing gear for the truck trailer refers to retractable supports that retain the height of the trailer while the tractor is removed. To support the trailer after it is decoupled from the prime mover, a pair of landing legs are mounted at the front end. Landing gear, also known as stabilizers, should have the sufficient ability to lift the loaded trailer, if necessary, with a gear system. The increasing demand for logistics creates a need for trucks and trailers, which has had a positive effect on the truck landing gear market’s growth. Furthermore, the growing trailer fleet and the high volume of foreign trade are also fueling the development of the truck landing gear market.
The global truck trailer landing gear market is anticipated to register a CAGR of 4% during the forecast period, 2020 to 2026.
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Globally, the transport sector’s transition and evolution can be attributed to the growth of the industrial and agricultural sectors, which in turn fuel demand for trailer trucks that are commonly used by fleet operators to transport goods and material from one location to another. During the forecasted period, these trends are primarily expected to drive the growth of the truck and trailer landing gear market.
Based on region, the truck trailer landing gear market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is projected to dominate the truck trailer landing gear market in the coming years, which can be attributed to the increasing vehicle production and the presence of prominent players operating in this region. Furthermore, the increasing per capita disposable income levels and the growing spending capacity contribute to the North American and European markets’ growth.