Technological advancement in automobile trailer is projected to present the light car trailers industry with attractive development potential.

NEWARK, UNITED STATES, April 25, 2022 /EINPresswire.com/ -- The global light car trailers market is expected to grow from USD 1.54 billion in 2021 to USD 2.04 billion by 2030, at a CAGR of 3.2% during the forecast period 2022-2030. Rapid increase in tourism business, low-cost transportation of goods and commodities such as freight items, consumer items, building materials, and loose materials stimulates the market expansion. Furthermore, increased personal automobile sales and a rising desire for luxury when traveling are likely to boost market expansion.

The utility light car trailers dominated the market with a market share of 53.3% in 2021 and market value of around 1 billion.

The type segment is divided into recreational light car trailers and utility light car trailers. In 2021, utility light car trailers dominated the market with a market share of 53.3% and market revenue of around 1 Billion. Utility light car trailers are used to transport lightweight vehicles behind a car or truck. These light car trailers are used to transfer automobiles from one location to another, mainly when the path terrain is unfavorable for driving. Utility light car trailers are convenient to unload and load and are available in multiple types, which is likely to continue to increase for utility trailers throughout the globe.

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The open light car trailers accounted for the largest share of the market in 2021.

The design segment is divided into enclosed light car trailers and open light car trailers. In 2021, open light car trailers accounted for the largest share of the market with 55%. Open trailers are simple to operate, allowing for tight bends and more accessible parking, are lightweight, saving on fuel expenses, and provide greater flexibility, all of which are expected to increase the use of open light vehicle trailers across the world.

Regional Segmentation Analysis:

The market is analyzed based on five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America region emerged as the largest market for the global light car trailers market with a 34.3% of the market share in 2021. This is attributed to the growth in people's buying power parity, greater engagement of prominent automotive firms in creating light car trailers, attractive technological resources, and change in utility vehicle saturation in the region. The expansion of the tourist industry in North America is expected to push the region's light car trailers market. All of these factors are expected to increase the demand for light vehicle trailers in the area.

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Competitive Analysis:

The major players of market include Aluma, Ltd., Doepker Industries, ATC Trailers, Felling Trailers, Fruehauf, East Manufacturing Company, Fontaine Trailer Company, Great Dane, Pace American, WOODFORD TRAILERS LTD, Heil Trailer International, FUTURA TRAILERS USA, Haulmark, Kaufman Trailers, SylvanSport, LLC among others.

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