The global trailer axle market is projected to grow from $8.42 billion in 2024 to $13.95 billion by 2034, expanding at a CAGR of 5.2%. This growth is driven by the increasing demand for lightweight and durable trailer components, advancements in axle design, and the rising popularity of electric and hybrid trailers. Key players in the market include Dexter Axle Company, Meritor Inc., and BPW Bergische Achsen KG.
Utility Trailer Manufacturing Company has introduced the Trident® brake drum, which reduces weight by 24 pounds per wheel end, totaling 96 pounds for a dual-axle trailer. This innovation allows fleets to maximize payloads and lower costs without compromising performance. The Trident® drum has been made standard on all Utility flatbed models since 2020, and its adoption is expanding to reefer and dry van models.
