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Trailer canopy is altogether a new innovation in itself, which is growing rapidly in recent times. This trailer canopy is an automotive component that can be attached to any vehicle for extra space purposes. The different types of models and specifications are based on customer preferences. They serve a purpose, from basic shading to a complete warehouse or storage with compartments and shelves. These trailer canopies give a living experience to the customers, which is gaining a lot of popularity in the market. Nowadays, the manufacturers are investing highly on R&D to develop new advancements in the trailer canopies owing to increased customer interests; a custom made demands, and trend of on the go living experience. Furthermore, these trailer canopies consume less fuel and a lighter in weight. These factors are also leading to the growth of this market.
Key Market Driver -
Rising adoption of lightweight trailers, trend of mobility homes, custom made canopies are expected to drive the market over the forecast period.
Key Market Restraint -
High maintenance cost of the advanced trailers and space consuming is anticipated to affect the growth of the market.
Some of the major companies that are present in the trailer canopy market include, Williams Trailers, Bull Motor Bodies Pvt Ltd., Blackburn Trailers Limited, Dunn & Watson Pty Ltd.,
The trailer canopy market is segmented into type, material type, vehicle type, and geography. By type, the market is further segmented into foldable and non-foldable canopies. Non-foldable trailer canopies hold the largest market share owing to major usage for commercial purposes and high storage capacity. Foldable trailer canopies are also gaining a good share in the market as people are more inclined towards the advanced technology, road tripping, high standard lifestyle. By material type, aluminum metal canopies are widely used other than other materials as they are more robust in rough climatic conditions, are light in weight and are highly durable. By end-use type, the market is further segmented into personal and commercial use. The trailer canopy has a broad base in commercial use. These canopies are used by defense, for storage, food trucks, medical purposes, and commercial purposes. Nowadays, people are buying trailer canopies for personal use. Road trips, on wheel living culture, mobility homes, etc. are gaining good market share in the trailer canopy. By market type, the aftermarket is expected to dominate the market as compared to OEMs owing to surge in demand for customized trailer canopies. By vehicle type, the market is segmented into passenger cars and commercial vehicles. The commercial vehicles are anticipated to hold the major market share over the forecast period. Rising sale of automotive trailers across the globe is one of the primary reason which is expected to maintain the dominance of commercial vehicles in this market. The lightweight commercial vehicles are majorly used for towing trailer canopies.
Geographically, the trailer canopy market is segmented into North America, Europe, Asia Pacific, and the rest of the World. North America holds the largest market share of the trailer canopy market. The increasing trend of trailer canopies, growing adoption of light commercial vehicles, fuel efficiency, have given rise to the market in this region. The Asia Pacific is expected to show significant growth in the market during the forecast period. Growing population, increase in the standard of living, adoption of advance technologies, more inclination towards lightweight, and less pollution is expected to drive the growth of the market. Stringent emission norms imposed by the government is also another factor that is projected to maintain the second-largest position over the forecast period.
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