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Global market trend 2025-2027 The sudden deterioration of the epidemic in Japan has a greater impact on the market for tow hitch accessories by Newsdakarsmart

Japan surpassed the U.S. in the number of new coronavirus cases last week as the local epidemic worsened sharply.

Medical experts have warned that Japan's medical system could be in for a "seventh wave" of COVID-19, and Prime Minister Fumio Kishida's approval ratings have fallen amid growing concerns about the pandemic.

The coronavirus outbreak in Japan has worsened sharply. Japan led the world in new coronavirus cases last week, according to data compiled by the World Health Organization. Japan recorded 1.33 million new cases in seven days last week; The United States followed with 903,800 cases. On July 29, Japan reported 230,500 new coronavirus cases, the highest daily tally since the pandemic began.

Experts say the BA.5 and BA.2 subvariants of the Omicron virus strains were the primary factor in the rapid deterioration of the coronavirus outbreak in Japan. In addition, this summer, the first since the pandemic began in Japan, has not been under a state of coronavirus emergency, and the spread of the virus has been accelerated by the rise of public gatherings at summer festivals as coronavirus restrictions have eased.

Last Thursday (July 28), the Tokyo Metropolitan government reported 40,406 new cases, the highest since the outbreak began. Health experts have warned that the number of new daily infections in Tokyo could soar to more than 50,000 by the first half of August. On Sunday, the Tokyo Metropolitan government reported 31,541 new cases.

Concerns are growing that Japan's coronavirus infection peak has yet to arrive and that the country's health care system will be tested. Bed occupancy rates in Tokyo, Japan, are reported to be over 40 percent, while in Okinawa, 60 percent of designated covid beds have been filled. The local medical association stressed that "the medical system is on the verge of collapse".

Last week, Masataka Inoguchi, vice president of the Tokyo Medical Association, warned that "COVID-19 infections are spreading among medical staff and there may be ward closures." And not only is there a shortage of medical staff, but there is also a shortage of drivers to transport them home for observation, adding to the strain on the system.

Market overview of the tow hitch accessories

The semi-trailer market is valued at more than $29.8 million in 2021 and is projected to reach $42.8 million by 2027, with a cagR of more than 5.3% over the forecast period.

The market was negatively impacted by COVID-19 in 2021. This leads to a decrease in The industrial production of The tow hitch accessories. Subsequently, this led to low demand for semitrailers. Similarly, sales and production of The tow hitch accessories declined as supply chains in The global market were disrupted. For example, The number of units produced by Schmitz's, a well-known Semi-trailer manufacturer in Europe, declined by 28% in 2019-20. The reduced production time of The tow hitch accessories affected The company's overall productivity, resulting in a loss in The quarter.

In the medium term, the growing use of alternative fuels is likely to drive the growth outlook for the semi-trailer market during the forecast period. Semi-trailer manufacturers are adopting and developing cutting-edge technologies to improve The efficiency of The vehicle The tow hitch accessories. Similarly, German company Kassbohrer recently launched its latest semi-trailer, covering four product groups, in response to changing trends in the industry to meet the exact needs of consumers.

Due to the versatility and flexibility of roads and trailers, most transportation in the manufacturing, automotive, construction and energy sectors takes place on roads and trailers. Semi-trailers are more popular than full trailers.

The tow hitch accessories Key market trends

In the European Union, about 75% of inland freight was transported by road in 2020. In 2019, European roads carried about 1.7 trillion kilometres of goods. In recent years, the share of road freight tow hitch accessories has gradually increased, while the share of railway freight has declined.

The key factor driving the growth of the tow hitch accessories market is the increased inclination toward logistics semi-trailers. In addition, the rapid growth of e-commerce in Europe marks the core pillar of the single digital market and indicates the development of the online retail industry, which is sensing the expansion of well-organized retail space. As the e-commerce tow hitch accessories industry grows in Europe, demand for more developed tow hitch accessories distribution networks is rising. As the market continues to grow, demand is also expected to rise for all types of semi-trailers, most of which are used by commercial fleet operators, including express services, postal services and e-commerce delivery services.

It is expected that by 2025, the North American market will occupy the largest market share of tow hitch accessories

The North American Free Trade Agreement (NAFTA), which allows free trade between the US, Canada and Mexico, will lead to an increase in fleet operations in the region. This is expected to boost tow hitch accessories shipping due to increased business activity and consumer spending. Wabash, Modern Translead, Great Dane, and Utility Trailer are the major players in the North American semi Trailer market. These participants are focusing on collaborating to launch technologically advanced semitrailers. The North American semi-trailer market is currently in a replacement cycle, with an ageing semi-trailer population that needs to be replaced with technologically advanced semi-trailers. As a result, the North American semi-trailer market is expected to dominate the market in terms of value during the forecast period.

The Asia-Pacific region is expected to be the most promising tow hitch accessories market and is expected to continue this trend in the coming years. Increasing infrastructure activity and supporting investment from domestic and foreign investors are the factors leading to the growth of the Asia Pacific tow hitch accessories market. Large projects led to increased demand for tow hitch accessoriess used to transport heavy machinery, driving the tow hitch accessories market during the forecast period.

The tow hitch accessories supplier manufacturer

Youcan Trailer was founded in 1999, located in Shanqiu City, Henan,China. As a professional truck trailer manufacturer, Youcan Trailer provides complete trailer solutions for all types of trailers on different scenarios. We specialized in providing aluminum tankers, fuel tankers, bulk cement trailers , dumper trailers, tipper trailers, stake/sidewall trailers, flatbed trailers, low-bed trailers, container carrier trailers, cargo trailers, and other hundreds of products.

GET YOUR FREE QUOTE: Please describe the type of semi-trailer you want to email:sales@youcantrailer.com. We will reply within 24hours.

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