There are a number of choices for suspension on a trailer that are practical and enduring and while there are other options such as swing arms, coil and shock absorber style suspension available, the following are the most popular.
Leaf spring suspension has been around in one form or another since Roman times and steel leaves have been used since the 18th century. You might think that using leaf springs on your trailer is a bit old fashioned, believe me its not. The reason why is we still use them is because they are so damn good. They are relatively cheap to manufacture, long lasting, easy to repair or replace and depending on the spring setup, can carry huge loads while reducing stresses on the trailer chassis and axles.
Springs are built to an upper load limit and need to be matched to the total trailer and load weight. Too low a load rating and the springs will bottom out and quickly fail. Too heavy and the ride will be stiff and harsh causing stress to both the trailer and load.
Leaf springs are available in almost any combination from very light duty single leaf to behemoth 12 leaf plus monsters.
Find a spring that matches your load rating and find one that has a reasonable camber that suits your axle position. Springs are normally available painted, but galvanised leaves and also proprietary corrosion coatings are also available. Just remember that leaf springs are designed to slide against each other and wear between the leaves is inevitable and unpreventable. Galvanised springs, due to the nature of the heat treatment process may be slightly weaker overall and loose their camber quicker than painted springs.
Poorly galvanised springs are prone to cracking and failure - always purchase from a reputable supplier.
This spring has the least moving parts of all springs although there can be a bit of wear where the spring tail rubs against its slipper. An anti rattle version is available as this spring can be very noisy over bumpy roads if the standard version is used. Using the slipper to retain the spring gives good lateral stability to the trailer and is especially good on a trailer with 2 or more axles because of this extra constraint. An advantage of these springs on a single axle is that the distance between the chassis and the spring is quite compact and can be helpful if you are after a lower deck height.
Another possible disadvantage is they take a bit more room up under the chassis and can limit how low the deck height can be.
Multi parabolic springs are available and these are setup with spacers between each leaf to prevent contact due to the shape of the leaves. These will take more weight but again add more to the underside of the trailer raising the deck height considerably.
Torsion suspension is basically a swing arm style axle which pivots within a rubber or elastomer enclosure.
As load is applied to the axle the torsion arm turns within the rubber causing the rubber to compress on one side and roll on the other and as the load is released the rubber moves the torsion arm back to its original position.
This type of suspension can give a very smooth ride as the trailer rides over the bumps with independent suspension. Another advantage is that the trailer deck height can be significantly lower to due the lower profile of the torsion unit.