Increasing demand for road transportation in order to fulfill the demand for shipment is anticipated to propel the market during the forecast period
Wilmington, Delaware, United States, Sept. 15, 2023 (GLOBE NEWSWIRE) — The global semi-trailer market is projected to flourish at a CAGR of 2.6% from 2022 to 2031. As per the report published by TMR, a valuation of US$ 41.7 billion is anticipated for the market in 2031. As of 2023, the market for Semi-trailer is expected to close at US$ 34 billion.
The rise in industrialization and expansion of manufacturing and agriculture industries in the majority of developing countries around the world have led to extensive usage of road freight transportation driving the semi-trailer market growth during the forecast period.
Rapid economic development and expansion of manufacturing, agriculture, electronics, and textile and apparel industries a prime factors driving the market demand.
Rapid urbanization and population growth in many regions have increased the demand for consumer goods, food products, and construction materials, driving the semi-trailer market growth.
The rise of e-commerce has led to a surge in demand for efficient and flexible transportation solutions is anticipated to propel the semi-trailers market as these are essential for the distribution of goods purchased online, especially for long-haul deliveries.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | USD 32.3 Bn | |
| Estimated Value | USD 41.7 Bn | |
| Growth Rate – CAGR | 2.6% | |
| Forecast Period | 2022-2031 | |
| No. of Pages | 250 Pages | |
| Market Segmentation | By Semi-trailer Type, Tonnage, Axle, End-use Industry | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | ChassisKing, Inc., China International Marine Containers (Group) Ltd., FAHRZEUGWERK BERNARD KRONE GMBH & CO. KG, Great Dane, HYUNDAI Translead, Kogel Trailer GmbH, LAMBERET SAS, Schmitz Cargobull, Schwarzmüller Group, Shandong Arima group, Shandong Liang Shan Huayu Group, Wabash National Corporation, Utility Trailer Manufacturing Company, Dorsey Trailer, MANAC INC., Polar Tank, Fontaine Commercial Trailer, Inc., Other Key Players | |
Key Takeaways from the Market Study
- As of 2022, the semi-trailer market was valued at US$ 33.1 billion
- Based on semi-trailer type, the curtain/stake semi-trailer segment held a major share of the market. It is projected to maintain its leading position during the forecast period primarily due to the extensive use of stake trailers in developing and developed economics.
- Based on the end-use industry, the heavy industry segment dominated the semi-trailer market during the forecast period owing to the expansion of the manufacturing and construction industries.
Semi-trailer Market: Key Trends and Opportunistic Frontiers
- Increasing technological advancements in trailer technology, including telematics, GPS tracking, and sensor systems, have improved fleet management, maintenance, and safety, making semi-trailers more attractive to operators, and boosting market growth.
- Growth in emerging markets with expanding middle-class populations and increased consumer demand for goods contributes to a higher requirement for transportation services, including semi-trailers.
- Semi-trailers that offer increased payload capacity, better fuel efficiency, and reduced operating costs are gaining popularity as businesses seek ways to optimize their logistics and transportation operations.
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Semi-trailer Market– Regional Analysis
- Asia Pacific is expected to dominate the semi-trailer market. China accounted for a prominent share of the market in the region, as the country is home to a significant number of semi-trailers, especially stake trailers.
- North America was a highly attractive market for semi-trailer owing to the presence of significantly large logistics industry in the region. Good road connectivity in North America has been a major factor driving the road transport industry in the region.
Competitive Landscape
The semi-trailer market is highly consolidated with the presence of a few market players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global semi-trailer market report:
- ChassisKing, Inc.
- China International Marine Containers (Group) Ltd.
- FAHRZEUGWERK BERNARD KRONE GMBH & CO. KG
- Great Dane
- HYUNDAI Translead
- Kögel Trailer GmbH
- LAMBERET SAS
- Schmitz Cargobull
- Schwarzmüller Group
- Shandong Arima group
- Shandong Liang Shan Huayu Group
- Wabash National Corporation
- Utility Trailer Manufacturing Company
- Dorsey Trailer
- MANAC INC.
- Polar Tank
- Fontaine Commercial Trailer, Inc.
- Other Key Players
Key Developments in the Semi-trailer Market
- Utility Trailer Manufacturing had been working on aerodynamic designs and lightweight components for semi-trailers. Their focus was on enhancing fuel efficiency and reducing operating costs for fleet operators.
- Hyundai Translead had been working on lightweight composite materials for semi-trailers to increase payload capacity while maintaining structural integrity. These developments targeted improved efficiency and cost-effectiveness. Hyundai Translead, announce the grand opening of its new Innovation Lab (iLab). The cutting-edge facility will serve as a hub for customer driven innovation and creativity, as Hyundai Translead continues to push the boundaries of what is possible in the transportation industry.
Partial Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.1.1. Market Size in Units, Value US$ Mn, 2017-2031
1.2. TMR Analysis and Recommendations
1.3. Competitive Dashboard Analysis
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Market Dynamics
2.3.1. Drivers
2.3.2. Restraints
2.3.3. Opportunity
2.4. Market Factor Analysis
2.4.1. Porter’s Five Force Analysis
2.4.2. SWOT Analysis
2.5. Regulatory Scenario
2.6. Key Trend Analysis
2.7. Value Chain Analysis
2.8. Cost Structure Analysis
2.9. Profit Margin Analysis
3. COVID-19 Impact Analysis – Semi-trailer Market
4. Global Semi-trailer Market, By Semi-trailer Type
4.1. Market Snapshot
4.1.1. Introduction, Definition, and Key Findings
4.1.2. Market Growth & Y-o-Y Projections
4.1.3. Base Point Share Analysis
4.2. Global Semi-trailer Market Size & Forecast, 2017-2031, By Semi-trailer Type
4.2.1. Refrigerated Trailer
4.2.2. Flatbed Trailer
4.2.3. Dump Trailer
4.2.4. Dry Van
4.2.5. Curtain Trailer/ Stake Trailers
4.2.6. Tankers
4.2.7. Others
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Semi-trailer Market – Key Segments
Semi-trailer Type
- Refrigerated Trailer
- Flatbed Trailer
- Dump Trailer
- Dry Van
- Curtain Trailer/ Stake Trailers
- Tankers
- Others
Tonnage
- Below 25 Tons
- Between 25-50 Tons
- Between 50-100 Tons
- Above 100 Tons
Axle
- Less than 3 Axles
- 3 to 4 Axles
- More than 4 Axles
End-use Industry
- Heavy Industry
- Construction
- Medical
- Food & Beverage
- Oil & Gas
- Textile Industry
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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