Rise in the fuel prices and strict government regulations have increased the demand for trailer technology advancement among the fleet owners who are slowly moving towards owning lighter semi-trailers. The freight transport industry and commitment by government bodies of different regions to reduce the road congestion, improving the conditions for transportation, is supporting the growth of the market. On account of these factors, the global semi-trailer market is anticipated to cross more than USD 20 Billion by 2027 by expanding at a CAGR of around 3.3% over the forecast period i.e. 2019-2027.
The market is segmented by type into refrigerated trailer, flatbed trailer, dump trailer, dry trailer, curtain trailer/ stake trailer, tankers, out of which, the dry trailer segment is estimated to hold leading shares owing to significant demand for semi-trailers in various countries of the globe. The market is further bifurcated by tonnage into below 25 tons, between 25-50 tons, between 50-100 tons and above 100 tons, out of which, 25-50 tons segment is anticipated to hold significant shares owing to its adequate capacity to handle freight or cargo.
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By end users, the market is segmented into heavy industry, construction, medical, food and beverage, oil and gas, textile industry out of which, the food and beverage industry is anticipated to have significant growth on account of increase in the demand for consumer goods.
Regionally, the semi-trailer market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in North America is estimated to hold prominent share in the global market owing to the noticeable truck industry with good road infrastructure and connectivity among all the states in the U.S. Growing construction activities and flexible inland transportation services are some of the major factors that are estimated to significantly drive the growth of the market in Asia Pacific region over the forecast period.
Rising Global Population to Boost the Market Growth
The rising global population has led to the increasing demand for consumer goods thus, leading to the expansion of agriculture and manufacturing industries. Moreover, the government initiatives to improve road connectivity along with high cargo carrying capacity of trailers and reduction in the operating cost are some of the attractive factors that are projected to hone the market growth.
However, poor road maintenance affecting the road freight transportation is anticipated to deter the growth of the market over the forecast period.
The report titled “Global Semi-Trailer Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global semi-trailer market in terms of market segmentation by type, by tonnage, by axle, by end use industry and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global semi-trailer market which includes company profiling of China International Marine Containers (Group) Ltd., Great Dane, HYUNDAI Translead, Chassis King, Schmitz Cargobull, Krone Fleet, Wabash National Corporation, Utility Trailer Manufacturing Company and Dorsey Trailer.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global semi-trailer market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Source: https://www.marketwatch.com/
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