The global semi-trailer market size is anticipated to attain USD 24.8 billion by 2025, expanding at a CAGR of 3.1%, according to a study conducted by Grand View Research, Inc. Increasing demand across the construction, defense, automotive, and energy sectors is anticipated to be a key factor driving market growth. In addition, increasing dependence of e-commerce companies on third-party logistics (3PL) providers to ensure transportation of goods through hub and spoke distribution model is also expected to augment market growth in the coming years.
Furthermore,
expanding cold chain and logistics industry is contributing significantly to
the market growth. Less than truckload (LTL) and full truckload (FTL) freight
shipping companies worldwide are increasingly adopting semi-trailers due to the
versatility being offered in terms of load carrying capacity. As compared to
rigid trucks, semi-trailers offer the lowest cost of transportation per ton per
km, which is further enhancing its adoption.
Over
the last few years, the product demand has witnessed strong growth on account
of positive growth observed in the oil & gas industry. In the coming years,
the market is poised to register steady growth due to relaxation of regulations
with respect to length and load carrying capacity of semi-trailers. Government
regulations supporting the introduction of lightweight and eco-friendly
transport vehicles are expected to shape the future market demand. However,
lack of proper infrastructure required for transportation, especially in
emerging economies is hampering the semi-trailer market growth.
Manufacturers
are increasingly incorporating advanced technologies such as driver assistance
systems (DAS) and other connectivity solutions into their products to help
their consumers (fleet operators/logistics service providers) enhance
operational efficiency. Furthermore, growing preference for platooning and
introduction of electric semi-trailer trucks are expected to create huge
opportunities for the manufacturers in the coming years. Manufacturers are
increasingly focusing on introducing light-weight transport vehicles through
improved designs and lighter components to ensure greater productivity and
payload.
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Semi-trailer Market
Report Highlights
- The dry vans segment is
expected to witness a revenue-based CAGR of more than 4.0% due to growth
in the retail and fast-moving consumable goods (FMCG) industry, especially
in the developing economies
- The Asia Pacific market is
expected to witness substantial growth owing to improving road
infrastructure and anticipated growth in the automobile industry.
Automotive companies are manufacturing many cars and two-wheelers which
are being transported through semi-trailers to end-consumers
- The market is highly
consolidated with the presence of established players such as Wabash
National Corporation, Schmitz Cargobull, Great Dane, and Kogel Trailer
GmbH
- Players are focusing on
R&D investments, acquisitions and mergers, and product innovation in
order to strengthen their market presence. For instance, in 2017 Wabash
National Corporation entered into a definitive agreement to acquire
Supreme Industries, Inc. to enhance its market presence in dry vans.
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Semi-trailer Market
Segmentation
Grand View Research has segmented
the global semi-trailer market based on type and region:
Semi-trailer Type
Outlook (Volume, Units; Revenue, USD Million, 2015 - 2025)
- Flat Bed Trailer
- Dry Vans
- Refrigerated Trailers
- Lowboy Trailers
- Tanker
- Others
Semi-trailer Regional
Outlook (Volume, Units; Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East & Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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