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Semi-Trailer Market: Trends and Developments

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Semi-Trailer Market: Trends and Developments

March 29
20:15 2021
Semi-Trailer Market: Trends and Developments

Semi-Trailer Market
Increasing manufacturing activities, urbanization, the need for effective transportation, and the widening of the rural area road networks are major factors fueling the growth of the semi-trailer market.

According to the new market research report Semi-Trailer Market by Type (Flatbed, Lowboy, Dry Van, Refrigerated, Tankers and Others), Number of Axles (4 Axles), Tonnage (Below 25T, 25T-50T, 51T-100T, and Above 100T), Length, End-Use and Region”, Published by MarketsandMarkets™, The global Semi-Trailer Market is estimated to be USD 29.5 billion in 2020 and is projected to grow to USD 41.2 billion by 2025, at a CAGR of 5.6% during the forecast period.

The Semi-Trailer Market is primarily driven by the ever-growing need for improved transportation operations across various essential as well as non-essential sectors. OEMs are integrating fuel-efficient designs in their new models to reduce air resistance and offer cost savings for fleet operators. The rising importance of fuel conservation and emission control has resulted in government authorities mandating technologies and emphasizing improved designs. OEMs are therefore focusing on increasing usage of lightweight materials to reduce weight and help fleet operators reduce carbon footprint and increase cost savings. These cost savings may result from reduced fuel consumption or extra-legally permissible load carrying capacity for semi-trailers. On a global level, the demand for semi-trailers is expected to grow significantly due to the positive economic outlook and expanding supply chain infrastructure. Due to the ongoing COVID-19 pandemic, an effective transportation chain has gained immense importance worldwide.

Browse in-depth TOC on “Semi-Trailer Market”

249 – Tables
64 – Figures
236 – Pages

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Expanding the cold chain and logistics industry and increasing the use of advanced technologies are the key drivers for the Semi-Trailer Market. Increasing disposable income of consumers and the general push to fresh, healthier products, and an increasing number of quick-service restaurants (QSRs) are impacting the cold chain industry. A key driver for the growth of the cold chain industry in recent years has been the growth in large-format supermarket retailing. The installation of technically advanced devices such as a temperature recorder with a built-in GSM modem and remote temperature monitoring in the refrigerated trailers is benefiting trailer owners and managers in the real-time monitoring of the trailer.

Logistics is estimated to hold the largest market share during the forecast period

The logistics segment is projected to be the largest during the forecast years. Increasing demand for third-party logistics by small & medium players of various industries would continue to drive the demand for semi-trailers. Most companies rely on third-party logistics companies to decrease investments in fleet, reduced workforce, and availability of various types of containers, tanks, and flatbeds as per the requirement of companies.

The increasing dependence of e-commerce companies on third-party logistics (3PL) providers to ensure transportation of goods through warehouse and distribution hub and increasing partnerships between manufacturers and semi-trailer service providers is driving the logistics market for semi-trailers. North America is estimated to be the largest region for the logistics Semi-Trailer Market. The region’s market is driven by the growing adoption of third-party semi-trailers service by key players of various industries, growing demand for reefers, and an increasing number of logistics service providers.

Less than 3 axles segment is estimated to be the largest segment by number of axles from 2017 to 2025

The market size for semi-trailers with less than 3 axles is expected to be the largest as this type of trailers are preferred in North America and the Asia Pacific. The legally permissible load that can be transported on a semi-trailer depends on the number of axles. Weight limit and Gross Axle Weight Rating (GAWR) depend on state laws and are designed for the safety of the vehicle during operation. Government regulations on weight limits and the number of axles are driving the market for less than 3 axles segment.

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Asia Pacific is estimated to highest CAGR growth in a semi-trailer

This Semi-Trailer Market in the Asia Pacific has experienced high growth in the past few years. The region comprises some of the fastest-growing economies, including India, China, and South Korea. With developments taking place at a fast pace, the logistics sector in this region is growing. The high growth of industrialization in these countries offers new opportunities in the Semi-Trailer Market. The increase in the overall industrial production has led to increased freight transportation, fueling the demand for semi-trailers in this region. The region offers better cost advantages related to labour and materials than developed regions. Moreover, government policies in India and China encourage the production of semi-trailers in local markets to satisfy domestic demands. For instance, in 2015, China has started “Made in China 2025”, which is backing the companies in this region to compete with global players. All these factors have led to the increased production volumes over the years, where OEMs not only satisfy domestic demands but also serve developed markets and remain globally competitive.

The report analyzes all major players in the Semi-Trailer Market including China International Marine Containers (China), Wabash National (US), Schmitz Cargobull AG (Germany), Utility Trailer Manufacturing Company (US), and Fahrzeugwerk Bernard Krone (Germany).

Browse Related Reports:

Modular Trailer Market by Type (Multi-Axle, Telescopic/Extendable, and Lowboy Trailer), Axles (2 Axles and >2 Axles), Application (Construction & Infrastructure, Mining, Wind & Energy and Heavy Engineering), and Region – Global Forecast to 2027

Telematics Solutions Market by Service (ACN, eCall, RSA, Remote Diagnostics, Insurance Risk Assessment, Driver Behavior, Billing & Other), Form & Vehicle Type, Component, Connectivity, Aftermarket, Fleet Management Service, Region – Global Forecast to 2025

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/semi-trailer-market.asp

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Website: https://www.marketsandmarkets.com/Market-Reports/semi-trailer-market-136867745.html