Technological Advancements and Innovation in the Semi-Trailer Market A Comprehensive Study 2023-2030
According to MRFR analysis, the global Semi-Trailer Market Size is expected to register a CAGR of ~ 5.80% from 2023 to 2030 and hold a value of over USD 41.13 Billion by 2030.
A semi-trailer is a kind of trailer which doesn’t have any shaft and a mixture of one or more trailer that is cast off to carry a carriage is called a semi-trailer. These semi-trailers are generally used in the industries such as medicine, construction, oil and gas, and food and beverages. The semi-trailer market has massive potential and is projected to grow over the forecast period due to the high demand for semi-trailers due to the rising logistics industry.
In addition, the upsurge in the popularity of semi-trailers over full trailers across the globe and the high demand for semi-trailers owing to their reliability and safety are also largely promoting the growth of the semi-trailer market. The market was damagingly impacted by COVID-19 in 2021. This resulted in abridged industrial production. Subsequently, this instigated low demand for semi-trailers.
Similarly, sales and production of the semi-trailers lowered as the global supply chain of the market got disturbed. For instance, a well-known manufacturer of semi-trailers in Europe, Schmitz's, saw a decline of 28% for units factory-made in 2019-2020. The lesser hours of production have impacted the overall production rate of the company, resulting in losses in that quarter.
Key Players
· Wabash National Corporation (US)
· Schmitz Cargobull (Germany)
· Kögel Trailer GmbH & Co.KG (Germany)
· Great Dane Trailers (US)
· American Trailer & Storage (U.S.)
· PACCAR Inc. (U.S.)
· China International Marine Containers (Group) Co. Ltd. (China)
· Utility Trailer Manufacturing Company (the U.S.)
· Schmitz Cargobull AG (Germany)
· Great Dane Limited Partnership (the U.S)., among others
Regional Analysis
North America leads the semi-trailer market because of the stringent government norms, the upsurge in the usage in the food and beverages industry, and the integration of telematics in a semi-trailer.
Asia-Pacific is anticipated to expand at a significant growth rate over the forecast period of 2021 to 2030 owing to rapid development in road infrastructure, industrial expansion, and speedy urbanization.
Market Segmentation
The Global Semi-Trailer Market Share has been segmented into type, tonnage type, number of axles, length, and end-user
Based on type, The Global Semi-Trailer Market has been segmented into flatbed, lowboy, dry van, refrigerated, tanker, and others.
Based on tonnage type, The Global Semi-Trailer Market has been segmented into below 25 tons, 25–50 tons, 51–100 tons, and above 100 tons.
Based on the number of axles, The Global Semi-Trailer Market has been segmented into less than 3 axles, 3–4 axles, and more than 4 axles.
Based on length, The Global Semi-Trailer Market has been segmented into up to 45 feet and above 45 feet.
Based on end users, The Global Semi-Trailer Market has been segmented into heavy industry, automotive, chemical, FMCG, logistics, construction, medical, food and beverage, oil and gas, textiles, and others.
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