Market Dynamics:

Rising international trade and export-import activities across countries have fueled the demand for efficient cargo transportation, thus driving the semi-trailer market. According to World Trade Organization (WTO), the volume of world merchandise trade is expected to grow by 6% in 2024 as supply chains recover from disruptions caused by the pandemic. Growing seaborne trade particularly in container and dry bulk cargo transport has necessitated the use of semi-trailers for intermodal freight transportation between ships, trains and trucks. Expanding road networks and highway infrastructure development in developing regions is also augmenting the growth of semi-trailer market as it facilitates smooth cargo movement. Furthermore, upgradation of fleet by transport companies with new generation fuel-efficient and eco-friendly semi-trailers will continue to support the market growth over the forecast period

Key Takeaways

The Global Semi-Trailer Market Size is expected to witness high growth over the forecast period driven by the expanding logistics sector and investments in transportation infrastructure worldwide.

Regional analysis: Asia Pacific region is estimated to be the fastest growing market for semi-trailers accounting for over 30% of the global demand by 2031. Countries like China, India, Indonesia and Vietnam are expected to spearhead the regional growth attributable to rising industrial production, abundant natural resources and increasing spending on road infrastructure development. The region also hosts major global automotive hubs fuelling the need for commercial freight transportation across borders.

Key players: Key players operating in the semi-trailer market are ESI Group, COMSOL, Numeca International, Ansys, EXA Corp., and Aspen Tech. ESI Group and COMSOL are leaders in computer-aided engineering software utilized for semi-trailer design and testing. Manufacturers are increasingly adopting virtual prototyping tools from these suppliers to optimize trailer designs, enhance performance and ensure regulatory compliance.

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