Research Nester recently published report titled “Semi-Trailer Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the semi-trailer market in terms of market segmentation by type, by tonnage, by axle, by end use industry and by region.
The global semi-trailer market is anticipated to surpass USD 20 Billion by 2027 by expanding at a CAGR of around 3.3% over the forecast period i.e. 2019-2027 owing to increasing innovations, improving road infrastructure and expansion of industries. The market is primarily driven by the consumers’ demand for goods, optimized road connectivity and advancement in trailer technology. Additionally, the commitment by freight transport industry and government bodies in different regions of the world to reduce the road congestion, improving the conditions for transportation is estimated to support the growth of the market.
The market is segmented by type, tonnage, axle, end use industry & region. The market is segmented by type into refrigerated trailer, flatbed trailer, dump trailer, dry trailer, curtain trailer/ stake trailer and tankers; on the basis of tonnage into below 25 tons, between 25-50 tons, between 50-100 tons and above 100 tons; in terms of axle into less than 3 axles, 3 to 4 axles and more than 4 axles, out of which, more than 4 axles segment is estimated to grow gradually during the forecast period owing to its efficiency and strength. The market is further segmented by end users into heavy industry, construction, medical, food and beverage, oil and gas, textile industry.
Geographically, the semi-trailer market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, 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. Furthermore, 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.
Growing Global Population and Government Initiatives
The rising global population has led to increasing demand for consumer goods, thus, leading to the expansion of agriculture and manufacturing industries that are ultimately increasing the demand for semi-trailers for transportation, further supporting the growth of the market. Additionally, growing initiatives by government of different regions in improving the road connectivity is anticipated to boost the growth of the market during the forecast period.
However, incomplete maintenance of roads and lack of intent to improve transport facilities are some of the major factors that are estimated to negatively impact the growth of the market over the forecast period
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 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.