Global Semi-Trailer Market Size, Trends & Analysis - Forecasts to 2026
Global Semi-Trailer Market Insights
The global semi-trailer market is estimated to witness a high CAGR during the forecast period (2019-2026). Expanding cold chain industry along with increasing use of advanced technologies are some of the major factors driving the market growth during the forecast period. Improvement in road connectivity among developing countries such as India, China, Mexico, and Saudi Arabia among others is expected to propel the market growth. Semi-trailers are used for carrying high cargo capacities in logistics and manufacturing industries. Poor road infrastructure along with lack of improper transport facilities is expected to restrain the market demand during the forecast period.
Semi-Trailer Market: By Type
On the basis of type, the global semi-trailer market is segmented into flatbed, lowboy, dry van, refrigerated, and tankers among others. The dry van semi-trailer segment is expected to hold the largest market share during the forecast period. Dry van semi-trailers are used in various application in different industries such as manufacturing, packaging, consumer goods and food & beverage industries among others. They are also used by LTL and FTL fleet operators for different operations because of their versatility and cost efficiency.
Refrigerated semi-trailers type is expected to grow at a significant CAGR during the forecast period. These trailers are designed to carry goods at a specific temperature. Growing demand for frozen food products across the globe is one of the major factors driving the market growth.
Semi-Trailer Market: By Tonnage
On the basis of tonnage, the market is segmented into below 25t, 25 t-50 t, 51 t- 100 t, and above 100 t. Below 25t segment is estimated to hold the largest market share of the global market in 2019. Below 25t segment is projected to grow at the highest CAGR and is expected to remain the largest segment during the forecast period. Government regulations regarding weight carrying capacity for road safety is the one of the major factors driving the market growth for below 25t segment. These trailers are used to carry adequate capacity of freight or cargo in different industries.
Semi-Trailer Market: By Number of Axles
Based on number of axles, the Semi-Trailer market is segmented into less than 3 axles, 3-4 axles, and above 4 axles. Less than 3axles segment is dominating the market and is projected to grow at a high CAGR in terms of revenue during the forecast period. These type of trailers are used for transportation of load below 50 tons. These semi-trailers are cost effective compared to other axles segments. The market for 4 axles semi-trailers segment is likely to increase gradually during the forecast period. These semi-trailers have higher efficiency and strength as compared to 3 axles semi-trailers
Semi-Trailer Market: By Region
Asia Pacific is expected to have largest market share in the semi-trailer market during the forecast period. The expanding manufacturing sector and increasing foreign investments in the region are the major factors driving the semi-trailer market growth. Increasing investments in infrastructure, construction activities along with growing retail sector in the region is expected to drive the market growth during the forecast period. Europe region is expected to have significant market share in the semi-trailers market during the forecast period. The growing construction projects in Germany, UK, Spain, and France are the major factors propelling the market growth in this region.
Semi-Trailer Market: End Use Landscape
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase. The key end-users of the markets are Graham packaging, Bemis packaging, Nestle and Samsung among others.
Semi-Trailer Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the Semi-Trailer market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Semi-Trailer Market Share & Competitor Analysis
Some of the key players operating in the Semi-Trailer market are Wabash, Schmitz Cargobull, Utility Trailer, Krone, Kogel, Great Dane Trailers, China International Marine Containers, Chassis King, Polar Tank, Hyundai Translead, and lamberet SAS among others
Please note: This is not an exhaustive list of companies profiled in the report.
In October 2019, Utility Trailer signed an agreement to partner with America Trucking Associations (ATA) Heroes for truck workforce development program
In August 2019, Grate Dane Trailers company partnered with Leslie Doggett Industries as a full service dealer. Doggett offer its services for dry freight and refrigerator van trailers in Texas
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The global Semi Trailer Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Semi Trailer Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies.
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