Semi-Trailer Market Surpass $24.7 Billion By 2026 | CAGR 3.4%

Author: Acumen Research and Consulting

The global semi-trailer market size is expected to exceed around USD 24.7 billion by 2026, the market is estimated to grow at 3.4% CAGR during the forecast period. Rise in global population is one of the factors that is expected to boost the growth of the global semi-trailer market.

Additionally, the continuous innovation in tire technologies is progressing rapidly that gives rise to introduction of various and there are many trailer tire models that provide low rolling resistance that offers improved fuel efficiency by reducing the usage of fuels in trailers. The advanced semi-trailer is introduced by combining low rolling resistant tires and aerodynamics which is projected to offer growth avenues for the market expansion and to tap new business opportunities. Whereas poor road infrastructure integrated with lack of intent to improve transport facilities is expected to be one of the restraining factor for freight transportation that can directly have a negative impact on the growth of the semi-trailer market. Also, the key players in the semi-trailer market are focused on investing in research and development in order to offer improved efficiency that helps in reducing carbon footprint which is a major factor bolstering the growth of the global semi-trailer market.

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The semi-trailer has seen continuous growth in the freight transportation industry. The increase in stringent regulations mandates the semi-trailer that combines low rolling resistant tires and aerodynamics which offers improved efficiency and safety measures. This will have apositive impact that will help to reduce the carbon footprint in the trucking industry and improve fuel efficiency. The key manufacturers are focusing on developing advanced semi-trailer that will drive the efficiency of the tractor-trailer combination. For instance, many tractor manufacturers and trailer OEMs are collaborating in order to develop an integrated efficiency combination. Moreover, China has also implemented regulations for semi-trailers that are focused on safety which will have a positive step in boosting the demand for semi-trailers. The evolution of traditional trailer to customized trailer-tractor integration and introduction in trailer telematics drives the demand for semi-trailer in the upcoming years.

Recently,Ekeri, which is a Finland-based company introduced a side opening design for a semi-trailer, which helps in reducing the time by 30 minutes on each daily run. Also, Kässbohrer, a Germany-based company introduced 18 new models of semi-trailers across four product groups in order to match up with the changing trends in the industry and to cater to the specific needs of their customers. Therefore, many players in the semi-trailer market are innovating semi-trailers so as to follow the stringent regulations by government that maximize efficiency.

The global semi-trailer market is segmented into type, tonnage, axle, end-use industry and region. On the basis of type, the global semi-trailer market is segmented into dry van, refrigerated trailer, flatbed trailer, dump trailer, curtain trailer, and others. On the basis of tonnage, the global semi-trailer market is segmented into below 25 tons, between 25-50 tons, between 50-100 tons, and above 100 tons. On the basis of axle, the global semi-trailer market is segmented into less than 3 axles, 3 to 4 axles, and more than 4 axles. On the basis of the end-use industry, the global semi-trailer market is segmented into food & beverages, construction, healthcare, heavy industry, textile, oil & gas, and others. On the basis of region the global semi-trailer market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

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The key players catering to the global semi-trailer market are Schmitz Cargobull, China International Marine Containers (Group) Ltd, Utility Trailer Manufacturing Company,Kögel Trailer GmbH, Wabash National, Lamberet SAS, Shandong Arima group, Fontaine Commercial Trailer, Inc., Fahrzeugwerk Bernard Krone, Polar Tank, and Great Dane etc.The key players in the semi-trailer market are constantly focusing on research and development in order to expand their product portfolio and increase their customer base in developing regions. Players are strategically focused on partnership, acquisition, and product launch in order to compete in the market and gain leading position in the semi-trailer market. Also, the continuous change in the customers’ requirements aids manufacturers to offer innovative technology that caters best as per need. Also, the innovation will be more focused on electrification, aerodynamics, autonomous driving and digitalization etc. that are anticipated to offer lucrative growth opportunities for the prominent players in the semi-trailer market.

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