The global semi-trailer Market is project worth US$ 24.7 Billion by 2026 and the market is projected to showcase 3.4% CAGR during the forecast period. The semi-trailer market is driven by emergence of fuel efficient semi-trailers that helps in reducing carbon footprint.
Growing urbanization and increase in awareness about energy efficient products is the driving force for the growth of the Semi-trailer market. Also, governments stringent regulation and low emission policies across the globe encourage the usage of semi-trailers that integrates low rolling resistant tires and aerodynamics that helps in fuel savings as well as reduce carbon emissions which are the key factors driving the growth of the global semi-trailer market.
Technologies for instance, Telematics, electrification, digitalization and autonomous driving are renovating and transforming the semi-trailers. The evolution of digital technologies will create new opportunities such as advanced trailer telematics and AI-based optimization will lower congestion, utilization and costs.For instance, in 2016, around 20% of the semi-trailers in U.S are incorporated with telematics that helps to gather information related to temperature and fuel management of the semi-trailer.
The global semi-trailer market is segmented into five major segment named product type, tonnage, axle, end-use industry and region. On the basis of product 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,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, Europe, Asia Pacific, Latin America and Middle East & Africa.
Based on product type, the global semi-trailer market can majorly be segmented into fivesub-segment, which are dry van, refrigerated trailer, flatbed trailer, dump trailer, and curtain trailer. The dry van segment is expected to dominate the global semi-trailer market due to the extensive usage in countries such as the U.S and Mexico. There are various advantages of dry vans as compared to other trailer type segments such as the dry van trailer helps in protecting the goods from bad weather and robbery. Also, the curtain trailer is the most attractive semi-trailer due to its cost effectiveness and the high efficiency of loading and unloading of freight.
The presence of improved road infrastructure and prominent trucking industry in U.S in the North America region is the key factor for the growth of the semi-trailer market. There is extensive usage of semi-trailers in food & beverages industry in mainly North America and Europe region. Also, stringent government norms, increasing usage in food & beverages industry, and incorporation of telematics in semi-trailer are the factors expected to drive the semi-trailer market in these regions.
Asia Pacific is projected to grow with fastest CAGR due to the improvement in road infrastructure, industrial expansion, and rapid urbanization. China holds major share in the semi-trailer market in Asia Pacific region as it is one of the leading exporter across the globe that transports freights in large numbers. Also, the increase in stringent government regulations to promote usage of fuel efficient semi-trailers is projected to drive the growth of the semi-trailer market.
The major players associated with the 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.
Key manufacturers invests heavily in research and development to manufacture low weighting, fuel efficient and innovative semi-trailer models. Additionally, players associated with the global semi-trailer market are focusing mainly on merger and acquisition and developing strategic partnerships with other players in order to expand their product portfolio and to increase the market share.
Market By Product Type
Market By Tonnage
Market By Axles
Market By End-use Industry
Market By Geography