Global Semi-Trailer Market Size To Exceed USD 45.84 Billion by 2030 | CAGR of 5.28%

Category: Automotive & Transportation

RELEASE DATE Mar 2023
REPORT ID SI1622

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Global Semi-Trailer Market Value to Exceed $45.84 Billion by 2030

 

According to a research report published by Spherical Insights & Consulting, The Global Semi-Trailer Market Size is to grow from USD 31.45 billion in 2021 to USD 45.84 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 5.28% during the forecast period. The increasing use of semi-trailer in various vehicle types such as heavy industry, FMCG, textile industry, chemical, automotive, oil & gas, food & beverage, healthcare, logistics, and others will boost the demand for the semi-trailer market.

Global Semi-Trailer Market

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Browse key industry insights spread across 200 pages with 123 market data tables and figures & charts from the report on "Global Semi-Trailer Market Size, Share, and COVID-19 Impact Analysis, By Type (Flatbed, Lowboy, Dry Van, Refrigerated, Tankers, Others), By Tonnage (Below 25 T, 25 T-50 T, 51 T-100 T, Above 100 T), By End-Use and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/semi-trailer-market

 

A semi-trailer, often known as a semi-trailer truck, is a type of transport vehicle that consists of a trailer and one or more semi-trailers. Semi-trailers are frequently employed as part of local or worldwide transportation infrastructure to enable intermodal freight shipment. Several rail flatbed train carriages have been converted to carry freight trailers or containers with or without wheels. Semi-trailers come in a variety of configurations, including vans, reefers, flatbeds, sidelifts, and tankers. The volume of demand for freight trailers and trucks is steadily increasing. As a result of the rapid growth of facilities and infrastructure, the need for highway transportation has expanded, hence expanding the semi-trailer market. The key drivers of the semi-trailer market are predicted to be exponentially developing modernization, increasing rapid industrialization, and the importance of transportation infrastructure. Additionally, the growth of end-use industries, as well as the increasing cold storage facilities industry, is likely to drive semi-trailer market sales trends during the projection period.

 

The dry van segment accounted the largest market share over the forecast period.

On the basis of type, the global Semi-Trailer market is segmented into flatbed, lowboy, dry vans, refrigerated, tankers, and others. Among these, the dry van segment is dominating the market and is going to continue its dominance over the forecast period, owing to the wide range of adoption by various industries. The dry vans are primarily utilized to transport freight that has to be insulated from adverse weather and road conditions.

 

The below 25 T segment is dominating the market with the largest revenue share over the forecast period.

On the basis of tonnage type, the global Semi-Trailer market is segmented into below 25 T, 25 T-50 T, 51 T-100 T, and above 100 T. Among these, the below 25 T segment is dominating the market with the largest revenue share of 32.7% over the forecast period. It has become the most common tonnage type utilized in semi-trailer transport systems. This tonnage class includes dry vans, refrigerated semi-trailers, and tankers. Additionally, the portion below 25 T adheres to legally permissible limitations globally.

 

Asia Pacific dominates the market with the largest market share over the forecast period.

 

Global Semi-Trailer Market

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Asia Pacific is dominating the market with more than 56.8% market share over the forecast period. One of the main drivers propelling the semi-trailer market in the Asia Pacific area is the increased investment in inland transportation and infrastructure, as well as the growth of the industrial and construction sectors and the quickly rising demand from logistic and e-commerce enterprises.

 

In contrast, North America is anticipated to expand at the fastest rate during the projection period because the region has a significant logistical industry. The semi-trailer market in North America is being driven by improved road and transportation infrastructure, which is promoting improved road connectivity.

 

Major vendors in the Global Semi-Trailer Market include Satrac, Montracon, MANAC INC., Schmitz Cargobull AG, Utility Trailer Manufacturing Company, Wabash National Corporation, China International Marine Containers, Kogel Trailer GmbH & Co.KG, HYUNDAI TRANSLEAD, Fontaine Commercial Trailer, Inc., Dennison Trailers Ltd., Rac Germany, Kassbohrer, Great Dane, ChassisKing, Inc., Shandong Arima group, Polar Tank Trailer, LLC, Krone Commercial Vehicle Group, Schwarzmüller Group, and many others.

 

Key Market Developments

  • On March 2023, TQM, a Czech freight and transportation and logistics provider, is increasing its fleet, and the internationally active transportation company has acquired Kögel Mega trailers to that goal. TQM selected Kögel trailers because of their outstanding durability and reliability, in addition to their transportation efficiency benefits. As a result, based on the various national legal requirements, current fifth-wheel heights for low-deck semi-trailer trucks can be driven.

 

  • In November 2021, Schmitz Cargobull introduced the S. KO PACE SMART box body semi-trailer. The lightweight panels are utilized to construct trailers that are significantly lighter than competitors. This will also significantly reduce carbon emissions over the trailer's lifetime, which operators may expect to, translate into lower fuel bills.

 

  • In March 2021, Supreme Industries, Inc., a manufacturer of truck bodywork and specialty vehicles, has been acquired by Wabash National Corporation, a leading manufacturer of semi-trailers and liquid transportation systems. Wabash's product line is expanded, and the company's position as a leading producer of commercial vehicles and transport solutions is strengthened.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the Global Semi-Trailer Market based on the below-mentioned segments:

 

Semi-Trailer Market, Type Analysis

  • Flatbed
  • Lowboy
  • Dry Van
  • Refrigerated
  • Tankers
  • Others

 

Semi-Trailer Market, Tonnage Type Analysis

  • Below 25 T
  • 25 T-50 T
  • 51 T-100 T
  • Above 100 T

 

Semi-Trailer Market, End-Use Analysis

  • Heavy Industry
  • FMCG
  • Textile Industry
  • Chemical
  • Automotive
  • Oil & Gas
  • Food & Beverage
  • Healthcare
  • Logistics,
  • Others

 

Semi-Trailer Market, Regional Analysis

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Uk
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of Middle East & Africa

 

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

 

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