Summary
Major players in the semi-trailer market are Wabash National Corporation, Schmitz Cargobull AG, Great Dane LLC, Krone GmbH & Co. KG, Kögel Trailer GmbH & Co.KG, Pitts Trailers, Utility Trailer Manufacturing Company, Hyundai Translead Inc., Premier Trailer Manufacturing Inc, Mac Trailer Manufacturing , RAC-Germany, SDC Trailers Ltd, Dennison Trailers , Karl Kässbohrer Fahrzeugwerke GmbH and Van Hool NV.
The global semi-trailer market is expected to grow from $25.74 billion in 2021 to $26.94 billion in 2022 at a compound annual growth rate (CAGR) of 4.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The semi-trailer market is expected to grow to $36.45 billion in 2026 at a compound annual growth rate (CAGR) of 7.9%.
The semi-trailer market consists sale of semi-trailer services by entities (organizations, sole traders, and partnerships) used for transporting a large number of goods. A semi-trailer refers to a freight trailer without a front axle that when attached is supported at its forward end by the fifth wheel device of the truck tractor.
The main types of semi-trailers are flatbed, lowboy, dry van, refrigerated, tankers, and other types.Flatbed refers to equipment that is open-deck in nature without a roof or sides that is mainly used for transporting heavy, oversized, and wide goods.
These are available in multiple lengths such as trailers up to 45 feet and above 45 feet and are used in heavy industry, FMCG, chemical, automotive, oil and gas, healthcare, logistics, and other end-users.
North America was the largest region in the semi-trailer market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the semi-trailer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rising urbanization is expected to propel the growth of the semi-trailer market going forward.Urbanization is the process by which cities develop and a rising proportion of the population moves there to live.
Semi-trailers help in the transportation of goods and for carrying a large proportion of cargo, raw materials, and finished products, as a result, rising urbanization increases the demand for the semi-trailer market. For instance, according to The United Nations Conference on Trade and Development, a Switzerland-based intergovernmental organization, the percentage of people living in cities rose to 56.2% by 2020. It is higher in wealthy countries are 51.6% than in developing ones which is 79.2% in 2020. Therefore rising urbanization is driving the semi-trailers market.
The increased demand for trailer technology advancement is a key trend in the semi-trailer market.Major companies operating in the semi-trailer market are coming up with new technologies for trailers to sustain their position in the market.
For instance, in April 2020, WABCO, a US-based vehicle control systems provider for semi-trailers, and related heavy vehicles, and Sioen Industries, a Belgium-based company manufacturing chemicals and processing technical textiles launched an innovative and connected technology to prevent theft in trailer cargo named the Detector Solution.Sioen has upgraded its dynatex protector technology powered by WABCO’s advanced fleet management solutions for triggering the alarm for the tarpaulin and for enabling live monitoring and management of trailer access.
This combination of technologies controls trailer breaches in real-time.
In February 2020, The Schwarz Muller Group, an Austria-based manufacturer of premium commercial vehicles acquired Huffermann Transportsysteme GmbH for an undisclosed amount.This acquisition expands Schwarz Muller’s experience in the construction and infrastructure vehicle sector, as well as increases its market share in Germany.
Huffermann Transportsysteme GmbH believes that the acquisition is their best option for sustainable growth and entry into various new markets. Huffermann Transportsysteme GmbH is a Germany-based producer of container trailers operating in the semi-trailers market.
The countries covered in the semi-trailer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The semi-trailers market research report is one of a series of new reports that provides semi-trailers market statistics, including semi-trailers industry global market size, regional shares, competitors with a semi-trailers market share, detailed semi-trailers market segments, market trends and opportunities, and any further data you may need to thrive in the semi-trailers industry. This semi-trailers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
