- Below 25t segment is estimated to hold the largest share of the global semi-trailer market.
- North America is projected to be the largest market for a semi-trailer.
- The market size for dry van semi-trailers are estimated to be the highest.
The Global Semi-Trailer Market is estimated to be $25.32 billion in 2017 and is projected to reach $37.34 billion by 2025, growing at a CAGR of 4.98% during the forecast period.
Expanding the cold chain and logistics industry and increasing the use of advanced technologies are the key drivers for the semi-trailer market. Increasing disposable income of consumers and the general push to fresh, healthier products, and increasing number of quick-service restaurants (QSRs) are impacting the cold chain industry.
A key driver for the growth of the cold chain industry in recent years has been the growth in large-format supermarket retailing. The installation of technically advanced devices such as temperature recorder with a built-in GSM modem and remote temperature monitoring in the refrigerated trailers is benefiting trailer owners and managers in the real-time monitoring of the trailer.
The global semi-trailer market is segmented on the basis of type, tonnage, number of axles, and region. The report discusses six semi-trailer types, namely, flatbed, low boy, dry van, refrigerated, tanker, and others. The other segment includes tippers and dumps semi-trailer.
Dry van semi-trailer segment held the largest share in the global semi-trailer market and is estimated to grow with the highest CAGR during the forecast period, due to its wide applications in multiple industries. These trailers are used by LTL and FTL fleet operators for their operations because of their versatility and cost-efficiency.
Major players profiled in the report are:
- CIMC (China)
- Wabash (US)
- Schmitz Cargobull (Germany)
- Great Dane (US)
- Utility Trailer (US)
- Krone (Germany)
- Kögel Trailer (Germany)
- Hyundai Translead (US)
- Lamberet (France)
- Wilhelm (Austria)
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North America: Largest market for semi-trailer
North America is projected to be the largest market for a semi-trailer in 2017. The market growth in the region can be attributed to numerous factors such as improving the road infrastructure, expanding supply chain industry, government regulations on weight carrying capacity and dimensions of a semi-trailer, Californias Air Resources Board (CARB) mandates related to semi-trailer aerodynamics and the boom in the natural gas industry.
Below 25t segment to remain predominant during the forecast period
Below 25t segment is estimated to hold the largest share of the global semi-trailer market in 2017. The segment is estimated to grow at a significant CAGR and is expected to remain the largest market during the forecast period. The growth of this segment is driven by government regulations regarding weight carrying capacity for road safety.
A dry van is estimated to hold the largest market share during the forecast period
The market size for dry van semi-trailers are estimated to be the highest in 2017 and are projected to remain predominant during the forecast period. The production of dry van semi-trailers is estimated to be the highest, followed by a flatbed, refrigerated, low boy, others, and tankers.
Developing countries such as China and India have witnessed significant infrastructural and economic growth, which has increased the demand for dry van semi-trailers. The growth in retail, fast-moving consumable goods (FMCG), and fast-moving consumable durable (FMCD) industries is driving the market for dry van, particularly in the Asia Pacific.