Pages Menu
TwitterRssFacebook
Categories Menu
Semi-Trailer Market Worth $37 Billion by 2025

Semi-Trailer Market Worth $37 Billion by 2025

The report “Semi-Trailer Market by Type (Flatbed, Lowboy, Dry Van, Refrigerated, Tankers), Tonnage (Below 25T, 25T-50T, 51T-100T, Above 100T), Number of Axles (<3 Axles, 3-4 Axles & >4 Axles), and Region – Global Forecast to 2025″, published by MarketsandMarkets, market is projected to grow at a CAGR of 4.98% during the forecast period, to reach USD 37.34 Billion by 2025 from an estimated USD 25.32 Billion in 2017. Expanding cold chain and logistics industry and increasing 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 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 market size for dry van semi-trailers is estimated to be the highest in 2017 and is projected to remain predominant during the forecast period. The production of dry van semi-trailers is estimated to be the highest, followed by 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), fast moving consumable durable (FMCD) industries is driving the market for dry van, particularly in Asia Pacific.

The market size for semi-trailers with less than 3 axles is expected to be the largest as this type of trailers are preferred in Europe and Asia Pacific. The legally permissible load that can be transported on a semi-trailer depends on the number of axles. Weight limit and Gross Axle Weight Rating (GAWR) depend on state laws and are designed for the safety of the vehicle during operation. Government regulations on weight limits and number of axles are driving the market for less than 3 axles segment.

North America is projected to be the largest market for semi-trailer in 2017. The market growth in the region can be attributed to numerous factors such as improving road infrastructure, expanding supply chain industry, government regulations on weight carrying capacity and dimensions of semi-trailer, Californias Air Resources Board (CARB) mandates related to semi-trailer aerodynamics and the boom in natural gas industry.

The Semi-Trailer Market is dominated by a few globally established players such as Wabash (US), Schmitz Cargobull (Germany), Utility Trailer (US), Krone (Germany), Kögel (Germany), and CIMC (China).

Make an inquiry here.

More articles to read on this website

  • Rabobank Uses Finastra for Cross-border PaymentsRabobank Uses Finastra for Cross-border Payments Finastra announced that Rabobank has selected the global payment services hub from Finastra to centralize cross-border payments. The Netherlands-based bank is implementing the Finastra global payment and money transfers hub solution in […]
  • Irrigation Controllers Market Worth 1,186 Million USD by 2022Irrigation Controllers Market Worth 1,186 Million USD by 2022 The report "Irrigation Controllers Market by Type (Weather-based and Sensor-based), Product (Smart Controllers, Tap Timers, and Basic Controllers), Application (Non-agriculture and Agriculture), Irrigation Type, and Region - Global […]
  • internet of thingsIoT Managed Security Services Market Outlook 2021 Industrial applications are set to be the core focus for IoT Managed Security Service Providers (MSSPs) with ABI Research forecasting overall market revenues to increase fivefold and top $11 billion in 2021. Though OEM and aftermarket […]