Press release
Semi Trailer Market Outlook 2024: Exclusive Report By The Business Research Company
Semi Trailer
The Business Research Company offers in-depth market insights through Semi Trailer Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The semi-trailer market size has grown strongly in recent years. It will grow from $29.4 billion in 2023 to $31.73 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to freight transportation demand, infrastructure development, economic growth, e-commerce boom, global trade expansion.
The semi-trailer market size is expected to see strong growth in the next few years. It will grow to $42.29 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to sustainable transportation, digitalization in logistics, last-mile delivery solutions, infrastructure investments, autonomous freight transportation. Major trends in the forecast period include advanced technologies, electric and hybrid semi-trailers, connectivity and iot integration, automation and autonomous features, advanced safety features.
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Market Segmentation:
The semi-trailer market covered in this report is segmented -
1) By Type: Flatbed, Lowboy, Dry Van, Refrigerated, Tankers, Other Types
2) By Length: Up To 45 Feet, Above 45 Feet
3) By End-Use: Heavy Industry, FMCG, Chemical, Automotive, Oil And Gas, Healthcare, Logistics, Other End-Users
Major Driver - The Impact Of Urbanization On The Semi-Trailer Market
The rise in 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 World Bank, globally, over 50% of the population lives in urban areas today. By 2045, the world's urban population will increase by 1.5 times to 6 billion . Therefore, rising urbanization is driving the semi-trailers market.
Competitive Landscape:
Major companies operating in the semi-trailer market report are Wabash National Corporation, Schmitz Cargobull AG, Great Dane LLC, Krone GmbH & Co KG, Kogel Trailer GmbH & Co. KG, Utility Trailer Manufacturing Company, Hyundai Motor Company, Stoughton Trailers LLC, Vanguard National Trailer Corporation, MAC Trailer Manufacturing, Manac Inc., East Manufacturing Corporation, Fontaine Trailer Company, Wilson Trailer Company, Doonan Specialized Trailer LLC, Pitts Enterprises Inc., Strick Trailers LLC, Reitnouer Inc., Heil Trailer International LLC, Transcraft Corporation, Trail King Industries Inc., Travis Body & Trailer Inc., Talbert Manufacturing Inc., Timpte Inc., XL Specialized Trailers LLC, Dorsey Trailer LLC, Witzco Challenger Trailers Inc., Lode King Industries Ltd., Muv-All Trailer Company, Trail-Eze Inc.
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https://www.thebusinessresearchcompany.com/report/semi-trailer-global-market-report
Top Trend - Advancements In Trailer Technology Drive Growth In The Semi-Trailer 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 July 2022, Ashok Leyland, a Indian automotive industry company, launched AVTR 4220 with 41.5T GCW and AVTR 4420 with 43.5T GCW in 4×2 tractor segment. The unique features of these two tractor-trailers include a Proven H6 engine 6-cylinder engine with i-Gen6 technology, GCW options of 41.5T and 43.5T with compatible 2 axle trailer, improved fluid efficiency and lower DEF usage, and additional cabin options. These trailers were designed to enable company to produce custom-tailored products to meet the needs of each customer.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Semi Trailer Market Characteristics
3. Semi Trailer Market Trends And Strategies
4. Semi Trailer Market - Macro Economic Scenario
5. Semi Trailer Market Size And Growth
…..
27. Semi Trailer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
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