Automotive Trailer Market is Expected to grow at a CAGR of 3.8% from 2017 to 2023: China International Marine Containers Co., Ltd, Schmitz Cargobull Aktiengesellschaft, Wabash National Corporation, Great Dane & More.

Allied Market Research published a report, titled, Global Automotive Trailer Market by Trailer Type, Axle Type, Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2017–2023. As per the report, the global automotive trailer market garnered $21.89 billion in 2016, and is expected to reach $28.53 billion by 2023, registering a CAGR of 3.8% from 2017 to 2023. Asia-Pacific contributed to the highest market share in terms of revenue, followed by North America. China accounted for the largest share in the Asia-Pacific market in 2016, and Germany contributed to the highest share of the European market.

The lowered cost in terms of fuel consumption, reduced emissions along with
environment-friendliness drive the growth in the global automotive trailer market. Moreover, extra carriage capacity supplements the market growth. However, rolling down of resale value and huge maintenance cost restrain the market growth.

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Key Findings of the Automotive Trailer Market:

• The commercial vehicle segment generated the highest revenue in the global automotive trailer market in 2016.
• In 2016, three & more than three axle segment was the highest revenue contributor in the axle type segment.
• LAMEA is anticipated to exhibit the highest CAGR during the forecast period.
• In 2016, Asia-Pacific contributed the highest market share, followed by North America, Europe, and LAMEA.

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The key players profiled in the report include China International Marine Containers Co., Ltd, Schmitz Cargobull Aktiengesellschaft, Wabash National Corporation, Great Dane, Dennison Trailers Ltd., Utility Trailer Manufacturing Company, Hyundai Motor Group, Humbaur GmbH, Ifor Williams Trailers Ltd., and Bckmann Fahrzeugwerke GmbH.

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