Modular Trailer Market: Trend, Forecast, Opportunity by 2027

According to the new market research report "Modular Trailer Market by Type (Multi-Axle, Telescopic/Extendable, and Lowboy Trailer), Axles (2 Axles and >2 Axles), Application (Construction & Infrastructure, Mining, Wind & Energy and Heavy Engineering), and Region - Global Forecast to 2027", published by MarketsandMarkets™, The Modular Trailer Market, by value, is projected to grow to USD 19.6 billion by 2027 from USD 14.0 billion in 2019, at a CAGR of 4.3%.

The increasing demand for modular trailers in construction and infrastructure, mining, wind & energy, and heavy engineering will drive the growth of the Modular Trailer Market.

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The Modular Trailer Market is dominated by global players and comprises several regional players as well. The key players in the Modular Trailer Market are Goldhofer (Germany), Nooteboom Trailers (Netherlands), Faymonville (Italy), VMT Industries (India), TII Group (Germany) K-Line trailers (Canada), Tratec Engineers (India), and Anster (China).

“Multi-axle trailer to be the largest segment, by trailer type”

The multi-axle trailer segment is projected to lead the Modular Trailer Market, by trailer type. Multi-axle trailers are used in all major application industries. End-users prefer multi-axle trailers, especially due to their unique feature customizable as per the payload requirement. The per axle payload capacity of multi-axle trailers starts from 15 tons. The increase in heavy cargo transportation by road is driving the growth of the multi-axle trailer market.

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“Heavy engineering to be the fastest-growing segment of the Modular Trailer Market, by application”

Heavy engineering is the fastest-growing segment, by the application. This segment includes nuclear power equipment (steam generators, reactor pressure vessels, turbines, generators) and industrial equipment (fire-tube boilers, water-tube boilers). Increasing activities and developments in the nuclear power plant industry lead to more usage of modular trailers for transportation of heavy engineering equipment from manufacturing locations to the installation sites.

The demand for industrial equipment is progressing at a rapid pace, owing to rapid industrialization and urbanization in various countries worldwide. Increasing demand for such equipment would drive the demand for transportation, thereby driving the Modular Trailer Market.

“Asia Pacific is expected to hold the largest market for modular trailers during the forecast period”

The Asia Pacific is estimated to account for the largest share of the market for modular trailers from 2019 to 2027. The Asia Pacific has witnessed growth in the Modular Trailer Market for the past couple of years. The region comprises economies like India, China, and South Korea. High growth in these countries offers new opportunities in the Modular Trailer Market. The increase in the overall industrial production has led to increased freight transportation, fueling the demand for modular trailers in this region. Therefore, Asia Pacific is estimated to be the largest market for modular trailers, particularly for multi-axle trailers.

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Research Insight: https://www.marketsandmarkets.com/ResearchInsight/modular-trailer-market.asp

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This release was published on openPR.