Modular Trailer Market – Global Leaders & Geographical Growth

The Modular Trailer Market, by value, is projected to grow to $10.2 billion by 2027 from $7.3 billion in 2019, at a CAGR of 4.3%.

The modular trailer market growth is driven by growing end-user industries such as construction & infrastructure, mining, wind & energy, and heavy engineering.

Some of the key players in the modular trailer market are Goldhofer (Germany), Nooteboom Trailers (Netherlands), Faymonville Group (Italy), TII Group (Germany), and VMT Industries (India), K-Line Trailers (Canada), Tratec Engineers (India), Anster (China), Doll Fahrzeugbau AG (Germany), and Demarko Trailers (Poland).

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Multi-axle trailer is expected to be the largest segment, by trailer type

The major driving factor for multi-axle trailers is the demand from end-user industries. The demand for resource exploration and mining activities in developing countries is rising. Positive economic outlook and expansion of the wind & energy and construction industries are creating opportunities for modular trailer manufacturers.

Multi-axle trailer is estimated to account for the largest market share during the forecast period. It can load over dimension cargo (ODC) by the addition of axle lines as per requirement. As the axle lines can be attached and detached, a multi-axle trailer can be used for various applications. The payload capacity per axle line starts from 15 tons. Also, it offers maximum agility, good stability and manoeuvrability, and safety.

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.

The 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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Modular Trailer Market & Key Application:

Construction & Infrastructure - Modular trailers are used for the construction of bridges, large buildings, and roads. Big bridge segments, large girders, and concrete beans are placed on modular trailers and transported to the construction sites. The construction companies usually have projects located in different areas. Modular trailers help in the transportation of the already built sections to places where they will be installed and at the same time shift materials and equipment from one project to another.

Mining - Mining requires heavy machinery for drilling and transportation of materials, including crude oils and minerals. Such heavy machinery is assembled offsite and then transported to mining sites. As mining machinery is the heaviest cargo, transportation from one point to another challenging. It is not possible to move it with the use of normal trucks and conventional semi-trailers. Therefore, modular trailers are preferred over semi-trailers.

Wind & Energy - Improvements in cost and performance of wind power technologies; yielding low-priced wind energy for utility, corporate, and other power purchasers; expectations for low natural gas prices; and modest electricity demand are the driving factors for the wind & energy industry. To optimize the cost and performance of wind power projects, the average turbine capacity, rotor diameter, and hub height have been increased.

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