Semi-Trailer Market - Global Forecast to 2025

The global Semi-Trailer Market is estimated to be $29.5 billion in 2020 and is projected to reach $41.2 billion by 2025, growing at a CAGR of 5.6% from 2020 to 2025.

Asia Pacific is estimated to show the highest CAGR growth in the semi-trailer market. The industrial expansion in emerging economies, such as India and China, coupled with infrastructural development has led to the increased demand for freight transportation in this region.

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 an 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 recorders 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.

Implementation of advanced technologies in the logistics industry such as RFIDs, fleet management systems, and delivery process automation has improved the overall efficiency of the sector. One of the growing market trends in the use of advanced technologies such as telematics and stability control.

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The semi-trailer market is dominated by global players such as China International Marine Containers (China), Wabash National (US), Schmitz Cargobull AG (Germany), Utility Trailer Manufacturing Company (US), and Fahrzeugwerk Bernard Krone (Germany).

Opportunity: Semi-trailer platooning

Semi-trailer platooning would transform the transportation industry significantly in the coming years. Semi-trailer platooning is connecting two or more semi-trailers in a convoy using connectivity technologies and driving support systems to establish a platoon of semi-trailers. The semi-trailer in the front acts as a leader and the other semi-trailers react and adapt to the changes by the leader semi-trailer. With the help of platooning, semi-trailers are driven closer together at a constant speed, which helps reduce fuel consumption and CO2 emissions. If the leader semi-trailer’s collision avoidance system activates its brakes, the following semi-trailers will do the same. Recognizing the benefits, the vehicle industry and startups have been active in platooning to date, with the likes of Daimler, Volvo, MAN, and Scania deploying on-road prototypes. Right up until 2019, the appetite for platooning seemed strong following successful real-world trials with MAN in partnership with DB Schenker and Fresenius University of Applied Sciences in Germany. This trial concluded that platooning is not only possible but safe and technically and easily applicable in the routine of a logistics company. Successful commercialization of truck platooning will also open the door for the development of semi-trailer platooning technologies. Semi-trailers are clunky monsters that have the worst wind resistance among the vehicle family. Innovations have resulted in a reduction of aerodynamics impact by adding various fuel-saving devices such as front faring, side skirting, and gap filling. This has helped cut down the aerodynamic drag up to around 26%. With semi-trailer platooning, the improvement of aerodynamics can go even further—a semi-trailer truck that follows the lead vehicle at the desired distance can consume up to 15% less fuel. With the development of autonomous vehicle technologies, semi-trailer trucks can be self-driven, which can create a fantastic opportunity for semi-trailer platooning in the future.

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