Press release
Automotive Trailer Market Key Trends And Forecast Report 2024-2033
Automotive Trailer Market
Automotive Trailer Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $29.47 billion In 2028 At A CAGR Of 4.4%.
The automotive trailer market size has grown strongly in recent years. It will grow from $23.54 billion in 2023 to $24.77 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to economic growth, global trade expansion, regulatory compliance, consumer preferences, infrastructure development, fuel prices.
The automotive trailer market size is expected to see steady growth in the next few years. It will grow to $29.47 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to autonomous vehicles, environmental regulations, data analytics and connectivity, urbanization trends, supply chain resilience. Major trends in the forecast period include technological advancements, sustainability initiatives, safety innovations, customization and lightweight materials, e-commerce boom impact.
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Automotive Trailer Market Major Segments
The automotive trailer market covered in this report is segmented -
1) By Vehicle Type: Two-wheeler and Bike, Passenger Car, Commercial Vehicle
2) By Axle Type: Single Axle, Tandem Axle, Three or More Than Three Axle
3) By Trailer Type: Dry Van and Box, Refrigerator, Chemical and Liquid, Tipper, Flatbed, Other Types
4) By Application: Automotive, Transportation, Logistics, Other Applications
Key Driver - Expanding Logistics Industry Fuels Growth In The Automotive Trailers Market
The expanding logistics industry is expected to propel the growth of the automotive trailers market going forward. The logistics industry refers to the process of planning, implementing, and controlling the movement of goods and services from the point of origin to the point of consumption. Automotive trailers are an important part of the logistics industry and are widely used in the industry for transporting machinery, cargo, consumer goods, and others. For instance, in 2021, according to the International Transport Forum, a France-based inter-governmental organization of transport industry professionals, the global freight trade increased by 9.8%. Furthermore, in January 2023, according to the US Department of Transportation, a US-based governmental department, the North American trans-border freights increased by 10.6% as compared to January 2022. The truck freight was valued at $77.7 billion, which was an increase of 12.7% as compared to 2022. Therefore, the expanding logistics industry is driving the growth of the automotive trailers market forward.
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Prominent Trend - Lightship Rv Groundbreaking Lightship L1 Redefines The Landscape Of Automotive Trailers
Product innovations are a key trend gaining popularity in the automotive trailers market. Major companies operating in the automotive trailer market are introducing innovative products to sustain their position in the market. For instance, in March 2023, Lightship RV, a US-based recreational vehicle company, launched the Lightship L1, the first purpose-built, aerodynamic, all-electric travel trailer. The L1, which is three times more aerodynamic than a conventional trailer, features a patented power system architecture that essentially integrates an automotive electric vehicle battery and powertrain with a domestic scale solar system. While harvesting and storing clean solar energy, the L1 may move itself such that the vehicle towing it experiences almost no range or MPG loss and can power several all-electric items within the car.
Automotive Trailer Market Players
Major companies operating in the automotive trailer market report are Bockmann Fahrzeugwerke GmbH, Dennison Trailers Ltd., Humbaur GmbH, Great Dane Trailers Inc., Ifor Williams Trailers Ltd., Wabash National Corp., Utility Trailer Manufacturing Co., Schmitz Cargobull, Fontaine Commercial Trailer Inc., Load Rite Trailers Inc., East Manufacturing Company, Felling trailers Inc., Kentucky Trailer Company, MAC Trailer Enterprises Inc., Fruehauf Trailer Corporation, Deopker Industries Limited, Manac Trailers Inc., Heil Trailer International LLC, Stoughton Trailers, Wilson Trailer Company, Vanguard National Trailer Corporation, Trail King Industries, Pitts Trailers, Reitnouer Inc., Hyundai Translead, Kentucky Trailer, Strick Trailer, Travis Body & Trailer Inc., Doonan Specialized Trailer LLC, Dorsey Trailer, Talbert Manufacturing, Western Trailer, M.H. Eby Inc., Featherlite Trailers, Felling Trailers, Transcraft Corporation, Timpte Inc., XL Specialized Trailers, Kaufman Trailers, Haulmark Industries .
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Largest And Fastest Growing Region In The Market
North America was the largest region in the automotive trailers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the automotive trailer market report during the forecast period. The regions covered in the automotive trailer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Trailer Market Report Structure
3. Automotive Trailer Market Trends And Strategies
4. Automotive Trailer Market - Macro Economic Scenario
5. Automotive Trailer Market Size And Growth
…..
27. Automotive Trailer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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