Press release
Leading Element Driving Change in the Semi-Trailer Market in 2025: The Impact Of Urbanization On The Semi-Trailer Market Driver
Semi-Trailer Market
The escalation in urban development is set to stimulate the growth of the semi-trailer market. This progression encompasses the growth of cities, with an increasing share of the population opting to reside in urban areas. Semi-trailers play a crucial role in the movement of goods and the conveyance of a significant amount of cargo, commodities, and completed products. Consequently, the uptick in urban development boosts the need for the semi-trailer market. For example, data from the World Bank reveals that over 50% of the worldwide populace currently reside in urban areas. By 2045, it is projected that urban inhabitants worldwide will surge 1.5 times to reach 6 billion. Hence, the surge in urbanization is a key driver for the semi-trailer market.
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What is the projected compound annual growth rate (CAGR) of the semi-trailer market from 2025 to 2034, and what factors influence it?
In recent times, the semi-trailer market has seen robust growth. It is projected to increase from a value of $31.29 billion in 2024 to $33.57 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.3%. Factors such as the demand for freight transportation, infrastructure development, economic expansion, the rise of e-commerce, and the growth of global trade have contributed to the surge in the historic period.
In the coming years, the semi-trailer market is projected to experience robust growth, reaching a market size of $45.1 billion by 2029 with a compound annual growth rate (CAGR) of 7.7%. This growth during the forecast period is attributed to factors such as sustainable transport, advancements in logistics digitalization, the implementation of last-mile delivery solutions, investment in infrastructure, and the advent of autonomous freight transportation. The forecast period is also expected to see major trends such as the introduction of advanced technologies, the emergence of electric and hybrid semi-trailers, the integration of connectivity and IoT, the addition of automation and autonomous features, and the installation of advanced safety features.
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How are the latest trends influencing the growth of the semi-trailer market?
The surge in demand for advancements in trailer technology is defining the current trend in the semi-trailer market. To stay competitive, prominent firms in this market are developing innovative trailer technology. Take Ashok Leyland as an example, an automotive company from India. In July 2022, they introduced two products: the AVTR 4220 with a 41.5T GCW and the AVTR 4420 holding a 43.5T GCW in the 4×2 tractor category. Both tractor trailers have unique features such as a Proven H6 engine 6-cylinder engine equipped with i-Gen6 technology, GCW options of 41.5T and 43.5T in combination with a compatible 2 axle trailer, enhanced fluid efficiency, minimized DEF use, and additional cabin choices. These trailers are intended to give businesses the ability to make products tailored specifically to the individual needs of each customer.
What are the major segments of the semi-trailer market and their role in driving growth?
The semi-trailer market covered in this report is segmented -
1) By Type: Flatbed, Lowboy, Dry Van, Refrigerated, Tankers, Other Types
2) By Length: Up To 45 Feet, Above 45 Feet
3) By End-Use: Heavy Industry, FMCG, Chemical, Automotive, Oil And Gas, Healthcare, Logistics, Other End-Users
Subsegments:
1) By Flatbed: Standard Flatbed, Step Deck Flatbed, Double Drop Flatbed
2) By Lowboy: Fixed Neck Lowboy, Removable Gooseneck (RGN) Lowboy
3) By Dry Van: Standard Dry Van, High Cube Dry Van
4) By Refrigerated: Single Temperature Refrigerated, Multi-Temperature Refrigerated
5) By Tankers: Liquid Tankers, Gas Tankers, Dry Bulk Tankers
6) By Other Types: Car Haulers, Specialty Trailers, Container Chassis
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Which regions are key players in the growth of the semi-trailer market?
North America was the largest region in the semi-trailer market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the semi-trailer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the semi-trailer market?
Major companies operating in the semi-trailer market include Wabash National Corporation, Schmitz Cargobull AG, Great Dane LLC, Krone GmbH & Co KG, Kogel Trailer GmbH & Co. KG, Utility Trailer Manufacturing Company, Hyundai Motor Company, Stoughton Trailers LLC, Vanguard National Trailer Corporation, MAC Trailer Manufacturing, Manac Inc., East Manufacturing Corporation, Fontaine Trailer Company, Wilson Trailer Company, Doonan Specialized Trailer LLC, Pitts Enterprises Inc., Strick Trailers LLC, Reitnouer Inc., Heil Trailer International LLC, Transcraft Corporation, Trail King Industries Inc., Travis Body & Trailer Inc., Talbert Manufacturing Inc., Timpte Inc., XL Specialized Trailers LLC, Dorsey Trailer LLC, Witzco Challenger Trailers Inc., Lode King Industries Ltd., Muv-All Trailer Company, Trail-Eze Inc.
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What Is Covered In The Semi-Trailer Global Market Report?
•Market Size Forecast: Examine the semi-trailer market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the semi-trailer market for a structured understanding.
•Key Players Overview: Analyze major players in the semi-trailer market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the semi-trailer market.
•Segment Contributions: Evaluate how different segments drive overall growth in the semi-trailer market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the semi-trailer market.
•Industry Challenges: Identify potential risks and obstacles affecting the semi-trailer market.
•Competitive Landscape: Review strategic developments in the semi-trailer market, including expansions, agreements, and new product launches.
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