Press release
Population Growth And Increasing Demand Catalysts For Growth In The Trailer Market: Key Factor Driving The Growth In The Trailer Market
Trailer
How Big Is the Trailer Market Size Expected to Be by 2034?
The size of the trailer market has seen robust growth lately. It is predicted to escalate from $63.65 billion in 2024 to $69.8 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 9.7%. The growth observed in the historical period is linked with factors such as the surge in freight transportation, manufacturing and industry growth, infrastructure evolution, expansion in global trade and the integration of supply chains.
Anticipations point towards a robust expansion of the trailer market size in the subsequent years, projecting to reach $96.48 billion by 2029 with a compound annual growth rate (CAGR) of 8.4%. The expected ascension during the forecast period can be credited to elements such as eco-conscious trailers, autonomous and interconnected trailers, safety and collision prevention measures, alternative energy sources, and the emergence of autonomous trucking and sophisticated aerodynamics. Leading trends during this forecast period encompass the incorporation of telematics and connectivity, use of lighter materials, cooled trailers, intelligent trailer technologies, aerodynamic formations, and customizations for specific applications.
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What Are the Emerging Segments Within the Trailer Market?
The trailer market covered in this report is segmented -
1) By Type: Dry Vans, Refrigerated Trailers, Tank Trailers, Flatbed Trailers, Lowboy Trailers, Other Trailers
2) By Axle Type: Single Axle, Tandem Axle, Three Or More Than Three Axle
3) By End-Use: Paper And Paper Products, Pharma Drugs, Textile Products, Food And Groceries, Agriculture And Farm Products, Chemicals, Petroleum And Petroleum Products, Motor Vehicle And Motor Vehicle Parts, Metal And Minerals, Commercial Machinery, Other Products
Subsegments:
1) By Dry Vans: Standard Dry Vans, High Cube Dry Vans
2) By Refrigerated Trailers: Single Temperature Refrigerated Trailers, Multi-Temperature Refrigerated Trailers
3) By Tank Trailers: Liquid Tank Trailers, Gas Tank Trailers, Specialized Tank Trailers
4) By Flatbed Trailers: Standard Flatbeds, Extendable Flatbeds, Drop Deck Flatbeds
5) By Lowboy Trailers: Fixed Gooseneck Lowboys, Removable Gooseneck Lowboys
6) By Other Trailers: Curtain Side Trailers, Car Carriers, Horse Trailers
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What Long-Term Drivers Are Shaping Trailer Market Trends?
As the worldwide population swells, projected to hit roughly 10 billion by 2050, it indirectly spurs growth in the trailer market. The need for food, vehicles, infrastructure, and transportation only escalates with such population booms. As stated by the American Trucking Association, which represents the US trucking industry, about 71% of the country's freight is transported by trucks, a statistic propelled by nationwide population increase. Anticipated population growth is likely to be the main driver bolstering transport demand, particularly in countries like India, Brazil, and those in Africa over the forecast period. Market companies are in turn projected to witness a surge in truck trailer demand, notably from manufacturers of consumer goods such as food, automobiles, clothing during the forecast period.
Who Are the Top Competitors in Key Trailer Market Segments?
Major companies operating in the trailer market include SAIC Hongyan Automotive Co. Ltd., Daimler Truck AG, Doggett Equipment Services Ltd., China International Marine Containers (Group) Ltd., Bernard Krone Holding SE & Co. KG, Wabash National Corporation, MAN SE, Miller Industries Inc., EnTrans International LLC, Schmitz Cargobull AG, Mac Trailer Manufacturing Inc., Heil Trailer International Co., Landoll Corporation, Trail King Industries Inc., Pitts Trailers, Doepker Industries Limited, Humbaur GmbH, Fontaine Trailer Company, East Manufacturing Company, Travis Body & Trailer Inc., Towmaster Trailers, Utility Trailer Manufacturing Company, Felling Trailers, Ledwell, Krone Trailer, Böckmann Fahrzeugwerke GmbH, Ifor Williams Trailers Ltd., Kögel Trailer GmbH & Co. KG, Dennison Trailers Ltd., MANAC INC.
What Trailer Market Trends Are Gaining Traction Across Different Segments?
The trailer industry is progressively adopting automation and sensor technology to enhance the productivity of dump trailers. These technological advancements provide truck drivers with the ability to effortlessly raise and lower the lift axes of dump trailers for seamless loading and unloading procedures. Sensors help decrease overloads on trailers with fixed axles, thus extending tyre lifespan by employing smart algorithms. Both Automation and sensor regulatory systems contribute significantly to cut operational expenses for transport companies. Leading firms in the industry, like East Manufacturing Company, are introducing auto-deployed lift axles and rear suspension dumps in trailers.
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Which Regions Are Becoming Hubs for Trailer Market Innovation?
Asia-Pacific was the largest region in the trailer market of the trailers market in 2024. North America was the second-largest region of the trailer market. The regions covered in the trailer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Trailer Market?
2. What is the CAGR expected in the Trailer Market?
3. What Are the Key Innovations Transforming the Trailer Industry?
4. Which Region Is Leading the Trailer Market?
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