Press release
Growth In The Automotive Industry Fuels Expansion Of Car Carrier Market: Key Factor Driving The Growth In The Car Carrier Market
Car Carrier Market
What Is the Expected Car Carrier Market Size During the Forecast Period?
The car carrier market has shown strong growth in recent years. It will increase from $12.07 billion in 2024 to $12.87 billion in 2025, at a CAGR of 6.7%. The growth is driven by higher demand for last-mile delivery services, rising personal transportation needs, growing e-commerce platforms, increased demand for vehicles, and expanding international trade in the automotive sector.
The car carrier market is set to grow to $16.43 billion by 2029, at a CAGR of 6.3%. This growth is attributed to the preference for fuel-efficient car carriers, a rising automotive industry, global trading activities, changing trade patterns, and a need for environmentally friendly logistics solutions. Trends include the demand for eco-friendly and fuel-efficient transport solutions, adoption of advanced technologies, development of autonomous carriers, customized transport solutions, and the rise of digital platforms.
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What Are the High-Growth Segments in the Car Carrier Market?
The car carrier market covered in this report is segmented -
1) By Type: Open-Air Car Carrier, Enclosed Car Carrier
2) By Material: Steel, Aluminum, Fiber, Plastic
3) By Vehicle Type: Passenger Cars, Sports Utility Vehicles (SUVs), Commercial Vehicles
4) By End-User: Automotive Sales Service Shop 4S, Terminals, Other End-Users
Subsegments:
1) By Open-Air Car Carrier: Single-Level Open-Air Car Carrier, Multi-Level Open-Air Car Carrier, Large Capacity Open-Air Car Carrier
2) By Enclosed Car Carrier: Standard Enclosed Car Carrier, Luxury Or High-End Enclosed Car Carrier, Customizable Enclosed Car Carrier, Climate-Controlled Enclosed Car Carrier
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What Key Drivers Are Expected to Influence Future Car Carrier Market Growth?
The growth of the automotive industry is expected to boost the car carrier market. The automotive industry is expanding due to factors like economic growth, consumer demand, and infrastructure development. Car carriers are used for transporting vehicles over long distances. Statistics Canada reported in June 2024 that the number of registered vehicles in Canada increased by 0.3% in 2022. Therefore, the rise of the automotive industry is contributing to the car carrier market's growth.
Which Companies Hold the Largest Share Across Different Car Carrier Market Segments?
Major companies operating in the car carrier market are Miller Industries Inc., Featherlite Trailers, Big Tex Trailers, PJ Trailers, Cottrell Trailer, Kässbohrer Transport Technik GmbH, Load Trail LLC, Bravo Trailers LLC, ATC Trailers, Haulmark Trailers, H&H Trailers, Sundowner Trailers, Aluma, Cargo-Mate Trailers, Jerr-Dan carriers, Boydstun, T and E Auto Haulers, CIMC Vehicles (Group) Co. Ltd., Sure-Trac Trailers, Appalachian Trailers, Wally-Mo Inc.
What Trends Are Driving Growth in The Car Carrier Market?
Companies in the car carrier market are focusing on LNG battery hybrid car carriers to gain a competitive edge. In January 2022, United European Car Carriers (UECC), a Norway-based maritime transportation company, introduced an LNG battery hybrid car carrier. This environmentally friendly ship features dual-fuel LNG and battery hybrid propulsion technology, which reduces the environmental impact of car transport operations and can carry up to 3,600 vehicles.
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What Are the Emerging Geographies for The Car Carrier Market Growth?
North America was the largest region in the car carrier market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the car carrier 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 Car Carrier Market?
2. What is the CAGR expected in the Car Carrier Market?
3. What Are the Key Innovations Transforming the Car Carrier Industry?
4. Which Region Is Leading the Car Carrier Market?
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