Press release
Steady Expansion Forecast for Semi-Trailer Market, Projected to Reach $45.1 Billion by 2029
Semi-Trailer
Semi-Trailer Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The expansion of the semi-trailer market has been vigorous in the past few years, as it is projected to rise from a value of $31.29 billion in 2024 to $33.57 billion in 2025, with a compound annual growth rate (CAGR) of 7.3%. Factors such as the surge in freight transportation needs, infrastructure enhancements, economic progress, the escalation of e-commerce, and global trade augmentation were key contributors to the remarkable growth observed in the historic period.
Semi-Trailer Market Size Forecast: What's the Projected Valuation by 2029?
Anticipated robust expansion is on the horizon for the semi-trailer market in the ensuing years. The market is set to grow to a valuation of $45.1 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 7.7%. Factors contributing to the expected growth during the projected period include sustainable transportation methods, the rise of digitalization in logistics, the implementation of last-mile delivery solutions, infrastructure investment, and autonomous freight transportation. The same period also predicts key trends such as the adoption of advanced technologies, the integration of connectivity and IoT, the emergence of electric and hybrid semi-trailers, increased automation and autonomous functionality, as well as improved safety features.
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What Are the Drivers Transforming the Semi-Trailer Market?
Accelerated urbanization is set to fuel the expansion of the semi-trailer market. Urbanization refers to the growth of urban areas and is characterized by a growing percentage of individuals relocating to these regions. Semi-trailers play a crucial role in transporting goods as well as hauling significant portions of cargo, raw materials, and manufactured products. Consequently, the escalating urbanization amplifies the demand for the semi-trailer market. As an example, the World Bank's data reveals that currently, over 50% of the world's population is residing in urban areas. It is estimated that by 2045, the global urban populace will multiply 1.5 times to reach 6 billion. Therefore, the upward trend in urbanization is setting a positive growth trajectory for the semi-trailers market.
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What Long-Term Trends Will Define the Future of the Semi-Trailer Market?
The escalating requirements for advanced trailer technology is a leading trend in the semi-trailer market. Many chief companies in the semi-trailer market are introducing innovative technologies for trailers to maintain their market standing. For illustration, Ashok Leyland, a significant player from the Indian automobile industry, unveiled AVTR 4220 with 41.5T GCW and AVTR 4420 with 43.5T GCW in the 4×2 tractor segment in July 2022. These two unique tractor-trailers feature a Proven H6 engine 6-cylinder with i-Gen6 technology, GCW possibilities of 41.5T and 43.5T with a compatible 2 axle trailer, enhanced fluid efficiency and decreased DEF usage, and extra cabin options. These trailers were crafted to give companies the capacity to create tailored products to cater to the specific needs of each customer.
Which Segments in the Semi-Trailer Market Offer the Most Profit Potential?
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 Firms Dominate the Semi-Trailer Market by Market Share and Revenue in 2025?
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.
Which Regions Offer the Highest Growth Potential in 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
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