Press release
Semi-Trailer Market to Grow at 5.7% CAGR, Reaching $40.85 Billion by 2029
Semi-Trailer
Semi-Trailer Market Outlook: How is the Market Expected to Grow by 2025?
In the past few years, there has been a steady expansion in the semi-trailer market size. A rise from $31.29 billion in 2024 to $32.78 billion in 2025 is expected, signifying a compound annual growth rate (CAGR) of 4.8%. The growth during the historical period is largely due to the surge in freight transportation needs, infrastructure advancement, economic expansion, e-commerce proliferation, and global trade enlargement.
Semi-Trailer Market Forecast: What Size Will It Reach By 2029?
The size of the semi-trailer market is predicted to observe significant increase in the forthcoming years, expanding to $40.85 billion by 2029 with a compound annual growth rate (CAGR) of 5.7%. Factors contributing to this surge during the forecast period include the adoption of sustainable transportation, digital advancements in logistics, end-mile delivery solutions, infrastructure advancements, and self-governing freight transport. Key trends emerging from this period involve cutting-edge technologies, electric and hybrid semi-trailers, incorporation of connectivity and IoT, automation and self-driving traits, and enhanced safety features.
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Which Key Market Drivers Will Shape Semi-Trailer Industry Trends in 2025-2029?
The surge in urban development is anticipated to fuel the expansion of the semi-trailer market. The continuing process of urbanization, wherein an increasing part of the population migrates to urban areas, results in the growth of cities. Semi-trailers contribute to the transport of goods and bear a considerable share of cargo, raw materials, and finalized goods. Consequently, the escalating urbanization heightens the demand for the semi-trailer market. For example, the World Bank reports that currently, more than half of the global population resides in urban locales. By 2045, the urban populace worldwide will augment by 1.5 times to 6 billion. As such, the thriving urbanization is potent in steering the semi-trailer market's growth.
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What Are the High-Growth Segments in the Semi-Trailer Market?
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
Which Global Trends Are Driving Semi-Trailer Market Expansion?
The surge in demand for advanced trailer technology is driving current trends within the semi-trailer market. Key manufacturers within this market are continually innovating and introducing new technologies into their trailers to secure their market share. Case in point, in July 2022, Ashok Leyland, a heavyweight in the Indian automotive industry, debuted its AVTR 4220 with a GCW of 41.5T and AVTR 4420 with a 43.5T GCW in the 4×2 tractor division. These two tractor trailers are distinctive due to their Proven H6 engine 6-cylinder with i-Gen6 technology, GCW options of 41.5T and 43.5T paired with a compatible 2 axle trailer, enhanced fluid efficiency, reduced DEF usage, and extra cabin choices. These trailers have been fashioned to aid businesses in fabricating bespoke products tailored to address each customer's specific requirements.
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Who Are the Fastest-Growing Companies in the Semi-Trailer Industry?
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.
What Is the Regional Outlook for the Semi-Trailer Market by 2029?
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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Americas: +1 310-496-7795,
Asia: +44 7882 955267 & +91 8897263534,
Europe: +44 7882 955267,
Email: saumyas@tbrc.info
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