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Automotive Trailer Market to Record 4.5% CAGR Growth Through 2029 | Global Analysis Report
Automotive Trailer Market
Automotive Trailer Market Outlook: How is the Market Expected to Grow by 2025?
In recent times, there has been steady growth in the size of the automotive trailer market. The projected growth is from $24.41 billion in 2024 to $25.19 billion in 2025, with a compound annual growth rate (CAGR) of 3.2%. Factors such as economic growth, burgeoning global trade, compliance with regulations, changing consumer preferences, infrastructure development, and fuel prices have contributed to this growth during the historic period.
Automotive Trailer Market Forecast: What Size Will It Reach By 2029?
The size of the automotive trailer market is predicted to remain on a relatively stable growth trajectory in the upcoming years. By 2029, it is projected to expand to a whopping $30.02 billion, growing at an annual compound rate of 4.5%. Factors such as the prevalence of autonomous vehicles, environmental norms, data analysis and connectivity, urbanization, and the resilience of the supply chain contribute to this growth in the projection period. Key trends expected during this period are advancements in technology, initiatives towards sustainability, innovations in safety, usage of lightweight materials, and the effect of the e-commerce surge.
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Which Key Market Drivers Will Shape Automotive Trailer Industry Trends in 2025-2029?
The automotive trailers market is projected to experience significant growth fueled by the burgeoning logistics industry. Essentially, the logistics sector involves the strategic planning, execution, and oversight of the transfer of products and services from their production source to the consumption point. Considering their critical role in the transportation of various items including machinery, consumer goods, cargo, and more, automotive trailers are an integral part of this industry. In a report by the US Department of Transportation in January 2023, it was noted that the North American trans-border freights saw a 10.6% rise compared to the same period in 2022. The value of truck freight stood at $77.7 billion, marking a 12.7% increase from 2022. As such, the accelerating logistics industry is paving the way for the progression of the automotive trailers market.
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What Are the High-Growth Segments in the Automotive Trailer Market?
The automotive trailer market covered in this report is segmented -
1) By Vehicle Type: Two-wheeler And Bike, Passenger Car, Commercial Vehicle
2) By Axle Type: Single Axle, Tandem Axle, Three Or More Than Three Axle
3) By Trailer Type: Dry Van And Box, Refrigerator, Chemical And Liquid, Tipper, Flatbed, Other Types
4) By Application: Automotive, Transportation, Logistics, Other Applications
Subsegments:
1) By Two-Wheeler And Bike: Motorcycle Trailers, Scooter Trailers
2) By Passenger Car: Car Tow Trailers, Car Camping Trailers
3) By Commercial Vehicle: Heavy-Duty Trailers, Light-Duty Trailers, Flatbed Trailers, Enclosed Trailers
Which Global Trends Are Driving Automotive Trailer Market Expansion?
In the automotive trailers market, the prominence of product innovations is an emerging trend. To maintain their position in the market, major companies in the automotive trailer industry are focusing on product innovation. For example, Lightship RV, a US-based recreational vehicle company, unveiled the Lightship L1 in March 2023. This vehicle is the first of its kind - an aerodynamic, all-electric travel trailer specifically designed for that purpose. The L1 is three times more aerodynamic than a traditional trailer and has a revolutionary power system architecture. This new design amalgamates an automotive electric vehicle battery and powertrain with a domestic-sized solar system. The L1 is capable of storing and utilising solar energy. It can also position itself in a way that minimises the impact on the vehicle's range or MPG when towed. Furthermore, it has the capability to power several all-electic items inside the car.
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Who Are the Fastest-Growing Companies in the Automotive Trailer Industry?
Major companies operating in the automotive trailer market include Bockmann Fahrzeugwerke GmbH, Dennison Trailers Ltd., Humbaur GmbH, Great Dane Trailers Inc., Ifor Williams Trailers Ltd., Wabash National Corp., Utility Trailer Manufacturing Co., Schmitz Cargobull, Fontaine Commercial Trailer Inc., Load Rite Trailers Inc., East Manufacturing Company, Felling trailers Inc., MAC Trailer Enterprises Inc., Fruehauf Trailer Corporation, Deopker Industries Limited, Manac Trailers Inc., Heil Trailer International LLC, Stoughton Trailers, Wilson Trailer Company, Vanguard National Trailer Corporation, Trail King Industries, Pitts Trailers, Reitnouer Inc., Hyundai Translead, Kentucky Trailer, Strick Trailer, Travis Body & Trailer Inc., Doonan Specialized Trailer LLC, Dorsey Trailer, Talbert Manufacturing, Western Trailer, M.H. Eby Inc., Featherlite Trailers, Felling Trailers, Transcraft Corporation, Timpte Inc., XL Specialized Trailers, Kaufman Trailers, Haulmark Industries
What Is the Regional Outlook for the Automotive Trailer Market by 2029?
North America was the largest region in the automotive trailers market in 2024. Asia-Pacific is expected to be the fastest-growing region in the automotive trailer market report during the forecast period. The regions covered in the automotive trailer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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