Semi-Trailer Market to Grow Exponentially Forecast, 2027
Rising fuel prices and strict environment regulations have increased the demand for advanced trailer technologies among fleet owners. Fleet owners are gradually moving towards owning lighter semi-trailers which improve fuel efficiency, reduce operating costs, enhance fleet safety and expand asset connectivity and mobile resource productivity. Owing to a multitude of advantages such as these, advanced trailer technologies including telematics and safety systems have been anticipated to witness a significant demand.
Most of the manufacturers are shifting focus towards advanced chassis systems capable of handling extra weight. Furthermore, the semi-trailer market is also expected to receive a boost due to emission and fuel efficiency regulations in developed regions such as Europe and the U.S.
With the prevailing emission norms, end users are demanding innovative technologies at low prices. This trend is pushing fleet owners to extend the average life of semi-trailers, irrespective of their working condition; hence deferring them from purchasing new equipment. Attributing to these factors, there has been a decline in the demand for replacement. Fleet owners today seek advanced technology and equipment in line with the evolving demand for tractor trailers. Despite this, the freight transport industry and government have their commitment to ease traffic congestion and improve the road conditions for better transportation efficiency; therefore ensuring long term growth of the semi-trailer market.
Over the years, industries such as automotive, retail, construction logistics and trucking and others depend on the semi-trailer segment to transport their logistics. Semi-trailers are widely used in the retail and construction industry for daily transportation of goods and materials. Extensive popularity of the semi-trailer over the full trailer (with front and back axles) can be accredited to its efficient features, i.e. safe, and flexible scale of operations.
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Recently,Finland based Ekeri developed a side opening design for a semi-trailer, which could save 30 minutes on each daily run. Similarly, Germany based Kässbohrer recently launched 18 new models of semi-trailers across four product groups in response to changing trends in the industry and to cater to the specific needs of their customers. Similarly, many manufacturers are innovating their semi-trailers so as to comply with stringent norms and maximize efficiency.
Semi-Trailer Market: Dynamics
There is an increase in demand from industries such as construction, retail, automotive and food & beverage to transport bulk material; which is, in turn, snowballing demand for the semi-trailer market. Based on current trends and anticipating future needs, manufacturers are seeking to reduce weight in semi-trailers. Prominent market players can use this as an opportunity to sustain their position in the semi-trailer market. Furthermore, burgeoning manufacturing activities in developing and developed regions are forecasted to foster the growth of the semi-trailer market in the future. However, pressure on manufacturers to maintain competitive pricing, along with the lack of proper infrastructure in emerging regions have been anticipated to restrain growth of the semi-trailer market.
Semi-Trailer Market: Segmentation
Broadly, the global semi-trailer market can be segmented by type into:
On the basis of tonnage, the global semi-trailer market can be segmented into:
On the basis of number of axles, the global semi-trailer market can be segmented into:
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Semi-Trailer: Market Participants
Examples of some market participants in the global semi-trailer market identified across the value chain include:
Hebei Shunjie etc
Fahrzeugwerk Bernard Krone
Others players include Hyundai Translead, Vanguard National Trailer Corp , Stoughton Trailers LLC, MANAC, Timpte Inc , MAC Trailer Manufacturing, Strick Corporation, Heil Trailer International, Co., Con-way Manufacturing, Polar Tank Trailer, Pitts Enterprises, East Manufacturing Company, Trail King Industries, Doepker Industries, Fontaine Trailer Company and Reitnouer Inc.
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