Semi-trailer Trucks Market Size & Growth Analysis to 2030

The global semi-trailer market size is anticipated to register a prominent CAGR of around 6% during the forecast period 2021 to 2027. The increasing need for effective transportation and growing manufacturing activities around the globe are some major factors to drive the market growth. The rapid growth in urbanization and the expanding road network in the rural area are further expected to boost the market. Moreover, the increasing demand for cold chain goods such as vegetables, fruits, dairy products, and poultry products is anticipated to boost the market over the forecast period. In addition, the increasing disposable income coupled with the increasing expenditure on fresh and organic products and the increasing number of quick-service restaurants is expected to boost the cold chain industry.

Market Drivers:

Growing demand for efficient freight transportation: The demand for efficient freight transportation is a major driving factor for the semi-trailer trucks market. Semi-trailer trucks are widely used for long-haul transportation of goods, offering high load-carrying capacity and fuel efficiency. With the expansion of global trade and e-commerce, there is an increasing need for reliable and cost-effective transportation solutions, driving the demand for semi-trailer trucks.

Expansion of the logistics and transportation industry: The growth of the logistics and transportation industry directly impacts the demand for semi-trailer trucks. As businesses expand their distribution networks, they require a reliable fleet of trucks to transport goods over long distances. The rise of e-commerce platforms and the need for last-mile deliveries further contribute to the demand for semi-trailer trucks in the logistics industry.

Infrastructure development and road network expansion: Infrastructure development, including the construction of highways, expressways, and transportation corridors, drives the demand for semi-trailer trucks. Improved road networks facilitate the movement of goods and increase the efficiency of transportation operations. As infrastructure projects progress in various regions, the demand for semi-trailer trucks is expected to rise to support the transportation of goods.

Regulatory initiatives for road safety and emissions control: Government regulations aimed at improving road safety and reducing emissions play a significant role in shaping the semi-trailer trucks market. Regulations such as emission standards, vehicle weight restrictions, and safety requirements influence the design and manufacturing of semi-trailer trucks. The industry’s focus on developing more fuel-efficient and environmentally friendly trucks aligns with these regulations, driving innovation and market growth.

Advancements in truck technology: Technological advancements in the trucking industry, including improved engine efficiency, enhanced aerodynamics, and driver assistance systems, contribute to the growth of the semi-trailer trucks market. These advancements result in increased fuel efficiency, reduced emissions, and improved safety, making semi-trailer trucks more attractive to fleet operators and trucking companies.

Replacement and fleet modernization: The need for fleet replacement and modernization is another driving factor for the semi-trailer trucks market. As older trucks reach the end of their operational life or become outdated, fleet operators and trucking companies invest in new semi-trailer trucks with advanced features, improved reliability, and lower maintenance costs. The desire to enhance operational efficiency and comply with new regulations drives the replacement and modernization of truck fleets.

Economic growth and industrial activities: Economic growth and increased industrial activities contribute to the demand for semi-trailer trucks. As industries expand their operations and production capacity, there is a corresponding need for efficient transportation of raw materials and finished goods. Industries such as manufacturing, construction, agriculture, and retail heavily rely on semi-trailer trucks for their supply chain and logistics operations.

International trade and globalization: The growth of international trade and globalization has a significant impact on the semi-trailer trucks market. Cross-border transportation of goods requires reliable and efficient transportation solutions, and semi-trailer trucks play a vital role in facilitating international trade. The expansion of global supply chains and the need for seamless movement of goods between countries drive the demand for semi-trailer trucks.

Market Outlook:

Market Insights:

The global semi-trailer market is bifurcated into type, end-use, and geography. On the basis of type, the market is further segmented into flatbed trailers, dry vans, refrigerated trailers, and others. The dry vans segment dominated the global market and accounted to hold the largest market share of over one-third of the market in terms of revenue. On the other hand, the flatbed trailers segment is expected to grow at a significant growth rate over the forecast period due to the increasing construction activities in both developed and developing economies. In contrast, the rapid growth in the cold chain industry is anticipated to fuel the Refrigerated Trailers segment over the forecast period.

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The Semi-trailer comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

Global Semi-trailer market size and forecast were obtained by using “Bottom-up” and “Top-down” approaches. Extensive secondary research was conducted to understand the market insights and trends, followed by primary interviews to further validate the information sourced. The report provides both, qualitative and quantitative analyses of the market, the competitive landscape, and the preferred development strategies of key players which help to formulate competitive market strategies and make informed decisions.

The Semi-trailer market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Type:

• Flat Bed Trailer
• Dry Vans
• Refrigerated Trailers
• Lowboy Trailers
• Tankers
• Others

By End-Use:

• Heavy Industry
• FMCG
• Chemical
• Automotive
• Oil & Gas
• Healthcare
• Logistics,
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

Geographically, the Asia Pacific dominated the global semi-trailers market in 2020 and accounted to hold the largest market share of over one-third percent of the market in terms of revenue. The rapid growth in supply chain and logistics networks in developing economies such as China and India is a prominent factor driving the market in the region. Moreover, the rising e-commerce industry due to the increasing consumer preference towards online shopping is expected to boost the market growth in the Asia Pacific. North America is accounted to grow at a significant growth rate over the forecast period due to the increasing transportation and logistics industry in the region.

Market Competition Assessment:

Some of the major players operating in the global Semi-trailer market are China International Marine Containers, Wabash National, Schmitz Cargobull AG, Great Dane, and Kogel Trailer GmbH & Co.KG. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• China International Marine Containers
• Wabash National
• Schmitz Cargobull AG
• Great Dane
• Kogel Trailer GmbH & Co.KG
• Krone Commercial Vehicle Group
• Fontaine Commercial Trailer, Inc.
• Polar Tank Trailer, LLC
• Utility Trailer Manufacturing Company
• Fahrzeugwerk Bernard Krone

Key Questions Answered by Semi-trailer Market Report

• Global Semi-trailer market forecasts from 2021-2027
• Regional Semi-trailer market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
• Semi-trailer submarket forecasts from 2021-2027 covering the market by type, by end-use, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis pertaining to Semi-trailer market
• Analysis of the key factors driving and restraining the growth of the global, regional and country-level Semi-trailer markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the Semi-trailer market