Automotive Trailer Market Size, Share, Growth Analysis, By Vehicle type(Two-wheeler and Bike, Passenger Car, and Commercial Vehicle), By Trailer type(Dry Van and Box, Refrigerator, Chemical and Liquid, Tipper), By Axle type(Single Axle, Tandem Axle, and Three or More Than Three Axle), By Region - Industry Forecast 2024-2031

Global Automotive Trailer Market size was valued at around USD 21.8 billion in 2022 and is expected to rise from USD 22.6 billion in 2023 to reach a value of USD 30 billion by 2031, at a CAGR of 3.6% over the forecast period (2024–2031).

The global automotive trailer market is witnessing growth, primarily driven by the expansion of the logistics industry, a rise in cold chain transportation, cost reduction, and increased carriage capacity. An example of this growth is seen in Lineage Logistics Holding, LLC's strategic facility expansion near the Savannah, Georgia port, providing additional capacity for frozen and refrigerated products in 2021. However, challenges such as high maintenance costs and environmental concerns related to refrigerated trailers hinder market growth.

Automotive trailers, which are unpowered vehicles towed by powered ones using a hitch, play a crucial role in transporting goods and commodities. They are extensively utilized by cargo companies for national and international transfers and also find application in recreational activities like carrying luggage, functioning as fishing boats, or serving as mobile homes with limited amenities.

On the positive side, technological advancements in automotive trailers and the growing interest in trailer platooning offer lucrative opportunities for the market. For instance, Dennison Trailers Ltd. launched a new sliding bogie multi-function trailer capable of carrying two 20' containers with ultimate flexibility in October 2021, allowing it to be split into two independent trailers.

US Automotive Trailer Market is poised to grow at a sustainable CAGR for the next forecast year.