USD 6.73 billion
Dry Van Trailers Market Size, Share, Growth Analysis, By Type(3-4 axles and >4 axles), By Application(Heavy industry, construction, medical, food and beverages), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20G2010 |
Region:
Global |
Published Date: April, 2024
Pages:
202
|Tables:
65
|Figures:
76
Dry Van Trailers Market Insights
Global Dry Van Trailers Market size was valued at USD 6.73 billion in 2022 and is poised to grow from USD 7.15 billion in 2023 to USD 11.56 billion by 2031, growing at a CAGR of 6.20% during the forecast period (2024-2031).
A dry van trailer is an enclosed container used to transport non-perishable products. There is a lack of temperature control in the dry van so it can be used only for the transportation of the non-perishable products. Dry vans are used to transport vast commodities, freight, and that equipment that do not require refrigeration. A majority of dry vans can tow between 43,000 and 45,000 pounds.
The growing demand for freight shipments is a major factor that promotes market growth. However, the increasing number of fatal crashes in cargo and shipment may also hamper the market growth.
Technology is continuously advancing and processes are always being improved. Other technologies such as automated trucks, efficient electric trucks, and the implementation of advanced Artificial Intelligence technology in the transportation sector is projected to aid in market expansion during the forecast period.
US Dry Van Trailers Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
>4 axles
Fastest Growth
3-4 axles
Growth Rate
6.20% CAGR
Global Dry Van Trailers Market, 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
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Dry Van Trailers Market Segmental Analysis
The global Dry Van Trailers Markett is segmented into type, application, and region. Based on type, the global market is segmented into 3-4 axles, and >4 axles. With respect to application, the global Dry Van Trailers Market is segmented into heavy industry, construction, medical, food and beverages, oil and gas, textile industry, and others.
Dry Van Trailers Market Analysis by Type
On the basis of type, the global market is segmented into 3-4 axles and >4 axles. Among these, the >4 axles segment is expected to dominate the global market during the forecast period. The market for 3-4 axles is expected to grow at the fastest rate of 6.5%. The growth of this segment is attributed to the rising demand for freight transportation with more than 3-4 axles trailers during the forecast period.
Dry Van Trailers Market Analysis by Application
The food and beverages segment are expected to dominate the global market during the forecast period. The growth of this segment is attributed to the increasing demand of non-perishable goods especially during and post the COVID19 pandemic has led to high demand in the heavy industry. Furthermore, dry van maintains the consistency of freshness of huge scale food, thereby augmenting its demand in the food and beverage industry.
The construction segment is expected to grow at the fastest CAGR during the forecast period due to increasing demand for infrastructural development. Moreover, dry vans are used for various supply distribution of construction materials, which further boost the market growth.
Global Dry Van Trailers Market By Type, 2022 (%)
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Dry Van Trailers Market Regional Insights
North America is expected to account for the largest share during the forecast period due to the presence of a majority of the players operating in the United States. The North American Free Trade Agreement (NAFTA), which allows free trade between the US, Canada, and Mexico, would lead to increased fleet operation in this region. Increasing business activities and consumer expenditure on multiple end use products and commodities is further projected to create a push in freight transportation, thereby helping this region continue to generate the largest share in the forecast period.
Asia Pacific is expected to grow at the fastest rate during the forecast period. The growth of this region is attributed to the increasing number of players, and the growing demand for better transportation services in the emerging countries such as China and India.
Global Dry Van Trailers Market By Geography, 2022-2030
- Largest
- Fastest
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Dry Van Trailers Market Dynamics
Dry Van Trailers Market Driver
Increasing Demand in Freight Transportation
- Dry vans are the most commonly used and highly demanded equipment type in the freight shipping sector. These trailers are very common and cause high capacity crunch. The crunch is usually caused by the deficit of free dry van trailer capacity. In the recent years, there was much more capacity available to the shippers due to the rapid growth of the retail sector, but the dry van remains the most in-demand trailer by default. It is thus driving the demand for dry vans trailers in freight transportation.
Dry Van Trailers Market Restraint
Increasing Number of Fatal Accidents due to Size
- Dry van trailers are the most commonly used equipment for the shipments on the road. Hence, there is a chance of accidents due to its large size. This factor may cause hindrance to the overall market growth.
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Dry Van Trailers Market Competitive Landscape
The global dry van trailers market is competitive in nature due to the presence of prominent players. Key players adopted strategies such as mergers, acquisitions, new product launches to strengthen their position in the global market.
Dry Van Trailers Market Top Player's Company Profiles
- Utility Trailer Manufacturing Company
- China International Marine Containers (Group) Ltd.
- Ervin Equipment
- Fontaine Commercial Trailer Inc.
- Wabash National Corporation
- Kogel Trailer GmbH & Co. KG
- Strick Trailers
- Krone Commercial Vehicle Group
- Great Dane LLC
- Lamberet SAS
- HYUNDAI Translead
- Polar Tank Trailer, LLC
- STI HOLDINGS, INC
- Manac
- Schmitz Cargobull
- Trail King
- Utility Trailer Manufacturing Company
- Kentucky Trailer
- Timpte
- Hyundai Translead
- Vanguard National Trailer Corp
Dry Van Trailers Key Market Trends
- Digital freight matching matches a shipper’s need directly, and automatically, with a carrier. Dry van trucking companies are able to use the technology by using the same apps that their customers use so that they can be automatically matched with loads. Digital freight matching has the opportunity to really simplify the whole shipping process and make booking a load as simple as ordering uber. This is projected to serve as a significant industry trend for the global dry van trailers market in the coming years.
Dry Van Trailers Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Dry Van Trailer market analysis, the rapid urbanization, increasing demand for good transport systems, and growing demand for freight shipments are the factors which drive the market growth. Increasing number of fatal crashes due to large size is the factor that hinder the market growth during the forecast period. North America is expected to dominate the global market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 6.73 billion |
| Market size value in 2031 | USD 11.56 billion |
| Growth Rate | 6.20% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Dry Van Trailers Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Dry Van Trailers Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Dry Van Trailers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Dry Van Trailers Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Dry Van Trailers Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Dry Van Trailers Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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