What is the global market size of Dry Van Trailers Market?

The Dry Van Trailers Market size was valued at USD 6.34 Billion in 2021 and is expected to grow from USD 6.73 Billion in 2022 to reach a value of USD 10.89 Billion by 2030, at a CAGR of 6.20% during the forecast period (2022-2030).

What is the key driver of Global Dry Van Trailers Market?

Dry vans are the most commonly used and highly demanded equipment type in the freight shipping sector. The high demand for dry vans is driven by the capacity crunch caused by their popularity in the retail sector. This demand for dry van trailers in freight transportation is a key driver for the global market.

What is the key market trend for Global Dry Van Trailers Market?

Digital freight matching, which directly matches a shipper’s need with a carrier, is a significant trend in the global dry van trailers market. This technology simplifies the shipping process and is projected to gain traction in the coming years.

Which region accounted for the largest share in Global Dry Van Trailers Market?

North America is expected to account for the largest share during the forecast period due to the presence of major players and increasing business activities. The North American Free Trade Agreement (NAFTA) also contributes to increased fleet operation in this region.

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

Q: Who are the key vendors in the Global Dry Van Trailers Market?

The global dry van trailers market is competitive due to the presence of prominent players. Key players include 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, Kentucky Trailer, Timpte, and Vanguard National Trailer Corp.

Report ID: SQMIG20G2010 | Region: Global | Published Date: April, 2024
Pages: 202 | Tables: 65 | Figures: 76

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.

Dry Van Trailers Market Report Snapshots

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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).

The 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 market. '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 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.

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 dry van trailers market in the coming years.

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.

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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

Dry Van Trailers Market Dynamics

Dry Van Trailers Market Report Snapshots

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FAQs

What is the market size of Dry Van Trailers Market?

Who are the key vendors in the Dry Van Trailers Market?

What is the key driver of Dry Van Trailers Market?

What is the key market trend for Dry Van Trailers Market?

Which region accounted for the largest share in Dry Van Trailers Market?

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