USD 32.9 billion
Semi Trailer Market Size, Share, Growth Analysis, By Semi-trailer type(Refrigerated trailer, flatbed trailer, dump trailer, dry van), By Tonnage(Below 25 Tons, between 25-50 Tons, between 50-100 Tons, above 100 Tons), By Axle(Less than 3 axles, 3 to 4 axles, more than 4 axles), By length(Up to 45 feet and above 45 feet), By End use industry(Heavy industry, construction, medical, food & beverages), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20H2016 |
Region:
Global |
Published Date: April, 2024
Pages:
202
|Tables:
151
|Figures:
78
Semi Trailer Market Insights
Global Semi-Trailer Market size was valued at USD 32.9 billion in 2022 and is expected to rise from USD 34.74 billion in 2023 to reach a value of USD 53.72 billion by the end of 2031, at a CAGR of 5.60% during the forecast period (2024-2031).
The growth of the market is attributed to growing urbanization, rising manufacturing activities, and the need for effective transportation. In addition, the growth of the end use industries coupled with the expanding cold industry is increasing the demand for semi -trailers. Manufacturers offer Custom-built semi-trailer to full-fill the consumer demand, and this factor is anticipated to create significant growth opportunities for the global semi-trailer market in the coming years.
A significant factor boosting the growth of this market is the rise in demand from end use industries such as the logistics sector for the transportation of goods. Road transportation is the most utilized mode of transportation as it offers better cost advantages over other modes. Hence, with the improved road infrastructure, the demand for road transport has increased, subsequently benefiting the semi-trailer market.
The demand for fuel efficient vehicles has increased so that manufacturers invest more on enhancing the semi-trailer designs. Moreover, increasing demand for packaged food is contributing to the market growth. Adoption of semi-trailer is increasing as it provides benefits with respect to efficiency and productivity.
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Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Dry Van
Fastest Growth
Growth Rate
5.60% CAGR
Global Semi Trailer Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Semi Trailer Market Segmental Analysis
Semi Trailer Market is segmented into semi-trailer type, tonnage, axle, length, end use industry. In terms of segmentation by semi-trailer type, the global Semi Trailer Market is segmented into refrigerated trailer, flatbed trailer, dump trailer, dry van, curtain trailer/stake trailers, tankers, and others. With respect to tonnage, the global Semi Trailer Market is segmented into, below 25 Tons, between 25-50 Tons, between 50-100 Tons, above 100 Tons. Based on classification by axle, the Semi Trailer Market is segmented into less than 3 axles, 3 to 4 axles, and more than 4 axles. The length segment is further sub-segmented into up to 45 feet and above 45 feet. Based on end use industry, the global Semi Trailer Market is segmented into heavy industry, construction, medical, food & beverages, oil & gas, textile industry, and others.
Semi Trailer Market Analysis by Semi-trailer Type
Dry van segment is expected to dominate the global semi-trailer market and accounted for the largest share. Dry vans are generally used to transport freight that require a nominal protection against road and climate conditions. These trailers are cost-effective and versatile so used by the full truckload (FTL) and less than truckload (LTL) fleet operators for their operations.
Flatbed trailer segment is expected to capture a sizable volume share during the forecast period. In developed and emerging economics, construction industries are growing rapidly that help to fuel the segment growth. Flatbed trailers are used to transport heavy cargo, such as heavy machinery, construction materials, and equipment.
Semi Trailer Market Analysis by Tonnage
The below 25 Tonnage segment is expected to dominate the global semi-trailer market during the forecast period as most semi-trailers used for transportation such as dry vans, refrigerated semi-trailers, and tankers come under this category. Below 25 Tonnage semi-trailers are highly used due to lower cost of transportation and considerable amount of freight. In addition, below 25 Tonnage categories complies with legally permissible limits across most countries.
Global Semi Trailer Market By Trailer Type
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Semi Trailer Market Regional Insights
Asia Pacific is expected to emerge as the largest market and further expected to register the fastest growth during the forecast period with significant revenue generation from emerging economies such as India and China, which comprise large supply chains and logistics networks. Moreover, the growing e-commerce industry in this region is anticipated to propel the demand for dry vans trailers in the coming years.
North America is expected to account for the second largest revenue share during the forecast period. This regional market is currently in the replacement phase with an aging fleet that needs to be replaced with technologically advanced semi-trailers. In addition, the growth of this regional market is attributed to the busy road infrastructure network and the growing transportation and logistics industry in the U.S. and Canada. Moreover, relaxation in government regulations regarding weight carrying capacity and dimensions of the semi-trailer leads to increased demand for lightweight transport vehicles, thereby driving the market demand. For instance, the California Air Resources Board (CARB) mandated the installation of “SmartWay”, a verified aerodynamic technology to improve fuel efficiency in tractors and semi-trailers.
Global Semi Trailer Market By Region
- Largest
- Fastest
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Semi Trailer Market Dynamics
Semi Trailer Market Driver
Growth in End Use Industries such as FMCG
- Fast Moving Consumer Goods (FMCG) is one of the largest industries in the world in terms of revenue generation. Perishable products such as meat, dairy products, fruits and vegetables, and baked goods have short shelf life and these products have high consumer demand. The FMCG industry is segmented into personal care and food & beverage industries. The growth of the FMCG industry is attributed to rising income, increasing population, brand consciousness, favourable policies, and digitalization of the purchasing process. In the FMCG sector, along with the changes in consumer demand, there has been shifts in the logistics of FMCG products. All this supports the growth of the technologically advanced semi-trailer in the FMCG industry.
Semi Trailer Market Restraint
Availability of Alternatives for transportation
- The rise in development in the trucks and automotive sector increases the availability options for transportation of goods that may hamper the market in the forecast period. In addition, the semi-trailer market does not have many options in the models of the truck and the government imposed certain rules and regulations for the semi-trailers that may also create a challenging environment for the market to flourish in the coming years.
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Semi Trailer Market Competitive Landscape
The global semi-trailer market is highly fragmented due to the presence of several global and regional players. Key players increased their focus on product launches and expansions to strengthen their position in the global market. In addition, there is an increasing trend towards the collaboration among component suppliers and OEMs in order to ensure a consistent supply of inventory.
Semi Trailer Market Top Player's Company Profiles
- Wabash National Corporation
- Great Dane Trailers
- Hyundai Translead
- Utility Trailer Manufacturing Company
- Schmitz Cargobull AG
- Kögel Trailer GmbH & Co. KG
- CIMC Vehicles Group Co., Ltd.
- Sinotruk (Hong Kong) Limited
- Kässbohrer Fahrzeugwerke GmbH
- Vanguard National Trailer Corporation
- Stoughton Trailers, LLC
- Trail King Industries, Inc.
- Fontaine Trailer Company, Inc.
- MAC Trailer Manufacturing, Inc.
- Heil Trailer International
- East Manufacturing Corporation
- Doepker Industries Ltd.
- Manac Inc.
- Wilson Trailer Company
- Reitnouer, Inc.
Semi Trailer Market Recent Developments
- In March 2024, aftermarket heavy-duty truck parts distributor FleetPride acquired the assets of Sioux Falls, SD-based Wheelco Truck & Trailer Parts and Service to add density to existing markets.
- In December 2023, Boxwheel Trailer Leasing, a leading provider of semi trailer rentals, leases and sales with physical rental locations in Denver, El Paso, TX, Phoenix, AZ, Reno, NV, and Salt Lake City, UT, announced the asset acquisition of Twin Bridges Enterprises located in Detroit, MI.
- In October 2023, The first Mercedes-Benz eActros 300 semi trailer tractor in Germany was delivered to Logistik Smith.
Semi Trailer Key Market Trends
- Automobile industry undergoes technological advances such as witnessing the vehicle conversion from gas engine to an electrical one. In the coming years, electric semi-trailers offer an opportunity for the original equipment manufacturers and semi-trailer. Perseverance and innovation have resulted in the development of electric semi-trailers.
Semi Trailer 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 semi-trailer market analysis, rapid urbanization, increasing demand for good transport services, increasing end use industries such as FMCG, adoption of advanced technologies are the factors which boost the market growth. But the presence of the transportation alternatives hindered the market growth. In addition, the collaboration among component suppliers and OEMs is the factor which helps to drive the market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 32.9 billion |
| Market size value in 2031 | USD 53.72 billion |
| Growth Rate | 5.60% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| 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 Semi Trailer 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 Semi Trailer 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 Semi Trailer 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 Semi Trailer 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 Semi Trailer Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Semi Trailer 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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