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

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.