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

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.