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

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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