Wilmington, Delaware, United States, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - A research report by Transparency Market Research (TMR) states that the global semi-trailer market is estimated to reach a value of US$ 41.7 Mn by the end of 2031. Besides, the TMR assessment notes that the market for semi-trailer is expected to develop at a CAGR of 2.6% during the forecast period, from 2022 to 2031.
The need for different types of constructions is being rising in the recent years owing to increase in the global population. Moreover, surge in the industrialization across many developed and developing countries is boosting the expansion of the manufacturing industry. These factors are prognosticated to lead to growth of the size of semi-trailer market during the forecast period, according to researchers at TMR.
Major market players are using organic and inorganic strategies such as mergers and acquisitions in order to maintain their prominent positions. Furthermore, several enterprises are focusing on the adoption of next-gen technologies so as to advance the quality of their products and services. This aside, companies are investing heavily in product innovations in order to launch innovative products. Such efforts, in turn, are expected to help in the overall growth of the global market in the forthcoming years, as per the review by TMR.
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Market Key Findings
- Over the period of past few years, there has been a surge in the volume of international trade across many nations including the U.S., China, Japan, the European Union, India, South Korea, ASEAN countries, GCC countries, and Saudi Arabia. Hence, a rise in the global trade activities is anticipated to fuel the sales growth in the semi-trailers market, notes a TMR study that delivers key insights on the plastic recycling machine manufacturers.
- The government bodies of major emerging economies are focusing on increasing industrialization. Moreover, there have been sizable developments in the agriculture and manufacturing industries of developing nations. These factors have resulted into a surge in the use of road freight transportation globally. This, in turn, is creating lucrative opportunities in the market. This aside, increase in the trend of online shopping is driving the market growth, note analysts at TMR.
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Market Growth Boosters
- Surge in the volume and proportion of trade across the globe is expected to help in the expansion of the semi-trailer market share during the forecast period
- Rise in inclination toward e-tailing and increase in industrialization across many developed and developing nations are boosting the avenues for demand of semi-trailer market
Market Regional Analysis
- The sales analysis of semi-trailer market by TMR notes that players are expected to gain prominent business opportunities in Asia Pacific during the forecast period. The growth of the Asia Pacific market is ascribed to rise in urbanization and the increase in the associated transport volume in the region.
- The market players are foreseen to attract lucrative avenues in North America in the near future owing to the existence of sizable logistics industry and promising road transport industry owing to advanced road connectivity in the region
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Market Key Players
Some of the key players profiled in the report are:
- China International Marine Containers (Group) Ltd.
- ChassisKing, Inc.
- Great Dane
- FAHRZEUGWERK BERNARD KRONE GMBH & CO. KG
- Kögel Trailer GmbH
- HYUNDAI Translead
- Schmitz Cargobull
- LAMBERET SAS
- Shandong Arima group
- Schwarzmüller Group
- Wabash National Corporation
- Shandong Liang Shan Huayu Group
- Dorsey Trailer
- Utility Trailer Manufacturing Company
- Polar Tank
- MANAC INC.
- Fontaine Commercial Trailer, Inc.
Market Segmentation
- Semi-trailer Type
- Refrigerated Trailer
- Flatbed Trailer
- Dump Trailer
- Dry Van
- Curtain Trailer/ Stake Trailers
- Tankers
- Others
- Tonnage
- Below 25 Tons
- Between 25-50 Tons
- Between 50-100 Tons
- Above 100 Tons
- Axle
- Less than 3 Axles
- 3 to 4 Axles
- More than 4 Axles
- End-use Industry
- Heavy Industry
- Construction
- Medical
- Food & Beverage
- Oil & Gas
- Textile Industry
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
About Transparency Market Research
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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