Wilmington, Delaware, United States, June 07, 2022 (GLOBE NEWSWIRE) -- The global agricultural trailer market is estimated to register growth at a CAGR of 6.84% during the forecast period from 2022 to 2031, it is projected to exceed a value of US$ 51.2 billion by 2031 states a research report by Transparency Market Research (TMR).
Government authorities of several nations around the world are taking initiatives to support the rapid adoption of farm mechanization. This factor is expected to impact positively on the market demand for agriculture trailer in the upcoming years. This aside, agricultural trailers are being increasingly utilized in the forestry industry in order to transport different end-products including freshly cut wood. Hence, the market is prognosticated to gain sizable sales prospects from the forestry industry in the forthcoming years.
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Agricultural Trailer Market: Key Findings
- Agricultural trailers are gathering traction in the agriculture sector owing to their ability to provide numerous advantages such as higher dependability, improved speed, and high level of efficiency with lower losses during the transportation of different agricultural produce. This, factor is resulting into increased sales opportunities for the farming community, which in turn, is leading to promising expansion opportunities for players in the agricultural trailer market.
- Key vendors in the agricultural trailer market are concentrating on increasing the production of dump trailers in order to fulfill the current market needs in farm transportation. This aside, enterprises are focusing on developing sturdy marketing strategy for agricultural trailers. Such efforts are estimated to result into promising future of the agricultural trailer market.
- The agricultural trailer market is observing surge in the demand for technologically advanced products. For instance, one of the key trends in the agricultural trailer industry includes a rise in the adoption of connected and smart trailers that provide features such as smart sensors and IoT technologies. Such factors are likely to help in rapid growth of the agricultural trailer market, which is expected to gain a valuation of more than US$ 51.2 Bn by 2031.
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Agricultural Trailer Market: Growth Boosters
- Swift growth in the farm mechanization activities across many developed and developing nations is boosting the demand for agricultural trailers
- Rising number of farm equipment sales are leading to exceptional growth avenues in the global agricultural trailer market
Agricultural Trailer Market: Regional Analysis
- The agricultural trailer market in Asia Pacific is projected to gain sizable sales opportunities during the forecast period owing to a surge in farm mechanization, rise in the demand for agricultural equipment, increase in farm equipment sales, population growth resulting into higher demand for food grains, and shortage of labor in agricultural activities in the region
- The market is estimated to attract lucrative prospects in Latin America and North America owing to a rise in the use of all-terrain vehicles (ATVs) by the regional farmers for surveying farms and carrying out light transportation activities. This aside, agricultural trailers are being connected to recreational vehicles including ATVs in order to transport small farm implements and agricultural produce, notes TMR study on the global agricultural trailer market.
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Agricultural Trailer Market: Key Players
Some of the key players profiled in the report are:
- Bailey Trailers Limited.
- AWACHAT INDUSTRIES LTD.
- Beri Udyog Pvt. Ltd. (Fieldking)
- Behnke Enterprises, Inc.
- ET Agricultural Trailers
- Doepker Industries Limited.
- JPM Trailers
- Hittner tractors
- LOPEZ GARRIDO, S.A.
- LANDFORCE
- The Drake Group
- Richard Western
- Yucheng Zeyi Machinery Co., Ltd.
- Western fabrications
- Zonderland Constructie BV
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Agricultural Trailer Market Segmentation
By Product Type
- Flatbed Trailer
- Grain Wagon
- Dump Trailer
- Sprayer Trailer
- Tipping Trailer
- Non- Tipping Trailer
- Three Way Tipping Trailer
- Other
By Tractor Type
- Utility Tractor Trailer
- Orchard Type Tractor Trailer
- Garden Tractor Trailer
- Row Crop Tractor Trailer
- Others (Compact Tractors)
By Capacity (Ton)
- Less than 2
- 2 to 8
- Above 8
By Tractor Horse power (HP)
- 0-30 HP
- 31-50 HP
- 51-100 HP
- 101-175 HP
- 176-250 HP
- >250 HP
By Axle
- Single Axle
- Double Axle
- Multi Axle
By Application
- Farm
- Forestry
- Others
By Sales Channel
- Direct Channel
- Distribution Channel
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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