Ottawa, Sept. 12, 2022 (GLOBE NEWSWIRE) -- The rapidly increased market growth of semi-trailer market with new developments and technologies with rapid acceptance of the new technologies proposed in the automotive sector with wide utilization in transportation of goods with larger quantities has helped to boost the semi - trailer market rate to a larger extent. Less carbon emission from the semi - trailers and cost-effective transportation increased the market rate and attention of the consumers accelerated the semi - trailer market.
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Increased government initiative to introduce more semi - trailer with new innovative developments due to less carbon emission foot print. The key market players involved in the semi -trailer market for introducing and manufacturing new products with increased investment in the automotive sector have enhanced the semi-trailer market rate.
Key Takeaways:
- By type, the dry vans segment has contributed 37% market share in 2021
- The dry vans segment is expanding with a CAGR of 4.3% between 2022 to 2030.
- The flatbed trailer segment is reaching at a CAGR of 6.5% between 2022 to 2030.
- Asia Pacific region has generated market share of over 36.4% in 2021.
Regional Snapshots
The geographical sector North America to be the highest region to hold the position with increased revenue share in semi-trailer market with continuously increasing production of the semi-trailers with rising demands from the consumers. North America to be largest region to hold the market with increased revenue share and increased demands from the market for transportation of goods with larger quantities. Increasing fleet operations and increased trade between Mexico, Canada, U.S. Which examined push up market rate with increased transportation during the forecast period.
Asia Pacific region to estimate to grow the market rate with increased construction, increased infrastructure, with the support of investments from the investors driving the semi -trailer market with increased growth.
Increased developments like dam’s air ports, hydro electrics which require extreme transportation services with transport of materials, equipment’s and many more resulted in increasing demands of semi - trailers. Other regions such as Europe, Latin America, Middle East and Africa contributing with increased demands and rising semi-trailer market during the forecast period.
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Scope of the Report
| Report Attributes | Details |
| Market Size in 2021 | USD 32.7 Billion |
| Revenue Forecast by 2030 | USD 51.3 Billion |
| CAGR | 5.13% from 2022 to 2030 |
| Largest Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Year | 2022 to 2030 |
| Key Players | Utility Trailer, Wabash, Schmitz Cargobull, Kogel Trailer GmbH & Co.KG, Krone Commercial Vehicle Group, Great Dane Trailers, Fahrzeugwerk Bernard Krone, Fontaine Commercial Trailer, Inc, and Others. |
Market Dynamics
Drivers
Increased population with increased demands from the consumers with newly developed transport system by road ways introducing semi -trailers constantly striving the rate of market to a larger extent. Dry vans, tankers, refrigerated, low boy, flat bed with increased demands accelerating the market growth. Dry vans are largely growing in market with increased transportation of products with larger quantities have accelerated the semi -trailer market growth.
Fast Moving Consumer Goods with transport of dairy products, meat, fish, fruits, vegetables, products having short shelf life are sold fast with low rates rising the refrigerated semi - trailer market. The key market players involved in introducing new developed semi - trailers and increased investment in automotive sector have risen the market
Restraints
Increased development in trucks and automotive sector with increased availability options for transportation of goods may affect the market growth with decreased demands. Increased fuel as compared to passenger cars. Heavier trucks and pickups than cars. In semi-trailers market do not have many options in the models of the truck. Certain rules and regulations imposed by the government for the semi - trailers with typical road and developed technology. Moreover, as the semi-trailer being large in size it can accommodation of limited number of passengers as far as 5 passengers can sit in the truck,
Opportunities
Emerging countries with newly developed innovations with heavy and strong semi - trailers can be driven on the rough roads with required performance. New technologies with developed embedded systems with increased requirement from the market. Increased research and development for introducing new improved vehicles meant for transportation of goods with larger quantities.
Increased government initiative for launching the semi -trailers with less carbon foot print and cost effective has driven the market to a larger extent. The key market players involved in introducing new semi-trailers and increased research with more investments in automobile industry accelerated the growth of semi-trailer market.
Challenges
Increased road transportation with heavy vehicles and larger quantities of bulk for transporting by semi - trailer increased fuel consumption by the semi - trailer trucks can be challenging task to increase the market rate during the forecast period. Empty semi - trailers require more fuel consumption with high emission of carbondioxide gas may affect the growth of market.
Increased challenges to increase the growth of the semi - trailer market rate with certain rules and regulations imposed due to newly developed technologies and designs. Developed semi - trailers with reduced weight and strong materials can be the challenge for OEMS and fleet operators with decreased cost and less emission of carbondioxide.
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Recent Developments
- Launching of the newly developed services in the month June 2021. Fruehauf and Telematics Leader Novacom collaborated with each other for new introductions.
- Utiizatioin of the good qaulity things and delivering the good quality products to the consumers from the American Trailer Rental Group LLC, a portfolio company of Milton Street Capital with the advantage of trailer leasing Inc.
Market Segmentation
By Type
- Tankers
- Refrigerated
- Dry Van
- Lowboy
- Flatbed
- Others
By Length
- Up to 45 feet
- Above 45 feet
By Tonnage
- Below 25T
- 25T - 50T
- 51T - 100T
- Above 100T
By Axles
- Below 3 axles
- 3 - 4 axles
- 4 axles
By End-Use
- Logistics
- Healthcare
- Oil & gas
- Automotive
- Chemical
- FMCG
- Heavy Industry
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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