Dublin, Jan. 10, 2023 (GLOBE NEWSWIRE) -- The "Automotive Trailer Market By Vehicle Type, By Trailer Type, By Axle Type: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to the report, 'Automotive Trailer Market,' the automotive trailer market was valued at $21.1 billion in 2021, and is estimated to reach $30.8 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031.
The automotive trailer market is driven by expansion of the logistics industry, coupled with increase in cold chain transportation and reduction in cost and extra carriage capacity of trailers. For instance, in October 2020, ATC Trailers launched an ultra-compact, high-output LED system for dry and refrigerated van trailers. However, factors such as high maintenance cost of automotive trailers and surge in environment concerns regarding refrigerated trailer restrain the market growth.
For instance, in November 2021, the government of UK announced its target of a Net Zero economy by 2050, which aims to bring together industry and government to accelerate the transition to a more efficient and lower emission future cold chain.
Key elements of the transition phase include ongoing adoption of emission-free or lower emission alternatives to diesel, improvements to enhance efficiency of Transport Refrigeration Units (TRU) operations and use of lower Global Warming Potential (GWP) refrigerants, with new zero emission technologies taken from trials into full operation. On the contrary, technological advancements in automotive trailers and increase in attention toward trailer platooning are expected to provide lucrative growth opportunities for the market.
In November 2019, Hyundai Motor demonstrated autonomous driving tech capabilities on its two trailer-connected Xcient trucks. The demonstration successfully displayed the vehicle platooning capability, which has the benefit of reducing air resistance to improve fuel efficiency and lower emissions, making it an eco-friendly technology. Furthermore, in July 2022, Cox Automotive acquired Trudell, thus expanding its offering within the medium and heavy-duty fleet parts and service, as well as adding direct parts sales and semi-trailer sales to the Cox Automotive Mobility Fleet Services portfolio. Such developments are expected to fuel the growth of the automotive trailer market during the forecast period.
By vehicle type, the automotive trailer market has been categorized into two-wheeler and bike, passenger car, and commercial vehicle. The commercial vehicle segment accounted for the highest revenue in 2021, owing to high demand for trailers for commercial vehicles globally.
On the basis of trailer type, the automotive trailer market is bifurcated into dry van & box trailers, flatbed, trippers, chemical & liquid refrigerated trailers, and others. The dry van and box segment garnered the highest revenue in 2021, owing to high demand for dry van and box type automotive trailers across several applications globally.
On the basis of axle type, the automotive trailer market is bifurcated into single axle, tandem axle and three or more than three axles. The tandem axle segment garnered the highest revenue in 2021, owing to their suitability for transporting heavier loads at higher speed.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the automotive trailer market analysis from 2021 to 2031 to identify the prevailing automotive trailer market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the automotive trailer market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global automotive trailer market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Vehicle Type
- Two-wheeler and Bike
- Passenger Car
- Commercial Vehicle
By Trailer Type
- Dry Van and Box
- Refrigerator
- Chemical and Liquid
- Tipper
- Flatbed
- Others
By Axle Type
- Single Axle
- Tandem Axle
- Three or More Than Three Axle
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest Of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Bockmann Fahrzeugwerke GmbH
- China International Marine Containers (Group) Co., Ltd.
- Dennison Trailers Ltd
- Great Dane
- Humbaur GmbH
- Hyundai Motor Group
- Ifor Williams Trailers Ltd.
- Schmitz Cargobull Aktiengesellschaft
- Utility Trailer Manufacturing Company
- Wabash National Corporation
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AUTOMOTIVE TRAILER MARKET, BY VEHICLE TYPE
CHAPTER 5: AUTOMOTIVE TRAILER MARKET, BY TRAILER TYPE
CHAPTER 6: AUTOMOTIVE TRAILER MARKET, BY AXLE TYPE
CHAPTER 7: AUTOMOTIVE TRAILER MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/cjxovq
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
