New York, United States , June 27, 2023 (GLOBE NEWSWIRE) -- The Global Modular Trailer Market Size is to grow from USD 8.74 Billion in 2022 to USD 13.69 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.59% during the projected period. The rising adoption of trailers in various applications such as transporting, conveyance, and hauling industries including automotive & transportation, manufacturing, mining & metals, chemical, oil & gas, energy & power, and is expected to boost the demand for the industrial display market during the forecast period.
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A modular trailer, also known as a multi-axle trailer or a hydraulic platform trailer, is a vehicle used for long-distance transportation of large or unusual cargo. A trailer is a group of one-of-a-kind vehicles used to transport heavy and large freight in a number of industries. To generate high-quality items, producers rely on their equipment. This technology is currently transforming the manufacturing business. The modular trailer market is expanding due to expanding end-user sectors such as construction and infrastructure, mining, wind and energy, and heavy engineering. Furthermore, the growing number of infrastructure projects in developing nations contributes significantly to the demand for modular trailers. In addition, heavy engineering is predicted to be a fast-growing segment of the modular trailer industry. Modular trailers transport big engineering equipment such as steam turbines, heating systems, and other stuff. A trailer can also transport already constructed pieces to their final locations and change equipment.
The multi-axle segment is dominating the market with the largest revenue share over the forecast period.
On the basis of trailer type, the global modular trailer market is segmented into the multi-axle, telescopic/extendable, and lowboy trailers. Among these, the multi-axle segment is dominating the market with the largest revenue share of 38.6% over the forecast period. The key driving force for multi-axle trailers is the end-user industry demand for dependability. Because each axle line on a multi-axle trailer may be attached and detached, it can be used for a number of applications. Each axle line's payload capacity starts at 15 tons.
Browse key industry insights spread across 200 pages with 125 Market data tables and figures & charts from the report on "Global Modular Trailer Market Size, Share, and COVID-19 Impact Analysis, By Trailer Type (Multi-Axle, Telescopic/Extendable, and Lowboy Trailer), By Axles (2 Axles and More than 2 Axles), By End-Users (Construction & Infrastructure, Mining, Wind & Energy, Heavy Engineering, Electrical & Off Shore, Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:
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The 2 axles segment is witnessing significant CAGR growth over the forecast period.
On the basis of axles, the global modular trailer market is segmented into 2 axles and more than 2 axles. Among these, the 2 axles segment is witnessing significant CAGR growth over the forecast period. The 2-axle line trailers are available in a variety of sizes and payload capacities. The carrying capacity per axle line ranges from 10 to 1000 tons.
The construction & infrastructure segment accounted for the largest revenue share of more than 34.2% over the forecast period.
On the basis of end-users, the global modular trailer market is segmented into construction & infrastructure, mining, wind & energy, heavy engineering, electrical & offshore, and others. Among these, the construction & infrastructure segment is dominating the market with the largest revenue share of 34.2% over the forecast period. Modular trailers are used to build bridges, large constructions, and roadways. Modular trailers transport enormous bridge segments, massive girders, and concrete beans to construction sites. Furthermore, large-scale restorations and infrastructure investment are expected to skyrocket over the projection period, increasing demand for construction equipment and materials transportation.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 38.7% market share over the forecast period. The Asia Pacific modular trailer market is being pushed by an improved outlook for construction, mining, wind, and energy. The economic growth of countries such as India and China have increased the demand for freight transportation logistics among these countries. On the other hand, North America is predicted to expand the fastest during the forecast period. Increased fleet operations have emerged from the North American Free Trade Agreement (NAFTA), which allows open trade between the United States, Canada, and Mexico. Freight transportation is expected to grow as the company's activities and customer expenditures expand.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Modular Trailer Market include Demarko Trailers, Tratec Engineers, TII Group, Nooteboom Trailers, Goldhofer, Shandong Titan Vehicle, Pacton Trailers B.V., VMT Industries, Doll Fahrzeugbau AG, Faymonville Group, K-Line Trailers, Anster, Talbert Manufacturing, and among others.
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Recent Developments
On April 2023, Faymonville has delivered two low-loader trailers to ZTZ Logistics in the Netherlands. The order included a VarioMAX 3+5 trailer with an extensible excavator deck. ZTZ Logistics recently utilized it to haul a 77-tonne Fundex F3500 foundation rig. A 1+3 GigaMAX lowbed trailer was also added by the company. The front bogie is combined with the gooseneck, lowering the total length of the convoy while improving payload capacity.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Modular Trailer Market based on the below-mentioned segments:
Modular Trailer Market, Trailer Type Analysis
- Multi-Axle
- Telescopic/Extendable
- Lowboy Trailer
Modular Trailer Market, Axles Analysis
- 2 Axles
- More than 2 Axles
Modular Trailer Market, End-Users Analysis
- Construction & Infrastructure
- Mining
- Wind & Energy
- Heavy Engineering
- Electrical & Off Shore
- Others
Modular Trailer Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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