Portland, OR, Nov. 09, 2022 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global automotive trailer market generated $21.1 billion in 2021, and is expected to reach $30.8 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031. The report provides an in-depth analysis of top segments, changing market trends, value chains, key investment pockets, competitive scenarios, and regional landscape. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.
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Automotive Trailer Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $21.1 billion |
| Market Size in 2031 | $30.8 billion |
| CAGR | 3.8% |
| No. of Pages in Report | 245 |
| Segments Covered | Vehicle Type, Trailer Type, Axle Type, and Region |
| Drivers | Expansion of logistics industry |
| Rise in cold chain transportation | |
| Extra carriage capacity of trailers | |
| Opportunities | Technological advancements in automotive trailers |
| Rise in attention toward trailer platooning | |
| Restraints | High maintenance cost of automotive trailers |
| Surge in environment concerns |
Covid-19 scenario:
- The Covid-19 pandemic negatively impacted the market due to commute restrictions and weak financial performance of market players.
- The economic impact of the pandemic hampered the market players. However, some market players witnessed increase in unit sales of trailers. This trend is expected to continue post-pandemic.
The report segments the global automotive trailer market on the basis of vehicle type, trailer type, axle type, and region.
Based on vehicle type, the commercial vehicle segment held the largest share in 2021, accounting for more than four-fifths of the market. However, the two-wheeler and bike segment are estimated to register the highest CAGR of 6.7% during the forecast period.
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On the basis of trailer type, the dry van and box segment dominated the market in terms of revenue in 2021, accounting for around one-third of the market. However, the others segment is estimated to register the highest CAGR of 6.8% from 2021 to 2031.
Based on axle type, the tandem axle segment held the largest share in 2021, accounting for nearly two-fifths of the market. However, the three or more than three axle segment is projected to manifest the highest CAGR of 4.9% during the forecast period.
The global automotive trailer market is analyzed across several regions such as North America, LAMEA, Asia-Pacific, and Europe. The market across Asia-Pacific held the lion’s share in 2021, accounting for more than half of the market. However, the market across LAMEA is expected to register the highest CAGR of 5.9% from 2022 to 2031.
The global automotive trailer market report includes an in-depth analysis of the prime market players such as Böckmann Fahrzeugwerke GmbH, China International Marine Containers (Group) Co., Ltd., Dennison Trailers Ltd., Great Dane, Humbaur GmbH, Hyundai Motor Group (HYUNDAI Translead, Inc.), Ifor Williams Trailers Ltd., Schmitz Cargobull, Utility Trailer Manufacturing Company and Wabash National Corporation.
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The report analyzes these key players in the global automotive trailer market. These players have adopted various strategies such as new product launches, expansion, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of every market player.
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