Flatbed Semi-trailer Market

Flatbed Semi-trailer Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030

Flatbed Semi-trailer Market: Introduction

The flatbed semi-trailer consists of a plane metallic or wooden bed fitted over the chassis of the semi-trailer. Moreover, the flatbed semi-trailer is employed for the transportation of heavy equipment and even for the transportation of vehicles for limited distances.
The flatbed semi-trailer market is expanding at a consistent pace for transportation of heavy equipment and machinery across the globe. Expansion of industries and road transportation services is anticipated to further boost the flatbed semi-trailer market.

Key Drivers of Flatbed Semi-trailer Market

Global trade has expanded significantly over the last few years, thereby boosting and transforming the global economy completely. Currently, on a global scale, approximately 1/4th of the total production is exported.
Budding bilateral trade and revised trade policies and customs within countries around the world have led to an increase in trade volume and proportion, which accounts for a major chunk of economic growth across the world
The transition and evolution of global transportation is primarily due to expansion of manufacturing and agriculture industries, which in turn fuels the demand for various semi-trailer trucks including flatbed semi-trailers that are extensively utilized via fleet management in order to transport goods and material from one place (especially port as it have a large port based import and export) to another. These factors are primarily projected to fuel the flatbed semi-trailer market during the forecast period.
High volume of international trade has been witnessed in countries including China, the U.S., the European Union, Japan, South Korea, India, Saudi Arabia, and ASEAN
Rise in industrialization and expansion of manufacturing and agriculture industries in a majority of developing countries around the world have led to extensive usage of road freight transportation
Countries in Asia Pacific continue their transition toward greater economic integration, where expansion of manufacturing, agriculture, electronics, and textile & apparel industries is a prime force in their rapid economic development. Moreover, transportation of heavy equipment, containers, construction material & equipment and vehicles by flatbed semi-trailers is anticipated to propel the demand for flatbed semi-trailer truck, thereby boosting the market for flatbed semi-trailers.

Asia Pacific to dominate global flatbed semi-trailer market

In terms of region, Asia Pacific is anticipated to dominate the global flatbed semi-trailer market owing to heavy industrialization and expansion of cross border road transportation services. Moreover, China is a key manufacturer of the semi-trailers including flatbed semi-trailers.
A notable slowdown in automotive production and sale has been observed along with other parallel industries since 2019. Furthermore, the outbreak of COVID-19 led to the sudden and sharp contraction of the flatbed semi-trailer market. Moreover, disruption in supply chain for the manufacturing of products for a long period of time significantly hindered the industry. Additionally, transportation services were abandoned due to lockdown among most countries and consequently, the market witnessed a significant contraction during first half of the 2020; however, the situation is expected to improve by 2021 and is anticipated to boost the demand for flatbed semi-trailers across the globe.

Key Players Operating in Flatbed Semi-Trailer Market

The global flatbed semi-trailer is well organized; however it comprises a few leading manufacturers. Some key manufacturers operating in the flatbed semi-trailer market are: