The global semi-trailer market is expected to surpass US$ 24 Bn by 2026, expanding at a CAGR of more than 3% during the forecast period. The market for semi-trailer is anticipated to expand at a significant growth rate during the forecast period, owing to the expansion of industries and improving road infrastructure.
The semi-trailer market is primarily driven by rising global population, which in turn has considerably boosted the demand for consumer goods, thus significant expansion of agriculture and manufacturing industries fueled the demand for semi-trailers. Moreover, improvement in road connectivity is propelling the market for semi-trailer. Cost-effectiveness of transportation by semi-trailers is a key factor driving the semi-trailer market, owing to the high cargo-carrying capacity of the vehicle. Emphasis by governments to improve road connectivity is likely to drive the semi-trailer market during the forecast period. High investment for developing road connectivity in the U.S. after the Second World War led to the development of a significantly large road transportation and semi-trailer market. Low speed of the semi-trailer and presence of smaller roads and sharp turns on roads are major factors restraining the semi-trailer market, due to the large size and large turning radius of a semi-trailer, while trucks with integrated trailers possess better handling. Massive backlog in proper maintenance of roads is also a major factor that is likely to hinder the demand for road freight transportation during the forecast period. Furthermore, toll roads or booths lead to considerable time loss, which results in slow transportation of freight. Poor road infrastructure coupled with a lack of intent to improve transport facilities is expected to restrain the demand for road freight transportation and consequently, hamper the semi-trailer market during the forecast period.
The global semi-trailer market has been segmented based on semi-trailer type, tonnage, axle, end-use industry, and region. In terms of the semi-trailer type, the dry van segment dominated the global semi-trailer market owing to its extensive utilization in countries that witness significant demand for semi-trailer, such as the U.S., Mexico, and Canada. Numerous advantages of dry vans over the other trailer type segments made them a highly popular segment as it is one of the best semi-trailers to protect the product from bad weather and theft. Curtain trailers and stake trailers are the other highly attractive semi-trailer types owing to their cost effectiveness and the high efficiency of loading and unloading of cargo in curtain semi-trailers due to access through side walls for loading and unloading.
In terms of tonnage, 25 to 50 ton is a highly attractive segment owing to the adequate capacity of these trailers to carry freight or cargo. Moreover, semi-trailer of this category have 3 or 4 axles, which in turn make 3 to 4 axles a highly attractive segment, in terms of axle, of the global semi-trailer market. Furthermore, the market for semi-trailers with more than 4 axles is likely to increase gradually during the forecast period due to their higher efficiency and strength as compared to semi-trailers with 1 or 2 axles.
In terms of end-use industry, the heavy industry segment is expected to lead the global market during the forecast period, as this segment includes mining, steel, chemical, and manufacturing industries, which require a considerable number of semi-trailers. Construction and food & beverage the other two leading segments owing to the utilization of a large number of semi-trailers for the transport of construction materials and equipment. The food & beverage industry has been expanding notably due to the rising demand for packaged food across the globe. For instance, the U.K. is a leading consumer of packaged food, as it consumes almost four times more packaged food as compared to fresh produced food. Across the globe, the U.S., Germany, the U.K., and China are major exporters of food products and contributed significantly to the food & beverage industry segment of the semi-trailer market in the respective countries.
In terms of region, North America held a prominent share of the global market, followed by Asia Pacific, in 2017. The U.S. has a prominent trucking industry coupled with good road infrastructure and connectivity among all states, which led North America to hold a major share of the global semi-trailer market. China accounts for a major share of the market in Asia Pacific due to large production of industries, and the country requires a large trucking industry for the transportation of the cargo, as it is a notable exporter globally. The semi-trailer market is expected to expand at higher pace during the forecast period in countries with better road connectivity and business opportunities.
Major players operating in the global semi-trailer market are China International Marine Containers (Group) Ltd., FAHRZEUGWERK BERNARD KRONE GMBH & CO. KG, Great Dane, HYUNDAI Translead, Kögel Trailer GmbH, Chassis King, Inc., LAMBERET SAS, Schmitz Cargobull, Schwarzmüller Group, Shandong Arima group, Shandong Liang Shan Huayu Group, Wabash National Corporation., Utility Trailer Manufacturing Company, Dorsey Trailer, MANAC INC., Polar Tank, and Fontaine Commercial Trailer, Inc. China International Marine Containers (Group) Ltd and Schmitz Cargobull are major manufacturers of semi-trailers, which contributed to the prominent share held by these companies in the global semi-trailer market.
Semi-trailer Market - Overview
The semi-trailer market has been forecasted for the period 2018 to 2026, based on value (US$ Mn) and volume (units). This report provides forecast and analysis of the semi-trailer market at regional and global levels. The study highlights the drivers and restraints influencing the market. The report also highlights the opportunities in the semi-trailer market and underlines the technological roadmap for understanding the market.
The report contains value chain analysis, which provides a comprehensive view of the global semi-trailer market. The Porter’s Five Forces analysis of the market has also been included, which helps understand the competitive scenario of the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and attractiveness.
The study provides a decisive view of the global semi-trailer market by segmenting it in terms of semi-trailer type, tonnage, axle, end-use industry, and region. These segments have been analyzed based on present and future trends. Regional segmentation comprises current scenario along with forecast of the semi-trailer market. The forecast provided is based on the compilation of current trends as well as the expected scenario in future due to change in technological, geographical, political, regulatory, and economic factors such as the rapid expansion of the automotive industry. Norms for loading and dynamics of the logistics industry and major fleets for each region have been considered while forecasting the global market size of semi-trailers. Road connectivity and the region’s import and export of goods from that region or country are key factors driving the semi-trailer market of that respective region.
The study includes profiles of major companies operating in the global semi-trailer market. The major market is distributed among few major manufacturers that belong to North America, Germany, and China. The key players are China International Marine Containers (Group) Ltd., FAHRZEUGWERK BERNARD KRONE GMBH & CO. KG, Great Dane, HYUNDAI Translead, Kögel Trailer GmbH, Chassis King, Inc., LAMBERET SAS, Schmitz Cargobull, Schwarzmüller Group, Shandong Arima group, Shandong Liang Shan Huayu Group, Wabash National Corporation., Utility Trailer Manufacturing Company, Dorsey Trailer, MANAC INC., Polar Tank, and Fontaine Commercial Trailer, Inc. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, global presence, and recent developments. The global semi-trailer market is primarily driven by the expansion of industries in order to fulfill the demand for different products in society.
The report provides the estimated market size for 2017 and forecast for the next nine years. The global market size has been provided in terms of value (US$ Mn) and volume (units). Market figures have been estimated based on semi-trailer type, tonnage, axle, end-use industry, and region. Size and forecast for each major segment have been provided in terms of global and regional/country markets.
In-depth interviews and discussions were conducted with a number of key industry participants and opinion from leaders to compile the research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be highly reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, market reports, news articles, press releases, and webcasts specific to companies operating in the market, TTMA (Truck Trailers Manufacturers Association Inc.), ATA (American Truckers Association), NTTC (National Tank Truck Carriers, Inc.), ANSI (American National Standards Institute), CTEA (The Canadian Transportation Equipment Association), CTRMC (Cargo Tank Risk Management Committee), CVSA (Commercial Vehicle Safety Alliance) OICA (International organization of Motor End-use Industry Manufacturers), ICCT (International Council on Clean Transportation), UITP (International Association of Public Transport), Automotive Research Association of India, Factiva, etc.
Primary research involves e-mail interactions and telephonic interviews for each market, category, segment, and sub-segment across regions. Primary interviews are conducted on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
The global semi-trailer market has been segmented as follows:
Global Semi-trailer Market, by Semi-trailer Type
- Refrigerated Trailer
- Flatbed Trailer
- Dump Trailer
- Dry Van
- Curtain Trailer/ Stake Trailers
Global Semi-trailer Market, by Tonnage
- Below 25 Tons
- Between 25-50 Tons
- Between 50-100 Tons
- Above 100 Tons
Global Semi-trailer Market, by Axle
- Less than 3 Axles
- 3 to 4 Axles
- More than 4 Axles
Global Semi-trailer Market, by End-use Industry
- Heavy Industry
- Food & Beverage
- Oil & Gas
- Textile Industry
Global Semi-trailer Market, by Region/Country/Sub-region
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa