The global semi-trailer market is estimated to reach USD 45.44 billion by 2028 and is expected to expand at a CAGR of 5.5% during the forecast period, between 2021 and 2028. A semi-trailer is a type of a trailer that doesn't have any shaft, and the blend of at least one trailer that is utilized to convey carriage is called a semi-trailer. These semi-trailers are comprehensively utilized in businesses such as construction development, oil & gas, and food & beverage.
Semi-Trailer Market Trends, Drivers, Restraints, and Opportunities
Scope of Semi-trailer Market Report
The report on the semi-trailer market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes
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Details
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Report Title
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Semi-trailer Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Types (Flatbed Trailer, Dry Vans, Refrigerated Trailers, Lowboy Trailers, and Tankers), Tonnage Types (Below 25 Tons, 25-50 Tons, 51-100 Tons, above 100 Tons), Length (Up to 45 feet and Above 45feet), End-users (Heavy Industry, Automotive, Chemical, FMCG, Logistics, Construction, Medical, Food and Beverage, Oil and Gas, and Textile)
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Regional Scope
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Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
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Report Coverage
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Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
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Key Players Covered in the Report
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China International Marine Containers (Group) Ltd., Fontaine Commercial Trailer, Inc., Great Dane, Kogel Trailer GmbH & Co.KG, Krone Commercial Vehicle Group, Lamberet SAS, Polar Tank Trailer, LLC, Schmitz Cargobull, Utility Trailer Manufacturing Company, Wabash National Corporation, HYUNDAI TRANSLATED
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Semi-trailer Market Segment Insights
Dry Vans Segment to Account a Large Market Share
Based on types, the market can be segmented into flatbed trailer, dry vans, refrigerated trailers, lowboy trailers, and tankers. The dry vans segment represented more than 35% market share in 2020 and is expected to grow at a steady rate in the coming years. Dry vans are used to move cargo that requires ostensible security against street and environmental conditions. These trailers are utilized for their expense productivity and adaptability. The flatbed trailer segment accounted for a significant volume share in 2020 and is anticipated to expand at a CAGR of 6.4% during the forecast period. Flatbed trailers are used to move substantial freight, such as large equipment and development materials.
Below 25 Tons Segment to Hold a Considerable Market Share
On the basis of tonnage types, the market can be segregated into below 25 tons, 25-50 tons, 51-100 tons, above 100 tons. The below 25 tons segment is estimated to account for a considerable market share during the forecast period. Conversely, the 25-50 tons segment is anticipated to grow at a steady rate in the projected timeline.
Up to 45 Feet Segment to Constitute a Major Share of the Market
In terms of length, the market can be bifurcated into up to 45 feet and above 45feet. The up to 45 feet segment is anticipated to hold a major market share due to rising use in various industries such as food & beverage, pharmaceuticals, and construction activities.
Food & Beverage Segment to Grow at a Sustainable Rate
Based on end-users, the market can be classified as heavy industry, automotive, chemical, FMCG, logistics, construction, medical, food and beverage, oil and gas, and textile. The food & beverage segment is expected to grow at a sustainable rate in the coming years. Rising demand for food in emerging economies and rapid industrialization in emerging economies is driving the segment growth.
Asia Pacific to Constitute a Significant Market Share
On the basis of regions, the market can be divided into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa Asia Pacific is estimated to hold a significant market share due to presence of arising economies such as India and China, which contain huge stockpile chains and coordination. Besides, the developing web-based business industry in the region is expected to flood the interest for dry vans trailers in the coming years. On the other hand, the market in North America is estimated to grow at a sustainable rate in the projected timeline. The California Air Resources Board (CARB) commanded the establishment of "SmartWay", a confirmed streamlined innovation, to further develop eco-friendliness in farm vehicles and semi-trailers. Such factors are estimated to drive the regional market growth.
Segments
Types
- Flat Bed Trailer
- Dry Vans
- Refrigerated Trailers
- Lowboy Trailers
- Tankers
Tonnage Types
- Below 25 Tons
- 25-50 Tons
- 51-100 Tons
- Above 100 Tons
Length
- Up to 45 feet
- Above 45feet
End-users
- Heavy Industry
- Automotive
- Chemical
- FMCG
- Logistics
- Construction,
- Medical
- Food and Beverage
- Oil and Gas
- Textile
Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Key Players
- China International Marine Containers (Group) Ltd
- Fontaine Commercial Trailer, Inc
- Great Dane
- Kogel Trailer GmbH & Co.KG
- Krone Commercial Vehicle Group
- Lamberet SAS
- Polar Tank Trailer, LLC
- Schmitz Cargobull
- Utility Trailer Manufacturing Company
- Wabash National Corporation
- HYUNDAI TRANSLATED
Competitive Landscape
Some prominent players in the global semi-trailer market include China International Marine Containers (Group) Ltd., Fontaine Commercial Trailer, Inc., Great Dane, Kogel Trailer GmbH & Co.KG, Krone Commercial Vehicle Group, Lamberet SAS, Polar Tank Trailer, LLC, Schmitz Cargobull, Utility Trailer Manufacturing Company, Wabash National Corporation, HYUNDAI TRANSLATED