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Global Semi-trailer Market to Exceed Valuation of US$24 bn by 2026, Demand From Road Freight From Heavy Industry Drive Sales, Concludes a TMR Study
ALBANY, New York , Feb. 12, 2020 /PRNewswire/ -- Growing use of road infrastructure in meeting freight transportation needs of various industries in several countries around the world, coupled with the rising need for cargo transports in numerous emerging economies, is what sets the tone for impressive growth of the semi trailers market. According to a study by Transparency Market Research, growing demand for long-distance trucks in heavy industries will key to propelling the sales of semi-trailers. The semi-trailer market is projected to clock a CAGR of 3% during 2018 – 2026, and will reach worth of US$ 24 bn by the end of this period.
, and detailed country-level projections. Gain business intelligence on (Semi-trailer Type - Refrigerated Trailer, Flatbed Trailer, Dump Trailer, Dry Van, Curtain Trailer/ Stake Trailers, Tankers; Tonnage - Below 25 Tons, Between 25-50 Tons, Between 50-100 Tons, Above 100 Tons; Axle - Less than 3 Axles, 3 to 4 Axles, More than 4 Axles; End use Industry - Heavy Industry, Construction, Medical, Food and Beverage, Oil and Gas, Textile Industry) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026 at https://www.transparencymarketresearch.com/semi-trailer-market.html
The study takes a close look at the macro-economic trends that underlie the expansion of the semi-trailers' demands around the world. Rapid growth of road freight for heavy goods transport in numerous industrialized economies around the world has been key to the expansion of the semi-trailers market. A few trends worth noticing are:
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Though market analysts paint a bright prospect for the semi-trailers market, a few constraints should concern stakeholders.
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Geographies with massive trucking needs for cargo movement are key to positive expansion of opportunities in the semi-trailers market. Regionally, North America stands out from the rest. In 2017, it held the major share, where opportunities had thrived on the back of growing spending on road infrastructure and connectivity. Constant equipment upgrade will help the regional market to cement its potential in coming few years as well. In the same year, this was trailed by Asia Pacific , wherein China accounted for the major share. The country is witnessing sizable demand for semi-trailers on account of rapid increase in long-distance trucks for high-volume cargos.
Key manufacturers of semi-trailers are leaning on launching semi-trailers with extended service life, high performance, and safety features to meet the demands for haulage in key markets. A few well-entrenched players in the semi-trailer market are also focusing on meeting the customized needs of end-use industries. An example is HYUNDAI Translead. Most globally top manufacturers are incorporating better materials in the trucking equipment and trying out new designs.
Names of prominent players in the semi-trailer market include Chassis King, Inc., Kögel Trailer, Maschinenfabrik Bernard Krone GmbH & Co. KG, and Kögel Trailer.
– The global market is projected to reach ~US$ 6 Bn by 2027, expanding at a CAGR of ~5% during the forecast period. The growth of the freight trucking market can be attributed to increase in transport trade globally.
– The global trailer terminal tractor market is likely to be driven by a range of macroeconomic and industry-specific factors. North America is expected to be at the forefront of global demand, with the market in the region expanding at a CAGR of more than 2% between 2019 and 2027.
– The U.S. is a major market for camping trailers, as majority of travelers prefer carrying camping vehicle/trailers during camping. Camping and trekking activities are increasing globally, as people are spending more on outdoor travels resulting into increased demand for traveling vehicles for tourist locations.
– The increasing demand for automotive trailers from end-use industries, including construction, manufacturing, and transport is expected to accelerate the growth of the global market in the next few years. The increasing disposable income of consumers, especially in Europe and North America is likely to boost the demand for automotive trailers in the near future.
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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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