New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Trailer Global Market Report 2023" - https://www.reportlinker.com/p06466419/?utm_source=GNW
, Schmitz Cargobull, Fontaine Commercial Trailer Inc., Load Rite Trailers Inc., East Manufacturing Company, Felling trailers Inc., Kentucky Trailer Company, MAC Trailer Enterprises Inc., Fruehauf Trailer Corporation, Deopker Industries Limited, Manac Trailers Inc., and Heil Trailer International LLC.
The global automotive trailer market is expected to grow from $22.31 billion in 2022 to $23.54 billion in 2023 at a compound annual growth rate (CAGR) of 5.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive trailer market is expected to reach $28.03 billion in 2027 at a CAGR of 4.5%.
The automotive trailers market consists of sales of utility trailers, horse trailers, boat trailers, and travel trailers.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Automotive trailers refer to an unpowered vehicle that is designed to be towed by a powered vehicle, such as a car or truck. It is a container on wheels that is typically used for transporting goods or equipment and can also be used for recreational purposes, such as camping or boating.
North America was the largest region in the automotive trailers market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in automotive trailers report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the Automotive Trailer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The main types of vehicles used for automotive trailers are two-wheelers and bikes, passenger cars, and commercial vehicles.Two-wheelers and bikes refer to a type of vehicle that has two wheels.
The types of axles involved are single axle, tandem axle, and three or more than three axles, which are used for various types of trailers, such as dry van and box, refrigerator, chemical, and liquid, tipper, flatbed, and others. It is used for various applications such as automotive, transportation, logistics, and others.
The expanding logistics industry is expected to propel the growth of the automotive trailers market going forward.The logistics industry refers to the process of planning, implementing, and controlling the movement of goods and services from the point of origin to the point of consumption.
Automotive trailers are an important part of the logistics industry and are widely used in the industry for transporting machinery, cargo, consumer goods, and others. For instance, in 2021, according to the International Transport Forum, a France-based inter-governmental organization of transport industry professionals, the global freight trade increased by 9.8% as compared to 2020. Furthermore, in January 2023, according to the US Department of Transportation, a US-based governmental department, the North American trans-border freights increased by 10.6% as compared to January 2022. The truck freight was valued at $77.7 billion, which was an increase of 12.7% as compared to 2022. As a result, the expanding logistics industry is driving the growth of the automotive trailers market forward.
Product innovations are a key trend gaining popularity in the automotive trailers market.Major companies operating in the automotive trailer market are introducing innovative products to sustain their position in the market.
For instance, in March 2023, Lightship RV, a US-based recreational vehicle company, launched the Lightship L1, the first purpose-built, aerodynamic, all-electric travel trailer.The L1, which is three times more aerodynamic than a conventional trailer, features a patented power system architecture that essentially integrates an automotive electric vehicle battery and powertrain with a domestic scale solar system.
While harvesting and storing clean solar energy, the L1 may move itself such that the vehicle towing it experiences almost no range or MPG loss and can power several all-electric items within the car.
In April 2022, Novae LLC, a US-based trailer manufacturer and a portfolio company of Brightstar Capital Partners, acquired Look Trailers for an undisclosed amount.The acquisition puts Novae among North America’s leading trailer manufacturers and helps to improve its product offerings and value proposition.
Look Trailers is a US-based manufacturer of cargo trailers and other automotive trailers.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The automotive trailer market research report is one of a series of new reports that provides automotive trailer market statistics, including automotive trailer industry global market size, regional shares, competitors with a automotive trailer market share, detailed automotive trailer market segments, market trends and opportunities, and any further data you may need to thrive in the automotive trailer industry. This automotive trailer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466419/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
