Vancouver, Dec. 19, 2023 (GLOBE NEWSWIRE) -- The global intelligent trailer market size was USD 22.02 Billion in 2022 and is expected to register a steady revenue CAGR of 3.7% during the forecast period, according to latest analysis by Emergen Research. Increasing focus on environmental sustainability and autonomous vehicle development is a key factor driving market revenue growth. Intelligent trailer is an advanced technology that has various features such as Global Positioning System (GPS) tracking, anti-theft, record trailer health, and others.
The advancement of autonomous vehicles is closely related to intelligent trailer systems. As autonomous trucks become more prevalent, need for seamless integration and communication between the vehicle and trailer is increasing. Intelligent trailer systems play a crucial role in enabling features such as autonomous loading and unloading, platooning, and convoy systems, rising the development and adoption of these systems.
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However, retrofitting challenges is a key factor, which could restrain market revenue growth. Retrofitting existing trailers with intelligent systems can be a complex and costly process. Older trailers may not have the necessary infrastructure or compatibility to integrate the advanced technologies, requiring extensive modifications or even replacement of certain components. Retrofitting can also lead to downtime for trailer, impacting operational efficiency.
In addition, integration complexity, data integration, and standardization across different manufacturers systems are other key factors, which could restrain market revenue growth.
Scope of Research
| Report Details | Outcome |
| Market Size in 2022 | USD 22.02 Billion |
| CAGR (2023–2032) | 3.7% |
| Revenue Forecast To 2032 | USD 31.82 Billion |
| Base Year For Estimation | 2022 |
| Historical Data | 2019–2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Type, application, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Spireon, Schneider, Clarience Technologies, Great Dane LLC, Kogel, Krone Trailer, Schimtz Cargobull AG, Peterson Manufacturing, ZF Friedrichshafen AG, and Tata International DLT |
| Customization Scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global intelligent trailer market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective intelligent trailer system. Some major players included in the global intelligent trailer market report are:
- Spireon
- Schneider
- Clarience Technologies
- Great Dane LLC
- Kogel
- Krone Trailer
- Schmitz Cargobull AG
- Peterson Manufacturing
- ZF Friedrichshafen AG
- Tata International DLT
Strategic Development
- On 15 September 2022, Grote Industries, which is a leading manufacturer and supplier of lighting products and safety systems for a wide range of heavy duty trucks and trailers, vocational and passenger vehicles, unveiled the 4SEE smart trailer system, a combination of hardware and software that aims to provide truck fleets with greater access to data related to their operations. The 4SEE system's goal is to combine all the independent solutions into a single system with a common communication stream, without increasing the trailer's harness or hardware requirements.
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Some Key Highlights From the Report
- The flatbed trailers segment accounted for largest revenue share in the global intelligent trailer market in 2022. This is due to significant investments in innovative technology that provides critical data for optimizing operation and maintenance of trailer. In addition, rising number of road accidents particularly in developed countries is another key factor driving revenue growth of this segment. Intelligent trailer systems are aimed to enhance trailer safety, security, and efficiency, and offers significant added value for fleet operators and cargo owners.
- The pharmaceutical and healthcare is expected to register steadily fast revenue growth rate in the global intelligent trailer market during the forecast period. This is due to increasing integration of Internet of Things (IoT) trailer tracking systems with telematics. and rising awareness regarding improved trailer utilization and remote operations control ar. Trailer tracking system employs a combination of GPS, cellular, Wireless-Fidelity (WiFi), and geofencing with alerts. This reduces the amount of loss during the supply chain process. Moreover, users are notified when a shipment delay occurs, allowing the issue to be resolved as soon as possible.
- On 15 September 2022, Grote Industries, which is a leading manufacturer and supplier of lighting products and safety systems for a wide range of heavy duty trucks and trailers, vocational and passenger vehicles, unveiled the 4SEE smart trailer system, a combination of hardware and software that aims to provide truck fleets with greater access to data related to their operations. The 4SEE system's goal is to combine all the independent solutions into a single system with a common communication stream, without increasing the trailer's harness or hardware requirements. The 4SEE digital harness system also includes modules for connecting legacy and digital hardware to the same harness while isolating them so that no piece of the system interferes with any other.
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Emergen Research has segmented the global intelligent trailer market on the basis of type, application, and region:
- Type Outlook (Revenue, USD Billion; 2019-2032)
- Refrigerated Trailers
- Dry Van Trailers
- Flatbed Trailers
- Tanker Trailers
- Others
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Transportation and Logistics
- Food & Beverage (F&B) Industry
- Pharmaceutical and Healthcare
- Construction and Heavy Equipment
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
-
- Refrigerated Trailers
- Dry Van Trailers
- Flatbed Trailers
- Tanker Trailers
- Others
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About Emergen Research
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