Dublin, Aug. 16, 2021 (GLOBE NEWSWIRE) -- The "Semi-trailer Market Size, Share & Trends Analysis Report by Type (Flat Bed Trailer, Dry Vans, Refrigerated Trailers, Lowboy Trailers, Tankers), by Region (North America, Europe, APAC, LATAM, MEA), and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global semi-trailer market size is anticipated to reach USD 29.36 billion by 2028, expanding at a CAGR of 5.8%
Increasing demand across the construction, defense, automotive, and energy sectors is anticipated to be a key factor driving market growth. In addition, increasing dependence of e-commerce companies on third-party logistics (3PL) providers to ensure transportation of goods through hub and spoke distribution model is also expected to augment market growth in the coming years.
Furthermore, expanding cold chain and logistics industry is contributing significantly to the market growth. Less than truckload (LTL) and full truckload (FTL) freight shipping companies worldwide are increasingly adopting semi-trailers due to the versatility being offered in terms of load-carrying capacity. As compared to rigid trucks, semi-trailers offer the lowest cost of transportation per ton per km, which is further enhancing its adoption.
Over the last few years, the product demand has witnessed strong growth on account of positive growth observed in the oil & gas industry. In the coming years, the market is poised to register steady growth due to relaxation of regulations with respect to length and load-carrying capacity of semi-trailers.
Government regulations supporting the introduction of lightweight and eco-friendly transport vehicles are expected to shape the future market demand. However, lack of proper infrastructure required for transportation, especially in emerging economies is hampering the semi-trailer market growth.
Manufacturers are increasingly incorporating advanced technologies such as driver assistance systems (DAS) and other connectivity solutions into their products to help their consumers (fleet operators/logistics service providers) enhance operational efficiency.
Furthermore, growing preference for platooning and introduction of electric semi-trailer trucks are expected to create huge opportunities for the manufacturers in the coming years. Manufacturers are increasingly focusing on introducing lightweight transport vehicles through improved designs and lighter components to ensure greater productivity and payload.
Semi-trailer Market Report Highlights
- The dry vans segment is expected to witness a revenue-based CAGR of more than 4.0% due to growth in the retail and fast-moving consumable goods (FMCG) industry, especially in the developing economies.
- The Asia Pacific market is expected to witness substantial growth owing to improving road infrastructure and anticipated growth in the automobile industry. Automotive companies are manufacturing many cars and two-wheelers which are being transported through semi-trailers to end-consumers.
- The market is highly consolidated with the presence of established players such as Wabash National Corporation, Schmitz Cargobull, Great Dane, and Kogel Trailer GmbH.
- Players are focusing on R&D investments, acquisitions and mergers, and product innovation in order to strengthen their market presence. For instance, in 2017 Wabash National Corporation entered into a definitive agreement to acquire Supreme Industries, Inc. to enhance its market presence in dry vans..
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Semi-trailer Market Variables, Trends & Scope
3.1 Penetration & Growth Prospect Mapping
3.2 Industry Value Chain Analysis
3.3 Semi-trailer Market Dynamics
3.3.1 Market Driver Analysis
3.3.1.1 Improving Road and Traffic Infrastructure
3.3.1.2 Expanding Cold Chain Industry
3.3.2 Market Restraint Analysis
3.3.2.1 Local Players in Unorganized Sector
3.3.3 Market Opportunity Analysis
3.3.3.1 Offering of Custom Built Semi-trailers
3.4 Semi-trailer Industry Analysis - Porter's
3.5 Semi-trailer Industry Analysis - PEST
3.6 Semi-trailer Market: Key Company Analysis, 2020
Chapter 4 Semi-trailer Market: Type Segment Analysis
4.1 Semi-trailer Market: By Type Segment Outlook & Market Share 2020 and 2028
4.2 Flat Bed Trailer
4.3 Dry Vans
4.4 Refrigerated Trailers
4.5 Lowboy Trailers
4.6 Tankers
Chapter 5 Semi-trailer Market: Regional Segment Analysis
5.1 Semi-trailer Market: By Region Segment Outlook & Market Share 2020 and 2028
Chapter 6 Competitive Landscape
6.1 Company Overview
6.2 Financial performance
6.3 Product Benchmarking
- China International Marine Containers (Group) Ltd.
- Fontaine Commercial Trailer, Inc.
- Great Dane
- Kogel Trailer GmbH & Co.KG
- Krone Commercial Vehicle Group (Bernard Krone Holding)
- Lamberet SAS (Xinfei France SA)
- Polar Tank Trailer, LLC (EnTrans International, LLC Company)
- Schmitz Cargobull
- Utility Trailer Manufacturing Company
- Wabash National Corporation
For more information about this report visit https://www.researchandmarkets.com/r/l0d9b3
