Dublin, Sept. 19, 2019 (GLOBE NEWSWIRE) -- The "Trailers Global Market Opportunities and Strategies to 2022" report has been added to ResearchAndMarkets.com's offering.
This report describes and evaluates the global trailers market. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2022, the forecast period.
The global trailers market reached a value of nearly $56.9 billion in 2018, having increased at a compound annual growth rate (CAGR) of 6.8% since 2014, and is expected to grow at a CAGR of 11.1% to nearly $86.6 billion by 2022.
Growth in the historic period resulted from rapid urbanization in emerging economies increasing the demand for goods transportation, economic growth in emerging countries, and increased global demand for food transportation. Factors that negatively affected growth in the historic period were increased price and regulatory pressures from governments. Going forward, expansion of the global population and growth of e-commerce will drive the growth. Factors that could hinder the growth of the trailers market in the future include reductions in free trade, shortages of truck drivers, and stringent emission regulations.
The trailers market is segmented by type of trailer into enclosed trailers, dump trailers, tank trailers, flatbed trailers and other trailers. The enclosed trailers market was the largest segment of the trailers market, accounting for 60.5% of the total in 2018. It was followed by other trailers, dump trailers, tank trailers and flatbed trailers. Going forward, the enclosed trailers segment is expected to be the fastest growing segment in the trailers market, at a CAGR of 12.4%.
The trailers market is segmented by type of end use into paper products, pharma drugs, textile products, food and groceries, farm products, chemicals, petroleum and petroleum products, electrical and electronics, motor vehicle and motor vehicle parts, metals and minerals, commercial machinery and others. The motor vehicles and parts was the largest segment, accounting for 19.3% of the global trailers market. The segment is expected to grow at a CAGR of 13.6%. Going forward, the petroleum and petroleum products segment is expected to be the fastest growing end use segment in the trailers market, at a CAGR of 16.3%.
Asia-Pacific was the largest region in the global trailers market, accounting for 35.8% of the total in 2018. It was followed by North America, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the trailers market will be Africa and North America, where growth will be at CAGRs of 16.3% and 14.5% respectively. These will be followed by Eastern Europe and the Middle East, where the markets are expected to grow at CAGRs of 10.2% and 9.7% respectively.
The global trailers market is concentrated, with a small number of large players holding more than one-fourth of the market. Major players in the market include China International Marine Containers (Group) Ltd., Schmitz Cargobull AG, Bernard Krone Holding SE & Co. KG, Wabash National Corporation and Utility Trailer Manufacturing Company.
The global transportation manufacturing market, of which the trailers market is a segment, reached a value of nearly $5,031.5 billion in 2018, growing at a compound annual growth rate (CAGR) of 8.4% since 2014. It is expected to grow at a CAGR of 10.9% and reach nearly $7,601.3 billion by 2022. The trailers market was the smallest segment in the global transportation manufacturing market accounting for 1.1% of the total in 2018. The motor vehicles market was the largest segment of the global transportation manufacturing market, accounting for 41.4% of the total and was valued at $2,085.1 billion in 2018. The all other transportation equipment manufacturing segment is expected to grow the fastest at a CAGR of 12.0% during 2018-2022.
The top opportunities in the trailers market will arise in the enclosed trailers market segment, which will gain $20.5 billion of global annual sales by 2022. The trailers market size will gain the most in the USA at $11.3 billion. Market-trend-based strategies for the trailers market include shifting to lighter trailers manufacturing, adopting telematics, using advanced materials in trailer manufacturing, and deploying automation and sensors in dump trailers. Player-adopted strategies in the trailers market include reinforcing M&A strategies to expand businesses in other geographic areas, and investing in research and development to develop new trailers.
To take advantage of these opportunities, the author recommends the trailer manufacturing companies to consider increasing the production of lightweight trailers, producing refrigerated trailers to cater to the growing demand from end-use industries, and directly targeting construction and mining companies, among other strategies.
Companies Mentioned
- Afrit
- al-Kadi
- Anderson
- Asia Motor Works
- Atlas Metal Industries LLC
- Bernard Krone Holding SE & Co. KG
- Big Tex Trailers
- Chereau
- China International Marine Containers (Group) Ltd.
- CIMC USA Road Transport Equipment
- CIMS
- CTS Trailers
- Dragon Products
- Engelbrecht Trailers
- Fahrzeugwerk Bernard KRONE GmbH & Co KG
- Force Motors
- Fujian Chnagchun
- Gorica
- Great Dane Limited Partnership
- H & H Trailers
- Heil Trailer International
- Hogan Mfg., Inc.
- Hua-Win
- Hyundai Translead
- India International Marine Containers (CIMC)
- Iran Kaveh Saipa
- Kholeka Engineering
- KrAZ
- Kssbohrer
- Kgel Trailers
- Legend Premium Trailers
- Mammut Industries
- Martin
- Maxi Trans
- MONO-TRANSSERVISS Ltd
- Mubarrad Transport Company
- Nefaz
- Nippon Trex
- Paramount Trailers
- Qasioon Group of companies
- Randon SA
- Remorques Lewis
- Roadhog Trailers
- Santander Equipos
- Satrac
- Schmitz Cargobull AG
- Shandong Union
- Shekou Port
- Specpricep
- Stako
- Stoughton Trailers
- Suzukoh Inc
- Tata International
- TFI International
- Timpte Trailers
- Titan Trailers
- Tonar
- Towmaster Trailers
- Toyo Trailer Co Ltd
- Tratec Eng
- Triton Trailers
- Truck Bodies & Equipment International Inc. (TBEI)
- US Cargo
- Utility Trailer Manufacturing Company
- Vanguard National Trailer Corporation
- Wabash National Corporation
- Wielton Group
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