ID: MRFR/AM/3926-HCR | February 2021 | Region: Global | 100 pages
The Semi-Trailer Market size is expected to grow by 5.81%. The operations of the semi-trailer are exceptional. The semi-trailer is a technology without a front axle. Semi-trailers are essential in the cold chain market. The advancement in technologies and Telematics is another factor that creates more demand for semi-trailers. The dry van semi-trailers are gaining massive popularity in the forecast period. It is dry van semi-trailers are used in the logistics of goods and other operations.
In the upcoming years, the adoption rate of semi-trailers will be tremendous. The ageing of conventional trailers is offering growth opportunities to the semi-trailers market. The large formatting retailing is another factor that provides more demand for the semi-trailer market. Semi-trailers are suitable vehicles for massive goods transportation. The rise of demand in the transportation industry will have a positive impact on the semi-trailer market. Some semi-trailers are 45 feet and with more than 4 axles. The launch of innovative semi-trailers is the key reason for market growth. Also, the semi-trailer market value is tremendous in the forecast period.
The covid 19 has a considerable impact on the semi-trailer market. The production and sales of the market have disruptions due to the pandemic. The OEMs had to wait to resume the market operation post covid 19. The market demand is declining during this period. Post covid 19, there is going to be an increase in demand for the semi-trailer market.
The newer wave of covid 19 can bring new challenges for the market. The market requires plenty of production adjustments during this period. There are massive liquidity issues in the market. Also, a lower demand rate can change the semi-trailer market outlook. Various regions of the market are witnessing a decline in overall demand. Europe has witnessed a reduction in demand of 27%. It can adversely affect the global semi-trailers market.
The cold chain industry is continuously expanding in many regions. The food and agriculture market is rising by 40%. However, there is massive food wastage due to the lack of refrigerator transports. The rise in cold chain transports can reduce food wastage by 30%. Consumer spending on cold chain foods is rising at an exponential pace. It will have a positive impact on the semi-trailer market.
Especially, the refrigerated semi-trailer market is witnessing high demand due to these factors. Also, in the upcoming years, the investments in cold chains food will increase. The dairy, fruit, poultry, vegetables and more food items will escalate. The transportation of these goods will be easy and quick through refrigerated semi-trailers. Also, the quality of these foods items will remain good due to the fast transportation features of semi-trailers. Many retailers are also expanding their cold chain market. All these factors will propel the demand and semi-trailer market growth.
The semi-trailer platooning will create more growth opportunities for the market. The semi-trailer platooning connects multiple trailers in a convoy. Also, during this process, the connecting technologies are used for stable connection and support. There are leader semi-trailers that will be in the front to connect the other trailers.
The semi platooning reduces carbon emission from the vehicle. The leader semi-trailers activate brakes and other operations for other trailers. The use of semi-trailer platooning has plenty of benefits to transport the goods. Also, the use of semi platooning will open a wide range of semi-trailer market growth opportunities. The semi-trailers have poor wind resistance. However, innovation will provide semi-trailer market growth opportunity. The innovation will enhance the operations and structure of semi-trailers. Also, the launch of a semi-trailer with an aerodynamic structure will create growth possibilities.
There are few well-established market players in the semi-trailer market. However, there are plenty of local unorganized players in this market. There are only three well known key players in the North American region. Also, In Europe, there are only a few key players in the semi-trailer market. In the Asia Pacific region, the amount of unorganized and local competitors is massive.
More than 80% of the Asia Pacific market has local players. The competitiveness and cost-effectiveness of local semi-trailer products pose a threat to the market. Also, their local players promote cheap alternatives of semi-trailers. It causes several inconsistencies in the global semi-trailer market. These factors restrict the overall growth of semi-trailers in the forecast period. Also, these factors can have a massive impact on the market expansion rate.
The launch of lightweight semi-trailers poses a challenge to the market. The urban requirements for semi-trailers are unique. They require lightweight and cost-efficient semi-trailers. However, the launch of lightweight semi-trailers may require price alteration. The price adjustment can cause less revenue for the market. Also, the deployment of carbon emission-reducing technologies in lightweight technologies can increase the market complexity. The lightweight models may lessen the lifecycle of semi-trailers. They are easily prone to damages on the harsh road. These factors are significant challenges in this market.
There is moderate growth in the semi-trailer market in the forecast period. The dry van semi-trailer market segment will lead to more profitability. The logistics goods require protection against climate and harsh road conditions. Semi-trailers are suitable vehicles to transport logistics goods safely. There are plenty of demands driving factors that will develop the overall semi-trailer industry. The expansion of the cold chain industry and rising investments will have a positive impact on the semi-trailers market. Also, the semi-trailer platooning will provide exceptional expansion possibilities for the market. All these factors create positive semi-trailer market trends.
North America is accepted to holds the maximum semi-trailer market share. The fleet operations in North America are free. The regions such as Canada, the US and Mexico will witness an increased rate of fleet operations. The market operations and consumer spending will rise in this region.
Also, the key players in this region are collaborating to make plenty of product developments. The technological advancements and launch of innovative trailers are huge in this market. Also, the launch of all-electric trailers and refrigerator trailers will escalate during the forecast period. The thermally efficient and eco-friendly semi-trailers will attract new key players to the market. The North American market will lead other regions in terms of demand and revenue.
The semi-trailer market is diversified into Asia Pacific, Europe and North America. North America will dominate other regional players in the forecast period. The demand and revenue rates will rise in the upcoming years. The expansion of the cold chain industry is a key factor for high demand in North America.
USA and Canada will have plenty of trade operations in the forecast period. The key players in the market are launching innovative semi-trailers in the market. The thermal efficiency, refrigeration features and eco-friendly features of the product will provide more demand. Further, the Asia Pacific market will witness plenty of demand and growth possibilities. The improving road infrastructure is offering growth prospects for the market. The launch of new governmental regulations will further enhance the semi-trailer market.
The key players of the semi-trailer market are launching advanced technologies to enhance the efficiency of vehicle operations. The key players are establishing new semi-trailer designs that will save 30 minutes in the manufacturing process. The market trends are changing according to the requirements of the customers. There is going to be plenty of developments in the semi-trailer market.
The key players of the semi-trailer market are
|Market Size||2027: USD 40 Billion|
|CAGR||5% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Technology, By End Market, By Application, By Vehicle type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Wabash National Corporation (US), Schmitz Cargobull (Germany), Kögel Trailer GmbH & Co.KG (Germany), and Great Dane Trailers (US), American Trailer & Storage (U.S.), PACCAR Inc. (U.S.), China International Marine Containers (Group) Co. Ltd. (China), Utility Trailer Manufacturing Company (the U.S.), Schmitz Cargobull AG (Germany), and Great Dane Limited Partnership (the U.S).|
|Key Market Opportunities||Growing cold chain industry|
|Key Market Drivers||Growth in large-format supermarket retailing|
Frequently Asked Questions (FAQ) :
The growth rate of the semi-trailer market is 5.81%.
The adoption of semi platooning will offer market growth opportunities.
The key players of the market are Great Dane Limited Partnership, Wabash National Corporation, Schmitz Cargobull AG, Kögel Trailer GmbH & Co.KG, Utility Trailer Manufacturing Company, American Trailer & Storage, China International Marine Containers, American Trailer & Storage and PACCAR Inc.