Semi-trailer Market: Influential Factors Determining the Trajectory of the Market

Transparency Market Research has published a new report titled, “Semi-trailer Market (Semi-trailer Type, Tonnage, Axle, End-use Industry, and Region) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026”. According to the report, the global semi-trailer market is anticipated to surpass US$ 24 Bn by 2026, expanding at a CAGR of more than 3% during the forecast period.

The market for semi-trailers is anticipated to expand during the forecast period due to industrial expansion that leads to higher demand for semi-trailers in order to transport raw material and goods to end-users and suppliers. Amendment in trade policies fueled road transportation, which in turn is estimated to boost the semi-trailer market.

Rising global population has significantly boosted the demand for consumer goods, thus significant expansion of agriculture and manufacturing industries fueled the demand for semi-trailers. Moreover, development of good road connectivity is propelling the market for semi-trailer. Cost-effectiveness of transportation by semi-trailers is a key factor driving the semi-trailer market owing to the high cargo-carrying capacity of the vehicle. Increased spending by governments in order to improve road connectivity is likely to drive the semi-trailer market during the forecast period. Such high investment for road connectivity development after the Second World War resulted in the development of significantly large road transportation and semi-trailer markets.

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Low speed of the semi-trailer and presence of smaller roads and sharp turns on roads are major factor restraining the semi-trailer market due to its large size and large turning radius. Massive backlog in proper maintenance of roads is also a major factor that is likely to hinder the demand for road freight transportation during the forecast period. Furthermore, toll roads or booths lead to considerable time loss, which results in slow transportation of freight. Poor road infrastructure coupled with a lack of intent to improve transport facilities is expected to restrain the demand for road freight transportation and consequently, hamper the semi-trailer market during the forecast period.

In terms of semi-trailer type, factors driving the expansion of each type of semi-trailer is different. For instance, products that need to be maintained at a specific temperature range are transported through refrigerant or reefer trailers, while different types of semi-trailers are utilized to transport pallets to different regions owing to their regulatory norms and weather dynamics. Moreover, dry vans are highly preferred for transport of cargos. Consequently, the dry van segment held a significant share of the global semi-trailer market owing to the high rate of adoption of dry vans in North America and Mexico.

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Across regions, the market for semi-trailer varies largely in terms of semi-trailer type, tonnage, and axles. On a broader scale, in terms of revenue, North America held a prominent share of the global semi-trailer market, while in terms of volume, Asia Pacific dominated the semi-trailer market in 2017. High cost of semi-trailers in North America coupled with their high tonnage capacity led the region to hold a major share of the global market, in terms of revenue, despite holding a lower share of the global semi-trailer market, in terms of volume. In North America, dry vans are highly popular, which are more expensive than stake trailers that hold a notable share of the market in Asia Pacific.

Key manufacturers operating in the global semi-trailer market are China International Marine Containers (Group) Ltd., FAHRZEUGWERK BERNARD KRONE GMBH & CO. KG, Great Dane, HYUNDAI Translead, Kögel Trailer GmbH, Chassis King, Inc., LAMBERET SAS, Schmitz Cargobull, Schwarzmüller Group, Shandong Arima group, Shandong Liang Shan Huayu Group, Wabash National Corporation., Utility Trailer Manufacturing Company, Dorsey Trailer, MANAC INC., Polar Tank, and Fontaine Commercial Trailer, Inc. China International Marine Containers (Group) Ltd and Schmitz Cargobull are major manufacturers of semi-trailers, which contributed to a prominent share in the global semi-trailer market.

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