Semi-trailer market is projected to grow at a CAGR of 4.98% from USD 25.32 billion in 2017to reach USD 37.34 billion by 2025at a CAGR of 4.98% during the forecast period (2017–2025).
The report segments the semi-trailer market and forecasts its size, by volume and value, on the basis of region (Asia Pacific, Europe, North America, and RoW), Type (Flatbed, Lowboy, Dry Van, Refrigerated, Tankers, & and Others), Tonnage (Below 25t, 25t–50t, 51t–100t, and above 100t), Number of axles (< 3 Axles, 3–-4 Axles,& and > 4 Axles).
The key players in the Semi-Trailer Market include – CIMC (China), Wabash (US), Schmitz Cargobull (Germany), Great Dane (US), Utility Trailer (US), Krone(Germany), Kögel Trailer(Germany), Hyundai Translead (US), Lamberet (France), Wilhelm (Austria).
North America region is estimated to hold the largest share of global semi-trailer in year 2017. However, Asia Pacific is expected projected to grow at the highest CAGR and surpass North America during the forecast period. The expansion of logistics and supply chain industry is expected to fuel semi-trailer market in Asia Pacific region.
Expanding cold chain industry, increasing use of advanced technologies such as telematics and stability control as safety concerns among fleet owners are expected to boost the demand for semi-trailer market. Whereas, However, local players in unorganized sector in developing countries is are a restraining factor for semi-trailer market. The advent of Modern technologies like such as semi-trailer platooning and electric semi-trailer truck in semi-trailer market haves lots of development opportunities in the upcoming years near future. On the other hand, lightweight semi-trailers and lowering the total cost of ownership (TCO) is will be the challenging factors for semi-trailer market in the future years.
Below 25tmarket segment is estimated to hold the largest share of the global semi-trailer market in 2017. The segment is estimated to grow at a significant CAGR and is expected to remain the largest market during the forecast period. The growth of this segment is driven by government regulations regarding weight carrying capacity for road safety.