Semi-Trailer Market Synopsis
The semi-trailer market size is estimated to expand at a CAGR of 5.80%. It is a diverse market and there are broad options of sizes and composition that are composed to meet the various range of freight demands. Owing to the expansion in GDP per-capita, the growth in international inbound and outbound tourism, and the aging demography in various countries, across the globe, the semi-trailer market 2023 is expected to expand at a higher pace.
The semi-trailer market will expand during the review period with an increase of adventure tourism, and the development of eco-tourism. Additionally, several authorities across the globe have taken an initiative to promote the fuel-saving technologies within their heavy-duty vehicle fleets such as semi-trailers. This is performed to increase fuel consumption and GHG emissions from commercial vehicles.
But the expansion of the global semi-trailer market is anticipated to be controlled by the elements such as the imposition of heavy taxes on tour operators, the increase in the number of terror attacks and the seasonality dependence.
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Semi-Trailer Market Segmentation
The semi-trailer market can be segmented based on type, region, tonnage and axle count.
Based on type, the market has been classified as tankers, lowboys, flatbeds, refrigerated, dry van, and others. Among these, dry van vertical is anticipated to acquire the maximum share of the market, during the review period, due to the large production of such type of semi-trailers, across the world. Dry seizes the maximum of the sales in the market and holds a large percentage of total semi-trailer miles traveled.
The van semi-trailer market is highly competitive, with the worldwide top five best companies reigning over the maximum of the share in the market size of the semi-trailer market. Globally, freight vehicles are the most important contributor to fuel consumption and climate change emissions in the on-road transportation sector. Hence, semi-trailers that are used as freight vehicles, are estimated to expand notably during the review period.
Based on region, the semi-trailer market can be classified on the grounds of Europe, North America, Asia Pacific and the Rest of the World.
Based on tonnage, the worldwide semi-trailer market has been classified into 25 t, 25 t – 50 t, 51 t – 100 t and above 100 t. Among these, the below 25t segment is estimated to acquire the maximum market share. It has also been estimated to expand at a high CAGR during the forecast period, due to the implementation of government rules and regulations for weight carrying capacity for road safety.
Based on the axle count, the global semi-trailer market has been classified into less than 3 axles, 3-4 axles, and more than 4 axles. Amongst these, less than 3 axles vertical is estimated to lead, concerning growth rate. These trailers are particularly used and preferred over other semi-trailers in the parts of Europe and the Asia Pacific. The legally allowed load which can be transported on a semi-trailer is dependent on the axle count of a semi-trailer. Hence, it can be deduced that the government’s monitor on weight limits, is affecting the less than 3 axles segment.
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Semi-Trailer Regional Market Segmentation
Based on the region, the worldwide semi-trailer market has been divided into four major regions of Asia Pacific, Europe, North America, and the Rest of the World. North American region is anticipated to lead the worldwide semi-trailer market. Owing to elements such as expanding the supply chain industry, improving the road infrastructure, the introduction of government regulations on weight carrying capacity and dimensions of a semi-trailer.
Developing nations such as India and China are experiencing considerable infrastructure and fiscal growth further results in a rise in the requirement for dry van semi-trailers. The other driving elements of the expansion of this vertical are rise in retail, fast-moving consumable durable industries, and fast-moving consumable goods.
Semi-Trailer Market Key Players
- Wabash National Corporation (US)
- Schmitz Cargobull (Germany)
- Kögel Trailer GmbH & Co.KG (Germany)
- 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)
- Great Dane Limited Partnership (the U.S)., among others
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