Global Semi-Trailer Market to Grow at a CAGR of 5.6% in the Forecast Period of 2024-2032, Aided by the Production of Eco-Friendly Semi-Trailers

The logistics industry is one of the leading applications of semi-trailers owing to the rising consumer preference for home delivered products as a result of inflating incomes, changing lifestyles, and the boom of online retail industry, which is stimulating the growth of the market. Semi-trailers of different kinds are used for the transportation and delivery of cargo depending on the nature of the cargo. As a result, manufacturers are increasingly investing in research and development (R&D) for the production of advanced semi-trailers. Corresponding to this, the rising focus on fuel efficiency to promote a sustainable environment amidst rising concerns regarding environmental degradation, the introduction of energy efficient vehicles such as electronic vehicles is influencing the growth of the market. Further, the implementation of stringent government regulations regarding fuel efficiency, manufacturers are further prompted to incorporate eco-friendly features. These factors are thus providing impetus to the market growth.

Tesla, Inc (NASDAQ: TSLA), a renowned company in the global market for automobiles, in April 2020 announced the expected release of electric semi-trailers to the public by 2021. Leading companies like PepsiCo and Walmart have successfully registered for the electrified semi-trailers by Tesla. In November 2021, Schmitz Cargobull, Europe’s leading manufacturer of semi-trailers, revealed its new product- S. KO PACE SMART-a fully modular dry-freight semi-trailer designed for UK and Irish operators. The new production is equipped with features like reduced costs, carbon emissions, and lead times. The lightweight structure ensures consistency of tare weight, reduce carbon emissions thereby resulting in lower fuel consumption, hence cutting costs. Such developments by leading market players are furthering the market growth of semi-trailers globally.

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Market Analysis by Type, Foot Length, Tonnage, End-Use, and Region:

• Based on type, the market can be divided into flat beds, dry vans, refrigerated, lowboy, and tankers, among others.
• The market, based on foot length, can be divided into 45 foot and above 45 foot.
• On the basis of tonnage, the market can be categorised into 25-ton, 25–50-ton, 51-100 ton, and above 100 ton.
• The market, based on end-use, can be classified into automotive, chemical, FMCG, healthcare, heavy industry, logistics, and oil and gas, among others.
• The major regional markets for the product include North America, Latin America, Europe, the Asia Pacific and the Middle East and Africa.

Key Findings of the Report:

• The market is being driven by the rising consumer inclination towards home delivered products owing to busy lifestyles and inflating disposable incomes.
• The boom of the e-commerce industry is propelling the demand for semi-trailers for the transportation of different materials via roadways. 
• The availability of a variety of semi-trailers for different applications in different end-use industries is positively influencing the growth of the market.
• The refrigerated semi-trailer segment is projected to hold a significant share owing to the rising consumer demand for perishable items like agricultural produce and poultry, owing to rising health concerns.

Key Offerings of the Report:

• The EMR report gives an overview of the global semi-trailer industry for the periods (2018-2023) and (2024-2032).
• The report also offers historical (2018-2023) and forecast (2024-2032) markets for types, foot lengths, tonnages, end-uses, and major regions.
• The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global semi-trailer market include East Manufacturing Corporation, Hyundai Translead, Inc., Schmitz Cargobull AG, Wabash National Corporation, Great Dane LLC, and Kögel Trailer GmbH & Co., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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