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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Semi-Trailer Market Outlook
The global semi-trailer market is expected to grow at a CAGR of 5.6% during the forecast period of 2024-2032.
Rising Use of Road Transportation for Cargo Movement is Propelling the Market Growth of Semi-Trailers
The growth in the global market for semi-trailers can be associated with the rise and development of the logistics sector for several applications in the recent years. A vast majority of products from the food and beverage, construction, and automotive, among other industries, use road and trailer transportation for the movement of their products owing to flexibility and versatility, making semi-trailer trucks one of the most popular types of trucks used in logistics. This is a significant factor stimulating the growth of the market.
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In addition to this, the boom of the e-commerce has had a direct and positive influence over the market growth of semi-trailers as most of the cargo is transported using roadways. Different types of semi-trailer trucks like flat bed, dry vans, refrigerators, and tankers are being readily employed by different online retailers depending upon the product to be transported. These are some of the factors contributing to the market growth of semi-trailers.
Semi-Trailer Market Segmentation
A semi-trailer is usually defined as a trailer without a front axle. A large proportion of its weight is handled by a road tractor unit and are usually used for carrying larger loads due to its long cargo bed structure.
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On the basis of type, the market can be divided into:
- Flat Bed
- Dry Vans
- Refrigerated
- Lowboy
- Tankers
- Others
The market, based on foot length, can be segmented into:
- Up to 45 Foot
- Above 45 Foot
Based on tonnage, the market can be divided into:
- Below 25 Ton
- 25-50 Ton
- 51-100 Ton
- Above 100 Ton
On the basis of end-use, the market can be categorised into:
- Automotive
- Chemical
- FMCG
- Healthcare
- Heavy Industry
- Logistics
- Oil and Gas
- Others
The EMR report looks into the regional markets of semi-trailer like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
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Refrigerated Semi-Trailers are Expected to Hold a Significant Share in the Overall Growth of the Market
The refrigerated semi-trailer segment is expected to hold a significant share in the overall market growth of the semi-trailer industry. This can be associated with the rising popularity of refrigerated trucks equipped with features that allow the user to control the inner temperature to transport perishable goods like agricultural products, pharmaceutical products, and food items like fruits, vegetables, and dairy products, among others. In line with this, the growing preference for FMCG products, poultry, several cold chain goods, fresh flowers, fruits and vegetables are augmenting the growth of the market. In addition to this, rising awareness and preference for healthier and fresh products is another reason for the growth of the market. Thus, the growing cold chain industry across the world is surging the demand for refrigerated semi-trailer trucks and hence invigorating the market growth.
The overall market, however, witnessed a restrained growth during the COVID-19 pandemic with restrictions on cargo movement and limited production of semi-trailers during the lockdown period. Nevertheless, with changing lifestyles, inflating disposable incomes, urbanisation, and the growing logistics industry, the growing inclination towards home delivered products is positively influencing the market growth of semi-trailers.
Key Industry Players in the Global Semi-Trailer Market
The report presents a detailed analysis of the following key players in the global semi-trailer market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions:
- East Manufacturing Corporation
- Hyundai Translead, Inc.
- Schmitz Cargobull AG
- Wabash National Corporation
- Great Dane LLC
- Kögel Trailer GmbH & Co.
- Others
The comprehensive report looks at the micro and macro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Foot Length |
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| Breakup by Tonnage |
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| Breakup by End-Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Semi-Trailer Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global semi-trailer market is projected to grow at a CAGR of 5.6% in the forecast period of 2024-2032.
The market is being driven by the rising preference for home delivered food products, the boom of e-commerce, and the availability of different types of semi-trailers for different products.
The market is anticipated to be determined by the rising use of refrigerated semi-trailers for the delivery of perishable products.
The major regional markets for semi-trailer are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.
The different types of semi-trailers are flat bed, dry vans, refrigerated, lowboy, and tankers, among others.
The major foot lengths of semi-trailers are up to 45 foot, and above 45 foot.
The various tonnages of semi-trailers are below 25 ton, 25-50 ton, 51-100 ton, and above 100 ton.
The significant end-uses of semi-trailer are automotive, chemical, FMCG, healthcare, heavy industry, logistics, and oil and gas, among others.
The major players in the industry are East Manufacturing Corporation, Hyundai Translead, Inc., Schmitz Cargobull AG, Wabash National Corporation, Great Dane LLC, and Kögel Trailer GmbH & Co., among others.
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