“Rapid developments in wind & energy, construction, and heavy engineering would drive market growth”
The modular trailer market, by value, is projected to grow to USD 19.6 billion by 2027 from USD 14.0 billion in 2019, at a CAGR of 4.3%. The rising demand for modular trailers in wind & energy, construction, mining, and heavy engineering will boost the future growth of the market.
“Extendable/telescopic trailer to be the fastest growing segment of the modular trailer market, by trailer type”
Extendable/telescopic trailer segment is projected to be the fastest growing market by 2027. OEMs are planning to be more customer-centric in terms of manufacturing process. The increase in wind energy power plants is leading to installation of more power generating equipment. Such equipment are getting larger and heavier as well. To ensure proper transportation of these equipment, manufacturers are designing extendable/telescopic trailers with a higher weight carrying capacity and longer length. Hence, the extendable/telescopic trailer segment is projected to be the fastest.
“Heavy engineering is the fastest growing application segment for modular trailers”
Heavy engineering is estimated to be the fastest growing segment of the modular trailer market, by application. A large number of heavy engineering equipment such as steam generators, boilers, and generators are transported through modular trailers. With the growth of the heavy engineering industry, the demand for modular trailers will increase over the forecast period.
“Asia Pacific and North America are estimated to be among the largest markets for modular trailers”
North America is estimated to be a prominent market for modular trailers because of factors such as increasing demand for commodities, leading to investments in the mining industry. The North American Free Trade Agreement (NAFTA), which allows free trade between the US, Canada, and Mexico, would lead to increased fleet operations in the region. The construction industry is expected to grow at a healthy rate against federal spending cutbacks. Asia Pacific is anticipated to be the fastest growing market for modular trailers. The region has witnessed growth in mining operations due to the increasing demand for raw materials. This has resulted in the presence of many international companies in this region. As a result, the Asia Pacific market is estimated to be the fastest growing market during the forecast period.
Breakup of primary respondents
- By Department: Sales/Marketing - 45%, Production & Procurement - 35%, CXOs -20%
- By Designation: C-Level Executives - 40%, Directors - 35%, Others - 25%
- By Region: Asia Pacific- 40%, Europe - 35%, North America - 20%, RoW - 5%
The modular trailer market is dominated by global players and comprises several regional players. The key players in the modular trailer market are Goldhofer (Germany), Nooteboom Trailers (Netherlands), Faymonville Group (Italy), TII Group (Germany), and VMT Industries (India). The study includes an in-depth competitive analysis of these key players in the modular trailer market with their company profiles, SWOT analysis of the top 4 companies, recent developments, and key market strategies.
The study segments the modular trailer market by type (multi-axle, telescopic/extendable, lowboy); application (construction & infrastructure, mining, wind & energy, and heavy engineering); number of axles (2 axles and >2 axles); and region (Asia Pacific, Europe, North America, RoW).
Key Benefits of Buying the Report:
- The study provides a qualitative and quantitative analysis of the modular trailer market, by trailer type, in volume (units) and value (USD million), at regional level.
- The study provides a qualitative and quantitative analysis of the modular trailer market, by number of axle, in volume (units) and value (USD million), at regional level.
- The study provides a qualitative and quantitative analysis of the modular trailer market, by application, in volume (units) and value (USD million), at regional level.
- The study includes the profiles of 10 key companies and an additional 10 companies, which have a significant impact on the market, along with their financial structure, recent developments, and product portfolio.
- The report covers the competitive landscape that reflects the market ranking analysis of leading players, along with the dominant strategies adopted by these stakeholders to retain their position.