Global Semi-trailer Market is valued approximately at USD 19.73 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.8% over the forecast period 2021-2027. Increasing manufacturing activities around the world, growing demand for road transport, rising urbanization and new product launches by market players are fueling demand for semi-trailer. According to Statista, United States’ manufacturing output has increased by 56.2% in quarter 3 of 2020 as compared to second quarter. Also, urban population in India has increased from 32.38% in 2014 to 34.93% in 2020. Furthermore, rapid growth in e-commerce and growing trend of home delivery are expected to propel the demand during forecast period. For instance, retail e-commerce sales have risen from USD 2382 billion in 2017 to USD 4280 billion in 2020 and is also expected to reach USD 6388 billion by 2024. However, high cost of semi-trailers is expected to hamper the market growth during forecast period.
Asia Pacific is dominating the world market in terms of market share among Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is also expected to grow with the highest rate during forecast period, owing to large supply chains and logistics network in the emerging regions such as India and China.
Major market player included in this report are:
China International Marine Containers (Group) Ltd.
Fontaine Commercial Trailer, Inc.
Kogel Trailer GmbH & Co.KG
Krone Commercial Vehicle Group
Polar Tank Trailer, LLC
Utility Trailer Manufacturing Company
Wabash National Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Flat Bed Trailer
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Semi-trailer Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers