Semi-trailer Market to exceed $41.4 Bn by 2032, Says Global

Selbyville, Delaware, June 11, 2024 (GLOBE NEWSWIRE) —

The semi-trailer market valuation is predicted to surpass USD 41.4 billion by 2032, as reported in a research study by Global Market Insights Inc.

The rising adoption of sustainable transportation solutions and ongoing technological innovations in semi-trailer design will accelerate business growth from 2024 to 2032. With increasing environmental consciousness and regulatory pressures, the demand for eco-friendly transport options is on the rise. Technological advancements, particularly in electric and hybrid semi-trailers, offer enhanced efficiency and a reduced carbon footprint. As these trends continue to evolve and gain momentum, they will drive considerable expansion in the semi-trailer market, reshaping its landscape and driving demand.

For instance, in October 2023, BMW Group Logistik, in partnership with Trailer Dynamics, conducted trials of an electrically driven semi-trailer across diverse tracks and distances within genuine logistical settings. It indicates a growing interest and investment in electric propulsion technology within the transportation industry. This move could potentially drive innovation and competition within the semi-trailer industry, leading to advancements in electric vehicle technology and a shift towards sustainable transportation solutions.

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The semi-trailer market from the flatbed trailer segment will garner remarkable gains by 2032, attributed to the versatility and wide-ranging applicability of flatbed trailers across various industries, including construction, manufacturing, and logistics. With their open design and ability to accommodate diverse cargo types, flatbed trailers are preferred for transporting oversized or irregularly shaped loads. Additionally, the growing demand for flatbed trailers in industries such as construction and agriculture will further solidify their position as the leading segment in the semi-trailer industry.

The freight and logistics segment will accumulate a noticeable semi-trailer market share by 2032, driven by the indispensable role of semi-trailers in facilitating the transportation of goods across vast distances. As e-commerce continues to flourish and global trade volumes surge, the demand for efficient freight and logistics solutions escalates. Semi-trailers serve as the backbone of the transportation industry, offering flexibility, reliability, and cost-effectiveness in the movement of goods, thus cementing their prominence in the market segment.

Asia Pacific semi-trailer market will capture a noteworthy share between 2024 and 2032, fueled by rapid industrialization, burgeoning infrastructure development, and the expanding logistics sector across countries like China, India, and Japan. Moreover, increasing international trade and economic growth in the region drive the demand for efficient transportation solutions, further bolstering the market. With its significant contribution to global manufacturing and trade, Asia Pacific will stand as a key contributor to the semi-trailer industry.

Prominent companies operating in the semi-trailer market include leaders, including Schmitz Cargobull AG, Wabash National Corporation, Hyundai Translead, Great Dane Trailers, Utility Trailer Manufacturing Company (UTM), East Manufacturing Corporation, CIMC (China International Marine Containers), and Stoughton Trailers LLC, are operating in the semi-trailer industry.

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These players are strategically investing in research and development to introduce innovative and technologically advanced semi-trailers that meet the evolving customer needs. Additionally, they are focusing on expanding their distribution networks and strengthening their presence in key regions to capture a larger market share. Furthermore, these players are engaging in partnerships and collaborations to leverage complementary strengths and enhance their competitive position in the semi-trailer market.

In July 2022, Ashok Leyland unveiled two new AVTR 4×2 tractor-trailers: the AVTR 4220 with 41.5T GCW and the AVTR 4420 with 43.5T GCW. This marks the company as the first Indian OEM to introduce such models in this segment.

Partial chapters of report table of contents (TOC):

Chapter 1   Methodology & Scope
1.1    Market scope & definition
1.2    Base estimates & calculations
1.3    Forecast calculation
1.4    Data sources
1.4.1    Primary
1.4.2    Secondary
1.4.2.1   Paid sources
1.4.2.2   Public sources
Chapter 2   Executive Summary
2.1    Semi-trailer market 360⁰ synopsis, 2018 – 2032
2.2    Business trends
2.2.1    Total addressable market (TAM), 2024 – 2032
2.3    Regional trends
2.4    Product trends
2.5    Length trends
2.6    Tonnage trends
2.7    Number of axles trends
2.8    End user trends
Chapter 3   Semi-Trailer Industry Insights
3.1    Industry ecosystem analysis
3.2    Suppliers landscape
3.2.1    Component supplier
3.2.2    Manufacturer
3.2.3    Distribution channel
3.2.4    End users
3.3    Technology & innovation landscape
3.4    Profit margin
3.5    Patent analysis
3.6    Key news and initiatives
3.6.1    Partnership/collaboration
3.6.2    Merger/acquisition
3.6.3    Investment
3.6.4    Product launch & innovation
3.7    Regulatory landscape
3.8    Impact forces
3.8.1    Growth drivers
3.8.1.1   Economic growth and trade expansion
3.8.1.2   Growth of e-commerce
3.8.1.3   Integration of advanced technologies, such as telematics and IoT
3.8.1.4   Rising investments in transportation infrastructure
3.8.2    Industry pitfalls & challenges
3.8.2.1   Fluctuations in fuel prices
3.9    Growth potential analysis
3.10    Porter’s analysis
3.11    PESTEL analysis
Chapter 4   Competitive Landscape, 2023
4.1    Introduction
4.2    Company market share, 2023
4.3    Competitive analysis of major market players, 2023
4.3.1    China International Marine Containers (CIMC)
4.3.2    Hyundai Translead
4.3.3    Schmitz Cargobull AG
4.3.4    Stoughton Trailers, LLC
4.3.5    Strick Trailers, LLC
4.3.6    Utility Trailer Manufacturing Company (UTM)
4.3.7    Wabash National Corporation (WNC)
4.4    Competitive positioning matrix, 2023
4.5    Strategic outlook matrix, 2023

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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.