Trailers Market: Global Industry Analysis And Forecast (2023-2029)

Trailers Market size was valued at US$ 33.71 Bn. in 2022 and the total Trailers Market revenue is expected to grow at 6% from 2023 to 2029, reaching nearly US$ 50.7 Bn.
Trailers Market Overview:
The sale of trailers and related services by businesses (organisations, sole proprietorships, and partnerships) that produce trailers used for the transportation of materials and goods is the trailers market. The enclosed trailer, dump trailer, tank trailer, and flatbed trailer manufacturers are included in the trailers industry.Transporting goods is done with the help of trailers, which are motorised vehicles that are being towed. Hitch-mounted trailers are pulled by vehicles such as trucks, cars, traction engines, and others.To know about the Research Methodology :- Request Free Sample Report

Economic growth in emerging nations, growing urbanisation in developing economies, and rising global food transportation needs all contributed to growth over the historical period. In the past, factors like rising prices and regulatory pressure from governments had a negative impact on growth. Future growth fueled by the growth of the world's population and the development of e-commerce. Reduced free trade, a lack of truck drivers, and stricter emission rules are some factors that limit the growth of the trailers market in the future.

The report explores the Trailers Market's segments (Type, Interferometer Type, Type, End-Use, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2022. The report investigates the Trailers Market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Trailers Market's contemporary competitive scenario.
Trailers Market Dynamics:
Market drivers:

The market for trailers is being driven by the accelerated urbanisation, particularly in developing nations. The region of East Asia and the Pacific, as well as Sub-Saharan Africa, experienced the biggest increases in urban population during the course of history. Greater urbanisation increased the need for mobility, which in turn raised the need for flatbed and automotive trailers to move cars and motorcycles in large numbers.

The growth of the logistical supply chains as a result of the rising demand for goods from the urban population, particularly for fresh food, supported the demand for trailers. Additionally, in developed nations, road transportation accounted for about 72% of all freight moved across North America each year, making it the primary form of transportation for freight. The demand for trailers has increased as a result of the rapid urbanisation of populations in emerging nations and the tendency for goods to be transported by road in industrialised nations.

One of the major sectors in the world in terms of revenue Typeion is fast-moving consumer goods (FMCG). The Types have a limited shelf life since they include perishable items with high customer demand, like meat, dairy, fruit, and vegetable Types, as well as baked goods. The goods are frequently purchased, quickly eaten, generally inexpensive, and sold in enormous quantities. The FMCG sector is divided into the food and beverage and personal care sectors. Rising incomes, an growing population, brand awareness, supportive laws, and the digitization of the buying process are major FMCG sector drivers. The logistics of FMCG items have changed in tandem with shifting consumer needs in the industry. All of this is encouraging the FMCG business to develop more technologically advanced trailers.

Market restraints:

With rising pricing and regulatory demands, original equipment manufacturers (OEMs) of trailers in developed countries like Europe, North America, Japan, and South Korea were finding it difficult to set themselves apart from rivals. According to a survey by the American management consulting firm McKinsey, the cost of vehicles has essentially remained same since 1998 in real terms, and after accounting for inflation, the net consequence was a decrease in profit per vehicle. OEMs were able to improve quality and efficiency by 4–5 % annually, but stricter emissions and safety rules increased the cost of Typeion for a typical vehicle. Owing to pricing constraints and strict regulatory requirements, the price-cost gap in the trailers business is getting smaller, which is hampers market growth.

Market Opportunities:

In the USA, the trailers market grow the highest. The manufacture of lighter trailers, the use of telematics, the use of innovative materials in the manufacture of trailers, and the use of automation and sensors in dump trailers are some market-trend-based strategies for the trailers market. Investing in R&D to create new trailers and bolstering M&A tactics to grow enterprises in new regions are examples of player-adopted strategies in the trailers market.

Rising incomes, an expanding population, brand awareness, supportive laws, and the digitization of the buying process are major FMCG sector drivers. The logistics of FMCG items have changed in tandem with shifting consumer needs in the industry. All of this is encouraging the FMCG business to develop more technologically advanced trailers.

Market Trends:

As industry rules change, trailer manufacturers are progressively making lightweight trailers. Owing to mounting pressures on trucking companies brought on both rising fuel prices and a more stringent regulatory environment, lighter trailers are becoming more popular. Regulations governing greenhouse gas emissions are forcing trailer makers to assemble more of their Types from lightweight parts. For example, aluminium parts are utilised to reduce the weight of trailers. It saves roughly 30 pounds to utilise an aluminium air tank in a truck trailer rather than a steel one. These smaller trailers help transportation businesses increase fleet safety and efficiency while lowering operating expenses and trailer downtime.

Telematics technology is being included by trailer firms to facilitate efficient management of trailers for clients. Telematics is a technique for keeping an eye on automobiles that records their movements on a digital map using GPS and onboard diagnostics. Data sensors on the trailers that are linked to a modem are how trailer telematics functions. Data from the trailer have tracked, analysed, and used to enhance operational efficiency and traffic safety using GPS and a mobile network. Additionally, it aids trucking companies in maximising the use of trailers. The tyre pressure monitoring system (TPMS), another telematics element, aids in improving fuel efficiency for freight carriers.
Trailers Market Segment Analysis:
Based on Type, The Enclosed Trailers segment is expected to grow at the highest CAGR during the forecast period. Purchasing an enclosed trailer has several advantages. The three that are most frequently used are storage, protection, and security.

Enclosed trailers give you the most storage space possible by having side walls where shelving is puted and a roof from which equipment hang. The fully covered style also shields your belongings from the elements and burglary. Your equipment is shielded from potentially damaging factors such as rain, snow, sun, dirt, and more by enclosed trailers. They additionally offer a higher level of security at the same time. When you lock the doors to your trailer, it makes it very difficult for someone to steal anything from within. Comparatively speaking to other open trailer types, enclosed trailers offer a lot more safety and security.

Based on End-Use, The Logistics is expected to grow at the highest CAGR during the forecast period. Owing to its superior cost benefits over other modes, road transportation is the most popular mode in the logistics industry. Thus, one of the main end markets for vehicle trailers is logistics. In addition, the demand for logistics and supply chain services is rising owing to the quick development of the industrial, agricultural, electronics, textile, and garment industries. Additionally, the majority of businesses rely on third-party logistics Types to reduce fleet investments, staff reductions, and to ensure that different kinds of containers, tanks, and flatbeds are available as needed.

Additionally, owing to the huge growth of e-commerce operations, e-commerce enterprises are more dependent on logistics service Types to assure the transit of goods through warehouse and distribution hub. Owing to the adaptability afforded in terms of load-carrying capacity, logistics organisations, particularly less than truckload (LTL) and full truckload (FTL) freight shipping companies, are increasingly embracing automotive trailers. Additionally, compared to rigid trucks, trailers have the lowest cost of transportation per tonne per km, which is boosting their use in logistical operations.
Trailers Market Regional Insights:
Increased fleet operations result from the North American Free Commerce Agreement (NAFTA), which permits free trade between the US, Canada, and Mexico. As a result of increased corporate activity and consumer expenditure, freight transportation is expected to grow. The major players in the North American trailer market include Wabash, Hyundai Translead, Great Dane, and Utility Trailer. These participants are concentrating on working together to introduce technologically upgraded trailers.

For instance, Wabash National and the all-electric refrigeration technology from eNow and Carrier Transicold partnered to provide environmentally friendly, thermally efficient refrigerated haulage. The customer reduce the number of batteries needed to move goods and extend the runtime of a battery system because to the significant improvement in thermal efficiency. The North American trailer market is now going through its replacement cycle because of the necessity to replace the old trailer population with more modern ones. As a result, it is expected that the North American trailer market rule the industry in terms of value throughout the forecast period.

The most promising construction market is expected to be in Asia Pacific, and this trend is expected to continue in forecast period. The Asia Pacific trailer market is growing as a result of factors including steadily rising infrastructure projects, supporting investments from both local and foreign companies, and favourable trade conditions. The number of dams, airports, and hydropower projects in the area has increased. Songdo International Business District in South Korea, the China-Pakistan Economic Corridor, and Clark Green City in the Philippines are a few of the significant projects propelling the construction equipment industry. The market is driven by these megaprojects, which have increased demand for trailers for the transfer of heavy gear.

The objective of the report is to present a comprehensive analysis of the Trailers Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Trailers Market dynamics, structure by analyzing the market segments and project the Trailers Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence in the Trailers Market make the report investor’s guide.
Trailers Market Scope: Inquire before buying



Trailers Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 33.71 Bn.


Forecast Period 2023 to 2029 CAGR:
6%
Market Size in 2029:
US $ 50.7 Bn.


 Segments Covered:
by Type
Enclosed Trailers
Dump Trailers
Tank Trailers
Flatbed Trailers
Other Trailers


by End-Use
Logistics
Paper And Paper Types
Pharma Drugs
Textile Types
Food and groceries
Agriculture And Farm Types
Petroleum And Petroleum Types
Motor Vehicle And Motor Vehicle Parts
Metal And Minerals
Commercial Machinery
Other Types



Trailers Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Trailers Market Key Players are:
1. Hyundai Motor Company
2. Great Dane LLC
3. Randon SA Implementos E Part
4. EnTrans International, LLC
5. MANAC Inc.
6. CIMS
7. Fujian Chnagchun
8. Shandong Union
9. Shekou Port
10.Hua-Win
11.Cargobull
12.Schmitz
13.Ashok Leyland
14.Tata International
15.Asia Motor Works
16.Satrac
17.Tratec Eng.
18.Mammut Industries
19.Maxi Trans
20.al-Kadi

FAQs:

1. Which is the potential market for the Trailers Market in terms of the region?
Ans. In Asia Pacific region, the growing business and educational sectors are expected to help drive the use of collaborative screens.

2. What are the opportunities for new market entrants?
Ans. The key opportunity in the market is new initiatives from governments that provide funding for Trailers Markets in educational institutes

3. What is expected to drive the growth of the Trailers Market in the forecast period?
Ans. A major driver in the Trailers Market is the prevalence of work from home and remote collaboration created by the COVID-19 pandemic

4. What is the projected market size & growth rate of the Trailers Market?
Ans. Trailers Market size was valued at US$ 33.71 Billion in 2022 and the total Trailers Market revenue is expected to grow at 6% through 2023 to 2029, reaching nearly US$ 50.7 Billion.

5. What segments are covered in the Trailers Market report?
Ans. The segments covered are Type, End-Use and, Region.