https://www.acumenresearchandconsulting.com/
Home Services Industry Services Press Releases About Us Blogs Report Store Contact us

Semi-Trailer Market Size - Global Industry, Share, Analysis, Trends and Forecast 2024 - 2032

Published : Oct 2024

Report ID: ARC1193

Pages : 250

Format : Semi-Trailer Market Size - Global Industry, Share, Analysis, Trends and Forecast 2024 - 2032

The Global Semi-Trailer Market Size accounted for USD 26.3 Billion in 2023 and is estimated to achieve a market size of USD 40.6 Billion by 2032 growing at a CAGR of 5.1% from 2024 to 2032

Semi-Trailer Market Highlights

  • Global semi-trailer market revenue is poised to garner USD 40.6 billion by 2032 with a CAGR of 5.1% from 2024 to 2032
  • Asia-Pacific semi-trailer market value occupied around USD 10 billion in 2023
  • Asia-Pacific semi-trailer market growth will record a CAGR of more than 6% from 2024 to 2032
  • Among product type, the dry van sub-segment generated USD 9.7 billion revenue in 2023
  • Based on length, the above 45 feet sub-segment generated significant semi-trailer market share in 2023
  • Development of electric semi-trailers is a popular semi-trailer market trend that fuels the industry demand

Semi-Trailer Market Dynamics

The semi-trailer has seen continuous growth in the freight transportation industry. The increase in stringent regulations mandates the semi-trailer that combines low rolling resistant tires and aerodynamics which offers improved efficiency and safety measures. This will have appositive impact that will help to reduce the carbon footprint in the trucking industry and improve fuel efficiency. The key manufacturers are focusing on developing advanced semi-trailer that will drive the efficiency of the tractor-trailer combination. For instance, many tractor manufacturers and trailer OEMs are collaborating in order to develop an integrated efficiency combination. Moreover, China has also implemented regulations for semi-trailers that are focused on safety which will have a positive step in boosting the demand for semi-trailers. The evolution of traditional trailer to customized trailer-tractor integration and introduction in trailer telematics drives the demand for semi-trailer in the upcoming years.

Global Semi-Trailer Market Dynamics

Market Drivers

  • Rising demand for logistics and transportation
  • Increasing e-commerce activities
  • Expanding construction and infrastructure projects
  • Advancements in semi-trailer technology

Market Restraints

  • High maintenance costs
  • Fluctuating raw material prices
  • Stringent government regulations

Market Opportunities

  • Growing use of autonomous vehicles
  • Expanding cold chain logistics
  • Increasing demand for lightweight trailers

Semi-Trailer Market Report Coverage

Market Semi-Trailer Market
Semi-Trailer Market Size 2022

USD 26.3 Billion

Semi-Trailer Market Forecast 2032 USD 40.6 Billion
Semi-Trailer Market CAGR During 2023 - 2032 5.1%
Semi-Trailer Market Analysis Period 2020 - 2032
Semi-Trailer Market Base Year
2022
Semi-Trailer Market Forecast Data 2023 - 2032
Segments Covered By Product Type, By Tonnage, By Length, By Axles, By End-use Industry, And By Geography
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled Fontaine Trailer, Qingdao CIMC Special Vehicles Co., Ltd, Great Dane A Division of Great Dane LLC., KRONE Trailer, Kögel, LAMBERET SAS, Schmitz Cargobull., Polar Tank Trailer., Utility Trailer Manufacturing Company, HYUNDAI TRANSLEAD, and Wabash National Corporation.
Report Coverage
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis

Semi-Trailer Market Insights

Growing urbanization and increase in awareness about energy efficient products is the driving force for the growth of the Semi-trailer market. Also, governments stringent regulation and low emission policies across the globe encourage the usage of semi-trailers that integrates low rolling resistant tires and aerodynamics that helps in fuel savings as well as reduce carbon emissions which are the key factors driving the growth of the global semi-trailer market.

Technologies for instance, Telematics, electrification, digitalization and autonomous driving are renovating and transforming the semi-trailers. The evolution of digital technologies will create new opportunities such as advanced trailer telematics and AI-based optimization will lower congestion, utilization and costs. Rise in global population is one of the factors that is expected to boost the growth of the global industry over the semi-trailer market forecast period.

Additionally, the continuous innovation in tire technologies is progressing rapidly that gives rise to introduction of various and there are many trailer tire models that provide low rolling resistance that offers improved fuel efficiency by reducing the usage of fuels in trailers. The advanced semi-trailer is introduced by combining low rolling resistant tires and aerodynamics which is projected to offer growth avenues for the market expansion and to tap new business opportunities. Whereas poor road infrastructure integrated with lack of intent to improve transport facilities is expected to be one of the restraining factor for freight transportation that can directly have a negative impact on the growth of the semi-trailer market. Also, the key players in the semi-trailer market are focused on investing in research and development in order to offer improved efficiency that helps in reducing carbon footprint which is a major factor bolstering the growth of the global semi-trailer market.

Semi-Trailer Market Growth 2024 - 2032

Semi-Trailer Market Segmentation

The worldwide market for semi-trailer is split based on product type, tonnage, length, axles, end-use industry, and geography.

Semi-Trailer Product Types

  • Dry Van
  • Flatbed Trailer
  • Refrigerated Trailer
  • Dump Trailer
  • Tankers
  • Curtain Trailer
  • Others

Based on product type, the global semi-trailer market can majorly be segmented into fivesub-segment, which are dry van, refrigerated trailer, flatbed trailer, dump trailer, and curtain trailer. The dry van segment is expected to dominate the global semi-trailer market due to the extensive usage in countries such as the U.S and Mexico. There are various advantages of dry vans as compared to other trailer type segments such as the dry van trailer helps in protecting the goods from bad weather and robbery. Also, the curtain trailer is the most attractive semi-trailer due to its cost effectiveness and the high efficiency of loading and unloading of freight.

Semi-Trailer Tonnages

  • Below 25 Tons
  • Between 25-50 Tons
  • Between 50-100 Tons
  • Above 100 Tons

According to the semi-trailer industry analysis, the segment weighing less than 25 tons is predicted to have the largest market share. The expansion of the below 25 tons semi-trailer category is driven by cheaper costs, as well as the fact that it is frequently utilized for transportation, such as tankers, dry vans, and refrigerated semi-trailers. On the other hand, the 25 to 50 tons subsegment is expected to rise throughout the semi-trailer industry forecast period. This growth was driven by rising demand for commodities transportation.

Semi-Trailer Lengths

  • Above 45 feet
  • Up to 45 feet

The above 45 feet segment of the semi-trailer market is a prominent category because to its rising adoption in heavy-duty and long-haul transportation. These larger trailers are popular because they can carry heavier loads, making them perfect for industries like logistics, construction, and automotive. As the demand for efficient and large-scale transportation increases, particularly with the advent of e-commerce and worldwide trade, longer trailers provide a cost-effective answer by lowering the number of trips required to move goods. Furthermore, advances in trailer technology, such as lightweight materials and enhanced aerodynamics, have made the "Above 45 feet" segment even more appealing to enterprises looking to increase operating efficiency and minimize fuel consumption.

Semi-Trailer Axles

  • Less than 3 Axles
  • 3 to 4 Axles
  • 4 Axles

The 3 to 4 axles section emerges as a significant participant, owing to its balance of load capacity and regulatory compliance. These trailers provide superior stability and support, making them perfect for delivering a wide range of commodities over medium to long distances. Construction, agriculture, and logistics industries frequently use this arrangement because it provides adequate load-bearing strength while not exceeding regulatory weight limits in many countries. Furthermore, the 3 to 4 axle trailers are versatile, capable of successfully transporting both large and light loads. This adaptability, combined with their broad application in a variety of industries, makes the "3 to 4 Axles" segment a critical driver to market growth, particularly as freight transportation expands globally.

Semi-Trailer End-use Industries

  • Food & Beverages
  • Construction
  • Healthcare
  • Oil & Gas
  • Heavy Industry
  • Textiles
  • Others

The food & beverages category dominates the semi-trailer market due to semi-trailers vital role in delivering perishable and temperature-sensitive items. This business relies significantly on refrigerated and insulated trailers to enable the safe and efficient transportation of items such as dairy, meat, and beverages over long distances. With a rising emphasis on fresh and frozen food supply chains, particularly in e-commerce and retail, the demand for dependable transportation solutions is increasing. The food & beverages industry is a dominating player in this market since it relies on semi-trailers for both domestic and international distribution.

Semi-Trailer Market Regional Outlook

North America

  • U.S.
  • Canada

Europe

  • U.K.
  • Germany
  • France
  • Spain
  • Rest of Europe

Asia-Pacific

  • India
  • Japan
  • China
  • Australia
  • South Korea
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

The Middle East & Africa

  • South Africa
  • GCC Countries
  • Rest of the Middle East & Africa (ME&A)

Semi-Trailer Market Drivers

Semi-Trailer Market Regional Analysis

Asia Pacific is largest region also it is projected to grow with fastest CAGR during the semi-trailer industry forecast period due to the improvement in road infrastructure, industrial expansion, and rapid urbanization. China holds major share in the semi-trailer market in Asia Pacific region as it is one of the leading exporter across the globe that transports freights in large numbers. Also, the increase in stringent government regulations to promote usage of fuel efficient semi-trailers is projected to drive the growth of the market.

The presence of improved road infrastructure and prominent trucking industry in U.S in the North America region is the second largest region for the growth of the semi-trailer market. There is extensive usage of semi-trailers in food & beverages industry in mainly North America and Europe region. Also, stringent government norms, increasing usage in food & beverages industry, and incorporation of telematics in semi-trailer are the factors expected to drive the market in these regions.

Semi-Trailer Market Players

Some of the top semi-trailer companies offered in our report includes Fontaine Trailer, Qingdao CIMC Special Vehicles Co., Ltd, Great Dane A Division of Great Dane LLC., KRONE Trailer, Kögel, LAMBERET SAS, Schmitz Cargobull., Polar Tank Trailer., Utility Trailer Manufacturing Company, HYUNDAI TRANSLEAD, and Wabash National Corporation.

Frequently Asked Questions

How big is the semi-trailer market?

The semi-trailer market size was valued at USD 26.3 billion in 2023.

What is the CAGR of the global semi-trailer market from 2024 to 2032?

The CAGR of semi-trailer is 5.1% during the analysis period of 2024 to 2032.

Which are the key players in the semi-trailer market?

The key players operating in the global market are including Fontaine Trailer, Qingdao CIMC Special Vehicles Co., Ltd, Great Dane A Division of Great Dane LLC., KRONE Trailer, Kögel, LAMBERET SAS, Schmitz Cargobull., Polar Tank Trailer., Utility Trailer Manufacturing Company, HYUNDAI TRANSLEAD, and Wabash National Corporation.

Which region dominated the global semi-trailer market share?

Asia-Pacific held the dominating position in semi-trailer industry during the analysis period of 2024 to 2032.

Which region registered fastest CAGR from 2024 to 2032?

Asia-Pacific region exhibited fastest growing CAGR for market of semi-trailer during the analysis period of 2024 to 2032.

What are the current trends and dynamics in the global semi-trailer industry?

The current trends and dynamics in the semi-trailer industry include rising demand for logistics and transportation, increasing e-commerce activities, expanding construction and infrastructure projects, and advancements in semi-trailer technology.

Which product type held the maximum share in 2023?

The dry van product type held the maximum share of the semi-trailer industry.

Select Licence Type

Single User

US$ 4500

Multi User

US$ 7000

Excel Datapack

US$ 2000

Why Acumen Research And Consulting

100%

Customer Satisfaction

24x7

Availability - we are always there when you need us

200+

Fortune 50 Companies trust Acumen Research and Consulting

80%

of our reports are exclusive and first in the industry

100%

more data and analysis

1000+

reports published till date