Semi-Trailer Market by Type, Number of Axles, Tonnage, Length, End-use and Region - Global Forecast to 2025 - ResearchAndMarkets.com

The "Semi-Trailer Market by Type (Flatbed, Lowboy, Dry Van, Refrigerated, Tankers and Others), Number of Axles (&lessThan;3 Axles, 3-4 Axles, and >4 Axles), Tonnage (Below 25T, 25T-50T, 51T-100T, and Above 100T), Length, End-Use and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global semi-trailer market is estimated to be USD 29.5 billion in 2020 and is projected to grow to USD 41.2 billion by 2025, at a CAGR of 5.6%

Expanding cold chain industry, growing FMCG sector and increasing use of advanced technologies such as telematics and stability control are expected to boost the demand for semi-trailer market. However, local players in unorganized sector in developing countries are a restraining factor for global semi-trailer market players. Modern technologies such as semi-trailer platooning and electric semi-trailer truck offer numerous development opportunities in the near future. On the other hand, lightweight semi-trailers and lowering the total cost of ownership (TCO) will be the challenging factors for semi-trailer market in the future.

COVID-19 has had a significant impact on the semi-trailer market. Both the production and sales of new semi-trailers came to a halt across the globe as the whole ecosystem got disrupted. OEMs had to wait until lockdowns were lifted to resume production, which affected their business. Post the pandemic, the demand for new semi-trailers is expected to show an increase as economies are recovering steadily. Nevertheless, another wave of COVID-19 due to newer strains may hamper the recovery in some countries. Subsequently, semi-trailer manufacturers would need to adjust the production volume based on the COVID-19 scenario across different countries.

Growing FMCG industry is likely to drive the semi-trailer market

Currently, companies are focusing on investments in automation of supply chains, expansion of existing manufacturing facilities, and development of warehouse hubs. Further, distribution centers and locations play a vital role in FMCG logistics. Hence, growing transport of goods from manufacturing facilities to warehouses, warehouses to distribution centers, and distribution centers to retail stores will drive the demand for semi-trailers in the FMCG sector. Also, growing acceptance of eCommerce in FMCG will provide opportunities for the growth of the semi-trailer market.

Growing logistics industry to drive the Asia Oceania semi-trailer market

This semi-trailer market in Asia Pacific has experienced significant growth in the past couple of years. The region comprises some of the fastest-growing economies, including India, China, and South Korea. With developments taking place at a fast pace, the logistics sector in this region is growing. High growth of industrialization in these countries offers new opportunities in the semi-trailer market. The increase in the overall industrial production has led to increased freight transportation, fueling the demand for semi-trailers in this region. The region offers better cost advantages related to labor and materials than developed regions. Moreover, government policies in India and China encourage the production of semi-trailers in local markets to satisfy domestic demands. For instance, in 2015 China started Made in China 2025 initiative, aimed towards encouraging the companies in this region to compete with global players. All these factors have led to the increased production volumes over the years, where OEMs not only satisfy domestic demands but also serve developed markets and remain globally competitive.

Technological advancements are a key driver for the European market

The European semi-trailer market is estimated to show steady growth, with Germany and the UK being major performers. Most of the major economies of Europe are expected to have higher business investments in the coming years. This would positively impact the semi-trailer market.

Europe is home to many industries such as electronics equipment, chemicals, automotive, biotechnology, and food & beverage. The continuous growth in these sectors would fuel the market for semi-trailers in the European region. With the development of the latest semi-trailer technologies, such as semi-trailer telematics and temperature monitoring system, the European semi-trailer market is expected to get traction during the coming years. The three German giants-Schmitz Cargobull AG, Fahrzeugwerk Bernard KRONE GmbH, and Kogel Trailer GmbH & Co. KG-not only dominate the European market but are also expanding operations in emerging economies. The semi-trailer market in Germany is expected to see growth in the form of exports and increased production levels in the coming years.

Market Dynamics

• Expanding Cold Chain Industry
• Growth of End-Use Industries

• Local Players in Unorganized Sector

• Semi-Trailer Platooning
• Increasing Use of Advanced Technologies
• Electric Semi-Trailers

• Lowering TCO and Maintenance Cost
• Lightweight Semi-Trailers

Companies Mentioned

• China International Marine Containers
• Dennison Trailers Ltd
• Fahrzeugwerk Bernard Krone
• Felling Trailers
• Great Dane
• Hyundai Translead
• Kassbohrer
• Kentucky Trailers
• Kogel Trailer
• Lamberet
• Montracon
• Pitts Trailers
• Premier Trailers
• Rac Germany
• Satrac
• Schmitz Cargobull
• Sdc Trailers Ltd.
• Stoughton Trailers, LLC
• Utility Trailer Manufacturing Company
• Van Hool
• Vazron
• Wabash National
• Wielton Sa
• Wilhelm Schwarzmueller

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