New York, United States, April 05, 2023 (GLOBE NEWSWIRE) -- The Global Semi-Trailer Market Size is to grow from USD 31.45 billion in 2021 to USD 45.84 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 5.28% during the forecast period. The increasing use of semi-trailer in various vehicle types such as heavy industry, FMCG, textile industry, chemical, automotive, oil & gas, food & beverage, healthcare, logistics, and others will boost the demand for the semi-trailer market.
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A semi-trailer, often known as a semi-trailer truck, is a type of transport vehicle that consists of a trailer and one or more semi-trailers. Semi-trailers are frequently employed as part of local or worldwide transportation infrastructure to enable intermodal freight shipment. Several rail flatbed train carriages have been converted to carry freight trailers or containers with or without wheels. Semi-trailers come in a variety of configurations, including vans, reefers, flatbeds, sidelifts, and tankers. The volume of demand for freight trailers and trucks is steadily increasing. As a result of the rapid growth of facilities and infrastructure, the need for highway transportation has expanded, hence expanding the semi-trailer market. The key drivers of the semi-trailer market are predicted to be exponentially developing modernization, increasing rapid industrialization, and the importance of transportation infrastructure. Additionally, the growth of end-use industries, as well as the increasing cold storage facilities industry, is likely to drive semi-trailer market sales trends during the projection period.
Browse key industry insights spread across 200 pages with 123 market data tables and figures & charts from the report on "Global Semi-Trailer Market Size, Share, and COVID-19 Impact Analysis, By Type (Flatbed, Lowboy, Dry Van, Refrigerated, Tankers, Others), By Tonnage (Below 25 T, 25 T-50 T, 51 T-100 T, Above 100 T), By End-Use and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030." Get Detailed Report Description Here:
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The dry van segment accounted the largest market share over the forecast period.
On the basis of type, the global Semi-Trailer market is segmented into flatbed, lowboy, dry vans, refrigerated, tankers, and others. Among these, the dry van segment is dominating the market and is going to continue its dominance over the forecast period, owing to the wide range of adoption by various industries. The dry vans are primarily utilized to transport freight that has to be insulated from adverse weather and road conditions.
The below 25 T segment is dominating the market with the largest revenue share over the forecast period.
On the basis of tonnage type, the global Semi-Trailer market is segmented into below 25 T, 25 T-50 T, 51 T-100 T, and above 100 T. Among these, the below 25 T segment is dominating the market with the largest revenue share of 32.7% over the forecast period. It has become the most common tonnage type utilized in semi-trailer transport systems. This tonnage class includes dry vans, refrigerated semi-trailers, and tankers. Additionally, the portion below 25 T adheres to legally permissible limitations globally.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 56.8% market share over the forecast period. One of the main drivers propelling the semi-trailer market in the Asia Pacific area is the increased investment in inland transportation and infrastructure, as well as the growth of the industrial and construction sectors and the quickly rising demand from logistic and e-commerce enterprises.
In contrast, North America is anticipated to expand at the fastest rate during the projection period because the region has a significant logistical industry. The semi-trailer market in North America is being driven by improved road and transportation infrastructure, which is promoting improved road connectivity.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Semi-Trailer Market include Satrac, Montracon, MANAC INC., Schmitz Cargobull AG, Utility Trailer Manufacturing Company, Wabash National Corporation, China International Marine Containers, Kogel Trailer GmbH & Co.KG, HYUNDAI TRANSLEAD, Fontaine Commercial Trailer, Inc., Dennison Trailers Ltd., Rac Germany, Kassbohrer, Great Dane, ChassisKing, Inc., Shandong Arima group, Polar Tank Trailer, LLC, Krone Commercial Vehicle Group, Schwarzmüller Group, and many others.
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Key Market Developments
On March 2023, TQM, a Czech freight and transportation and logistics provider, is increasing its fleet, and the internationally active transportation company has acquired Kögel Mega trailers to that goal. TQM selected Kögel trailers because of their outstanding durability and reliability, in addition to their transportation efficiency benefits. As a result, based on the various national legal requirements, current fifth-wheel heights for low-deck semi-trailer trucks can be driven.
In November 2021, Schmitz Cargobull introduced the S. KO PACE SMART box body semi-trailer. The lightweight panels are utilized to construct trailers that are significantly lighter than competitors. This will also significantly reduce carbon emissions over the trailer's lifetime, which operators may expect to, translate into lower fuel bills.
In March 2021, Supreme Industries, Inc., a manufacturer of truck bodywork and specialty vehicles, has been acquired by Wabash National Corporation, a leading manufacturer of semi-trailers and liquid transportation systems. Wabash's product line is expanded, and the company's position as a leading producer of commercial vehicles and transport solutions is strengthened.
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