Newark, Sept. 10, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1.64 billion in 2023 global light car trailers market will reach USD 2.55 billion in 2033. A car transport trailer, also known as a car-carrying trailer, car carrier, or car transport trailer, is designed to efficiently transport vehicles via truck. These trailers, which are typically unpressurized and towed by a powered vehicle, come in various forms. Light car trailers are commonly used to transport lightweight automobiles and are popular for recreational purposes, such as vacations and outdoor activities. They can also be employed to transport goods, bicycles, and boats, both domestically and internationally.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $ 1.64 billion |
| Market Size in 2033 | $ 2.55 billion |
| CAGR | 4.5% |
| No. of Pages in Report | 150 |
| Segments Covered | Type, Design, Regions |
| Drivers | Rising growth of tourism industry |
| Opportunity | Growth in technology |
| Restraints | Covid-19 Impact |
Key Insight of the Global Car trailers Market
North America will dominate the market during the forecast period.
The region's growing tourism industry and increased buying power contribute to a rising demand for light car trailers. North America's robust tourism sector is expected to drive market expansion in this region.
In 2023, the utility light car trailers segment dominated the market with the largest market share of 53.3% and revenue of 0.87 billion.
The type segment is divided into recreational light car trailers and utility light car trailers. In 2023, the utility light car trailers segment dominated the market with the largest market share of 53.3% and revenue of 0.87 billion.
In 2023, the open light car trailers segment dominated the market with the largest market share of 55% and revenue of 0.90 billion.
The design segment is divided into enclosed light car trailers and open light car trailers. In 2023, the open light car trailers segment dominated the market with the largest market share of 55% and revenue of 0.90 billion.
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Market Dynamics
Driver: Growth of the Tourism Industry.
As disposable incomes rise and travel becomes more popular, the demand for light car trailers is increasing. These trailers offer significant carrying capacity, making them ideal for transporting various items and providing additional space for travel. Light car trailers offer an affordable way to transport goods and materials, including freight, consumer items, and building materials. The growth in personal vehicle sales and the desire for enhanced travel comfort are also driving market expansion. Innovations and research in trailer design are further contributing to market growth.
Restraints: Impact of COVID-19.
The pandemic led to lockdowns and restrictions worldwide, affecting income levels and reducing automobile and tourism sales. Health and safety measures, such as social distancing and crowd control, have significantly impacted both the automotive and tourism sectors, hindering the growth of the light car trailer market.
Opportunities. Technological Advancements.
Innovations in trailer technology and improvements in features such as parallel parking for trailers present opportunities for market growth. Advancements in trailer design and functionality could enhance the appeal and efficiency of light car trailers.
Challenges: Fuel Efficiency.
Light car trailers, being unpressurized and adding extra load, can reduce the fuel efficiency of the towing vehicle. Rising fuel prices and additional costs associated with increased fuel consumption may impact market growth. Additionally, stricter labour regulations, increased recreational time, and rising discretionary spending could negatively affect the market.
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Some of the major players operating in the global light car trailers market are:
• Aluma, Ltd.
• Doepker Industries
• ATC Trailers
• Felling Trailers
• Fruehauf
• East Manufacturing Company
• Fontaine Trailer Company
• Great Dane
• Pace American
• WOODFORD TRAILERS LTD
• Heil Trailer International
• FUTURA TRAILERS USA
• Haulmark
• Kaufman Trailers
• SylvanSport, LLC.
Key Segments covered in the market:
By Type
• Recreational Light Car Trailers
• Utility Light Car Trailers
By Design
• Enclosed Light Car Trailers
• Open Light Car Trailers
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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