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Semi-Trailer Market Size 2020: Global Projection, Solutions, Services Forecast to 2023

Apr 23rd 2020 at 4:05 AM

Market Synopsis:

The surge in large-format supermarket retailing is bolstering the Semi-Trailer Market Size. Reports that explore the automobile industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is projected to surge with a CAGR of 5.68 % by 2023.

The cold chain industry has grown tremendously, and it has motivated the Semi-Trailer Market Size significantly on the global level. Also, the development of progressive devices is anticipated to encourage the Semi-Trailer Market Size. The market is also anticipated to flourish with the implementation of electronic braking systems in semi-trailers over the forecast period.

Segmental Analysis

The segmentation of the Semi-Trailer Market Size is carried out on the basis of type, tonnage, axle count, and region. Based on the type, the Semi-Trailer Market Size is segmented into tankers, lowboy, dry van, flatbed, refrigerated and others. On the basis of tonnage, the Semi-Trailer Market Size is segmented into 25 t – 50 t, Below 25 t, 51 t – 100 t and Above 100 t. On the basis of axle count, the Semi-Trailer Market Size is segmented into 3–4 axles, <3 axles, >4 axles. Based on region, the Semi-Trailer Market Size is segmented into North America, Europe, Asia Pacific and Rest of the World.

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Detailed Regional Analysis

The regional review of the Semi-Trailer Market Size covers regions such as Europe, Asia Pacific, North America, and Rest of the World. The North American region is anticipated to govern the Semi-Trailer Market Size globally. This is due to factors such as advancing road infrastructure, growing supply chain industry, an overview of government regulations on weight carrying volume and sizes of a semi-trailer.

Competitive Analysis

The market has attained a progressive stride in the past few years, which is underlined by the activities in terms of valuation. The upsurge of sponsors in the market has acquired an indispensable role in the development of the market. The decrease in the barriers to trade is projected to encompass advanced areas for expansion in the impending years. The extension of the resources vital to endure against competition has improved extensively leading to a record development rate. The purpose of appropriately bolstering the global economy is being motivated through the expansion of this market as well. The market is well-armed to find the way through the shifting tides, abrupt upheavals, and uncharted waters in the international economy. The financial inflows in the market are being engrossed towards increasing the discoveries in the essential product offering offered in the market so that the growth doesn’t go off in the forthcoming period.

The foremost firms in the Semi-Trailer Market Size are Schmitz Cargobull (Germany), Kögel Trailer GmbH & Co.KG (Germany), Wabash National Corporation (US), Great Dane Trailers (US), China International Marine Containers (Group) Co. Ltd. (China), Schmitz Cargobull AG (Germany), American Trailer & Storage (U.S.), PACCAR Inc. (U.S.), Utility Trailer Manufacturing Company (the U.S.), and Great Dane Limited Partnership (the U.S).

Industry Updates:

Sep 2019 Faymonville, a specialty trailer producer has lately introduced the payload-optimized VarioMAX Plus low bed trailer line for moving heavyweight construction machines. The recently launched trailer combines the pros of its VarioMAX and CombiMAX systems and is fixed to handle cargos up to 115 US tons at 13-ton axle cargos. The fortes of the VarioMAX Plus low bed semi-trailer sit in its ability to convey elevated payloads, its modular adaptability, and maneuverability.

Apr 2019 Toyota and Kenworth, a truck manufacturer have advanced the concept for a semi-trailer truck powered purely by hydrogen. In the first phase, the trucks, worked by Toyota, UPS, and other transport companies, will pull goods from the L.A. and Long Beach ports throughout the L.A. area, the Inland Empire, the Port of Hueneme, and finally to Merced. In the next phase, Shell will construct hydrogen filling stations in Ontario and Wilmington, California, to offer more prospects for the trucks to refuel. The fuel cell-electric truck (FCET) is built on Kenworth's T680 truck.

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