Market Trends of Europe Light Commercial Vehicle Trailer Industry
This section covers the major market trends shaping the Europe Light Commercial Vehicle Trailer Market according to our research experts:
Curtain Type LCV Trailer Holds a Significant Market Share
The curtain type light commercial vehicle trailer market in Europe was valued at USD 210.31 million in 2019 and is expected to reach USD 263.79 million by 2025, growing at a CAGR of 3.85%.
Curtain type of LCV trailer is the most sold trailer type in the European region. During 2019, the market share by value of curtain type trailers accounted to more than 45% and in terms of volume, curtain type of LCV trailers accounted to 85% (this includes both trucks and vans).
A curtain side is basically a flatbed with an upper structure mounted to the flatbed as a tarping system. The need for flexible, fuel efficient, and the ability to cater to all types of logistics solutions is driving the demand for curtain type light commercial vehicle trailers in the region.
Curtain trailers are suitable for almost all types of cargo, and as such it has become the most common type of transportation in Europe. There are numerous benefits that this type of transportation has in hand both for customers and for trucking companies as well.
The curtain side trailer combine the advantages of a flatbed with the covering and containment benefits of an enclosed trailer. Consisting of durable yet flexible PVC-coated vinyl side curtains which can be retracted from either the front or rear of the trailer, and van-style swinging rear doors, a curtain side totally encloses the load for weatherproof protection and security. First developed in Europe where back-in loading docks are a rarity, curtain sides in North America now haul loads that run the gamut from expensive automobiles, to raw lumber, to delicate manufacturing components.
Germany Dominate the European Market
The German light trailer market, has registered a value of USD 218.09 million in 2019. It is expected to reach USD 271.41 million by 2025, registering a CAGR of 3.71%, during the forecast period.
Germany is a major automobile hub in Europe and is home to many famous auto manufacturers like the Volkswagen Group, BMW Group, Daimler Group, etc.
The country is also a major, if not, the largest producer of trailers in Europe. Germany also holds the largest share in light trailer manufacturing within Europe.
The German trailer manufacturing companies together manufacture more trailers than the demand within the country, hence the country is also a major exporter of trailers.
Companies within Germany like Schmitz Cargobull, Humbaur etc. are some of the major players in the market and are the leaders in heavy trailer and light trailer segment respectively.
Germany is also characterized by many other players who are active in the trailer business. Companies have been innovating and launching new products to stay ahead of their competition, which makes it a highly competitive market.
The impact of Novel Coronavirus can be seen across Germany as well, but not as severe as in Italy or Spain. With the trend in electrification of vehicles going-on, the German trailer manufacturers are expected to be at the forefront in introducing trailers and light trailers for electric vehicles as well, which is expected to drive the market over the forecast period.