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The Semi-trailer Market is Segmented by Vehicle Type (Lowboy, Flatbed, Refrigerated, Dry Van, and Other Vehicle Types), by Foot Length (28-45 Foot and Greater than 45 Foot), and Geography.
2018 - 2026
Fastest Growing Market:
The semi-trailer market is expected to register a CAGR of over 5% during the forecast period, 2020-2025.
The semi-trailer market has been segmented by vehicle type and foot length.
|Other Vehicle Types|
|Greater than 45 Foot|
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A refrigerated semi-trailer is designed to carry goods at a specific temperature. These vehicles are equipped with any mechanical refrigeration systems, powered by small displacement diesel engines, and utilize carbon dioxide as a cooling agent. The demand for frozen food products across the country has been increasing over the past five years. This spike has laid roots for the demand for refrigerated semi-trailers.
Great Dane Trailers, Wabash National, Schmitz Cargobull, Utility Trailer Manufacturing, Kogel Trailer GmbH, and Krone GmbH are the major players that dominated the refrigerated trailer market during 2019. The key focus of these companies is to design and develop refrigerated trailers with advanced technology and improved operational efficiency. In addition to this, third-party logistics service providers are increasing their trailer feet, due to the increasing demand for refrigerated trailers.
The companies are collaborating and developing technologically advanced products. For instance;
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Asia-Pacific is the largest market for semi-trailers and is expected to grow at the fastest pace during the forecast period, followed by North America. The growth is primarily contributed by the increase in inland transportation, rising investments in infrastructure and construction activities, and continually increasing demand from the logistics sector.
Most of the heavy commercial vehicles in India are outdated and are due for replacement. Stringent emission norms will result in high replacement demand, driving the growth in the semi-trailer market.
Furthermore, the United States has witnessed positive growth in the commercial vehicle sales during 2015-2018, majorly owing to their growing operations in the e-commerce and logistics sectors.
Mexico, on account of increased exports and expanded domestic market, witnessed the fastest growth rate. The majority of the transportation in the energy, construction, automotive, and manufacturing sector happens through the road; semi-trailers, and due to their flexibility and versatility, they are more popular than full trailers, and are considered as the viable option.
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Great Dane LLC, Wabash National Corporation, KRONE GMBH & CO. KG, Utility Trailer Manufacturing Company, China International Marine Containers (Group) Ltd., and Schmitz Cargobull AG are the major players operating in the semi-trailer market.
The manufacturers of semi-trailers are developing and adopting advanced technologies, in order to enhance the efficiency of the vehicle. For instance; Ekeri, a Finland-based company, has developed a side opening design for a semi-trailer, which is likely to save 30 minutes on each daily run. Similarly, Kässbohrer, a German-based company, recently launched 18 new models of semi-trailers across four product groups, in response to the changing trends in the industry, and to cater to the exact requirements of its customers.
Utility Trailer Manufacturing Company is the oldest, privately owned, family-operated trailer manufacturer, and the largest producer of refrigerated vans, in the United States. During 2018, the company built around 47,000 trailers.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Vehicle Type
5.1.4 Dry Van
5.1.5 Other Vehicle Types
5.2 Foot Length
5.2.1 28-45 Foot
5.2.2 Greater than 45 Foot
5.3.1 North America
22.214.171.124 United States
126.96.36.199 Rest of North America
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 Rest of Asia-Pacific
5.3.4 Rest of the World
18.104.22.168 South America
22.214.171.124 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 East Manufacturing Corporation
6.2.2 Hyundai Translead
6.2.3 Kentucky Trailer
6.2.4 Mac Trailer Manufacturing Inc.
6.2.5 Manac Inc.
6.2.6 Wabash National Corporation
6.2.7 Great Dane LLC
6.2.8 Pitts Trailers
6.2.9 Premier Trailer Mfg Inc.
6.2.10 China International Marine Containers (Group) Ltd
6.2.11 Schmitz Cargobull AG
6.2.12 KRONE GMBH & CO. KG
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability