Semi-trailer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Semi-trailer Market is segmented by Vehicle Type (Lowboy, Flatbed, Refrigerated, Dry Van, and Other Vehicle Types), Tonnage (Below 25 T, 25 T-50 T, 51 T-100 T, and Above 100 T), Foot Length (28-45 Foot and Greater than 45 Foot), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers the market size and forecast for the semi-trailer market in value (USD billion) for all the segments mentioned above.

Semi-trailer Industry Overview

Semi-trailer Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia-Pacific
Largest Market: Asia-Pacific
CAGR: > 5.3 %

Major Players

Semi-trailer Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Semi-trailer Market Analysis

The semi-trailer market was valued at over USD 29.8 million in 2021, and it is expected to reach a value of USD 42.8 million by 2027, registering a CAGR of over 5.3% during the forecast period.

The market was negatively impacted by COVID-19 in 2021. This resulted in reduced industrial production. Subsequently, this instigated low demand for semi-trailers. Equally, sales and production of the semi-trailers lowered as the global supply chain of the market got disrupted. For instance, a well-known manufacturer of semi-trailers in Europe, Schmitz's, saw a decline of 28% for units manufactured in 2019-2020. The lesser hours of production have impacted the overall production rate of the company, ensuing in losses in that quarter.

Over the medium term, the growing usage of alternative fuels is likely to propel the growth prospects for the semi-trailer market over the forecast period. Semi-trailer manufacturers are adopting and developing cutting-edge technologies to augment the efficiency of vehicles. For instance, Ekeri, a Finland-based company, developed a side opening design for a semi-trailer, which is expected to save 30 minutes on each daily run. Likewise, Kässbohrer, a Germany-based company, lately launched 18 latest models of semi-trailers across four product groups in retort to the changing trends in the industry to accommodate the exact requirements of the consumers.

Most of the transportation in the manufacturing, automotive, construction, and energy sectors happens through roads and trailers, owing to their versatility and flexibility. Semi-trailers are more popular than full trailers.

Semi-trailer Industry Segments

A semi-trailer is a sort of a trailer that does not have the grouping of one or more trailers, or any shaft that is used to transport carriage is called a semi-trailer. Semi-trailers are generally used in the industries such as food and beverages, oil and gas, medical, and construction.

The semi-trailer market is segmented by vehicle type (lowboy, flatbed, refrigerated, dry van, and other vehicle types), tonnage (below 25 T, 25 T-50 T, 51 T-100 T, and above 100 T), foot length (28-45 foot and greater than 45 foot), and geography (North America, Europe, Asia-Pacific, and Rest of the World).

By Vehicle Type
Lowboy
Flatbed
Refrigerated
Dry Van
Other Vehicle Types
By Tonnage
Below 25 T
25 T-50 T
51 T-100 T
Above 100 T
By Foot Length
28-45 Foot
Greater than 45 Foot
By Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Rest of the World
South America
Middle-East and Africa

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Semi-trailer Market Trends

This section covers the major market trends shaping the Semi-trailer Market according to our research experts:

The Augmenting European Logistics Sector

In the European Union, approximately 75% of all inland freight was moved via roads in 2020. In 2019, freight was transported across around 1.7 trillion kilometers across European roads. In recent years, the share of road freight increased incrementally while rail transportation declined.

Most of the freight transport in Europe is done by road transportation. According to Eurostat, over 75% of inland cargo transports within the European Union, i.e., about 1,750 billion metric ton-kilometer (tkm), travel by road. In some European territories, this percentage is as high as 90%, or even more.

The crucial factor driving the growth of the market is the boosted inclination for semi-trailers for logistics. Furthermore, the promptly growing e-commerce in Europe signifies a central pillar for the single digital market and indicates the developments in the e-tailing sector, which is perceiving the expansion of well-organized retail spaces. As the e-commerce industry grows across Europe, the demand for a more developed distribution network is on the rise. As the market persists to increase, the demand for all types of semi-trailers is also expected to rise, as freight transportation in Europe (between 50 km and 1,999 km) accounted for 89.1% of the global freight transportation industry in 2018. The majority of the vehicles are utilized by commercial fleet operators, including courier services, postal services, and e-commerce delivery services.

Additionally, due to environmental concerns, a trend toward the electrification of the commercial fleet was witnessed in the European Union, with some companies, like Hermes, Harrods, FedEx, and DHL, converting to electric light commercial vehicles. Also, Mercedes is proposing to enter the electric van market by launching electric vans for the German logistics firm Hermes. In one such move, the German postal service, DHL, engineered its electric vehicle for e-commerce operations in the country.

Semi-Trailer Market, Revenue Share (%), By Vehicle Type, 2020

Asia-Pacific is Expected to be Dominate the Market Over the Forecast Period

Asia-Pacific is the largest market for semi-trailers, and it is expected to grow at the fastest pace beyond 2020, followed by North America. The growth is mainly influenced by the surge in construction activities, rising investments in infrastructure and inland transportation, and persistently growing demand from the logistics sector.

Several heavy commercial vehicles in India are outmoded and need replacement. Stringent emission norms are expected to result in a rise in the demand for replacements, thereby fuelling the growth in the Indian semi-trailer market.

China is the world’s leading producer of minerals, such as rare earth minerals, gold, and coal, and it is one of the biggest consumers of coal, with a consumption of 81.67 exajoules in 2019. China accounted for approximately 51.7% of the world’s coal consumption in 2019. Currently, with a total coal mining capacity was of 4.07 billion tons in 2021, the country is supporting and helping the demand throughout several locations of the world.

In June 2020, the National Energy Administration (NEA) approved two new coal mine projects, with a total investment of USD 566 million in the north-western regions of Xinjiang and Gansu and a combined annual capacity of 3.6 million tons. In 2019, China was the world’s top importer of refined and crude oil, with a total of USD 226 billion (13.5%) of the world’s imports.

Additionally, the demand for coal mining in China has increased drastically owing to the country's building new thermal power plant projects. Although several small players operate in China, the incompetence of these players to buy new equipment drives them to rent equipment for numerous projects and return it to the suppliers owing to the shortage of required capital.

Semi-Trailer Market - Growth Rate by Region. 2021 - 2026

Semi-trailer Market Competitor Analysis

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 expanding and producing more trailers owing to increasing demand. For instance,

In November 2021, Great Dane LLC planned to expand with an investment of USD 50 million in Vigo County, United States. This expansion will be of investment in new equipment in addition to developing its manufacturing facility.

Utility Trailer Manufacturing Company is the family-operated, privately owned, oldest trailer manufacturer and the largest manufacturer of refrigerated vans in the United States. In 2019, the company built around 52,000 trailers.

Semi-trailer Market Top Players

  1. Schmitz Cargobull AG

  2. Utility Trailer Manufacturing Company

  3. China International Marine Containers (Group) Ltd

  4. Fahrzeugwerk Bernard KRONE GmbH & Co. KG

  5. Wabash National

*Disclaimer: Major Players sorted in no particular order

Semi-trailer Market Concentration

Semi-trailer Market Recent Developments

In November 2021, Schmitz Cargobull launched S. KO PACE SMART, a new box body semi-trailer. The lightweight panels are used for building trailers which are far lesser in weight than competitors. This will also drastically lower carbon emissions over the lifetime of the trailer, through which operators can assume to convert into lower fuel bills.

In October 2021, Krone and Trailer Dynamics announced a strategic partnership. The goal of this partnership is to build an electrified trailer that substantially lowers the CO2 and diesel emissions of diesel semi-trailers and boosts the range of BEV semi-trailers.

In October 2020, Sandia National Laboratories revealed this month that it strapped rockets to a semi-truck and slammed it into the lab's new nuclear weapons transporter. The experiment was conducted this summer and was designed to test the reliability of the new Mobile Guardian Transporter, a third-generation truck built to move nuclear weapons and materials safely.

In April 2020, Tesla stated it is expected to release semi-trailers to the public by 2021. Companies, including Pepsi Co. and Walmart, among others, have already placed orders for electrified semi-trailers.

Semi-trailer Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Buyers/Consumers

      2. 4.3.2 Bargaining Power of Suppliers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Vehicle Type

      1. 5.1.1 Lowboy

      2. 5.1.2 Flatbed

      3. 5.1.3 Refrigerated

      4. 5.1.4 Dry Van

      5. 5.1.5 Other Vehicle Types

    2. 5.2 By Tonnage

      1. 5.2.1 Below 25 T

      2. 5.2.2 25 T-50 T

      3. 5.2.3 51 T-100 T

      4. 5.2.4 Above 100 T

    3. 5.3 By Foot Length

      1. 5.3.1 28-45 Foot

      2. 5.3.2 Greater than 45 Foot

    4. 5.4 By Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 South Korea

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 South America

        2. 5.4.4.2 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles*

      1. 6.2.1 East Manufacturing Corporation

      2. 6.2.2 Hyundai Translead

      3. 6.2.3 Kentucky Trailer

      4. 6.2.4 Mac Trailer Manufacturing Inc.

      5. 6.2.5 Manac Inc.

      6. 6.2.6 Wabash National Corporation

      7. 6.2.7 Great Dane LLC

      8. 6.2.8 Pitts Trailers

      9. 6.2.9 Premier Trailer Mfg. Inc.

      10. 6.2.10 China International Marine Containers (Group) Ltd

      11. 6.2.11 Schmitz Cargobull AG

      12. 6.2.12 Krone GmbH & Co. KG

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Semi-trailer Market Research FAQs

The Semi-trailer Market is studied from 2018 - 2028.

The Semi-trailer Market is growing at a CAGR of >5.3% over the next 5 years.

The Semi-trailer Market is valued at 31 Billion USD in 2018.

The Semi-trailer Market is valued at 42 Billion USD in 2028.

Asia-Pacific is growing at the highest CAGR over 2018 - 2028.

Asia-Pacific holds highest share in 2021.

Schmitz Cargobull AG, Utility Trailer Manufacturing Company, China International Marine Containers (Group) Ltd, Fahrzeugwerk Bernard KRONE GmbH & Co. KG, Wabash National are the major companies operating in Semi-trailer Market.

Semi-trailer Industry Reports

In-depth industry statistics and market share insights of the Semi-trailer sector for 2020, 2021, and 2022. The Semi-trailer research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Semi-trailer report PDF.

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