The semi-trailer global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Semi Trailer Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The semi-trailer market size has grown strongly in recent years. It will grow from $29.4 billion in 2023 to $31.73 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to freight transportation demand, infrastructure development, economic growth, e-commerce boom, global trade expansion.
The semi-trailer market size is expected to see strong growth in the next few years. It will grow to $42.29 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to sustainable transportation, digitalization in logistics, last-mile delivery solutions, infrastructure investments, autonomous freight transportation. Major trends in the forecast period include advanced technologies, electric and hybrid semi-trailers, connectivity and iot integration, automation and autonomous features, advanced safety features.
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Scope Of Semi Trailer Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The rise in urbanization is expected to propel the growth of the semi-trailer market going forward. Urbanization is the process by which cities develop and a rising proportion of the population moves there to live. Semi-trailers help in the transportation of goods and for carrying a large proportion of cargo, raw materials, and finished products, as a result, rising urbanization increases the demand for the semi-trailer market. For instance, according to the World Bank, globally, over 50% of the population lives in urban areas today. By 2045, the world’s urban population will increase by 1.5 times to 6 billion . Therefore, rising urbanization is driving the semi-trailers market.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The semi-trailer market covered in this report is segmented –
1) By Type: Flatbed, Lowboy, Dry Van, Refrigerated, Tankers, Other Types
2) By Length: Up To 45 Feet, Above 45 Feet
3) By End-Use: Heavy Industry, FMCG, Chemical, Automotive, Oil And Gas, Healthcare, Logistics, Other End-Users
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Regional Insights –
North America was the largest region in the semi-trailer market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the semi-trailer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the semi-trailer market report are Wabash National Corporation, Schmitz Cargobull AG, Great Dane LLC, Krone GmbH & Co KG, Kogel Trailer GmbH & Co. KG, Utility Trailer Manufacturing Company, Hyundai Motor Company, Stoughton Trailers LLC, Vanguard National Trailer Corporation, MAC Trailer Manufacturing, Manac Inc., East Manufacturing Corporation, Fontaine Trailer Company, Wilson Trailer Company, Doonan Specialized Trailer LLC, Pitts Enterprises Inc., Strick Trailers LLC, Reitnouer Inc., Heil Trailer International LLC, Transcraft Corporation, Trail King Industries Inc., Travis Body & Trailer Inc., Talbert Manufacturing Inc., Timpte Inc., XL Specialized Trailers LLC, Dorsey Trailer LLC, Witzco Challenger Trailers Inc., Lode King Industries Ltd., Muv-All Trailer Company, Trail-Eze Inc.
Table of Contents
1. Executive Summary
2. Semi Trailer Market Report Structure
3. Semi Trailer Market Trends And Strategies
4. Semi Trailer Market – Macro Economic Scenario
5. Semi Trailer Market Size And Growth
…..
27. Semi Trailer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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