Overview and Scope
A modular trailer is a type of transport vehicle designed with multiple, interchangeable sections or modules that can be configured in various ways to accommodate different cargo sizes, weights, and types. These trailers are highly flexible and customizable, allowing them to be adjusted to meet specific transportation needs, particularly for oversized or heavy loads in industries such as construction, mining, and heavy equipment transportation.
Sizing and Forecast
The modular trailer market size has grown strongly in recent years. It will grow from $7.34 billion in 2023 to $7.76 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to government regulations, incentives and subsidies, better-charging infrastructure, and lower operating costs.
The modular trailer market size is expected to see strong growth in the next few years. It will grow to $9.69 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to increasing demand for freight transportation, rising urbanization, infrastructure development and expansion, growing construction and mining industries, and growing demand for sustainable transportation. Major trends in the forecast period include accelerated electrification efforts, growth in urban logistics, charging infrastructure expansion, and a focus on vehicle efficiency and performance.
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Segmentation & Regional Insights
The modular trailer market covered in this report is segmented –
1) By Type: Multi-Axle, Telescopic Or Extendable, Lowboy Trailer
2) By Axles: 2 Axles, Greater-than (>) 2 Axles
3) By Application: Construction And Infrastructure, Mining, Wind And Energy, Heavy Engineering
North America was the largest region in the modular trailer market in 2023. The regions covered in the modular trailer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
A rise in freight transportation is expected to propel the growth of the modular trailer market going forward. Freight transportation refers to the movement of goods, cargo, and commodities from one location to another using various modes of transport. Freight transportation is growing due to increased global trade and e-commerce, driving higher demand for the movement of goods. Additionally, advancements in logistics technology and infrastructure are enhancing efficiency and capacity, further propelling growth in the sector. Modular trailers in freight transportation can be used across various modes of freight transport, including road and rail. This adaptability ensures that goods can be moved efficiently from the point of origin to the destination, even if multiple transport modes are involved. For instance, in July 2023, according to Eurostat, a Luxembourg-based statistical office of the European Union, European road freight transport experienced a significant increase of 6.5% in 2021 compared to the previous year, measured in tonne-kilometers (tkm). Additionally, international transport, which accounts for 25.4% of the EU’s total road freight transport, saw a modest 1.0% growth in 2022, building on a substantial 8.1% surge in 2021. Therefore, the rise in freight transportation is driving the growth of the modular trailer market.
Key Industry Players
Major companies operating in the modular trailer market are Dorsey Trailer, MAC Trailer, Maxitrans Industries Limited, Manac Inc., Goldhofer AG, Trail King Industries, Fontaine Heavy-Haul, XL Specialized Trailers, Faymonville, Broshuis B.V., Reitnouer Inc., Talbert Manufacturing, Cometto S.p.A., Kalyn Siebert, Nicolas Industrie, Load King LLC, Scheuerle Fahrzeugfabrik GmbH, Transcraft Corporation, Witzco Challenger Trailers Inc., Nooteboom Trailers B.V., Kässbohrer Fahrzeugwerke GmbH, Rogers Brothers Corporation, TII Group, Concordia, Doonan Specialized Trailers LLC
The modular trailer market report table of contents includes:
1. Executive Summary
2. Modular Trailer Market Characteristics
3. Modular Trailer Market Trends And Strategies
4. Modular Trailer Market – Macro Economic Scenario
5. Global Modular Trailer Market Size and Growth
……………….
32. Global Modular Trailer Market Competitive Benchmarking
33. Global Modular Trailer Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Modular Trailer Market
35. Modular Trailer Market Future Outlook and Potential Analysis
36. Appendix
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