The modular 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.
Modular 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 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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Scope Of Modular 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.
Modular Trailer Market Overview
Market Drivers –
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.
Market Trends –
Major companies operating in the modular trailer market are focusing on developing advanced, modular designs that can be connected and configured based on the specific needs of the load. Modular design is a design approach that involves creating complex systems from smaller, interchangeable, and self-contained units called modules. The modular design of trailers revolutionizes the transport of heavy and oversized loads by offering unmatched flexibility, scalability, and efficiency. For instance, in July 2022, Faymonville Group, a Belgium-based trailer and heavy transport equipment manufacturer, launched the ModulMAX AP-M Modular Trailer. This new modular trailer combines the supporting assist mode with the independent self-propelled mode. The motorized axles of the modules can be engaged and disengaged at any speed up to 40 km/h, making this feature unique in the market. The ModulMAX AP-M also offers seamless interoperability and can be combined with conventional 3,000 mm-wide Faymonville ModulMAX modules and other brands. Users can also connect it with common equipment such as lowbeds, spacers, drawbars, and more. The power pack unit used for this mechanically steered module is identical to the one used with the electronically steered vehicles.
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
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Regional Insights –
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.
Key Companies –
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
Table of Contents
1. Executive Summary
2. Modular Trailer Market Report Structure
3. Modular Trailer Market Trends And Strategies
4. Modular Trailer Market – Macro Economic Scenario
5. Modular Trailer Market Size And Growth
…..
27. Modular Trailer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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