The Semi-Trailer by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Semi-Trailer, 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.
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.
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The semi-trailer market covered in this report is segmented –
1) Semi-Trailer Market By Type: Flatbed, Lowboy, Dry Van, Refrigerated, Tankers, Other Types
2) Semi-Trailer Market By Length: Up To 45 Feet, Above 45 Feet
3) Semi-Trailer Market By End-Use: Heavy Industry, FMCG, Chemical, Automotive, Oil And Gas, Healthcare, Logistics, Other End-Users
Top Major Players
International Business Machines Corporation
The increased demand for trailer technology advancement is a key trend in the semi-trailer market. Major companies operating in the semi-trailer market are coming up with new technologies for trailers to sustain their position in the market. For instance, in July 2022, Ashok Leyland, a Indian automotive industry company, launched AVTR 4220 with 41.5T GCW and AVTR 4420 with 43.5T GCW in 4×2 tractor segment. The unique features of these two tractor-trailers include a Proven H6 engine 6-cylinder engine with i-Gen6 technology, GCW options of 41.5T and 43.5T with compatible 2 axle trailer, improved fluid efficiency and lower DEF usage, and additional cabin options. These trailers were designed to enable company to produce custom-tailored products to meet the needs of each customer.
The semi-trailer market report table of contents includes:
1. Executive Summary
2. Semi-Trailer Market Characteristics
3. Semi-Trailer Market Trends And Strategies
4. Semi-Trailer Market – Macro Economic Scenario
5. Global Semi-Trailer Market Size and Growth
…..
31. Global Semi-Trailer Market Competitive Benchmarking
32. Global Semi-Trailer Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Semi-Trailer Market
34. Semi-Trailer Market Future Outlook and Potential Analysis
35. Appendix
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