Semi-trailer Market Top Companies, Trends and Growth Factors Details for Business Development

13/lug/2020 18:44:39 Market Research News Contatta l'autore

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The global semi-trailer market is anticipated to be worth USD 24.8 billion by year 2025, advancing at a CAGR of 3.1% during the forecast period, according to a recent report by Grand View Research. A semi-trailer is a trailer without a front axle, with a large proportion of its weight being supported by a tractor unit. Semi-trailers are preferred over full trailers during transport, with the ease of backing associated with them being a major advantage. Semi-trailers are extremely useful in hauling long objects, such as pipes, beams or railway tracks. Some of the well-known trailer types include flat beds, dry vans, refrigerated, lowboy and tankers.

Semi-trailer

According to the Federal Motor Carrier Safety Administration (FMCSA), the year 2016 saw around 268.8 million total registered vehicles in the US, of which 11.5 million were large trucks that constitute single-unit trucks and combination trucks. The energy sector can be considered to be a major consumer of semi-trailers, as the rising natural gas production around the globe has necessitated the requirement for tankers in the coming years. Semi-trailers are used in various critical end-use industries, such as energy, construction, automotive and manufacturing sectors, on account of their versatility, reliability and flexibility. Another factor that has led to market growth is the steady phase-out of traditional trucks in developing economies such as India, where the government is pushing towards utilization of efficient transportation methods, which will adhere to emission norms.

The growth of the cold-chain and logistics industry is another significant factor aiding market growth for semi-trailers. Their versatility in terms of load carrying capacity, as well as the lower cost of transportation per ton per km accrued as compared to rigid trucks, have brought them to the attention of less than truckload (LTL) and full truckload (FTL) freight shipping companies, further enhancing market growth. Additionally, integration of technology such as driver assistance systems, as well as introduction of electric semi-trailer trucks, has also contribute positively to market growth. Companies in this space are also investing heavily in the R&D regarding aerodynamics enhancement, tire safety, electrified axles, tractor-trailer integration, and semi-trailer telematics, which further has solidified the semi-trailer industry.

The current COVID-19 pandemic has had a huge impact on the transportation and logistics industry. The major modes of transportation, such as airways and waterways, have seen a drastic drop in traffic, as countries have shut their borders for the foreseeable future. The logistics and transportation industry faces a challenge as to how to effectively manage the supply chain during this time. Another area of concern is the huge drop in the sales of vehicles that have greatly undermined the importance of trailers. The market may see a gradual lift in the coming weeks, as production gradually commences in the critical industries, which may lead to an upturn in the semi-trailers market. Moreover, the supply of essential goods has witnessed healthy demand in this period, which has been a silver lining for the industry players.

The global market has been segmented based on the semi-trailer type and region. The various types of semi-trailers available in the market include flatbed trailers, dry vans, refrigerated trailers, tankers, and lowboy trailers, and they make up majority of the market share.

Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/semi-trailer-market

Key findings from the report suggest:

  • The dry vans segment is anticipated to witness appreciable revenue-based growth in the coming years, on account of the rapid developments in the retail and FMCG sectors. Dry vans are used for transportation of non-perishable goods, and are the most common type of freight transportation seen in the United States.
  • The flatbed segment had a substantial market share in 2018, on account of the rapid increase in demand for heavy cargo transportation. Flatbed trailers are heavily used in the shipping industry for transporting shipping containers of various sizes.
  • Refrigerated semi-trailers are expected to have a significant share in the market in the coming years. These trailers are used for the transport of perishable and temperature-sensitive goods, as the help in maintaining the products at optimal temperature.
  • Asia Pacific is anticipated to show strong market growth through the forecast period, on account of the increase in inland transportation due to development of well-connected routes, as well as the rise of e-commerce industry in major economies such as India and China. China is a major hub for automotive production, which is again a major growth driver.
  • North America held a substantial market share in 2018 on account of presence of a strong road infrastructure network, and favorable initiatives such as installation of “SmartWay”, a verified aerodynamic technology to improve fuel efficiency in tractors and semi-trailers that has been mandated by the California Air Resources Board (CARB).

Some of the major companies in the semi-trailer industry include HYUNDAI Translead; Kogel Trailer GmbH; Schmitz Cargobull; Chassis King, Inc.; MANAC INC.; Wabash National Corporation.; Great Dane Fontaine Commercial Trailer, Inc.; Dorsey Trailer; Polar Tank; Utility Trailer Manufacturing Company; and China International Marine Containers (Group) Ltd. These companies are focusing on integrating advanced technologies, while also collaborating with OEMs for consistent inventory supply.

Some recent developments include:

  • Wabash National Corporation introduced a re-engineered version of their Transcraft Eagle combo trailer at the American Trucking Associations’ (ATA) Technology and Maintenance Council (TMC) annual meeting. The trailer features a lighter weight design, as well as the highest standard beam rating to handle the toughest loads, and more load securement versatility.
  • In December 2019, Kögel expanded its sales and service network in France through a partnership with G-TRUCK and MP TRUCK, who specialize in the repair and maintenance of commercial vehicles. The partnership would allow for ease of servicing of all Kögel customers in France.
  • In October 2019, Hyundai revealed its concept for a hydrogen-powered fuel cell electric truck, called the HDC-6 NEPTUNE, which achieves the company’s vision of a zero-carbon emission fuel cell electric truck technology and design. Along with this, the company also revealed its eco-friendly, high-performance refrigerated concept trailer solution, known as the HT Nitro ThermoTech®.

About Grand View Research

 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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