Automotive trailers are unpowered vehicles dragged by a powered vehicle, which are used to transport goods and commodities. There are many types of trailers, each having a different load capacity and a different purpose including flatbed trailers, dry vans or box trailers, refrigerated trailers, lowboy trailers, tanker trailer, side-kit trailers, multi-car trailer, and other various specialty trailers. It needs to be pulled by a bike, car, truck, or other vehicle.
The automotive trailer market is driven by expansion of the logistics industry, coupled with increase in cold chain transportation and reduction in cost and extra carriage capacity of trailers. For instance, in October 2020, ATC Trailers launched an ultra-compact, high-output LED system for dry and refrigerated van trailers. However, factors such as high maintenance cost of automotive trailers and surge in environment concerns regarding refrigerated trailer restrain the market growth.
For instance, in November 2021, the government of UK announced its target of a Net Zero economy by 2050, which aims to bring together industry and government to accelerate the transition to a more efficient and lower emission future cold chain. Key elements of the transition phase include ongoing adoption of emission-free or lower emission alternatives to diesel, improvements to enhance efficiency of Transport Refrigeration Units (TRU) operations and use of lower Global Warming Potential (GWP) refrigerants, with new zero emission technologies taken from trials into full operation. On the contrary, technological advancements in automotive trailers and increase in attention toward trailer platooning are expected to provide lucrative growth opportunities for the market.
The automotive trailer market is segmented on the basis of vehicle type, trailer type, axle type, and region. By vehicle type, it is classified into two-wheelers & bikes, passenger cars, and commercial vehicles. By trailer type, the market is categorized into dry van & box trailers, flatbed, trippers, chemical & liquid refrigerated trailers, and others. By axle type, it is bifurcated into single axle, tandem axle and three or more than three axles. Region wise, this market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in the report include Böckmann Fahrzeugwerke GmbH, China International Marine Containers (Group) Co., Ltd., Dennison Trailers Ltd., Great Dane, Humbaur GmbH, Hyundai Motor Group, Ifor Williams Trailers Ltd., Schmitz Cargobull, Utility Trailer Manufacturing Company and Wabash National Corporation.
The automotive trailer market is driven by expansion of the logistics industry, coupled with increase in cold chain transportation and reduction in cost and extra carriage capacity of trailers. For instance, in October 2020, ATC Trailers launched an ultra-compact, high-output LED system for dry and refrigerated van trailers. However, factors such as high maintenance cost of automotive trailers and surge in environment concerns regarding refrigerated trailer restrain the market growth.
For instance, in November 2021, the government of UK announced its target of a Net Zero economy by 2050, which aims to bring together industry and government to accelerate the transition to a more efficient and lower emission future cold chain. Key elements of the transition phase include ongoing adoption of emission-free or lower emission alternatives to diesel, improvements to enhance efficiency of Transport Refrigeration Units (TRU) operations and use of lower Global Warming Potential (GWP) refrigerants, with new zero emission technologies taken from trials into full operation. On the contrary, technological advancements in automotive trailers and increase in attention toward trailer platooning are expected to provide lucrative growth opportunities for the market.
The automotive trailer market is segmented on the basis of vehicle type, trailer type, axle type, and region. By vehicle type, it is classified into two-wheelers & bikes, passenger cars, and commercial vehicles. By trailer type, the market is categorized into dry van & box trailers, flatbed, trippers, chemical & liquid refrigerated trailers, and others. By axle type, it is bifurcated into single axle, tandem axle and three or more than three axles. Region wise, this market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in the report include Böckmann Fahrzeugwerke GmbH, China International Marine Containers (Group) Co., Ltd., Dennison Trailers Ltd., Great Dane, Humbaur GmbH, Hyundai Motor Group, Ifor Williams Trailers Ltd., Schmitz Cargobull, Utility Trailer Manufacturing Company and Wabash National Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the automotive trailer market analysis from 2021 to 2031 to identify the prevailing automotive trailer market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the automotive trailer market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global automotive trailer market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Vehicle Type
- Two-wheeler and Bike
- Passenger Car
- Commercial Vehicle
By Trailer Type
- Dry Van and Box
- Refrigerator
- Chemical and Liquid
- Tipper
- Flatbed
- Others
By Axle Type
- Single Axle
- Tandem Axle
- Three or More Than Three Axle
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest Of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- BöCKMANN FAHRZEUGWERKE GMBH
- China International Marine Containers (Group) Co., Ltd.
- Dennison Trailers Ltd
- Great Dane
- Humbaur GmbH
- HYUNDAI MOTOR GROUP
- IFOR WILLIAMS TRAILERS LTD.
- SCHMITZ CARGOBULL AKTIENGESELLSCHAFT
- Utility Trailer Manufacturing Company
- Wabash National Corporation
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AUTOMOTIVE TRAILER MARKET, BY TRAILER TYPE
CHAPTER 5: AUTOMOTIVE TRAILER MARKET, BY AXLE TYPE
CHAPTER 6: AUTOMOTIVE TRAILER MARKET, BY VEHICLE TYPE
CHAPTER 7: AUTOMOTIVE TRAILER MARKET, BY REGION
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, “Automotive Trailer Market," the automotive trailer market was valued at $21.1 billion in 2021, and is estimated to reach $30.8 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031.Asia-Pacific was the highest revenue contributor followed by North America, Europe and LAMEA. China dominated the global automotive trailer market share in 2021, owing to increase in R&D activities; technological developments by key players; and rapid adoption of innovative technologies in making advanced, reliable, and efficient automotive trailers. Asia-Pacific would hold the highest share of the market by 2031, owing to rise in procurement and development of advanced automotive trailer systems by several Asian nations, for instance, China, India, Japan, and South Korea.
Dennison Trailers Ltd., Schmitz Cargobull, Bockmann Fahrzeugwerke GmbH, and Humbaur GmbH are one of the leading companies operating in the global automotive trailer market. Bockmann Fahrzeugwerke GmbH adopted product launch, Dennison Trailers Ltd. adopted agreement, contract, partnership, business expansion and product launch, and Schmitz Cargobull adopted product launch and business expansion to gain a competitive edge in the market.
In November 2019, Hyundai Motor demonstrated autonomous driving tech capabilities on its two trailer-connected Xcient trucks. The demonstration successfully displayed the vehicle platooning capability, which has the benefit of reducing air resistance to improve fuel efficiency and lower emissions, making it an eco-friendly technology. Furthermore, in July 2022, Cox Automotive acquired Trudell, thus expanding its offering within the medium and heavy-duty fleet parts and service, as well as adding direct parts sales and semi-trailer sales to the Cox Automotive Mobility Fleet Services portfolio. Such developments are expected to fuel the growth of the automotive trailer market during the forecast period.
By vehicle type, the automotive trailer market has been categorized into two-wheeler and bike, passenger car, and commercial vehicle. The commercial vehicle segment accounted for the highest revenue in 2021, owing to high demand for trailers for commercial vehicles globally.
On the basis of trailer type, the automotive trailer market is bifurcated into dry van & box trailers, flatbed, trippers, chemical & liquid refrigerated trailers, and others. The dry van and box segment garnered the highest revenue in 2021, owing to high demand for dry van and box type automotive trailers across several applications globally.
On the basis of axle type, the automotive trailer market is bifurcated into single axle, tandem axle and three or more than three axles. The tandem axle segment garnered the highest revenue in 2021, owing to their suitability for transporting heavier loads at higher speed.
COVID-19 Impact Analysis
The COVID-19 impact on the automotive trailer market is unpredictable, and is expected to remain in force for a few years.The COVID-19 outbreak forced governments across the globe to implement stringent lockdown and ban import-export of raw material and parts for most of 2020 & few months in 2021. This led to sudden fall in the availability of important raw materials for manufacturing automotive trailers.
Moreover, nationwide lockdown forced automotive trailer systems manufacturing facilities to partially or completely shut their operations.
Adverse impacts of the COVID-19 pandemic resulted in delays in activities and initiatives regarding large scale manufacturing of automotive trailer systems globally.
Key Findings of the Study
- By vehicle type, the two-wheeler and bike segment is expected to register a significant growth during the forecast period.
- On the basis of trailer type, the others segment is anticipated to exhibit significant growth in future.
- On the basis of axle type, the three or more than three axle segment is anticipated to exhibit significant growth in future.
- Region wise, LAMEA is anticipated to register the highest CAGR during the forecast period.
- The key players profiled in this automotive trailer market report include Böckmann Fahrzeugwerke GmbH, China International Marine Containers (Group) Co., Ltd., Dennison Trailers Ltd., Great Dane, Humbaur GmbH, Hyundai Motor Group (HYUNDAI Translead, Inc.), Ifor Williams Trailers Ltd., Schmitz Cargobull, Utility Trailer Manufacturing Company and Wabash National Corporation
Companies Mentioned
- BöCKMANN FAHRZEUGWERKE GMBH
- China International Marine Containers (Group) Co., Ltd.
- Dennison Trailers Ltd
- Great Dane
- Humbaur GmbH
- HYUNDAI MOTOR GROUP
- IFOR WILLIAMS TRAILERS LTD.
- SCHMITZ CARGOBULL AKTIENGESELLSCHAFT
- Utility Trailer Manufacturing Company
- Wabash National Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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