Trailer Global Market Report 2023

A trailer is a wheeled container that is pulled by a car or other vehicle and is designed to convey objects that are large or heavy. The trailer is frequently utilized for the transportation of commodities and goods.

The main types in the trailer market are dry vans, refrigerated trailers, tank trailers, flatbed trailers, lowboy trailers, and other trailers. A dry van is referred to as a van that is a semi-trailer that is used to protect shipments from the outside elements. The various types of axles are single axles, tandem axles, three-axles or more. The trailers are used in paper and paper products; pharma drugs; textile products; food and groceries; agriculture and farm products; chemicals; petroleum and petroleum products; motor vehicles and motor vehicle parts; metal and minerals; commercial machinery; other products.

The global trailer market grew from $52.61 billion in 2022 to $58.28 billion in 2023 at a compound annual growth rate (CAGR) of 10.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The trailer market is expected to grow to $85.65 billion in 2027 at a CAGR of 10.1%.

The trailer market research report is one of a series of new reports that provides trailer market statistics, including trailer industry global market size, regional shares, competitors with a trailer market share, detailed trailer market segments, market trends and opportunities, and any further data you may need to thrive in the trailer industry. This trailer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the trailer market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries imposed lockdowns. The outbreak harmed businesses throughout 2020 and into 2021. However, it is expected that the trailer market will recover from the shock over the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Automation and sensor technology are increasingly being used in the trailer industry to increase the efficiencies of dump trailers. The automation technology allows truck drivers to automatically raise and lower the lift axes of dump trailers for easy loading and unloading processes. The sensor technology reduces the chances of overloading the trailer with fixed axles and compromising tyre wear by using intelligent algorithms. Automation and sensor control systems play a vital role in reducing operational costs for transportation companies. Major industry players such as East Manufacturing Company are offering automatically deployed lift axles and rear suspension dumps in trailers.

Asia-Pacific was the largest region in the trailer market of the trailers market in 2022. North America was the second-largest region of the trailer market. The regions covered in the trailers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the trailers market include Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.

The global population is growing and is expected to reach about 10 billion by 2050, indirectly driving the trailer market. An increase in the population creates more demand for food, automobiles, infrastructure, and transportation. According to the American Trucking Association, the US trucking industry's national trade association, trucks move about 71% of the nation's freight, which is driven by population expansion in the country. Population expansion is expected to be the biggest factor in increasing the demand for transportation in countries such as India, Brazil, and African countries in the forecast period. Companies in the market are expected to see a growth in the demand for truck trailers from manufacturers of goods such as food, automobiles, clothing, and other consumer goods in the forecast period.

The trailer market consists of sales of drop-deck/step-deck trailers, double drop/lowboy trailers, removable gooseneck trailers (RGN), extendable flatbed stretch trailers, and side-kit trailers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Major companies in the trailers market include China International Marine Containers (Group) Ltd., Schmitz Cargobull AG, Bernard Krone Holding SE & Co. KG, Wabash National Corporation, Utility Trailer Manufacturing Company, EnTrans International LLC, Leslie Doggett Industries, Humbaur GmbH, and Mac Trailer Manufacturing Inc.



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