Market Size of Semi-trailer Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.30 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Semi-Trailer Market Analysis
The semi-trailer market was valued at over USD 29.8 million in 2021, and it is expected to reach a value of USD 42.8 million by 2027, registering a CAGR of over 5.3% during the forecast period.
The market was negatively impacted by COVID-19 in 2021. This resulted in reduced industrial production. Subsequently, this instigated low demand for semi-trailers. Equally, sales and production of the semi-trailers lowered as the global supply chain of the market got disrupted. For instance, a well-known manufacturer of semi-trailers in Europe, Schmitz's, saw a decline of 28% for units manufactured in 2019-2020. The lesser hours of production have impacted the overall production rate of the company, ensuing in losses in that quarter.
Over the medium term, the growing usage of alternative fuels is likely to propel the growth prospects for the semi-trailer market over the forecast period. Semi-trailer manufacturers are adopting and developing cutting-edge technologies to augment the efficiency of vehicles. For instance, Ekeri, a Finland-based company, developed a side opening design for a semi-trailer, which is expected to save 30 minutes on each daily run. Likewise, Kässbohrer, a Germany-based company, lately launched 18 latest models of semi-trailers across four product groups in retort to the changing trends in the industry to accommodate the exact requirements of the consumers.
Most of the transportation in the manufacturing, automotive, construction, and energy sectors happens through roads and trailers, owing to their versatility and flexibility. Semi-trailers are more popular than full trailers.
Semi-Trailer Industry Segmentation
A semi-trailer is a sort of a trailer that does not have the grouping of one or more trailers, or any shaft that is used to transport carriage is called a semi-trailer. Semi-trailers are generally used in the industries such as food and beverages, oil and gas, medical, and construction.
The semi-trailer market is segmented by vehicle type (lowboy, flatbed, refrigerated, dry van, and other vehicle types), tonnage (below 25 T, 25 T-50 T, 51 T-100 T, and above 100 T), foot length (28-45 foot and greater than 45 foot), and geography (North America, Europe, Asia-Pacific, and Rest of the World).
| By Vehicle Type | |
| Lowboy | |
| Flatbed | |
| Refrigerated | |
| Dry Van | |
| Other Vehicle Types |
| By Tonnage | |
| Below 25 T | |
| 25 T-50 T | |
| 51 T-100 T | |
| Above 100 T |
| By Foot Length | |
| 28-45 Foot | |
| Greater than 45 Foot |
| By Geography | ||||||||
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Semi-trailer Market Size Summary
The semi-trailer market is poised for significant growth, driven by increasing demand in sectors such as logistics, e-commerce, and infrastructure development. The market's expansion is supported by the growing preference for road transportation, particularly in Europe, where a substantial portion of inland freight is moved by road. This trend is further bolstered by the rise of e-commerce, which necessitates a more developed distribution network. Manufacturers are responding to these demands by adopting advanced technologies and developing new models to enhance vehicle efficiency and meet consumer needs. The market is also witnessing a shift towards electrification, with companies like Hermes and DHL leading the charge in converting to electric commercial vehicles, reflecting a broader trend towards sustainability.
Regionally, Asia-Pacific emerges as the largest and fastest-growing market for semi-trailers, fueled by robust construction activities and rising investments in infrastructure. In India, the need to replace outdated heavy commercial vehicles due to stringent emission norms is expected to drive market growth. China, as a major player, continues to influence the market with its significant coal consumption and mining activities, which require extensive logistics support. Key industry players, including Great Dane LLC, Wabash National Corporation, and Schmitz Cargobull AG, are expanding their operations to meet the increasing demand. Innovations such as lightweight panels and electrified trailers are being introduced to reduce carbon emissions and improve fuel efficiency, aligning with global sustainability goals.
Semi-trailer Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Buyers/Consumers
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1.3.2 Bargaining Power of Suppliers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Vehicle Type
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2.1.1 Lowboy
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2.1.2 Flatbed
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2.1.3 Refrigerated
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2.1.4 Dry Van
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2.1.5 Other Vehicle Types
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2.2 By Tonnage
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2.2.1 Below 25 T
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2.2.2 25 T-50 T
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2.2.3 51 T-100 T
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2.2.4 Above 100 T
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2.3 By Foot Length
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2.3.1 28-45 Foot
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2.3.2 Greater than 45 Foot
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2.4 By Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Rest of North America
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 South Korea
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 Rest of the World
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2.4.4.1 South America
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2.4.4.2 Middle-East and Africa
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Semi-trailer Market Size FAQs
What is the current Semi-trailer Market size?
The Semi-trailer Market is projected to register a CAGR of greater than 5.30% during the forecast period (2024-2029)
Who are the key players in Semi-trailer Market?
Schmitz Cargobull AG, Utility Trailer Manufacturing Company, China International Marine Containers (Group) Ltd, Fahrzeugwerk Bernard KRONE GmbH & Co. KG and Wabash National are the major companies operating in the Semi-trailer Market.
