Semi-trailer Market Size To Reach $33.77 Billion By 2030

Semi-trailer Market Growth & Trends

The global semi-trailer market size is expected to reach USD 33.77 billion by 2030, registering a CAGR of 6.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing demand across the construction, defense, automotive, and energy sectors is anticipated to be a key factor driving market growth. In addition, increasing dependence of e-commerce companies on third-party logistics (3PL) providers to ensure transportation of goods through hub and spoke distribution model is also expected to augment market growth in the coming years.

Furthermore, expanding cold chain and logistics industry is contributing significantly to the market growth. Less than truckload (LTL) and full truckload (FTL) freight shipping companies worldwide are increasingly adopting semi-trailers due to the versatility being offered in terms of load-carrying capacity. As compared to rigid trucks, semi-trailers offer the lowest cost of transportation per ton per km, which is further enhancing its adoption.

Over the last few years, the product demand has witnessed strong growth on account of positive growth observed in the oil & gas industry. In the coming years, the market is poised to register steady growth due to relaxation of regulations with respect to length and load-carrying capacity of semi-trailers. Government regulations supporting the introduction of lightweight and eco-friendly transport vehicles are expected to shape the future market demand. However, lack of proper infrastructure required for transportation, especially in emerging economies is hampering the semi-trailer market growth.

Manufacturers are increasingly incorporating advanced technologies such as driver assistance systems (DAS) and other connectivity solutions into their products to help their consumers (fleet operators/logistics service providers) enhance operational efficiency. Furthermore, growing preference for platooning and introduction of electric semi-trailer trucks are expected to create huge opportunities for the manufacturers in the coming years. Manufacturers are increasingly focusing on introducing lightweight transport vehicles through improved designs and lighter components to ensure greater productivity and payload.

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Semi-trailer Market Report Highlights

• The dry vans segment is expected to witness a revenue-based CAGR of more than 4.0% due to growth in the retail and fast-moving consumable goods (FMCG) industry, especially in the developing economies

• The Asia Pacific market is expected to witness substantial growth owing to improving road infrastructure and anticipated growth in the automobile industry. Automotive companies are manufacturing many cars and two-wheelers which are being transported through semi-trailers to end-consumers

• The market is highly consolidated with the presence of established players such as Wabash National Corporation, Schmitz Cargobull, Great Dane, and Kogel Trailer GmbH

• Players are focusing on R&D investments, acquisitions and mergers, and product innovation in order to strengthen their market presence

Semi-trailer Market Segmentation

Grand View Research has segmented the global semi-trailer market based on type and region:

Semi-trailer Type Outlook (Volume in Thousand Units; Revenue in USD Million, 2018 - 2030)

• Flat Bed Trailer

• Dry Vans

• Refrigerated Trailers

• Lowboy Trailers

• Tankers

• Others

Semi-trailer Regional Outlook (Volume in Thousand Units; Revenue in USD Million, 2018 – 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

• Latin America

  • Brazil

  • Mexico

• Middle East & Africa

  • Saudi Arabia

  • South Africa

  • UAE

List of Key Players of Semi-trailer Market

• Qingdao CIMC Special Vehicles Co., Ltd

• Fontaine Trailer

• Great Dane A Division of Great Dane LLC.

• Kögel

• KRONE Trailer

• LAMBERET SAS

• Polar Tank Trailer

• Schmitz Cargobull

• Utility Trailer Manufacturing Company

• Wabash National Corporation

• HYUNDAI TRANSLEAD