Car Carrier Market By Type (Open-Air Car Carrier, Enclosed Car Carrier), By End User (Automotive Sales Service Shop 4S, Terminals, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Car Carrier Market By Type (Open-Air Car Carrier, Enclosed Car Carrier), By End User (Automotive Sales Service Shop 4S, Terminals, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

The global car carrier market share was valued at $13.2 billion in 2022, and is projected to reach $26.9 billion by 2032, growing at a CAGR of 7.5% from 2023 to 2032.
Car carrier services are a part of the automotive industry. The car carrier services play an important role in the transportation of vehicles from one point to the other point. Car carrier services ensure the safe and efficient delivery of vehicles. Car carrier services are an important aspect of the auto industry. The significance of car services is extended to various aspects of automotive users and suppliers. Car carrier services specialize in the transportation of passenger car vehicles, luxury vehicles, entire fleet of cars, as they provide a safe and reliable means. Car carrier services make the process of individual and family relocation assistance very convenient and efficient. Car dealerships heavily rely on car carrier services to receive inventory. The efficient transportation of new vehicles is important for business operations.
Increasing population and demand for automotive vehicles and rapid technological advancements in the automotive industry are the two significant factors driving the growth of car carrier market. The people are shifting to cities and urban areas, and the requirement for personal vehicles is also growing due to factors such as work commute, accessing services and recreational activities. Car carriers are utilizing vehicle monitoring systems to remotely monitor vehicle conditions during transportation for checking factors such as temperature, humidity and security. Furthermore, changing government regulations and fluctuating fuel prices are two significant factors hampering the growth of the market. Governments are imposing strict emission standards to eliminate pollution and climate related problems. In order to meet these standards, the car carrier companies will have to incur costs to meet the new standards and displace the old fleet methods. Fluctuating fuel prices are leading to volatility of cost for car carrier companies. The expenses related to fuel comprise a substantial portion of operating costs for transportation companies. Moreover, rising globalization in automotive supply chains and growing e-commerce platforms are the two main significant factors providing an opportunity for the market growth. Globalization has enabled automotive manufacturers to enter new markets and reach customers in regions where earlier there was a limited presence of automotive industry. Car carriers are playing an important role in facilitating this expansion by offering end-to-end transportation. E-commerce platforms are enabling automotive manufacturers to sell vehicles directly to consumers online, bypassing traditional dealership networks. This trend is increasing the requirement for car carriers to transport vehicles from manufacturing facilities and distribution centers directly to the customer’s location.
In August 2023, Atlanta based FVL hauler Jack Cooper Transport entered into a definitive agreement and acquired assets of Moore Transport including a fleet of 240 car carrier trucks. The purchase of Moore Transport by Jack Cooper will add an additional 240 car carrying trucks to Jack Cooper’s fleet. The acquisition will significantly enhance the logistics firm’s footprint along the East Coast and within the Midwest region.
In May 2023, Dongfeng commercial vehicles launched a high-end heavy-duty vehicle named Dongfeng Tianlong GX with an emphasis on intelligent logistics. The Dongfeng Tianlong GX follows China's most rigorous R&D procedure from conception to mass production. With a flawlessly matched powertrain system consisting of a Dongfeng Cummins Z14 engine, an Endurant 12-speed automatic transmission, and a Dongfeng Dana rear axle, the truck is a Dongfeng Tianlong GX. By 25%, it lessens the number of gear changes when compared to analogous automated manual transmission (AMT) goods. The vehicle can maximize fuel consumption and minimize driver intervention dueto its 13 operating modes, which cover a range of working circumstances. The technology offers efficient performance and better fuel efficiency that is on level with foreign trucks. The main features include advanced emergency braking system (AEBS), electronic stability control (ESC), lane departure warning system (LDWS), forward collision warning system (FCWS), driver fatigue monitoring system (DMS), around view monitoring system (AVM), and tire pressure monitoring system (TPMS).
Approximately 66,000 electric buses and 60,000 medium- and heavy-duty trucks were sold globally in 2022, accounting for 1.2% of vehicle sales and approximately 4.5% of all bus sales. China is still the industry leader in the manufacture and distribution of fuel cell and electric trucks and buses. 54,000 brand-new electric buses and 52,000 predicted electric medium- and heavy-duty trucks were sold in China in 2022; these figures accounted for 18% and 4% of China's overall sales as well as around 80% and 85% of worldwide sales, respectively. Furthermore, a large number of buses and trucks marketed in North America, Europe, and Latin America are Chinese brands.
AP Moller Maersk collaborated with Kodiak Robotics Inc. and launched the first commercial autonomous trucking lane between Houston and Oklahoma City. The freight lane marks an expansion of the collaboration between Kodiak and Maersk, that started during the first autonomous freight deliveries together in November 2022 as part of Maersk’s Global Innovation Center Program. Kodiak has been delivering eight loads per week, with a safety driver behind the wheel, for Maersk customers since August.
The key players in the car carrier market are Miller Industries, Boydstun, Cottrell, Landoll, Kentucky Trailers, Delavan, Wally-Mo Trailer, Infinity Trailer, Tec Equipment Inc., and Dongfeng Trucks. Major strategies such as product launch and collaboration were applied by players operating in the market are tracked and monitored.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the car carrier market analysis from 2022 to 2032 to identify the prevailing car carrier 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 car carrier 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 car carrier market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

Open-Air Car Carrier
Enclosed Car Carrier

By End User

Automotive Sales Service Shop 4S
Terminals
Others

By Region

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle East and Africa
GCC Countries
South Africa
Rest of Middle East And Africa
Key Market Players
Miller Industries
Landoll Corporation
Kentucky Trailers
Delavan
Tec Equipment Inc.
Boydstun Equipment Manufacturing
Wally-Mo Inc
Infinity Trailers
Dongfeng Motor Company
Cottrell Trailers