Global Semi-Trailer Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Semi-Trailer Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A semi-trailer is a trailer without a front axle. A large proportion of a semi-trailer's weight is supported by a tractor unit, or a detachable front-axle assembly known as a dolly, or the tail of another trailer. The other portion of the semi-trailer's weight is semi-supported (half-supported) by its own wheels, which only support the rear of the semi-trailer. A semi-trailer is normally equipped with landing gear (legs which can be lowered) to support it when it is uncoupled. Many semi-trailers have wheels that are capable of being totally dismounted and are also relocatable (repositionable) to better distribute the load to bearing wheel weight factors.

Market Overview:

The latest research study on the global Semi-Trailer market finds that the global Semi-Trailer market reached a value of USD 28913.21 million in 2022. It’s expected that the market will achieve USD 34163.47 million by 2028, exhibiting a CAGR of 2.82% during the forecast period.

Influence of COVID-19 Outbreak on Semi-Trailer Industry Development

The COVID-19 epidemic spread to more than 210 countries and regions around the world in three months, affecting nearly 7 billion people. The coronavirus epidemic has impacted all aspects of human health, economic growth, social development, national security, and international relations. It is a comprehensive challenge. The epidemic has drastically reversed expectations of moderate growth in the world economy in early 2020. After the outbreak, the employment situation in various countries has become more severe. Global investors panic, triggering turmoil in the financial and capital markets. The epidemic has caused huge losses to related industries and international trade. From the perspective of the general background, exports, consumption, and investment are driving the economy. After the outbreak of the epidemic, consumption, exports, and investment have all been affected to some extent. Therefore, the global economic downturn is inevitable.

More than one million lives have been lost to COVID-19 since the start of 2020 and the toll continues to rise. Many more have suffered a serious illness. Close to 90 million people are expected to fall into extreme deprivation this year. Compared with the IMF report released in June, the global economic contraction in 2020 will not be as severe as previously predicted. This revision reflects a better-than-expected economic recovery in the second quarter. Global growth is projected at 5.2 percent in 2021, a little lower than in the June 2020 WEO Update, reflecting the more moderate downturn projected for 2020 and consistent with expectations of persistent social distancing. This is the worst global recession in decades, despite the huge efforts of governments with the support of fiscal and monetary policies to deal with the economic downturn. But from a long-term perspective, it is expected that the severe recession caused by the pandemic will cause a prolonged economic depression by reducing investment. Should COVID-19 outbreaks persist, should restrictions on movement be extended or reintroduced, or should disruptions to economic activity be prolonged, the recession could be deeper. Businesses might find it hard to service debt, heightened risk aversion could lead to climbing borrowing costs, and bankruptcies and defaults could result in financial crises in many countries. Under such unfavorable circumstances, there will still be a possibility of a global decline in 2021. The global economic downturn caused by COVID-19 is not good for the development of any industry, and Semi-Trailer industry is the same.

Strength

The demand for Semi-Trailer in the downstream freight market continues to grow.
The development of e-commerce promotes the development of the downstream logistics industry.

Weakness

The market competition in the industry is fierce, and there is vicious competition.
There are tons of low-end Semi-Trailer manufacturers.

Opportunity

Research and develop special vehicles to expand the use of Semi-Trailer.
Use new materials to improve product quality and service life.

Threat

Substitute products or similar products to seize the market.
The market did not develop as expected.
The price of raw materials has risen.

Region Overview:

Asia Pacific had the highest growth rate of all regions.

Company Overview:

China International Marine Containers is one of the major players operating in the Semi-Trailer market, holding a share of 6.98% in 2021.

China International Marine Containers (Group) Ltd. (CIMC) is a world leading supplier of logistics and energy equipment, headquartered in Shenzhen of China. CIMC is dedicated to supplying high-quality and reliable equipment and services, including containers, vehicles, energy, chemical and food equipment, offshore, logistics services, airport facilities, etc. The prosperity of the businesses is supported by both CIMC Finance Co., Ltd. that provides professional capital management and by CIMC Financing Leasing Co., Ltd. that offers finance solutions. As a diversified multinational industrial group that shoulders the mission of global serving, CIMC has over 300 member enterprises and 4 listed companies in Asia, North America, Europe, Australia and others, and extensive customers and sales networks covering more than 100 countries and regions.

CIMC Vehicles primarily engage in the manufacture and sale of semi-trailers and truck bodies for specialty vehicles. Their semi-trailer product lines mainly include chassis and flatbed trailers, fence trailers, tank trailers, refrigerated trailers and van trailers，and their truck body products mainly include dump beds for dump trucks, mixers for mixer trucks and other truck bodies for specialty vehicles.

Schmitz Cargobull AG is a German manufacturer of semi-trailers, trailers and truck bodies. It is thus the market leader in Europe. The families of Dr. Heinz Schmitz, Peter Schmitz and Bernd Hoffmann hold equal shares in the company.

Segmentation Overview:

Among different product types, Dry Van segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Logistics segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Semi-Trailer market covered in Chapter 3:

East Manufacturing Company
MAC Trailer Manufacturing
Randon
Hyundai Translead
Great Dane
Wabash National Corporation
Stoughton Trailers
Kentucky Trailer
Tirsan
Schmitz Cargobull
China International Marine Containers
Pitts Trailers
Manac
Premier Trailer Mfg. Inc.
Wielton

In Chapter 4 and Chapter 14.2, on the basis of types, the Semi-Trailer market from 2018 to 2029 is primarily split into:

Low Boy
Flatbed
Dry Van
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Semi-Trailer market from 2018 to 2029 covers:

Logistics
Chemical
Food
Cement
Oil and gas
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)