Semi Trailer Market Forecasts to 2030 – Global Analysis By Type (Dry Van Trailers, Refrigerated Trailers, Flatbed Trailers, Tank Trailers, Lowboy Trailers, Curtain Side Trailers and Other Types), Tonnage, Length, Axles, Application and By Geography

Semi Trailer Market Forecasts to 2030 – Global Analysis By Type (Dry Van Trailers, Refrigerated Trailers, Flatbed Trailers, Tank Trailers, Lowboy Trailers, Curtain Side Trailers and Other Types), Tonnage, Length, Axles, Application and By Geography

According to Stratistics MRC, the Global Semi Trailer Market is accounted for $24.2 billion in 2024 and is expected to reach $40.2 billion by 2030 growing at a CAGR of 8.8% during the forecast period. A semi-trailer is a type of trailer used in freight transportation, where part of the trailer's weight is supported by a tractor unit (truck) rather than the trailer's axles. This is achieved by having a rear axle with a coupling mechanism attached to the truck's fifth wheel. Unlike full trailers, a semi-trailer relies on the tractor to carry much of its weight, allowing for more flexible and efficient transportation of large or heavy loads. Semi-trailers are commonly used in long-haul trucking and come in various types, including flatbeds, refrigerated trailers, and box trailers.

According to Eurostat, over 75% of inland cargo transports within the European Union i.e. about 1,750 billion metric ton-kilometer (tkm), travel by road. In some European territories, this percentage is as high as 90%, or even more.

Market Dynamics:

Driver:

Surge in e-commerce

The growth of e-commerce has significantly increased the demand for freight transportation services, particularly semi-trailers designed for large cargo volumes. These vehicles are in high demand due to their ability to transport a wide range of goods, including consumer electronics, clothing, food, and industrial products. The demand for faster delivery times has led logistics companies to invest in more advanced semi-trailers, as customers expect quick shipping and services offering next-day or same-day delivery boosting the market growth.

Restraint:

High initial capital investment

High initial capital investment in the logistics and transportation industry creates a financial barrier for small businesses and new entrants. Semi-trailers, especially specialized ones, can cost hundreds of thousands of dollars, making it difficult for smaller companies or startups to compete with larger players. This concentration of ownership may reduce competition and potentially increase service prices in the long run, potentially affecting the market.

Opportunity:

Expansion of the global logistics and supply chain

The growth of global trade has led to a surge in the demand for transportation capacity, particularly semi-trailers, which are crucial for transporting goods across long distances. The expansion of global supply chains has resulted in higher volumes of goods being transported, necessitating more semi-trailers to accommodate the increased trade volume. Moreover the demand for specialized semi-trailers has also increased, with more customized semi-trailers being used to transport specific types of goods, such as perishable, fragile, and heavy or oversized goods driving the market.

Threat:

Stringent regulatory requirements

Semi-trailers must comply with various regulatory requirements across different countries, causing inefficiencies and additional costs. This can increase the complexity of managing international fleets and increase compliance costs. Additionally, stringent regulations in certain regions may limit semi-trailer manufacturers' ability to enter new markets or expand globally. Manufacturers may have to redesign trailers to meet local standards, limiting their ability to compete internationally or leading to higher production costs when targeting multiple markets.

Covid-19 Impact

The COVID-19 pandemic significantly impacted the semi-trailer market, causing disruptions in supply chains, manufacturing delays, and a temporary slowdown in demand. Lockdowns and labor shortages affected production, leading to delays in trailer deliveries. However, the increased demand for e-commerce and the need for efficient logistics and transportation during the pandemic eventually drove a rebound in the market. The crisis highlighted the importance of robust supply chains, fueling long-term investments in semi-trailers to support resilient and efficient global trade and transportation systems.

The dry van trailers segment is expected to be the largest during the forecast period

Over the estimation period, the dry van trailers segment is likely to capture the largest market share owing to their versatility and reliability. They can transport a wide range of goods, including electronics, textiles, packaged food, and furniture. This versatility has led to increased purchases and leasing by logistics companies, freight operators, and fleet owners. Dry van trailers also make up a significant portion of fleets owned by companies in various sectors, such as e-commerce and manufacturing, as they offer a solid return on investment.

The logistics & transportation segment is expected to have the highest CAGR during the forecast period

The logistics & transportation segment is expected to register lucrative growth during the estimation period allowing real-time tracking to monitor trailer locations and optimize routes. This has led to smarter trailers that are more efficient and easier to manage. Automation in the logistics sector is also gaining traction, with semi-trailer manufacturers incorporating intelligent features like automated braking systems, collision avoidance, and trailer stability control systems.

Region with largest share:

Over the forecast period, the North America region is anticipated to hold the largest market share owing to increased the demand for logistics and transportation solutions, including semi-trailers. These vehicles are crucial for long-haul and last-mile delivery operations due to consumer demands for faster deliveries and companies seeking efficient distribution models. North America's robust logistics infrastructure also necessitates greater reliance on semi-trailers due to the expansion of supply chains, major logistics hubs, ports, and intermodal facilities.

Region with highest CAGR:

Asia Pacific region is expected to register the highest growth rate over the forecast period due to rapid industrialization, particularly in developing countries like India, Vietnam, and Indonesia, is causing a need for efficient and cost-effective transportation solutions. China and India are major contributors to the growth of the APAC semi-trailer market due to their large manufacturing bases and complex logistics needs. Governments are investing heavily in logistics infrastructure to meet this growing demand.

Key players in the market

Some of the key players in Semi Trailer market include East Manufacturing Corporation, Fontaine Trailer, Great Dane A Division of Great Dane LLC., Hyundai Translead, Kentucky Trailer, Kögel, KRONE Trailer, Lamberet SAS, Mac Trailer Manufacturing Inc., Polar Tank Trailer., Premier Trailer Mfg. Inc., Qingdao CIMC Special Vehicles Co., Ltd, Schmitz Cargobull., Utility Trailer Manufacturing Company and Wabash National Corporation.

Key Developments:

In March 2024, Hyundai Translead announced the appointment of Truck Center Companies as its dealer for the state of Nebraska. This exciting partnership marks a significant milestone in our ongoing commitment to providing unparalleled service to our valued customers.

In March 2024, Hyundai Translead, announced the grand opening of its new Innovation Lab (iLab). The cutting-edge facility will serve as a hub for customer driven innovation and creativity, as Hyundai Translead continues to push the boundaries of what is possible in the transportation industry.

Types Covered:
• Dry Van Trailers
• Refrigerated Trailers
• Flatbed Trailers
• Tank Trailers
• Lowboy Trailers
• Curtain Side Trailers
• Other Types

Tonnages Covered:
• Below 25T
• 25-50T
• 51-100T
• Above 100T

Lengths Covered:
• Up to 45 Feet
• Above 45 Feet

Axles Covered:
• <3 Axles
• 3-4 Axles
• 4 Axles

Applications Covered:
• Logistics & Transportation
• Construction
• Oil & Gas
• Food & Beverage
• Automotive
• Agriculture
• Waste Management
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements