What Is The Current and Historic Market Size Analysis Of The Car Carrier Market?
The car carrier market has seen considerable growth due to a variety of factors.
• The car carrier market has grown strongly in recent years. It will grow from $12.07 billion in 2024 to $12.87 billion in 2025, at a compound annual growth rate (CAGR) of 6.7%.
The growth is due to the demand for last-mile delivery services, increasing personal transportation demand, growing e-commerce, population growth, and the expansion of international trade in the automotive sector.
What are the Market Size and Expected Growth Rates for the Car Carrier Market?
The car carrier market is expected to maintain its strong growth trajectory in upcoming years.
• The car carrier market is expected to grow significantly, reaching $16.43 billion by 2029, with a CAGR of 6.3%.
This growth can be attributed to the rising preference for fuel-efficient carriers, growth in the automotive industry, increasing global trade, shifting trade patterns, and a demand for eco-friendly logistics solutions. Trends include the need for fuel-efficient and eco-friendly transport, adoption of new technologies, autonomous car carrier testing, demand for customized transport, and the rise of digital platforms.
Which Key Drivers Are Propelling The Car Carrier Market's Growth?
The rise of the automotive industry is expected to drive the growth of the car carrier market. The automotive industry is expanding due to economic growth and consumer demand. Car carriers are essential for transporting vehicles from manufacturers to dealerships or between locations. In June 2024, it was reported that the number of registered motor vehicles in Canada reached 26.3 million in 2022, indicating the growth of the automotive industry and driving the car carrier market.
What Are The Key Segments Within The Global Car Carrier Market?
The car carrier market covered in this report is segmented –
1) By Type: Open-Air Car Carrier, Enclosed Car Carrier
2) By Material: Steel, Aluminum, Fiber, Plastic
3) By Vehicle Type: Passenger Cars, Sports Utility Vehicles (SUVs), Commercial Vehicles
4) By End-User: Automotive Sales Service Shop 4S, Terminals, Other End-Users
Subsegments:
1) By Open-Air Car Carrier: Single-Level Open-Air Car Carrier, Multi-Level Open-Air Car Carrier, Large Capacity Open-Air Car Carrier
2) By Enclosed Car Carrier: Standard Enclosed Car Carrier, Luxury Or High-End Enclosed Car Carrier, Customizable Enclosed Car Carrier, Climate-Controlled Enclosed Car Carrier
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What Emerging Trends Are Influencing The Growth Of The Car Carrier Market?
Companies in the car carrier market are focusing on LNG battery hybrid car carriers to reduce environmental impact. These carriers combine LNG and battery propulsion for greener transportation. In January 2022, United European Car Carriers (UECC) introduced an LNG battery hybrid car carrier with a capacity of 3,600 vehicles. This vessel meets strict emission regulations and incorporates dual-fuel technology to reduce its environmental footprint.
Who Are the Key Players In The Car Carrier Market?
Major companies operating in the car carrier market are:
• Miller Industries Inc.
• Featherlite Trailers
• Big Tex Trailers
• PJ Trailers
• Cottrell Trailer
• Kässbohrer Transport Technik GmbH
• Load Trail LLC
• Bravo Trailers LLC
• ATC Trailers
• Haulmark Trailers
• H&H Trailers
• Sundowner Trailers
• Aluma
• Cargo-Mate Trailers
• Jerr-Dan carriers
• Boydstun
• T and E Auto Haulers
• CIMC Vehicles (Group) Co. Ltd.
• Sure-Trac Trailers
• Appalachian Trailers
• Wally-Mo Inc.
What Are The Regional Insights Into The Car Carrier Market?
North America was the largest region in the car carrier market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the car carrier market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
