The trailer market has experienced strong growth, increasing from $57.63 billion in 2023 to $62.81 billion in 2024, at a compound annual growth rate (CAGR) of 9.0%. This growth is attributed to the expansion of freight transportation, manufacturing and industrial growth, infrastructure development, global trade expansion, and supply chain integration. The market is expected to reach $87.82 billion by 2028, reflecting a CAGR of 8.7%. Growth drivers include eco-friendly trailers, autonomous and connected trailers, safety and collision avoidance technologies, alternative fuels, and advanced aerodynamics. Major trends include telematics and connectivity, lightweight materials, refrigerated trailers, smart trailer technologies, and aerodynamic designs for specialized applications.
Major Driver In The Trailer Market
The trailer market is expected to grow indirectly due to the increasing global population, projected to reach approximately 10 billion by 2050. Population growth drives demand for various necessities, including food, automobiles, infrastructure, and transportation. The American Trucking Association highlights that trucks move about 71% of the U.S. nation's freight, a demand influenced by the country's population expansion. Similar trends are expected in countries like India, Brazil, and African nations, where population growth is anticipated to be a significant factor increasing the demand for transportation, consequently benefiting the trailer market in the forecast period.
Request A Free Sample Of The Global Trailer Market Report
Trailer Market Competitive Landscape
SAIC Hongyan Automotive Co. Ltd., Daimler Truck AG, Doggett Equipment Services Ltd., China International Marine Containers (Group) Ltd., Bernard Krone Holding SE & Co.KG, Wabash National Corporation, MAN SE, Miller Industries Inc., EnTrans International LLC, Schmitz Cargobull AG, Mac Trailer Manufacturing Inc., Heil Trailer International Co., Landoll Corporation, Trail King Industries Inc., Pitts Trailers, Doepker Industries Limited, Humbaur GmbH, Fontaine Trailer Company, East Manufacturing Company, Travis Body & Trailer Inc., Towmaster Trailers, Utility Trailer Manufacturing Company, Felling Trailers, Fruehauf Trailer Corporation, Ledwell, Krone Trailer, Böckmann Fahrzeugwerke GmbH, Ifor Williams Trailers Ltd., Kögel Trailer GmbH & Co. KG, Dennison Trailers Ltd., MANAC INC.
Key Trailer Market Trend
Automation and sensor technology are increasingly being used in the trailer industry to increase the efficiencies of dump trailers. The automation technology allows truck drivers to automatically raise and lower the lift axes of dump trailers for easy loading and unloading processes. The sensor technology reduces the chances of overloading the trailer with fixed axles and compromising tyre wear by using intelligent algorithms. Automation and sensor control systems play a vital role in reducing operational costs for transportation companies. Major industry players such as East Manufacturing Company are offering automatically deployed lift axles and rear suspension dumps in trailers.
Get The Full Global Trailer Market Report
Trailer Market Segmentation
The trailer market covered in this report is segmented –
1) By Type: Dry Vans, Refrigirated Trailers, Tank Trailers, Flatbed Trailers, Lowboy Trailers, Other Trailers
2) By Axle Type: Single Axle, Tandem Axle, Three or More Than Three Axle
3) By End-Use: Paper And Paper Products, Pharma Drugs, Textile Products, Food and Groceries, Agriculture And Farm Products, Chemicals, Petroleum And Petroleum Products, Motor Vehicle And Motor Vehicle Parts, Metal And Minerals, Commercial Machinery, Other Products
By Geography:The regions covered in the trailer market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
Asia-Pacific was the largest region in the trailer market of the trailers market in 2023.
The Trailer Global Market Report 2024 furnishes information about the global trailer market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
