What Fueled The Previous Growth In The Semi-Trailer Market?
The semi-trailer market has seen considerable growth due to a variety of factors.
• The market size of semi-trailers has seen a significant surge in recent times. The projection shows an increase from $31.29 billion in 2024 to $33.57 billion in 2025, with a compound annual growth rate (CAGR) of 7.3%.
This growth during the historical period is linked to factors such as the demand for freight transportation, development of infrastructure, economic expansion, the rise of e-commerce, and the growth of global trade.
What Is The Expected Growth In The Semi-Trailer Market Size?
The semi-trailer market is expected to maintain its strong growth trajectory in upcoming years.
• Over the coming years, the semi-trailer market is projected to experience robust growth, with its value anticipated to reach $45.1 billion in 2029, reflecting a compound annual growth rate (CAGR) of 7.7%.
This growth during the forecast period is likely to be driven by factors such as green transportation, logistics digitalization, last-mile delivery solutions, investments in infrastructure, and self-driven freight transportation. Predominant trends during this forecasted period are expected to be innovative technologies, the emergence of electric and hybrid semi-trailers, enhanced connectivity and integration with the Internet of Things (IoT), automation and self-driving functionalities, as well as advanced safety measures.
What Are the Critical Driver Fuelling the Semi-Trailer Market's Growth?
The surge in urban development is anticipated to boost the growth of the semi-trailer market. Urbanization refers to the evolution of cities and the increasing percentage of the population choosing to reside there. Semi-trailers play a crucial role in transporting goods and are responsible for carrying a large share of cargo, raw materials, and finished commodities, therefore, escalating urbanization escalates the demand for the semi-trailer market. For example, the World Bank states that more than 50% of the global population currently reside in urban areas. By 2045, the urban population across the globe is projected to rise by 1.5 times to 6 billion. Consequently, the upsurge in urbanization is fueling the semi-trailers market.
How Is the Semi-Trailer Market segmented?
The semi-trailer market covered in this report is segmented –
1) By Type: Flatbed, Lowboy, Dry Van, Refrigerated, Tankers, Other Types
2) By Length: Up To 45 Feet, Above 45 Feet
3) By End-Use: Heavy Industry, FMCG, Chemical, Automotive, Oil And Gas, Healthcare, Logistics, Other End-Users
Subsegments:
1) By Flatbed: Standard Flatbed, Step Deck Flatbed, Double Drop Flatbed
2) By Lowboy: Fixed Neck Lowboy, Removable Gooseneck (RGN) Lowboy
3) By Dry Van: Standard Dry Van, High Cube Dry Van
4) By Refrigerated: Single Temperature Refrigerated, Multi-Temperature Refrigerated
5) By Tankers: Liquid Tankers, Gas Tankers, Dry Bulk Tankers
6) By Other Types: Car Haulers, Specialty Trailers, Container Chassis
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What New Trends Are Influencing the Semi-Trailer Market?
The rise in demand for advancements in trailer technology represents a significant trend in the semi-trailer market. To maintain their market status, major firms in the semi-trailer sector are introducing innovative technologies for trailers. For instance, Ashok Leyland, a company from the Indian automotive industry, launched AVTR 4220 with 41.5T GCW and AVTR 4420 with 43.5T GCW in the 4x2 tractors segment in July 2022. The standout features of these two tractor-trailers include a proven H6 engine 6-cylinder engine equipped with i-Gen6 technology, GCW options of 41.5T and 43.5T aligned with a compatible 2-axle trailer, enhanced fluid efficiency, reduced DEF consumption, and extra cabin alternatives. The vision behind these trailers was to allow corporations to manufacture products that can be customized according to the demands of each customer.
Who Are the Key Players in the Semi-Trailer Market?
Major companies operating in the semi-trailer market include:
• Wabash National Corporation
• Schmitz Cargobull AG
• Great Dane LLC
• Krone GmbH & Co KG
• Kogel Trailer GmbH & Co. KG
• Utility Trailer Manufacturing Company
• Hyundai Motor Company
• Stoughton Trailers LLC
• Vanguard National Trailer Corporation
• MAC Trailer Manufacturing
• Manac Inc.
• East Manufacturing Corporation
• Fontaine Trailer Company
• Wilson Trailer Company
• Doonan Specialized Trailer LLC
• Pitts Enterprises Inc.
• Strick Trailers LLC
• Reitnouer Inc.
• Heil Trailer International LLC
• Transcraft Corporation
• Trail King Industries Inc.
• Travis Body & Trailer Inc.
• Talbert Manufacturing Inc.
• Timpte Inc.
• XL Specialized Trailers LLC
• Dorsey Trailer LLC
• Witzco Challenger Trailers Inc.
• Lode King Industries Ltd.
• Muv-All Trailer Company
• Trail-Eze Inc.
What Is The Most Dominant Region In The Semi-Trailer Market?
North America was the largest region in the semi-trailer market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the semi-trailer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
