CIMC And Schmitz Cargobull Are Leaders In The Global Trailers Market
10 Dec, 2019
The global trailers market is concentrated, with a small number of large players holding more than one-fourth of the market. The top ten competitors in the market made up to 26.28% of the total market in 2018. Companies in the market face intense competition from both domestic and foreign players. The competition is expected to intensify in the near future with technological advances, entry of new players, and improved capacity of companies already present in the market. In 2018, China International Marine Containers (Group) Ltd. (CIMC) was the largest competitor with 8.88% of the market, followed by Schmitz Cargobull AG with 4.30%. Other major players in the global trailers market include Bernard Krone Holding SE & Co. KG, Wabash National Corporation, Utility Trailer Manufacturing Company, Hyundai Motor Company, Great Dane LLC, Randon SA Implementos E Part, EnTrans International, LLC, and MANAC Inc.
China International Marine Containers (Group) Ltd., the largest competitor in the trailers market in 2018, manufactures and markets logistics and energy equipment worldwide. CIMC offers containers, vehicles, chemical and food equipment, offshore equipment, truck trailers and logistics services, including finance solutions. The company has more than 300 subsidiaries and three listed companies. CIMC was founded in 1980 and is headquartered in Shenzhen, China. As of December 2018, the company had 50,000 employees worldwide.
China International Marine Containers’ growth strategy aims at expanding its geographic footprint through sustainable investments. In September 2016, the company started a new reefer trailer manufacturing facility in Bahrain to serve as an export hub in the Middle East region. In July 2016, CIMC acquired the UK-based semi-trailer manufacturer, Retlan Group, for GBP 91.7 million ($120.6 million) to expand into the European market.
Schmitz Cargobull AG was the second largest competitor in the trailers market in 2018. Schmitz Cargobull manufactures and markets semi-trailers, truck bodies and trailers that are used for temperature-controlled freight, general cargo and bulk goods. The company was founded in 1892 and is headquartered in Horstmar, Germany. Schmitz Cargobull employs around 6,400 people globally.
Schmitz Cargobull AG’s growth strategy also aims at strengthening its business operations through strategic expansions, in Europe and other regions globally. In September 2018, the company invested EUR 100 million ($112.8 million) in new capacity improvement in its Vreden plant, USA. In July 2017, Schmitz Cargobull entered into South Africa’s trailers market through the acquisition of 33% shares in GRW, a leading trailer manufacturer in South Africa. Through this initiative, the company focuses to expand its footprint in South Africa’s trailers market.