Semi-Trailer Market Set to Record a CAGR of 5.32% During 2019-2024
DUBLIN, July 29, 2019 /PRNewswire/ -- The "Semi-Trailer Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
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The semi-trailer market is expected to register a CAGR of 5.32% during the forecast period, 2019-2024.
Key Highlights
-- The majority of the transportation in the energy, construction,
automotive, and manufacturing sectors happens through road and trailers,
due to their flexibility and versatility. Semi-trailers are more popular
than full-trailers.
-- The increasing use of alternative fuels is expected to drive the growth
prospects for the road freight transportation market, over the forecast
period.
-- Semi-trailer manufacturers are developing and adopting advanced
technologies, in order to enhance the efficiency of vehicles. For
instance; Ekeri, a Finland-based company, has developed a side opening
design for a semi-trailer, which is likely to save 30 minutes on each
daily run. Similarly, Kssbohrer, a German-based company ,has recently
launched 18 new models of semi-trailers across four product groups, in
response to the changing trends in the industry, and to cater to the
exact requirements of customers.
-- Asia-Pacific is the largest market for semi-trailers and is expected to
grow at the fastest pace beyond 2020.
-- Many heavy commercial vehicles in India are outdated and due for
replacement. Strict emission norms will result in an increase in the
demand for replacements, thus, driving the growth in the Indian
semi-trailer market.
Major Market Trends
Rising Demand for Refrigerated-type Trailer
A refrigerated semi-trailer is designed to carry goods at a specific temperature. These vehicles are equipped with any mechanical refrigeration systems, powered by small displacement diesel engines, and utilize carbon dioxide as a cooling agent. The demand for frozen food products across the country has been increasing over the past five years. This spike has laid roots for the demand for refrigerated semi-trailers.
Great Dane Trailers, Wabash National, Schmitz Cargobull, Utility Trailer Manufacturing, Kogel Trailer GmbH, and Krone GmbH are the major players that dominated the refrigerated trailer market during 2018. The key focus of these companies is to design and develop refrigerated trailers with advanced technology and improved operational efficiency. In addition to this, third-party logistics service providers are increasing their trailer feet, due to the increasing demand for refrigerated trailers.
The companies are collaborating and developing technologically advanced products. For instance;
-- Dearman System has collaborated with Paneltex for developing the
zero-emission transport refrigeration. A transport refrigeration unit
(TRU), powered by a secondary diesel engine, can emit up to six times as
much nitrogen oxide (NOx), and almost 30 times as much particulate
matter (PM). However, the Dearman TRU eradicates all emissions of NOx
and PM, offering a significant improvement in air quality, along with
reducing carbon footprint and noise.
-- ABCO Transportation, a leading transportation service provider in
Missouri (United States), offers refrigerated semi-trailers. The company
has installed the latest technology to support the changing demands of
the market. The vehicles provided by ABCO also ensure safety and have
tracking equipment, such as GPS mobile communication and mobile scanning
devices. ABCO has partnered with R+L Carriers, Paramount Freight
Systems, and R+L Global, to expand its services to greater coverage.
Asia Pacific and North America - Largest Markets
Asia-Pacific is the largest market for semi-trailers and is expected to grow at the fastest pace during the forecast period, followed by North America. The growth is primarily contributed by the increase in inland transportation, rising investments in infrastructure and construction activities, and continually increasing demand from the logistics sector.
Most of the heavy commercial vehicles in India are outdated and are due for replacement. Stringent emission norms will result in high replacement demand, driving the growth in the semi-trailer market.
Furthermore, the United States has witnessed positive growth in the commercial vehicle sales during 2015-2018, majorly owing to their growing operations in the e-commerce and logistics sectors.
Mexico, on account of increased exports and expanded domestic market, witnessed the fastest growth rate. The majority of the transportation in the energy, construction, automotive, and manufacturing sector happens through the road; semi-trailers, and due to their flexibility and versatility, they are more popular than full trailers, and are considered as the viable option.
Competitive Landscape
Great Dane, Wabash National, Krone, Utility Trailers, China International Marine Containers, and Schmitz Cargobull are the major players operating in the semi-trailer market.
The manufacturers of semi-trailers are developing and adopting advanced technologies, in order to enhance the efficiency of the vehicle. For instance; Ekeri, a Finland-based company, has developed a side opening design for a semi-trailer, which is likely to save 30 minutes on each daily run. Similarly, Kssbohrer, a German-based company, recently launched 18 new models of semi-trailers across four product groups, in response to the changing trends in the industry, and to cater to the exact requirements of its customers.
Utility Trailer Manufacturing Company is the oldest, privately owned, family-operated trailer manufacturer, and the largest producer of refrigerated vans, in the United States. During 2018, the company built around 47,000 trailers.
Key Topics Covered
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Current Market Scenario
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Vehicle Type
5.1.1 Low Boy
5.1.2 Flatbed
5.1.3 Refrigerated
5.1.4 Dry Van
5.1.5 Other Vehicle Types
5.2 By Foot Length
5.2.1 28-45 Foot
5.2.2 Greater than 45 Foot
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Rest of Asia-Pacific
5.3.4 Rest of the World
5.3.4.1 South America
5.3.4.2 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 East Manufacturing Company
6.2.2 Hyundai Translead
6.2.3 Kentucky Trailer
6.2.4 MAC Trailer Manufacturing
6.2.5 Manac
6.2.6 Wabash National Corporation
6.2.7 Great Dane
6.2.8 Pitts Trailers
6.2.9 Premier Trailer Mfg. Inc.
6.2.10 China International Marine Containers
6.2.11 Schmitz Cargobull
6.2.12 Krone Trailers
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/mzsi3l
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