Global Semi-Trailer Market Insights Forecasts to 2030

• The Semi-Trailer Market Size was valued at USD 31.45 Billion in 2021.
• The Market is Growing at a CAGR of 5.28% from 2022 to 2030
• The Worldwide Semi-Trailer Market is expected to reach USD 45.84 Billion by 2030
• North America is expected to Grow the fastest during the forecast period

The Global Semi-Trailer Market Size is expected to reach USD 18.59 Billion by 2030, at a CAGR of 7.4% during the forecast period 2022 to 2030. Exponentially growing urbanization, rising industrial activity, and the significance of efficient transportation are expected to be the primary drivers of the semi-trailer market. Furthermore, the expansion of end-use sectors, as well as the developing cold chain industry, is expected to drive sales trends for semi-trailers market over the forecast period.

A semi-trailer, often referred to as a semi-trailer truck, is a transport vehicle made up of a trailer unit and one or more semi-trailers. A semi-trailer is attached to the trailer using a fifth-wheel hitch. In other words, a semi-trailer is a trailer that lacks a front axle. Semi-trailers are extensively used in a wide range of industries, including healthcare, chemical, FMCG, construction, oil and gas, food and beverage, and many more.

Semi-trailers are commonly used as part of local or global transportation infrastructure to facilitate intermodal freight shipment. Different rail flatbed train cars are modified to accommodate freight trailers or containers equipped with or without wheels. Vans, reefers, flatbeds, sidelifts, and tankers are some common types of the semi-trailer. Depending on the temperature and load, such trailers could also be refrigerated, heated, vented, or pressured. The rising demand for proper transportation, increasing adoption of various industrialization practices, growing manufacturing processes, as well as developing road networks in rural areas are likely to boost the semi-trailer market expansion throughout the projected timeframe. The demand for trailers and trucks for freight transportation is rising rapidly. As such, owing to the rapid development of infrastructure and facilities, demand for road transportation has increased, increasing the semi-trailer market.

COVID-19 Impact Semi-Trailer Market

The COVID-19 pandemic has negatively impacted the production and sales of the semi-trailers market in 2020-2021. This led to losses for industries, such as manufacturing, logistics, automobile, entertainment, restaurant, and hospitality, because of limitations on supply chain and logistics. However, most OEMs restarted vehicle production at the end of 2020. The demand for semi-trailers for the transportation of vehicles will rise directly proportionately to the expansion in vehicle production.

Key Market Drivers

Rising demand of telematics in semi-trailers

The fleet delivery service has been transformed by the advent of telematics, due to its capabilities to store and receives information from devices to remote objects over a network. The adoption of telematics in semi-trailers has helped users to retrieve more discernment about trailer visibility and real-time data. Implementation of telematics also allows for delivery scheduling and connectivity with in-cab telematics devices. Additionally, the number of partnerships between the companies has increased as a result of the integration of telematics in semi-trailers.

Rising adoption of FMCG in semi-trailer  

Fast Moving Consumer Goods (FMCG) constitutes one of the wide-ranged and high revenue generation industries globally. The FMCG products have brief storage life since they include short-lived products such as meat, dairy products, fruit & vegetables, and baked goods, as these products have high consumer demand. These products have a higher consumption rate, as they are easily available at any retail store, as well as mostly less expensive and sold in bulk volumes. The major factors driving the FMCG markets are increasing livelihood, rising population, brand recognition, and ease of availability through digitalization. As a result, the development and advancement of semi-trailer in the FMCG industry are propelling the market growth.

Key Market Challenges

The excess fuel consumption of fuel even with the empty weight of vehicles during road freight is challenging the semi-trailer market. Furthermore, it also contributes to CO2 emission, which negatively impacts the environment. In addition, reducing the overall weight of the trailer with durable materials is also a challenge for manufacturers and telematics for cost-effectiveness and control of CO2 emissions.

Market Segmentation

Type Insights

The dry van segment accounted the largest market share over the forecast period.

On the basis of type, the global Semi-Trailer market is segmented into flatbed, lowboy, dry vans, refrigerated, tankers, and others. Among these, the dry van segment is dominating the market and is going to continue its dominance over the forecast period, owing to the wide range of adoption by various industries. The dry vans are mostly utilized for transportation freight that demands for extreme road and climate conditions protections. Such trailers are widely employed by the full truckload and less than truckload fleet management systems given their cost-efficiency and utility.

Tonnage Type Insights

The below 25 T segment is dominating the market with the largest revenue share over the forecast period.

On the basis of tonnage type, the global Semi-Trailer market is segmented into below 25 T, 25 T-50 T, 51 T-100 T, and above 100 T. Among these, the below 25 T segment is dominating the market with the largest revenue share of 32.7% over the forecast period. It is the most used tonnage type in the semi-trailer for transportation. Dry vans, refrigerated semi-trailers, and tankers pertain in this tonnage type. These types of trailers are in demand because of economical transportation than the other types. Furthermore, the below 25 T segment complies with legally permitted limits globally.

Regional Insights

Asia Pacific dominates the market with the largest market share over the forecast period.

Asia Pacific is dominating the market with more than 56.8% market share over the forecast period. The increased investment in infrastructure and inland transportation, rise in construction and manufacturing industries, and rapidly growing demand from logistic and e-commerce companies are some of the key factors driving the semi-trailer market in the Asia Pacific region. The rising demand from emerging countries such as China, Japan, India, and South Korea is boosting the semi-trailer market growth in the region. Furthermore, expansion in cooperative trade and a surge in trade volumes among the nations in the region have propelled the demand for road freight transportation.

North America, on the contrary hand, is expected to grow the fastest during the forecast period owing to the major logistic sector in the region. Developed road and transportation infrastructure is a supporting factor for road connectivity, which is driving the semi-trailer market in North America. Additionally, liberalization of regulatory laws concerning semi-trailer weight carrying capacity and sizes is expected to stimulate market pressure for lightweight transport vehicles, hence driving market demand.

List of Key Market Players

• Satrac
• Montracon
• MANAC INC.
• Schmitz Cargobull AG
• Utility Trailer Manufacturing Company
• Wabash National Corporation
• China International Marine Containers
• Kogel Trailer GmbH & Co.KG
• HYUNDAI TRANSLEAD
• Fontaine Commercial Trailer, Inc.
• Dennison Trailers Ltd.
• Rac Germany
• Kassbohrer
• Great Dane
• ChassisKing, Inc.
• Shandong Arima group
• Polar Tank Trailer, LLC
• Krone Commercial Vehicle Group
• Schwarzmüller Group

Key Market Developments

• On December 2022, Fürmetz Logistik GmbH, Taufkirchen an der Vils, has now taken delivery of 15 new Krone construction material trailers. The trailers are equipped with an anti-slip floor to provide the highest possible safety for the load and when working on the trailer. The logistics company has already ordered 20 more vehicles for 2023.

• On January 2021, Marmon Highway Technologies announced the acquisition of Fontaine Trailer Company, a leading manufacturer of semi-trailers. The acquisition expands Marmon's portfolio of transportation solutions and enhances its ability to serve customers in the North American market.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the Global Semi-Trailer Market based on the below-mentioned segments:

Semi-Trailer Market, Type Analysis

• Flatbed
• Lowboy
• Dry Van
• Refrigerated
• Tankers
• Others

Semi-Trailer Market, Tonnage Type Analysis

• Below 25 T
• 25 T-50 T
• 51 T-100 T
• Above 100 T

Semi-Trailer Market, End-Use Analysis

• Heavy Industry
• FMCG
• Textile Industry
• Chemical
• Automotive
• Oil & Gas
• Food & Beverage
• Healthcare
• Logistics,
• Others

Semi-Trailer Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa