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| Semi-Trailer Market |
Semi-trailers are truck trailers without an front axle that primarily carry freight. They are essential for long-haul transportation and logistics. Their advantages include higher payload capacity, improved fuel efficiency, and reduced road wear compared to trucks. The need for cost-effective freight transportation is ever increasing with growing international trade.
The global Semi-Trailer Market is estimated to be valued at US$ 32.3 Bn in 2023 and is expected to
exhibit a CAGR of 3.7% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market key trends: Increased cross-border trade between countries has been a
major driver of semi-trailer market growth. International freight
transportation facilitates import and export of raw materials and finished
goods globally. The expansion of E-commerce has also boosted demand for freight
transportation via semi-trailers. To serve the growing needs of cross-border
logistic companies, trailer manufacturers have increased production
capabilities. Adoption of advanced technologies like telematics and sensors for
asset tracking has further optimized transportation networks and fleet
management.
Segment Analysis
The global semi-trailer market is dominated by the dry freight segment. Dry
freight semi-trailers are designed for transporting general cargos such as
consumer goods, industrial goods, and electronics. This segment accounts for
over 60% of the global semi-trailer market owing to the widespread demand for
transporting dry bulk containers and general shipments. The refrigerated
semi-trailer segment holds the second position in the global market. It is
majorly used to transport perishable goods such as fruits, vegetables, dairy
products, meat, and fish that require temperature-controlled transportation.
Key Takeaways
The global Semi-Trailer
Market Growth is expected to witness high growth during the forecast
period of 2023 to 2030. The market size is projected to reach US$ 32.3 Bn by
2023.
Regional analysis:
North America is currently the largest and dominating regional market for
semi-trailers, driven by robust trade volumes in the US and Canada.Stringent
regulations regarding vehicle safety and emissions are propelling trailer
manufacturers in the region to invest heavily in the development of advanced
semi-trailer designs. Europe holds the second position in the global
semi-trailer market supported by stringent government regulations for road
safety and transport standards.
Key players:
Key players operating in the semi-trailer market are Schmitz Cargobull, China
International Marine Containers (Group) Ltd., Polar Tank Trailer, Llc (Entrans International,
Llc Company), Fontaine Commercial Trailer, Inc., Lamberet Sas (Xinfei France
Sa), Great Dane, Krone Commercial Vehicle Group (Bernard Krone Holding), and
Kogel Trailer Gmbh & Co.Kg. Schmitz Cargobull accounts for over 20% of
market share and leads the dry freight segment globally.
For more insights, read- https://www.ukwebwire.com/semi-trailer-market-trends-size-and-share-analysis/
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