Rolling Towards Success: Forecasted Expansion of Global Semi Trailer Industry to USD 54.5 Billion

 The global semi-trailer industry is poised for substantial growth, with an anticipated Compound Annual Growth Rate (CAGR) of 6.0% from its 2020 value of USD 30.5 billion to reach USD 54.5 billion by 2027. Road transportation remains a preferred mode of goods transport due to its strong inland accessibility and cost advantages over other modes. Factors such as increasing manufacturing activities, urbanization, the demand for efficient transportation, and the expansion of rural road networks are key drivers propelling the semi-trailer industry forward.

North America is expected to dominate the global semi-trailer market, driven by factors like improved road infrastructure, a burgeoning supply chain industry, and government regulations governing weight capacity and dimensions for semi-trailers.

Various industries including construction, retail, automobile, and food & beverage are witnessing rising demands for bulk material transportation, thereby boosting the need for semi-trailers. Manufacturers are actively working to reduce the weight of semi-trailers to align with current and future demands. This weight reduction trend offers leading industry players an opportunity to maintain their market dominance.

The expansion of manufacturing activities in both developing and developed regions is anticipated to further fuel the growth of the semi-trailer industry. However, challenges such as pressure on manufacturers to maintain competitive pricing and inadequate infrastructure in emerging regions could act as restraints.

The road freight transportation market is expected to benefit from the growing use of alternative fuels, driving the demand for semi-trailers. Manufacturers are incorporating advanced technologies to enhance vehicle performance. For instance, Finnish company Ekeri introduced a semi-trailer with a side-opening design, expected to save 30 minutes on each regular run. Similarly, German company Kässbohrer recently unveiled 18 new semi-trailer models across four product groups to meet evolving market demands.

Technological advancements like telematics, electrification, digitalization, and autonomous driving are revolutionizing semi-trailers. Emerging opportunities such as advanced trailer telematics and AI-based optimization are reducing congestion, enhancing efficiency, and cutting costs. In 2016, around 20% of semi-trailers in the United States were equipped with telematics, enabling data collection on temperature and fuel management.

Reducing a vehicle’s empty weight significantly impacts fuel consumption and CO2 emissions in road haulage. Consumer demands for modern urban articulated trailers now focus on reduced weight, interchangeable bodies, and cost competitiveness. Original Equipment Manufacturers (OEMs) and fleet operators are challenged to lower trailer weight using robust materials to save costs and reduce emissions.

COVID-19 Impact on the Semi-Trailer Market

The COVID-19 pandemic led to lockdowns, resulting in reduced industrial production and poor demand for semi-trailers. Production and sales of semi-trailers decreased due to disruptions in the global supply chain ecosystem. For instance, Schmitz, a prominent European semi-trailer manufacturer, experienced a 28% drop in units produced during 2019–2020. Reduced production hours impacted the company’s overall production rates, resulting in losses for that quarter.

​About VynZ Research:
VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. VynZ has a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies.
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