LONDON, Oct. 20, 2022 (GLOBE NEWSWIRE) — The increased demand for technological advancements in trailers is gaining popularity among semi-trailer market trends, according to a research report on the semi-trailer market by Business Research Corporation. Major companies operating in the semi-trailer market are developing new technologies for trailers in order to maintain their position in the market. For example, in April 2020, WABCO, a U.S.-based supplier of vehicle control systems for semi-trailers and related heavy-duty vehicles, and Sioen Industries, a Belgium-based chemical manufacturing and technical textile processing company, launched an innovative connected technology to Prevent trailer cargo theft called Detector Solutions. Sioen has upgraded its dynatex protector technology, powered by WABCO’s advanced fleet management solution, to trigger tarpaulin alarms and enable real-time monitoring and management of trailer entry and exit. This combination of technologies can control trailer violations in real time.
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The global semi-trailer market size is expected to grow from $25.74 billion in 2021 to $26.94 billion in 2022 compound annual growth rate (compound annual growth rate) or 4.7%. The Russian-Ukrainian war has undermined the chances of the global economy recovering from the COVID-19 pandemic, at least in the short term. The war between the two countries has resulted in economic sanctions against multiple countries, soaring commodity prices and disrupted supply chains, affecting many markets around the world.The semi-trailer market share is expected to grow to $36.45 billion in 2026 compound annual growth rate (compound annual growth rate) or 7.9%.
Accelerating urbanization is expected to drive the growth of the semi-trailer market. Urbanization is the process of urban development, and more and more people move to cities. Semi-trailers help in the transportation of goods and are used to carry most of the goods, raw materials and finished products, therefore, the acceleration of urbanization has increased the demand for the semi-trailer market. For example, the proportion of the population living in cities rose to 56.2 percent by 2020, according to the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental organization. The proportion in rich countries is 51.6%, higher than 51.6% in developing countries, which is 79.2% in 2020. Therefore, the acceleration of urbanization is driving the semi-trailer market.
The major players in the semi-trailer market are Wabash National Corporation, Schmitz Cargobull AG, Great Dane LLC, Krone GmbH & Co. KG, Kögel Trailer GmbH & Co.KG, Pitts Trailers, Utility Trailer Manufacturing Company, Hyundai Translead Inc., Premier Trailer Manufacturing Inc, Mac Trailer Manufacturing, RAC-Germany, SDC Trailers Ltd, Dennison Trailers, Karl Kässbohrer Fahrzeugwerke GmbH and Van Hool Nevada
The global semi-trailer market is segmented by type into flatbed, low profile, dry truck, refrigerated, tanker and others; by length up to 45 feet, over 45 feet; by end use into heavy industry, FMCG, chemical, automotive, petroleum and Natural gas, healthcare, logistics and other end users.
North America Yes maximum area Semi-trailer market in 2021. Asia-Pacific is expected to be fastest growing region Semi-trailer market over the forecast period. The regions covered in the Semi-Trailer Industry Report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Semi-trailer Global Market Report 2022 – Market Size, Trends and Global Forecast 2022-2026 is one of a series of new reports from Business Research firm that provides Semi-trailer market forecast size and growth, semi-trailer segment and geography I. Semitrailer Market Trends, Drivers and Restraints, Revenue, Overview and Market Share of Leading Competitors in Semitrailer Market There are over 1,000 industry reports covering over 2,500 segments and 60 regions. The report also provides an in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Market analysis and forecasts are provided by a seasoned and expert team of analysts and modelers. These reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
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