Home / Automotive & Transportation / Automotive Trailer Market
Automotive Trailer Market Size, Share, and Industry Analysis, By Trailer Type (Low Boy, Flatbed, Dry Van, Refrigerated, Tanker, and Others), By Number of Axles (Two Axles and More Than Two Axles), By Application (Construction, Industrial, Agriculture, Mining, and Others), and Regional Forecast, 2024-2032
Report Format: PDF | Published Date: Ongoing | Report ID: FBI109704 | Status : UpcomingAn automotive trailer is a non-powered vehicle that is designed to be towed behind a powered vehicle, such as a truck, car, or tractor. Trailers are used for various purposes, including transporting goods, equipment, or recreational vehicles. These trailers come in various sizes and weight capacities, ranging from small utility trailers for personal use to large commercial trailers for transporting heavy equipment or multiple vehicles. Safety features, such as brakes, lighting systems, and proper weight distribution, are crucial for safe towing and operation of automotive trailers.
Increasing construction and infrastructure activities will drive the growth of the automotive trailer market. The construction industry is a significant driver of the demand for utility trailers, flatbed trailers, and dump trailers. As infrastructure projects and commercial and residential construction activities intensify, the need for transporting construction materials, equipment, and debris increases, driving the demand for these types of trailers. The rise in e-commerce and the need for efficient transportation of goods have fueled the demand for enclosed trailers and flatbed trailers in the logistics and transportation industry.
The COVID-19 pandemic impacted the global supply chain, causing shortages of raw materials, components, and finished trailers. Many production plants had to temporarily shut down or operate at reduced capacities due to lockdowns and safety measures. Industries, such as hospitality, tourism, and recreation, experienced a loss in demand due to travel restrictions and lockdowns. Many construction projects were halted or delayed during the pandemic, leading to a temporary slowdown in demand for utility trailers, flatbed trailers, and dump trailers used in the construction industry.
The COVID-19 pandemic bolstered the growth of the logistics and e-commerce sector, leading to an increased demand for enclosed trailers and flatbed trailers used for the transportation and delivery of goods. The pandemic highlighted the requirement for supply chain resilience and agility. Trailer manufacturers and suppliers adapted by diversifying their supply sources, increasing inventory levels, and implementing flexible production strategies to better respond to market fluctuations. Overall, while the COVID-19 pandemic initially disrupted the automotive trailer market, it also presented opportunities for growth in specific segments and prompted companies to adapt and innovate. As the global economy recovers, the automotive trailer market is expected to return to normalcy, driven by factors, such as infrastructure development, e-commerce growth, and the increasing popularity of outdoor recreational activities.
Key Insights
The report covers the following key insights:
- Key Industry Developments
- Porter's Five Forces Analysis.
- Technological Developments
- Impact of COVID-19 on the Automotive Trailer Market
Segmentation
By Trailer Type | By Number of Axles | Application | By Region |
|
|
|
|
Analysis by Trailer Type
By trailer type, the market is divided into low boy, flatbed, dry van, refrigerated, tanker, and others.
The flatbed segment is set to grow at a rapid pace during the forecast period. Flatbed trailers are a type of automotive trailers that feature an open, level platform deck for carrying various types of cargo. These trailers are versatile and widely used for transporting heavy equipment, machinery, construction materials, and vehicles. Increasing construction activities, including residential, commercial, and infrastructure projects, have fueled the demand for flatbed trailers to transport heavy equipment, building materials, and prefabricated structures.
The dry van segment is expected to hold a significant market share over the forecast period. The rapid rise of e-commerce has increased the demand for efficient transportation, fueling the need for dry van trailers.
Analysis by Number of Axles
By number of axles, the market is classified into two axles and more than two axles.
The more than two axles segment will grow at the highest CAGR during the forecast period. Trailers with two axles are used for the transportation of heavy cargo. Favorable trends associated with the construction and mining industries will drive the segment’s growth within the forecast period.
The two axles segment will grow at a considerable pace over the next few years. Rising construction activities will propel the automotive trailer market growth in the future.
Analysis by Application
By application, the market is segregated into construction, industrial, agriculture, mining, and others. The construction segment will grow at the highest CAGR within the forecast period. Rapid urbanization, especially in developing countries, has created a high demand for new residential, commercial, and infrastructure projects to accommodate the growing urban population. Robust economic expansion and rising income in many countries have fueled the demand for new residential and commercial properties. Increasing output of industrial production will bolster the demand for automotive trailers within the industrial segment in the coming years.
Regional Analysis
The global market is geographically segmented into North America, Europe, Asia Pacific, and the Rest of the world. The agriculture sector is witnessing significant growth in Asia Pacific. Asia Pacific is home to over 60% of the world’s population, and the population is continuing to grow, leading to a high demand for food production. Rising incomes and urbanization have also led to changes in dietary patterns, with a higher demand for protein-rich foods, fruits, and vegetables. This will positively influence the demand for trailers during the forecast period.
The positive outlook of the manufacturing sector will propel industry growth in Europe over the next few years.
Key Players Covered
The report includes the profiles of key players, such as CIMC (China), Cometto S.p.A. (Italy), MAX Trailer (U.S.), Fontaine Trailer (U.S.), Kogel (Germany), Lamberet SAS (Italy), Nooteboom Trailers (Netherlands), Wabash National Corporation (U.S.), Utility Trailer Manufacturing Company, LLC (U.S.), Schmitz Cargobull (Germany), Polar Tank Trailer (U.S.), Heil Trailer (U.S.), Hyundai Translead, Inc. (U.S.), Kentucky Trailer (U.S.), and Schwarzmuller (Germany).
Key Industry Developments
- In October 2023, Nooteboom strengthened its sales and service network in Ireland by partnering with Exceptional Trailer Ireland Ltd. and Casey Trailers Ltd.
- In April 2023, CIMC delivered the first batch of multi-temperature refrigerated semi-trailer prototype vehicles to Sysco at the Moreno Valley factory in California.
- Global
- 2023
- 2019-2022