Categories: Market Research

Semi-Trailer Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
A semi-trailer refers to a freight trailer without a front axle that, when attached, is supported at its forward end by the fifth wheel device of the truck tractor. The semi-trailer is used for transporting a large number of goods.

Sizing and Forecast
The semi-trailer market size has grown strongly in recent years. It will grow from $29.4 billion in 2023 to $31.73 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to freight transportation demand, infrastructure development, economic growth, e-commerce boom, global trade expansion.

The semi-trailer market size is expected to see strong growth in the next few years. It will grow to $42.29 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to sustainable transportation, digitalization in logistics, last-mile delivery solutions, infrastructure investments, autonomous freight transportation. Major trends in the forecast period include advanced technologies, electric and hybrid semi-trailers, connectivity and iot integration, automation and autonomous features, advanced safety features.

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Segmentation & Regional Insights
The semi-trailer market covered in this report is segmented –

1) By Type: Flatbed, Lowboy, Dry Van, Refrigerated, Tankers, Other Types
2) By Length: Up To 45 Feet, Above 45 Feet
3) By End-Use: Heavy Industry, FMCG, Chemical, Automotive, Oil And Gas, Healthcare, Logistics, Other End-Users

North America was the largest region in the semi-trailer market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the semi-trailer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The rise in urbanization is expected to propel the growth of the semi-trailer market going forward. Urbanization is the process by which cities develop and a rising proportion of the population moves there to live. Semi-trailers help in the transportation of goods and for carrying a large proportion of cargo, raw materials, and finished products, as a result, rising urbanization increases the demand for the semi-trailer market. For instance, according to the World Bank, globally, over 50% of the population lives in urban areas today. By 2045, the world’s urban population will increase by 1.5 times to 6 billion . Therefore, rising urbanization is driving the semi-trailers market.

Key Industry Players
Major companies operating in the semi-trailer market report are Wabash National Corporation, Schmitz Cargobull AG, Great Dane LLC, Krone GmbH & Co KG, Kogel Trailer GmbH & Co. KG, Utility Trailer Manufacturing Company, Hyundai Motor Company, Stoughton Trailers LLC, Vanguard National Trailer Corporation, MAC Trailer Manufacturing, Manac Inc., East Manufacturing Corporation, Fontaine Trailer Company, Wilson Trailer Company, Doonan Specialized Trailer LLC, Pitts Enterprises Inc., Strick Trailers LLC, Reitnouer Inc., Heil Trailer International LLC, Transcraft Corporation, Trail King Industries Inc., Travis Body & Trailer Inc., Talbert Manufacturing Inc., Timpte Inc., XL Specialized Trailers LLC, Dorsey Trailer LLC, Witzco Challenger Trailers Inc., Lode King Industries Ltd., Muv-All Trailer Company, Trail-Eze Inc.

The semi-trailer market report table of contents includes:

1. Executive Summary

2. Semi-Trailer Market Characteristics

3. Semi-Trailer Market Trends And Strategies

4. Semi-Trailer Market – Macro Economic Scenario

5. Global Semi-Trailer Market Size and Growth

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31. Global Semi-Trailer Market Competitive Benchmarking

32. Global Semi-Trailer Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Semi-Trailer Market

34. Semi-Trailer Market Future Outlook and Potential Analysis

35. Appendix