Trailer Market 2023 Analysis By Size, Share, Growth, Trends Up To 2032 | China International Marine Containers (Group) Ltd., Schmitz Cargobull AG, Bernard Krone Holding SE & Co. KG

The Trailer Global Market Report 2023 by The Business Research Company, provides trailer market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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https://www.thebusinessresearchcompany.com/report/trailer-global-market-report

According to The Business Research Company’s Trailer Global Market Report 2023, the market size grew from $52.61 billion in 2022 to $58.28 billion in 2023 at a compound annual growth rate (CAGR) of 10.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The trailer market is expected to grow to $85.65 billion in 2027 at a CAGR of 10.1%.

The global population is growing and is expected to reach about 10 billion by 2050, indirectly driving the trailer market. An increase in the population creates more demand for food, automobiles, infrastructure, and transportation.

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The trailer market is segmented:

1) By Type: Dry Vans, Refrigirated Trailers, Tank Trailers, Flatbed Trailers, Lowboy Trailers, Other Trailers

2) By Axle Type: Single Axle, Tandem Axle, Three or More Than Three Axle

3) By End-Use: Paper And Paper Products, Pharma Drugs, Textile Products, Food and Groceries, Agriculture And Farm Products, Chemicals, Petroleum And Petroleum Products, Motor Vehicle And Motor Vehicle Parts, Metal And Minerals, Commercial Machinery, Other Products

Automation and sensor technology are increasingly being used in the trailer industry to increase the efficiencies of dump trailers. The automation technology allows truck drivers to automatically raise and lower the lift axes of dump trailers for easy loading and unloading processes. The sensor technology reduces the chances of overloading the trailer with fixed axles and compromising tyre wear by using intelligent algorithms. Automation and sensor control systems play a vital role in reducing operational costs for transportation companies. Major industry players such as East Manufacturing Company are offering automatically deployed lift axles and rear suspension dumps in trailers.

The trailer market report table of contents includes: