Reports

- Global Locations -

Headquarters

Future Market Insights, Inc.

Christiana Corporate, 200
Continental Drive, Suite 401,
Newark, Delaware - 19713,
United States

T: +1-845-579-5705

Americas

Future Market Insights, Inc.

616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989, United States

T: +1-347-918-3531

MEA

Future Market Insights

1602-6 Jumeirah Bay X2 Tower, Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates

Europe

Future Market Insights

3rd Floor, 207 Regent Street,
W1B 3HH London
United Kingdom

T: + 44 (0) 20 8123 9659
D: +44 (0) 20 3287 4268

Asia Pacific

Future Market Insights

IndiaLand Global Tech Park, Unit UG-1, Behind Grand HighStreet, Phase 1, Hinjawadi, MH, Pune – 411057, India

Semi-Trailer Market Snapshot

The Global Semi-Trailer Market is projected to reach US$ 59,836.8 Million in 2033. The surge in demand from numerous industrial sectors such as logistics, construction, retail, automotive, and food and beverages, etc. across the globe is driving the demand for Semi-Trailer.

According to FMI, the Global Semi-Trailer Market is estimated to be valued at US$ 34,738.7 Million in 2023 and is projected to increase at a CAGR of 5.6% in the forecast period from 2023 to 2033.

Market Size 2022

US$ 32,896.5 Million

Market Size 2023

US$ 34,738.7 Million

Market Size 2033

US$ 59,836.8 Million

Value CAGR (2023 to 2033)

5.6%

The semi-trailer is a freight vehicle without a front axle, with most of its weight supported by a tractor unit or a removable front axle and some of its weight partially supported by the semi-trailer itself. Semi-trailers can be relocated to the desired location. Rather than using full trailers, semi-trailers are more frequently used for cargo transportation. Detachable semi-trailers provide more flexibility than entire trailers. Most of owners use semi-trailers to transport both finished goods and raw materials. The semi-trailer incorporates the key trends, including logistics, electrification of vehicles, and autonomous trucks.

Rapid growth is being seen in the utilization of trucks and trailers for cargo transportation. People are more likely to demand the delivery of goods and products as a result of changing lifestyles and urbanization. Delivery to consumers is handled by suppliers, fast-moving consumer goods (FMCG) companies, e-commerce retailers, and suppliers. This has led to a rise in the demand for semi-trailers in the global market.

Don't pay for what you don't need

Customize your report by selecting specific countries or regions and save 30%!

Historic Market Outlook for Global Semi-Trailer Market

The analysis of Semi-Trailer demand from 2018 to 2022 showed a historical growth rate of 3.4% CAGR.

The demand for semi-trailers in the historic period has been impacted by the COVID-19 outbreak. Industries like manufacturing, logistics, automotive, restaurant, and hospitality have suffered a lot as a result of the introduction of lockdown and social distancing policies around the world. The pandemic has restricted semi-trailer sales and production around the world. Manufacturers of semi-trailers operating across the world have experienced losses as a result of the virus outbreak.

When semi-trailer manufacturing facilities had been resumed across the world after the end of the pandemic and global lockdown, the market shows a significant growth in recent years. The significant demand for semi-trailers in various end-use applications like the heavy industries sector, logistic industry, and FMCG transportation on a global scale, is the main factor driving the expansion of the Semi-Trailer market during the post-pandemic period. As a result, the global market for Semi-Trailer is expected to expand with a CAGR of 5.6% during the forecasted period.

What are the Various Factors Driving the Global Semi-Trailer Market?

The market growth of semi-trailers is being driven by rising manufacturing activity, urbanization, the demand for adequate transportation, and the widening of rural area road networks. Additionally, the market is expanding exponentially as a result of the growing adoption of cutting-edge technology to increase the demand for semi-trailer trucks and the potential for electric semi-trailer vehicles.

The demand for several cold chain products, including pharmaceuticals, poultry, fresh flowers, seafood, dairy products, fruits, and vegetables has increased as a result of the economic growth of the middle class. Furthermore, rising disposable income in developing nations has encouraged consumers to spend more on premium, organic, and fresh goods. The need for refrigerated trailers is increasing due to the cold chain industry's expansion in both developed and developing nations, that is boosting the global market for semi-trailers. Similarly, Sectors including e-commerce, trade, and heavy industries like the construction industry are experiencing high growth as a result of the growing industrialization and urbanization in developing countries, these semi-trailer vehicles are a crucial part of transportation solution in these businesses, which will increase their sales and generate lucrative growth opportunities of the targeted market.

Nikhil Kaitwade
Nikhil Kaitwade

Principal Consultant

Talk to Analyst

Find your sweet spots for generating winning opportunities in this market.

What are the Key Opportunities for the Global Semi-Trailer Market Growth?

The technological advancements in the transportation industry witnessed in the past few years have led to a switch from gas-powered vehicles to electric train vehicles globally. The development of electric semi-trailers is a similar result of ongoing efforts and research in the automotive sector. Electric semi-trailers are creating lucrative opportunities for OEMs and semi-trailer manufacturers globally. Similarly, rising fuel prices and strict environmental regulations have increased the demand for advanced trailer technologies among fleet owners. Fleet owners are gradually moving towards owning lighter semi-trailers which improve fuel efficiency, reduce operating costs, enhance fleet safety and expand asset connectivity and mobile resource productivity. These advancements in manufacturing technology also creating growth opportunities for demand of semi-trailers globally.

The introduction of a telematics system in the semi-trailer is also one of the factors creating a market growth opportunity for the semi-trailer. The driver experience has been changed and improved because of telematics. Telematics has made it possible for drivers to have deeper knowledge regarding the visibility of trailers and real-time data. The adoption of telematics also makes it possible to schedule deliveries and communicate with in-cab telematics devices easily. Advanced trailer technologies including telematics and safety systems are also anticipated to create an opportunity for a significant demand for semi-trailers in the global market.

What is the Regional Analysis of the Global Semi-Trailer Market Share?

The East Asia and the North America are among the top regions in terms of consumption of semi-trailers, and they will collectively account for a significant share of the global Semi-Trailer market in 2022.

The expansion of the logistics sector is the main factors propelling the growth of the North America region in terms of Semi-trailer sales. The construction and FMCG industries, which have a high need for semi-trailers for transportation, are other sectors contributing to the expansion of the North America market.

Increased industrialization, the growth of the manufacturing and agricultural sectors have resulted in heavy dependency on road freight transportation in the countries of the East Asia region. The rise of the electronic, textile, and clothing industries is also a prominent driver of East Asian nation's rapid economic development as they move toward wider economic integration. Moreover, the transportation of these materials, products, or goods using roadways plays an integral role. This contributes to a rise in semi-trailer sales in the East Asian region.

Get the data you need at a Fraction of the cost

Personalize your report by choosing insights you need
and save 40%!

Market Competition

Key players operating in the Global Semi-Trailer Market include Wabash National, Great Dane, Hebei Shunjie, Fahrzeugwerk Bernard Krone, Schmitz Cargobull, Liangshan Huayu, CIMC, Utility Trailer, Lamberet SAS, Sinotruk, Hyundai Translead, Vanguard National Trailer Corp, Stoughton Trailers LLC, MANAC, Timpte Inc., MAC Trailer Manufacturing, Strick Corporation, Heil Trailer International, Co., Con-way Manufacturing, Polar Tank Trailer, Pitts Enterprises, East Manufacturing Company, Trail King Industries, Doepker Industries, Fontaine Trailer Company, and Reitnouer Inc., etc.

The existing and newly established companies dominate the global semi-trailer market. An in-depth analysis of the statistics for the semi-trailer manufacturing industry shows that certain companies can lead the market by implementing newer, more cutting-edge technology and by consistently changing their business practices to increase their revenue share. Key companies are, however, strengthening their market positions through product portfolio development and smart mergers and acquisitions.

Some of the key developments are:

  • In November 2021, Schmitz Cargobull, Europe’s top semi-trailer manufacturer, unveiled the S. KO PACE SMART, a fully modular dry-freight semi-trailer explicitly designed for the United kingdom and Irish operators with market-specific features.
  • In November 2020, DHL forged unveiled the new fleet of BYD Class 8 battery-electric tractor-trailer vehicles with an aim of emission reduction and protection goals that can create an opportunity for environment-friendly transportation.

Scope of the Report

Attribute

Details

Growth Rate

CAGR of 5.6% from 2023 to 2033

Base Year for Estimation

2022

Historical Data

2018 to 2022

Forecast Period

2023 to 2033

Quantitative Units

Revenue in USD Million, Volume in Units, and CAGR from 2023 to 2033

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis

Segments Covered

  • Type
  • Tonnage
  • Number of axles
  • End-Use
  • Region

Regions Covered

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • East Asia
  • South Asia and Pacific
  • Central Asia
  • Russia & Belarus
  • Balkan & Baltic Countries
  • The Middle East and Africa

Key Countries Covered

  • USA
  • Canada
  • Mexico
  • Brazil
  • Argentina
  • Germany
  • The United kingdom
  • France
  • BENELUX
  • Nordics
  • Italy
  • Spain
  • Poland
  • Hungary
  • Romania
  • Czech Republic
  • China
  • Japan
  • India
  • ASEAN
  • Turkey
  • South Africa
  • Northern Africa
  • KSA
  • UAE
  • Israel
  • Australia & New Zealand

Key Companies Profiled

  • Wabash National
  • Great Dane
  • Hebei Shunjie
  • Fahrzeugwerk Bernard Krone
  • Schmitz Cargobull
  • Liangshan Huayu
  • CIMC
  • Utility Trailer
  • Lamberet SAS
  • Sinotruk
  • Hyundai Translead
  • Vanguard National Trailer Corp.
  • Stoughton Trailers LLC
  • MANAC
  • Timpte Inc.
  • MAC Trailer Manufacturing
  • Strick Corporation
  • Heil Trailer International
  • Con-way Manufacturing
  • Polar Tank Trailer
  • Pitts Enterprises
  • East Manufacturing Company
  • Trail King Industries
  • Doepker Industries
  • Fontaine Trailer Company
  • Reitnouer Inc.

Customization and Pricing

Available upon Request

Key Segments Profiled in the Semi-Trailer Market Report Semi-Trailer Market

By Type, Semi-Trailer Market is segmented as:

  • Lowboy
  • Flatbed
  • Refrigerated
  • Dry Van
  • Others

By tonnage, Semi-Trailer Market is segmented as:

  • <25 tons
  • 25 to 50 tons
  • 50 to 100 tons
  • >100 tons

By number of axles, Semi-Trailer Market is segmented as:

  • <3 axles
  • 3 to 4 axles
  • >4 axles

By End-use, Semi-Trailer Market is segmented as:

  • Heavy industry
  • FMCG
  • Automotive
  • Logistic
  • Healthcare

By Region, Semi-Trailer Market is segmented as:

  • North America
  • Latin America
  • Europe
  • South Asia and Pacific
  • East Asia
  • Middle East and Africa

Frequently Asked Questions

What was the value of the Semi-Trailer Market in 2022?

In 2022, the value of the Global Semi-Trailer Market reached over US$ 32,896.5 Million.

At what rate is the Global Semi-Trailer Market projected to expand during the forecast period?

During the forecast period, the Global Semi-Trailer Market is estimated to expand at a CAGR of 5.6% during 2023 to 2033.

By 2033, what will the value of the Global Semi-Trailer Market?

The Global Semi-Trailer Market is projected to reach US$ 59,836.5 Million by the end of 2033.

Which region/country is set to lead the Global Semi-Trailer Market?

East Asia and North America are projected to lead the Global Semi-Trailer Market in the forecast period.

Which are the top players in the Global Semi-Trailer Market?

The key players operating in the Global Semi-Trailer Market are Wabash National, Great Dane, Hebei Shunjie, Fahrzeugwerk Bernard Krone, Schmitz Cargobull, Liangshan Huayu, CIMC, Utility Trailer, Lamberet SAS, Sinotruk, Hyundai Translead, Vanguard National Trailer Corp, Stoughton Trailers LLC, MANAC, Timpte Inc., MAC Trailer Manufacturing, Strick Corporation, Heil Trailer International, etc.

Explore Automotive Insights

View Reports

Semi-Trailer Market

Schedule a Call