Semi-Trailer Market Players: Great Dane, Lamberet SAS, Polar Tank Trailer, LLC, And Schmitz Cargobull
Semi-trailer Industry Overview
The global semi-trailer market size is anticipated to reach USD 29.36 billion by 2028, expanding at a CAGR of 5.8%, according to a new report by Grand View Research, Inc. Increasing demand across the construction, defense, automotive, and energy sectors is anticipated to be a key factor driving market growth. In addition, increasing dependence of e-commerce companies on third-party logistics (3PL) providers to ensure transportation of goods through hub and spoke distribution model is also expected to augment market growth in the coming years.
Furthermore, expanding cold chain and logistics industry is contributing significantly to the market growth. Less than truckload (LTL) and full truckload (FTL) freight shipping companies worldwide are increasingly adopting semi-trailers due to the versatility being offered in terms of load-carrying capacity. As compared to rigid trucks, semi-trailers offer the lowest cost of transportation per ton per km, which is further enhancing its adoption.
Over the last few years, the product demand has witnessed strong growth on account of positive growth observed in the oil & gas industry. In the coming years, the market is poised to register steady growth due to relaxation of regulations with respect to length and load-carrying capacity of semi-trailers. Government regulations supporting the introduction of lightweight and eco-friendly transport vehicles are expected to shape the future market demand. However, lack of proper infrastructure required for transportation, especially in emerging economies is hampering the semi-trailer market growth.
Manufacturers are increasingly incorporating advanced technologies such as driver assistance systems (DAS) and other connectivity solutions into their products to help their consumers (fleet operators/logistics service providers) enhance operational efficiency. Furthermore, growing preference for platooning and introduction of electric semi-trailer trucks are expected to create huge opportunities for the manufacturers in the coming years. Manufacturers are increasingly focusing on introducing lightweight transport vehicles through improved designs and lighter components to ensure greater productivity and payload.
Semi-trailer Market Segmentation
Grand View Research has segmented the global semi-trailer market based on type and region:
Based on the Type Insights, the market is segmented into Flat Bed Trailer, Dry Vans, Refrigerated Trailers, Lowboy Trailers, Tankers, and Others.
- The dry vans segment accounted for the largest volume share of over 35.0% in 2020 and is anticipated to maintain its lead over the forecast period, with wide applications across multiple industries. Dry vans are generally used to transport freight that requires nominal protection against road and climate conditions.
- The flat bed trailer segment captured a sizeable volume share in 2020 and is estimated to expand at the second-highest CAGR of 6.4% in terms of revenue from 2021 to 2028. The growth in the construction industry across developed and emerging economies is anticipated to fuel the segment growth.
- Flat bed trailers are generally used to transport heavy cargo, such as heavy machinery and construction materials and equipment. Besides, the adoption of refrigerated trailers is expected to increase significantly due to the expanding cold chain
Semi-trailer Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market for semi-trailers is highly fragmented due to the presence of several global and regional players. Organic growth remains the key strategy among the industry participants with a major focus on product launches and expansions to expand their presence across the untapped market and meet consumer needs. For example, in June 2021, Schmitz Cargobull, a European manufacturer of semi-trailers, announced the opening of its new factory in Manchester. Through this expansion, the company aims to build customized vehicles for the U.K. and Irish operators.
Furthermore, there is an increasing trend towards collaboration among component suppliers and OEMs. The OEMs are focusing on forming strategic partnerships with component suppliers in order to ensure a consistent supply of inventory. With the advent of autonomous trailers equipped with advanced telematics, demand for these variants is on the rise, and manufacturers are hence compelled to scale up their production volumes to meet the growing demand.
Recent Developments
- In March 2020, American Trailer Rental Group LLC, a portfolio company of Milton Street Capital LLC, acquired Advantage Trailer Leasing Inc. This acquisition helps to have greater access to high-quality equipment and a larger customer base to serve
- In June 2021, Fruehauf announced the launch of a new service in collaboration with Telematics Leader Novacom
Some prominent players in the global semi-trailer market include:
- China International Marine Containers (Group) Ltd.
- Fontaine Commercial Trailer, Inc.
- Great Dane
- Kogel Trailer GmbH & Co.KG
- Krone Commercial Vehicle Group
- Lamberet SAS
- Polar Tank Trailer, LLC
- Schmitz Cargobull
- Utility Trailer Manufacturing Company
- Wabash National Corporation
- HYUNDAI TRANSLEAD
Order a free sample PDF of the Semi-trailer Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Grand View Research, Inc.
Phone: 1-415-349-0058
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