Research and Markets released its newest commercial vehicle global forecast for the trailer market Monday.
The new report “Semi-Trailer Market by Type, Number of Axles, and Region – Global Forecast to 2025” report states the global semi-trailer market is projected to grow from $25.32 billion in 2017 to reach $37.34 billion by 2025 at a compound annual growth rate (CAGR) of 4.98 percent during the forecast period (2017-2025).
Research and Markets states expanding cold chain industry, increasing use of advanced technologies such as telematics and stability control are expected to boost the demand for the trailer market. However, local players in unorganized sector in developing countries are a restraining factor for the trailer market. Additionally, modern technologies such as semi-trailer platooning and electric semi-trailer truck have lots of development opportunities in the near future. On the other hand, lightweight semi-trailers and lowering the total cost of ownership (TCO) will be the challenging factors for the trailer market in the future, the company states.
The North America region is estimated to hold the largest share of global trailer sales in year 2017. However, Asia Pacific is projected to grow at the highest CAGR and surpass North America during the forecast period. The report also states expansion of logistics and supply chain industry is expected to fuel the trailer market in Asia Pacific region.
Research and Markets states the report segments the semi-trailer market and forecasts its size, by volume and value, on the basis of region (Asia Pacific, Europe, North America, and RoW), Type (Flatbed, Lowboy, Dry Van, Refrigerated, Tankers, and Others), Tonnage (Below 25t, 25t-50t, 51t-100t, and above 100t), Number of axles (<3 Axles, 3-4 Axles, and >4 Axles).
The report contains various levels of analysis, including industry analysis, industry trends, and company profiles, which together analyze the emerging and high growth segments of the semi-trailer market; high-growth regions and countries; government initiatives; and market dynamics such as drivers, restraints, opportunities, and challenges.
For more information and to download the report, please CLICK HERE.