Extendable trailer specs

Semi-trailer market to reach $41.2 billion by 2025

The Global Semi-trailer market is expected to reach USD 41.2 billion by 2025, growing at a CAGR of 5.6%.

North America is expected to be the largest semi-trailer market, by value, during the forecast period. The presence of a large trucking industry and a steadily growing retail sector is expected to drive the market growth in this region. Asia-Pacific is expected to grow at the fastest CAGR. Asia-Pacific growth is driven by China and India. These countries are among the fastest growing economies in the world and include extensive logistics and supply chain networks.

The semi-trailer market is dominated by global players such as China International Marine Containers (China), Wabash National (US), Schmitz Cargobull AG (Germany), Utility Trailer Manufacturing Company (US) and Fahrzeugwerk Bernard Krone (Germany).

In the semi-trailer market, four key trends are new logistics, electrification/alternative drives, self-driving trucks and digitalization. Understanding the major market trends, various key players have started investing in the development of innovative technologies to be integrated into semi-trailers. For example, in October 2019, Great Dane and Cortex entered into a technology partnership around the Fleet Pulse smart trailer solution. Together they aim to create solutions for refrigerated fleets as a single, transparent data source from the combination of trailer and refrigerant combo unit data and eliminate the annoyance of multiple subscriptions. Similarly, in September 2020, Great Dane and Aurora Parts & Accessories, LLC entered into a partnership to provide smart solutions to the freight mobility industry with aftermarket operational expertise, distribution services and platforms. state-of-the-art digital technology from Aurora. Additionally, companies focus on building differentiators, price competitiveness, and technical capabilities. Currently, most of the value of a standard semi-trailer resides in the chassis and structural elements; however, in the coming years, a clear shift towards connectivity systems is expected.

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The less than 3 axles segment is estimated to be the largest segment by number of axles from 2017 to 2025

The market size of semi-trailers with less than 3 axles is expected to be the largest as this type of trailer is preferred in North America and Asia-Pacific. The legally permitted load that can be transported on a semi-trailer depends on the number of axles. The weight limit and Gross Axle Weight Rating (GAWR) are governed by state law and are designed for the safety of the vehicle while in operation. Government regulations on weight limits and number of axles drive the market for the less than 3 axles segment.

The dry van semi-trailer segment is expected to be the fastest growing segment during the forecast period

By tonnage, the semi-trailer market is divided into four categories: below 25 T, 25-50 T and 51-100 T and above 100 t. The sub-25T segment dominates the market as most of the semi-trailers used for transportation, such as dry vans, refrigerated semi-trailers and tank trucks, fall under this category. Semi-trailers under 25T are in high demand due to lower transportation cost than other categories as well as considerable amount of freight. In addition, the category below 25 T complies with the legally authorized limits in most countries. Thus, the sub-25T segment is expected to continue dominating the semi-trailer market over the estimated period. The segment is followed by the 25-50 T segment, which are lowbed and flatbed semi-trailers.

Logistics is estimated to hold the largest market share during the forecast period

The logistics segment is expected to be the largest in the forecast years. Growing demand for third party logistics by small and medium players across various industries would continue to drive the demand for semi-trailers. Most companies rely on third-party logistics companies to reduce fleet investment, reduction in manpower, and availability of various types of containers, tanks, and trays as per business requirements.

The growing reliance of e-commerce businesses on third-party logistics (3PL) providers to transport goods through the warehouse and distribution center and the growing partnerships between manufacturers and semi- trailers drive the semi-trailer logistics market. North America is estimated to be the largest region for the logistics semi-trailer market. The market in the region is driven by increasing adoption of third party semi-trailer services by key players across various industries, growing demand for reefer containers and growing number of logistics service providers.

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Dry van semi-trailer segment is expected to be the fastest growing segment during the forecast period. By tonnage, the semi-trailer market is divided into four categories: less than 25T, 25-50T and 51 -100 T, and more than 100 T. The sub-25T segment dominates the market as most of the semi-trailers used for transportation, such as dry vans, refrigerated semi-trailers and tank trucks, fall under this category. Semi-trailers under 25T are in high demand due to lower transportation cost than other categories as well as considerable amount of freight. In addition, the category below 25 T complies with the legally authorized limits in most countries. Thus, the sub-25T segment is expected to continue dominating the semi-trailer market over the estimated period. The segment is followed by the 25-50 T segment, which are lowbed and flatbed semi-trailers.

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