The global semi-trailer market was estimated at USD 19.81 billion in 2022 and it is expected to surpass around USD 29.97 billion by 2030, poised to grow at a CAGR of 4.71% from 2022 to 2030.
Report Highlights
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.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 19.81 billion |
| Revenue Forecast by 2030 | USD 19.81 billion |
| Growth rate from 2022 to 2030 | CAGR of 4.71% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Type, region |
| Companies Covered |
China International Marine Containers (Group) Ltd.; Schmitz Cargobull; Wabash National Corporation; Great Dane; Kogel Trailer GmbH & Co.KG |
Type Insights
The dry vans segment accounted for the largest volume share of over 37.01% in 2021 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. These trailers are used by the full truckload (FTL) and less-than-truckload (LTL) fleet operators for their operations owing to their cost-efficiency and versatility.
The flat bed trailer segment captured a sizeable volume share in 2021 and is estimated to expand at the second-highest CAGR of 8.4% in terms of revenue from 2022 to 2030. 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 industry. The increasing number of QSR, the general push for healthier, fresh products, and higher disposable income are positively impacting every aspect of the cold chain industry.
Regional Insights
Asia Pacific held the largest revenue share of over 38.02% in 2021 and is expected to witness the fastest growth during the forecast period. The regional market is mainly driven by emerging economies such as India and China, which comprise large supply chains and logistics networks and are among the fastest-growing economies globally. Moreover, the growing e-commerce industry in the region is anticipated to surge the demand for dry vans trailers in the coming years.
North America accounted for the second-largest revenue share in 2021. The North American market is currently in the replacement phase with an aging fleet that needs to be replaced with technologically advanced semi-trailers. Moreover, the busy road infrastructure network and the growing transportation and logistics industry in the U.S. and Canada are expected to boost the regional market growth. Furthermore, relaxation in government regulations regarding weight carrying capacity and dimensions of the semi-trailer is likely to lead to the increased demand for lightweight transport vehicles, thereby driving the market demand. In addition, the California Air Resources Board (CARB) mandated the installation of “SmartWay”, a verified aerodynamic technology, to improve fuel efficiency in tractors and semi-trailers.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1.Research Objective
1.2.Scope of the Study
1.3.Definition
Chapter 2. Research Methodology
2.1.Research Approach
2.2.Data Sources
2.3.Assumptions & Limitations
Chapter 3. Executive Summary
3.1.Market Snapshot
Chapter 4. Market Variables and Scope
4.1.Introduction
4.2.Market Classification and Scope
4.3.Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5.COVID 19 Impact on Semi-trailer Market
5.1. COVID-19 Landscape: Semi-trailer Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4.Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1.Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2.Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1.List of Suppliers
7.1.3.2.List of Buyers
Chapter 8. Global Semi-trailer Market, By Type
8.1.Semi-trailer Market, by Type Type, 2020-2030
8.1.1. Flat Bed Trailer
8.1.1.1.Market Revenue and Forecast (2017-2030)
8.1.2. Dry Vans
8.1.2.1.Market Revenue and Forecast (2017-2030)
8.1.3. Refrigerated Trailers
8.1.3.1.Market Revenue and Forecast (2017-2030)
8.1.4. Lowboy Trailers
8.1.4.1.Market Revenue and Forecast (2017-2030)
8.1.5. Tankers
8.1.5.1.Market Revenue and Forecast (2017-2030)
8.1.6. Others
8.1.6.1.Market Revenue and Forecast (2017-2030)
Chapter 9. Global Semi-trailer Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.1.2. Market Revenue and Forecast, by Battery (2017-2030)
9.1.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.1.4. U.S.
9.1.4.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.1.4.2. Market Revenue and Forecast, by Battery (2017-2030)
9.1.4.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.1.5. Rest of North America
9.1.5.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.1.5.2. Market Revenue and Forecast, by Battery (2017-2030)
9.1.5.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.2.2. Market Revenue and Forecast, by Battery (2017-2030)
9.2.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.2.4. UK
9.2.4.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.2.4.2. Market Revenue and Forecast, by Battery (2017-2030)
9.2.4.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.2.5. Germany
9.2.5.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.2.5.2. Market Revenue and Forecast, by Battery (2017-2030)
9.2.5.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.2.6. France
9.2.6.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.2.6.2. Market Revenue and Forecast, by Battery (2017-2030)
9.2.6.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.2.7. Rest of Europe
9.2.7.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.2.7.2. Market Revenue and Forecast, by Battery (2017-2030)
9.2.7.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.3.2. Market Revenue and Forecast, by Battery (2017-2030)
9.3.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.3.4. India
9.3.4.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.3.4.2. Market Revenue and Forecast, by Battery (2017-2030)
9.3.4.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.3.5. China
9.3.5.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.3.5.2. Market Revenue and Forecast, by Battery (2017-2030)
9.3.5.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.3.6. Japan
9.3.6.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.3.6.2. Market Revenue and Forecast, by Battery (2017-2030)
9.3.6.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.3.7. Rest of APAC
9.3.7.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.3.7.2. Market Revenue and Forecast, by Battery (2017-2030)
9.3.7.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.4.2. Market Revenue and Forecast, by Battery (2017-2030)
9.4.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.4.4. GCC
9.4.4.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.4.4.2. Market Revenue and Forecast, by Battery (2017-2030)
9.4.4.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.4.5. North Africa
9.4.5.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.4.5.2. Market Revenue and Forecast, by Battery (2017-2030)
9.4.5.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.4.6. South Africa
9.4.6.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.4.6.2. Market Revenue and Forecast, by Battery (2017-2030)
9.4.6.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.4.7. Rest of MEA
9.4.7.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.4.7.2. Market Revenue and Forecast, by Battery (2017-2030)
9.4.7.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.5.2. Market Revenue and Forecast, by Battery (2017-2030)
9.5.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.5.4. Brazil
9.5.4.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.5.4.2. Market Revenue and Forecast, by Battery (2017-2030)
9.5.4.3. Market Revenue and Forecast, by Voltage (2017-2030)
9.5.5. Rest of LATAM
9.5.5.1. Market Revenue and Forecast, by Vehicle Type (2017-2030)
9.5.5.2. Market Revenue and Forecast, by Battery (2017-2030)
9.5.5.3. Market Revenue and Forecast, by Voltage (2017-2030)
Chapter 10.Company Profiles
10.1.China International Marine Containers (Group) Ltd.
10.1.1.Company Overview
10.1.2.Product Offerings
10.1.3.Financial Performance
10.1.4.Recent Initiatives
10.2.Fontaine Commercial Trailer, Inc.
10.2.1.Company Overview
10.2.2.Product Offerings
10.2.3.Financial Performance
10.2.4.Recent Initiatives
10.3.Great Dane
10.3.1.Company Overview
10.3.2.Product Offerings
10.3.3.Financial Performance
10.3.4.Recent Initiatives
10.4.Kogel Trailer GmbH & Co.KG
10.4.1.Company Overview
10.4.2.Product Offerings
10.4.3.Financial Performance
10.4.4.Recent Initiatives
10.5.Krone Commercial Vehicle Group
10.5.1.Company Overview
10.5.2.Product Offerings
10.5.3.Financial Performance
10.5.4.Recent Initiatives
10.6.Lamberet SAS
10.6.1.Company Overview
10.6.2.Product Offerings
10.6.3.Financial Performance
10.6.4.Recent Initiatives
10.7.Polar Tank Trailer, LLC
10.7.1.Company Overview
10.7.2.Product Offerings
10.7.3.Financial Performance
10.7.4.Recent Initiatives
10.8.Schmitz Cargobull
10.8.1.Company Overview
10.8.2.Product Offerings
10.8.3.Financial Performance
10.8.4.Recent Initiatives
10.9.Utility Trailer Manufacturing Company
10.9.1.Company Overview
10.9.2.Product Offerings
10.9.3.Financial Performance
10.9.4.Recent Initiatives
10.10.Wabash National Corporation
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11.Research Methodology
11.1.Primary Research
11.2.Secondary Research
11.3.Assumptions
Chapter 12.Appendix
12.1.About Us
12.2.Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers