Report Code : A01383
Expansion of logistics industry, coupled with increased in cold chain transportation, reduction in cost, and extra carriage capacity of trailers are expected to drive the growth of the automotive trailer market worldwide. In addition, the market growth is affected by high maintenance cost of automotive trailers and rise in environment concerns regarding refrigerated trailers. Moreover, technological advancements in automotive trailers and increase in attention toward trailer platooning positively impacts the market growth.
Himanshu Joshi -Lead Analyst
Aerospace and Defense at Allied Market Research
According to a new report published by Allied Market Research, titled, “Automotive Trailer Market," The automotive trailer market was valued at $21.1 billion in 2021, and is estimated to reach $30.8 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031.
Asia-Pacific was the highest revenue contributor followed by North America, Europe and LAMEA. China dominated the global automotive trailer market share in 2021, owing to increase in R&D activities; technological developments by key players; and rapid adoption of innovative technologies in making advanced, reliable, and efficient automotive trailers. Asia-Pacific would hold the highest share of the market by 2031, owing to rise in procurement and development of advanced automotive trailer systems by several Asian nations, for instance, China, India, Japan, and South Korea.
Dennison Trailers Ltd., Schmitz Cargobull, Bockmann Fahrzeugwerke GmbH, and Humbaur GmbH are one of the leading companies operating in the global automotive trailer market. Bockmann Fahrzeugwerke GmbH adopted product launch, Dennison Trailers Ltd. adopted agreement, contract, partnership, business expansion and product launch, and Schmitz Cargobull adopted product launch and business expansion to gain a competitive edge in the market.
In November 2019, Hyundai Motor demonstrated autonomous driving tech capabilities on its two trailer-connected Xcient trucks. The demonstration successfully displayed the vehicle platooning capability, which has the benefit of reducing air resistance to improve fuel efficiency and lower emissions, making it an eco-friendly technology. Furthermore, in July 2022, Cox Automotive acquired Trudell, thus expanding its offering within the medium and heavy-duty fleet parts and service, as well as adding direct parts sales and semi-trailer sales to the Cox Automotive Mobility Fleet Services portfolio. Such developments are expected to fuel the growth of the automotive trailer market during the forecast period.
By vehicle type, the automotive trailer market has been categorized into two-wheeler and bike, passenger car, and commercial vehicle. The commercial vehicle segment accounted for the highest revenue in 2021, owing to high demand for trailers for commercial vehicles globally.
On the basis of trailer type, the automotive trailer market is bifurcated into dry van & box trailers, flatbed, trippers, chemical & liquid refrigerated trailers, and others. The dry van and box segment garnered the highest revenue in 2021, owing to high demand for dry van and box type automotive trailers across several applications globally.
On the basis of axle type, the automotive trailer market is bifurcated into single axle, tandem axle and three or more than three axles. The tandem axle segment garnered the highest revenue in 2021, owing to their suitability for transporting heavier loads at higher speed.
COVID-19 Impact Analysis
KEY FINDINGS OF THE STUDY
The key players profiled in this automotive trailer market report include Böckmann Fahrzeugwerke GmbH, China International Marine Containers (Group) Co., Ltd., Dennison Trailers Ltd., Great Dane, Humbaur GmbH, Hyundai Motor Group (HYUNDAI Translead, Inc.), Ifor Williams Trailers Ltd., Schmitz Cargobull, Utility Trailer Manufacturing Company and Wabash National Corporation
Talk to David (Europe)
Talk to Sona Padman (Americas)
5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91 2066346060
Fax: +1(855) 550-5975
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com
Automotive Trailer Market by Vehicle Type (Two-wheeler and Bike, Passenger Car, Commercial Vehicle), by Trailer Type (Dry Van and Box, Refrigerator, Chemical and Liquid, Tipper, Flatbed, Others), by Axle Type (Single Axle, Tandem Axle, Three or More Than Three Axle): Global Opportunity Analysis and Industry Forecast, 2021-2031
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Buy Full Version
"Automotive Trailer Market"
Purchase Enquiry
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of the scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save the time of readers