The global automotive trailer market size is expected to reach USD 29.07 billion by 2030 according to a new study by Polaris Market Research. The report “Automotive Trailer Market Share, Size, Trends, Industry Analysis Report, By Vehicle Type (Two-wheeler & Bike, Passenger Car, Commercial Vehicle); By Trailer Type; By Axle Type (Single Axle, Tandem Axle, Three or More Than Three Axle); By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rise in government support to use double- and triple-deck trailers, along with rising investments by private and public authorities in emerging economies, will positively influence the industry growth. For instance, in December 2021, the Ministry of Road Transport & Highways (MoRTH) has proposed and allowed the usage of triple-deck motorized that will enhance carriage capacity by almost 40-50% for increased shipment.
Furthermore, the rising spending on capital-intensive projects and infrastructure development initiatives is expected to contribute higher in the upcoming decade, driving the need for these to transport construction equipment and materials. This is expected to bolster the industry demand across the globe.
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By type, the dry van & box segment is projected to garner a significant share during the forecast period on account of the advantages such as secure, reasonable, and multipurpose solutions in terms of freight shipments for both local and over-the-road routes.
The growth of these is driving the industry growth as this industry has changed the way logistics is done in retail shipments across the globe. Motorized trailers for transporting and storing perishable products are rising due to their cost-benefit aspects and convenience concerning improving operational efficiency concerning technical developments. Thus, the rise in demand for perishable goods and the integration of AI-based optimization in trailers to attain carbon neutrality are creating a positive outlook for industry growth worldwide.
Industry participants include Bockmann Fahrzeugwerke, Dennison Trailers, China International Marine Containers, Humbaur, Great Dane, Schmitz Cargobull, Hyundai Motor Group, Ifor Williams Trailers, Wabash National Corp, and Utility Trailer Manufacturing are some of the key players operating in the global industry. For instance, in August 2021, SAE-SMB unveiled a new trailer axle for car carriers. It is the latest value-addition in the prevailing trailer axles industry and growth visions for the company in the Indian and international industries.
Polaris Market Research has segmented the automotive trailer market report on the basis of vehicle type, trailer type, axle type, and region:
Automotive Trailer, Vehicle Type Outlook (Revenue - USD Billion, 2018 - 2030)
Automotive Trailer, Trailer Type Outlook (Revenue - USD Billion, 2018 - 2030)
Automotive Trailer, Axle Type Outlook (Revenue - USD Billion, 2018 - 2030)
Automotive Trailer, Regional Outlook (Revenue - USD Billion, 2018 - 2030)