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The global automotive trailer market size is estimated to grow by USD 6.25 billion between 2022 and 2027 decelerating at a CAGR of 3.91%.
Road transport is the most frequently used mode of transport in the logistics sector and this sector is exponentially growing which is driving the market growth. Additionally, the advancement of technologies and truck platooning concept spurring demand for semi-trailers are notably driving the market growth. But challenges such as high maintenance costs, the use of lightweight semi-trailers, and local players in the unorganized sector are hindering the market growth.
This report extensively covers market segmentation by type (dry trailers, refrigerated trailers, tank trailers, flatbed trailers, and others), vehicle type (commercial vehicle, passenger car, and two-wheeler and bicycle), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Dry trailers are extensively used for transporting non-perishable goods such as household items, clothing, plastic, and construction materials due to their versatility. With the ability to carry up to 45,000 pounds of freight per truckload or less, these trailers offer ample protection as they are completely sealed. However, as they lack temperature control, they are limited to transporting non-perishable goods. Dry trailers are the most widely used trailer type in the shipping industry and are expected to drive market growth due to their availability and cargo transportation capabilities.
To capture the global market small, medium, and large-sized vendors are competing on quality, price, service, brand /image, distribution, and marketing which is impacting the growth of the market positively.
The dry trailers segment was valued at USD 8.84 billion in 2017 and continued to grow until 2021. A dry trailer is an enclosed box used to transport non-perishable goods. Dry trailers are used to transport non-perishable food and beverages, household goods, clothing, plastic, and construction materials. Because of their versatility in holding various products, they are the most commonly used equipment type.
The global refrigerated trailer segment is growing due to the rising consumption of refrigerated foods such as dairy products and frozen foods. The sales of frozen foods are growing due to the convenience they offer to consumers in terms of easy and instant cooking. The global refrigerated trailer segment was valued at around USD 6.05 billion in 2022 and is expected to grow to USD 7.70 billion by 2027 at a CAGR of 4.94%.
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A tank trailer is a large, heavy-duty truck trailer with a tank body normally authorized for transporting chemicals, liquids, gases, beverages like milk, and dry/bulk products like grains, sand, cement, and plastic pellets, among others. Road transport is the most frequently used mode of transport in the logistics sector, as it has a cost advantage over other modes of transport. Therefore, logistics is one of the most important end-user industries for flatbed automotive trailers. Utility trailers are ideal for transporting large items such as landscaping equipment and motorcycles. Each has a high durability, welded steel frame, the ability to withstand an additional load carry capacity, and 12-volt exterior lighting.
Commercial vehicles are expected to dominate the automotive trailer market during the forecast period. A commercial trailer is driven by increasing demand for fresh and nutritious food delivery, cost reductions in road transportation modes, and transportation simplicity.
Next-generation passenger car trailers are preferred to have high load-bearing capacity and strength. American trailer maker Big Tex Trailers is expanding its line of passenger car trailers with tie-down spots on each side, giving customers more options for securing their goods. The rise in developments and dependency on passenger cars for commercial applications is likely to drive the market growth of passenger cars which, in turn, is expected to drive the growth of the global automotive trailer market during the forecast period.
Increasing demand for cargo trailers in the APAC region and North America as freight operations expand is among the major factors driving the growth of the two-wheeler and bicycle segment during the forecast period.
APAC is estimated to contribute 53% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In terms of production volume, China and India account for the largest share of the automotive engine market in APAC due to the presence of a large automotive production base. Countries such as China, Australia, Japan, India, and South Korea are likely to see a surge in demand for automotive trailers. Furthermore, following the reduction in the prices of components and availability of more stable and advanced systems, it is expected that more low-cost manufacturers will enter the market in APAC, especially in China, during the forecast period.
Additionally, factors such as improvements in the standard of living and an increase in disposable income are driving the demand for automobiles in this region. The high demand for automobiles is also encouraging original equipment manufacturers (OEMs) to set up their manufacturing plants in this region. For instance, in November 2019, Hyundai Motor announced an investment of USD 1.55 billion in Indonesia's auto manufacturing plant until 2030. Hence, these factors will lead to regional market growth during the forecast period.
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The COVID-19 outbreak in 2020 had a negative impact on the regional market. However, the large-scale vaccination drives and the recovery and reopening of international boundaries for trading gradually generated demand for the automotive trailer in APAC. The containment of the pandemic also helped resume manufacturing activities, which increased the production and sales of automotive trailers in the region. Additionally, in 2022, India experienced more than 25% growth in the automotive industry. India, the world's fourth-largest auto market, is anticipated to grow in the coming years, which reflects the general economic recovery and consumer preference for private vehicles over public transportation.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the Automotive Trailer Market.
ACPS Automotive GmbH - The company focuses on developing, manufacturing and selling safe trailers, carrier systems, and towbars for passenger cars, SUVs, and vans. The key offerings of the company include automotive removable receivers.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand from European Logistics Sector is notably driving the market growth. Around 1,870 billion kilometers of European roadways were used to move freight. In 2019, highways carried around 79% of all inland freight in the European Union. In recent years, the proportion of freight transported by road has gradually grown while rail transit has fallen. According to Eurostat, road transport accounts for more than 75% of inland freight transfers inside the European Union, or around 1,750 billion metric ton-kilometers (km). In certain European nations, this figure might reach 90% or higher. The rising demand for semi-trailers for logistics is the key driver driving the market growth.
The push for efficiency and sustainability in temperature-controlled trailers has led to the emergence of electrified solutions such as hybridization, solar power, and optimized technology. Carrier Transicold has launched an autonomous, all-electric eCool trailer system that captures and stores kinetic energy to power its refrigeration unit via a battery pack. Schmitz Cargobull has also introduced an electric S.CUe trailer with a cooling unit and energy recovery. Electrified technologies reduce emissions and noise pollution, making them suitable for various applications, including supermarket home deliveries. For instance, Tesco PLC added 30 new zero-emission electric vans with the Thermo King E-200 refrigeration units to its fleet in 2020. These factors are expected to drive market growth in the forecast period.
The global automotive trailer market has established players and local unorganized companies. In North America and Europe, the top three competitors dominate the market, while in developing countries like India, 80% of the market consists of small unorganized firms. This poses a challenge to major global companies and affects their profitability due to cheaper and lower-quality products from the unorganized sector. The situation also has implications for OEM development in developing nations, where the unorganized sector is booming and likely to impact product areas with a minimal difference during the forecast period.
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The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Automotive Trailer Market Customer Landscape
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Automotive Trailer Market Scope |
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Report Coverage |
Details |
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Page number |
166 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 3.91% |
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Market growth 2023-2027 |
USD 6.25 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.09 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 53% |
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Key countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ACPS Automotive GmbH, Big Tex Trailer Manufacturing LLC, Bockmann Fahrzeugwerke GmbH, Brian James Trailers Ltd., China International Marine Containers Group Ltd., Dennison Trailers Ltd., Europe Trailers Pty Ltd., Great Dane LLC, Heil Trailer International, Humbaur GmbH, Hyundai Motor Group, Ifor Williams Trailers Ltd., Kentucky Trailer, MAXX-D Trailers, MCR Safety, Miller Industries Inc., Pace American Trailers, Premier Trailer Mfg. Inc., Schmitz Cargobull AG, and Wabash National Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Vehicle Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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