Trailer Canopy Market: High Cost and Inhibition of Import Penetration by Domestic Players to Prevail as Key Growth Deterrents

Posted on 2019-04-24 by Mark Hub in Automotive // 0 Comments

Rockville, USA, 2019-Apr-24 — /EPR Network/ — The report on trailer canopy market offers decisive market intelligence with an unbiased view on each market segment associated with trailer canopy. The report studies various drivers, opportunities and challenges that are expected to impede the growth of the trailer canopy market during the period of forecast, 2018-2028. All these factors are assessed across major regions in the globe in order to cover a 360 degree view of the entire market. An overview of the trailer canopy market reveals remarkable facts of the market associated with use of trailer canopy across key regional markets in the globe. A complete assessment of trailer canopy supply chain, value chain and business performance of trailer canopy across key regional markets has been covered in this research report. In addition, vital insights on major participants in the trailer canopy market have also been included in this report.

Fact.MR has compiled several key facets of trailer canopy market including demand and sales scenario of trailer canopy across major regions and countries across the globe. According to the research report, trailer canopy market is projected to expand at a steady CAGR of 4.2% in terms of value, throughout the period of forecast, 2018-2028. The report also reveals that trailer canopy sales are expected to remain concerted in emerging economies of Asia Pacific excluding Japan (APEJ) while Europe and North America to be highly competitive markets for trailer canopy.

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Trailer canopy market is foreseen to record an average 4.2% value CAGR over the forecast period, 2018 to 2028, according to a new Fact.MR report. The report states that expansion of the logistics industry, which entails demand for customized trailer canopy, coupled with rising demand for lightweight commercial trucks will continue to underpin growth of the trailer canopy market in the forthcoming years. However, highly fragmented nature of the trailer canopy market, wherein raw material prices illustrate increased fluctuations, along with high cost of trailer canopy will continue to impede growth of the market.

Trailer Canopy Market: North America to Have an Upper Hand Over Europe

North America region is expected to reflect higher market attractiveness as compared to European countries, given the fact that in North America, particularly the United States, number of small business have been witnessed to increase since the past few years. According to U.S. Small Business Administration, around 28 million small business were reported in the United States and the number if expected to remain as is in the coming years. This factor has pushed the demand for trailer canopy for carrying out commercial activities in the region, which in turn is expected to drive the trailer canopy market in North America during the period of assessment.

The trailer canopy market contains only a handful of international established players, however occupancy of numerous domestic players worldwide has been inhibiting the import penetration. End-users tend to prefer trailer canopy manufactured by domestic players over international players, in case of specific utility-based purchases.

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The upward trend of customization in the trailer canopy market has confined the mass production of this vehicle component. This further favors well for domestic manufacturers than their international competitors, as they are in close proximity to potential customers and gain intelligence on evolving requirements faster. This has further lowered the import penetration rate of trailer canopy. Lower import penetration of trailer canopy has negatively impacted the supply chain of the trailer canopy market, thereby inhibiting the growth prospects.

In the era of technological advances and automation, companies are manufacturing hi-tech sensors and controls in order to enhance the efficiency of the operation with least human intervention. The trailer canopy space, being no exception to this, has witnessed increased integration of advanced sensors to gain customer traction. An advanced trailer canopy consists of central locking system, fast locking systems, door sensors and reverse cameras. In addition, a wireless door assist in the trailer canopy enables appropriate closing or opening of trailer.

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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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