Impact of COVID 19 on Semi-Trailer Market

The ongoing COVID-19 pandemic—and the worldwide reaction to it—has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.

At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Semi-Trailer Market. We are working diligently to help companies take rapid decisions by studying:

• The impact of COVID-19 on the Semi-Trailer Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
• The rapid shifts in the strategies of the Top 50 companies in the Semi-Trailer Market
• The shifting short-term priorities of the top 50 companies’ clients and their client’s clients

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According to the recent report  “Semi-Trailer Market by Type (Flatbed, Lowboy, Dry Van, Refrigerated, Tankers), Tonnage (Below 25T, 25T–50T, 51T–100T, Above 100T), Number of Axles (<3 Axles, 3-4 Axles & >4 Axles), and Region – Global Forecast to 2025“published by MarketsandMarkets™, The Semi-Trailer Market is projected to grow at a CAGR of 4.98% during the forecast period, to reach USD 37.34 Billion by 2025 from an estimated USD 25.32 Billion in 2017.

Expanding the cold chain and logistics industry and increasing the use of advanced technologies are the key drivers for the Semi-Trailer Market. Increasing disposable income of consumers and the general push to fresh, healthier products, and an increasing number of quick-service restaurants (QSRs) are impacting the cold chain industry. A key driver for the growth of the cold chain industry in recent years has been the growth in large-format supermarket retailing. The installation of technically advanced devices such as temperature recorder with built-in GSM modem and remote temperature monitoring in the refrigerated trailers is benefiting trailer owners and managers in the real-time monitoring of the trailer.

Browse in-depth TOC on “Semi-Trailer Market”

160 – Tables
64 – Figures
136 – Pages

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Dry van is estimated to hold the largest market share during the forecast period

The market size for dry van semi-trailers is estimated to be the highest in 2017 and is projected to remain predominant during the forecast period. The production of dry van semi-trailers is estimated to be the highest, followed by flatbed, refrigerated, low boy, others, and tankers. Developing countries such as China and India have witnessed significant infrastructural and economic growth, which has increased the demand for dry van semi-trailers. The growth in retail, fast moving consumable goods (FMCG), fast moving consumable durable (FMCD) industries is driving the market for dry van, particularly in Asia Pacific.

Less than 3 axles segment is estimated to be the largest segment by number of axles from 2017 to 2025

The market size for semi-trailers with less than 3 axles is expected to be the largest as this type of trailers are preferred in Europe and Asia Pacific. The legally permissible load that can be transported on a semi-trailer depends on the number of axles. Weight limit and Gross Axle Weight Rating (GAWR) depend on state laws and are designed for the safety of the vehicle during operation. Government regulations on weight limits and number of axles are driving the market for less than 3 axles segment.

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North America: Largest market for semi-trailer

North America is projected to be the largest market for semi-trailer. The market growth in the region can be attributed to numerous factors such as improving road infrastructure, expanding supply chain industry, government regulations on weight carrying capacity and dimensions of semi-trailer, Californias Air Resources Board (CARB) mandates related to semi-trailer aerodynamics and the boom in natural gas industry.

The Semi-Trailer Market is dominated by a few globally established players such as Wabash (US), Schmitz Cargobull (Germany), Utility Trailer (US), Krone (Germany), Kögel (Germany), and CIMC (China).

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