According to a new report published by Allied Market Research, titled, โAutomotive 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.
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In November 2019, Hyundai Motorย 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.ย
Covid-19 scenario:
- The Covid-19 pandemic negatively impacted the market due to commute restrictions and weak financial performance of market players.
- The economic impact of the pandemic hampered the market players. However, some market players witnessed increase in unit sales of trailers. This trend is expected to continue post-pandemic.
๐๐ป๐๐ฒ๐ฟ๐ฒ๐๐๐ฒ๐ฑ ๐๐ผ ๐ฃ๐ฟ๐ผ๐ฐ๐๐ฟ๐ฒ ๐๐ต๐ฒ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐? ๐๐ป๐พ๐๐ถ๐ฟ๐ฒ ๐๐ฒ๐ณ๐ผ๐ฟ๐ฒ ๐๐๐๐ถ๐ป๐ด โ https://www.alliedmarketresearch.com/purchase-enquiry/1710
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 efficientย automotive trailers. Asia-Pacific would hold the highest share of the market by 2031, owing to rise in procurement and development of advancedย automotive trailerย systems by several Asian nations, for instance, China, India, Japan, and South Korea.
On the basis of trailer type, the global 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.
KEY FINDINGS OF THE STUDY
- By vehicle type, the two-wheeler and bike segment is expected to register a significant growth during the forecast period.
- On the basis of trailer type, the others segment is anticipated to exhibit significant growth in future.
- On the basis of axle type, the three or more than three axle segment is anticipated to exhibit significant growth in future.
- Region wise, LAMEA is anticipated to register the highest CAGR during the forecast period.
The key players profiled in thisย automotive trailer marketย report include Bรถckmann 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
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