Global Trailer Market Accelerates Growth Fueled by Population Expansion and Technological Innovations

Global Trailer Market Accelerates Growth Fueled by Population Expansion and Technological Innovations

Trailer Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company’s Trailer Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The global trailer market size grew from $52.61 billion in 2022 to $58.28 billion in 2023 at a compound annual growth rate (CAGR) of 10.8%.”

— The Business Research Company

LANDON, GREATER LANDON, UK, November 24, 2023 / — The global trailer market has witnessed substantial growth, surging from $52.61 billion in 2022 to $58.28 billion in 2023, achieving an impressive Compound Annual Growth Rate (CAGR) of 10.8%. Projections suggest a continued upward trajectory, with the market anticipated to reach $85.65 billion by 2027, maintaining a robust CAGR of 10.1%.

Population Growth as a Catalyst for Trailer Demand

The expanding global population, expected to reach around 10 billion by 2050, indirectly propels the trailer market. The surge in population generates increased demand for essential commodities like food, automobiles, infrastructure, and transportation. In the United States, for example, where the trucking industry handles 71% of the nation’s freight, population growth plays a pivotal role in driving demand. Similar trends are anticipated in countries such as India, Brazil, and various African nations. As a result, companies in the trailer market are poised to experience heightened demand for truck trailers from manufacturers involved in the production of food, automobiles, clothing, and other consumer goods.

For a comprehensive analysis of the global trailer market, refer to our detailed sample report:

Leading Companies Shaping the Landscape

Major players in the trailer market include China International Marine Containers (Group) Ltd., Schmitz Cargobull AG, Bernard Krone Holding SE & Co. KG, Wabash National Corporation, Utility Trailer Manufacturing Company, EnTrans International LLC, Leslie Doggett Industries, Humbaur GmbH, and Mac Trailer Manufacturing Inc.

Technological Advancements Transforming Trailer Efficiency

Automation and sensor technology are becoming integral to the trailer industry, enhancing the efficiencies of dump trailers. Automation facilitates the automatic raising and lowering of lift axles in dump trailers, streamlining loading and unloading processes for truck drivers. Sensor technology plays a crucial role in preventing trailer overloading and preserving tire wear through intelligent algorithms. These technological advancements contribute significantly to reducing operational costs for transportation companies. Key industry players, like East Manufacturing Company, are introducing trailers with automatically deployed lift axles and rear suspension dumps, demonstrating a commitment to innovative solutions.

Regional Dynamics and Market Segmentation

Asia-Pacific emerged as the largest region in the trailer market in 2022, with North America securing the second-largest position.

The market segmentation includes:

The global trailer market is segmented –
1) By Type: Dry Vans, Refrigirated Trailers, Tank Trailers, Flatbed Trailers, Lowboy Trailers, Other Trailers
2) By Axle Type: Single Axle, Tandem Axle, Three or More Than Three Axle
3) By End-Use: Paper And Paper Products, Pharma Drugs, Textile Products, Food and Groceries, Agriculture And Farm Products, Chemicals, Petroleum And Petroleum Products, Motor Vehicle And Motor Vehicle Parts, Metal And Minerals, Commercial Machinery, Other Products

Access the complete report for in-depth insights and strategic analysis:

Trailer Global Market Report 2023 from TBRC covers the following information:

• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Trailer Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on trailer market size, trailer market drivers and trends, trailer market major players, trailer market competitors’ revenues, market positioning, and market growth across geographies. The trailer market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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About The Business Research Company
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