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Smart Connectivity Is Fueling The Growth Of The Semi-Trailer Market

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Pooja Khodke
Smart Connectivity Is Fueling The Growth Of The Semi-Trailer Market

The global Semi-Trailer Market is estimated to be valued at Us$ 32.3 Bn in 2023 and is expected to exhibit a CAGR Of 3.7% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.


Semi-trailer is a trailer without a front axle and are designed in such a way that most of its weight is carried by a tractor unit or a detachable front axle assembly, known as a dolly. Smart connectivity in semi-trailers allow fleet owners and managers to track vehicles and monitor safety & security remotely through telematics devices. Features like geofencing, mileage tracking, temperature control and fuel efficiency monitoring help optimize operations and reduce costs.


Market Overview:


Semi-trailers are extensively used for inter-state and intra-state logistics for transporting goods over long distances. Equipped with features like integrated braking systems, rear impact guards and advance climate control, semi-trailers offer safe and reliable transportation of temperature sensitive cargo over long hauls.


Market key trends:


One of the key trends in the semi-trailer market is the increasing adoption of telematics solutions. Telematics enable fleet managers to access real-time data on the location, maintenance status, fuel usage and driving behavior of vehicles remotely. This data helps identify inefficiencies, reduce downtime and enhance safety. Features like geofencing, electronic logging devices and cargo monitoring systems further aid in reducing costs, optimizing route planning and ensuring regulatory compliance. The integration of the Internet of Things (IoT) is also enabling asset tracking, predictive maintenance, refueling management and maximizing vehicle utilization.

Segment Analysis


The semi-trailer market is segmented by type into flatbed, lowboy/drop deck, dry van, refrigerated, tankers and others. The dry van segment currently dominates the market, accounting for over 30% share in 2022. Dry vans are extensively used for transportation of general cargo that does not require refrigeration. Their lightweight yet durable construction and easy loading/unloading facilities have made them the preferred option amongst cargo owners.


Key Takeaways


The Global Semi-Trailer Market Size is expected to witness high growth, exhibiting CAGR of 3.7% over the forecast period, due to increasing international trade and e-commerce activities.


Regional analysis


North America currently dominates the global semi-trailer market, accounting for over 35% share in 2022. This can be attributed to growing transportation and logistics industry in the US and Canada. However, Asia Pacific is projected to witness the highest CAGR during the forecast period owing to rapid industrialization and emergence of China and India as global manufacturing hubs.


Key players


Key players operating in the semi-trailer market are Schmitz Cargobull, China International Marine Containers (Group) Ltd., Polar Tank Trailer, Llc (Entrans International, Llc Company), Fontaine Commercial Trailer, Inc., Lamberet Sas (Xinfei France Sa), Great Dane, Krone Commercial Vehicle Group (Bernard Krone Holding), and Kogel Trailer Gmbh & Co.Kg. Schmitz Cargobull currently leads the market with over 15% share.

Read More :  https://www.newsstatix.com/expanding-production-and-trade-opportunities-are-anticipated-to-open-up-the-new-avenue-for-semi-trailer-market/

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