Automotive trailer market size to grow by USD 6.25 billion from 2022 to 2027: Highlights on COVID-19 analysis, recovery, and latest trends - Technavio
NEW YORK, Feb. 7, 2023 /PRNewswire/ -- The global automotive trailer market size is estimated to increase by USD 6.25 billion between 2022 and 2027. However, the market's growth momentum will decelerate at a CAGR of 3.91%. COVID-19 had the most negative impact on the global automotive industry in recent years, resulting in a steep fall in demand and a large-scale disruption of the supply chain. This exerted intense pressure on an already-stressed global automotive market. However, few countries are bringing manufacturing facilities and production back on track, indicating that the supply side is on a restoration line. For more insights on the automotive trailer market - Request a sample report
Key trends - Advances in product technologies are a major trend in the market. Technologies such as telematics, electrification, digitalization, and autonomous driving are renovating and transforming automotive trailers. Digital technologies are expected to create new opportunities, such as advanced trailer telematics and artificial intelligence-based optimization, which will reduce carbon emissions, traffic congestion, utilization, and overall operating costs. The installation of advanced devices such as temperature recorders with built-in global mobile communication (GSM)/global positioning system (GPS) modem and remote temperature monitoring in refrigerated trailers helps trailer owners and fleet managers in real-time monitoring. Such technological advances are expected to provide growth opportunities for market expansion during the forecast period. To know more - Buy the report!
Automotive trailer market - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –
Key purchase criteria
Drivers of price sensitivity
Automotive trailer market – Vendor analysis
Vendor landscape –
The global automotive trailer market is fragmented, with the presence of several international and domestic vendors. A few prominent vendors that offer automotive trailers in the market are ACPS Automotive GmbH, Big Tex Trailer Manufacturing LLC, Bockmann Fahrzeugwerke GmbH, Brian James Trailers Ltd., China International Marine Containers Group Ltd., Dennison Trailers Ltd., Europe Trailers Pty Ltd., Great Dane LLC, Heil Trailer International, Humbaur GmbH, Hyundai Motor Group, Ifor Williams Trailers Ltd., Kentucky Trailer, MAXX-D Trailers, MCR Safety, Miller Industries Inc., Pace American Trailers, Premier Trailer Mfg. Inc., Schmitz Cargobull AG, and Wabash National Corp. and others.
The market is subject to rapidly changing consumer demands and preferences. The changing consumer consumption pattern, consumer tastes, global and regional economic conditions, and other demographic trends may affect vendor performance. Changing economic conditions are also affecting end-users' living standards, which can affect businesses. Vendors compete based on several factors, such as quality, price, service, brand image, distribution, and marketing. In addition, major vendors are focusing on acquiring other small brands to increase their market presence.
Vendor offerings -
ACPS Automotive GmbH - The company offers an automotive removable receiver, which is used for trailer movement.
Big Tex Trailer Manufacturing LLC - The company offers a single axle vanguard trailer, which is designed to carry out heavyweight cargo.
Brian James Trailers Ltd. - The company offers open transport trailer, which is designed to carry out racing vehicles.
China International Marine Containers Group Ltd. - The company offers an automotive trailer, which is used to carry and transfer dry cargo items.
Automotive trailer market - Segmentation assessment
Technavio has segmented the market based on type (dry trailers, refrigerated trailer, tank trailer, flatbed trailers, and others) and vehicle type (commercial vehicle, passenger car, and two-wheeler and bicycle).
The dry trailers segment will account for a significant share of the global market during the forecast period. A dry trailer is an enclosed box that is used to transport non-perishable goods, including food and beverages, household goods, clothing, plastic, and construction materials. Dry trailers are the most commonly used equipment owing to their versatility. Therefore, the advantages of dry trailers are expected to drive the growth of this segment during the forecast period.
Based on geography, the global automotive trailer market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive trailer market.
APAC is estimated to account for 53% of the growth of the global market during the forecast period. China and India have the highest share of the automotive engine market in APAC in terms of production volume due to the presence of a large automotive production base. The demand for automotive trailers is expected to increase in countries such as China, Australia, Japan, India, and South Korea. Moreover, with the reduction in the prices of components and the availability of more stable and advanced systems, more low-cost manufacturers are expected to enter the market in the region, especially in China, during the forecast period.
Automotive trailer market – Market dynamics
Leading drivers - The rapidly growing transportation and logistics industry is driving market growth. Road transport is the most frequently used mode of transport in the logistics sector owing to its cost advantage. Therefore, the logistics industry is important for automotive trailers. The expansion of the manufacturing, agriculture, electronics, textile, and clothing industries has also increased the demand for logistics and supply chain services. Moreover, most companies also rely on external logistics companies to lower their investment in vehicle fleets, miniaturization, and availability of different types of containers, tanks, and flatbeds, depending on their needs. These factors are expected to drive the growth of the market during the forecast period.
Major challenges - The high maintenance cost is challenging the market. The average service life of a new trailer is 15 years. However, car trailers have air suspension and are more expensive than traditional trailers. The maintenance costs increase if the suspension is used for more than three years. Moreover, refrigerated trailers have numerous components that need regular maintenance, such as compressors, condensers, and evaporators, which further increases maintenance costs. Such factors will hinder the growth of the market during the forecast period.
Drivers and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!
What are the key data covered in this automotive trailer market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the automotive trailer market between 2023 and 2027
Precise estimation of the size of the automotive trailer market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the automotive trailer market across APAC, Europe, North America, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of automotive trailer market vendors
Gain instant access to 17,000+ market research reports.
Technavio's SUBSCRIPTION platform
The automotive four-wheel drive vehicle market is estimated to grow at a CAGR of 3.85% between 2022 and 2027. The size of the market is forecasted to increase by 2,423.33 thousand units. This report extensively covers market segmentation by application (passenger cars and commercial vehicles), type (SUVs and crossovers, pickup trucks, and premium and luxury sedans), and geography (North America, APAC, Europe, the Middle East and Africa, and South America).
The size of the automotive market in GCC is expected to increase by 346.37 thousand units from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.74%. This report extensively covers segmentation by type (passenger cars and commercial vehicles) and geography (Saudi Arabia, UAE, Kuwait, and Others).
Automotive Trailer Market Scope
Growth momentum & CAGR
Decelerate at a CAGR of 3.91%
Market growth 2023-2027
USD 6.25 billion
YoY growth 2022-2023 (%)
APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution
APAC at 53%
US, China, India, Germany, and UK
Leading vendors, market positioning of vendors, competitive strategies, and industry risks
Key companies profiled
ACPS Automotive GmbH, Big Tex Trailer Manufacturing LLC, Bockmann Fahrzeugwerke GmbH, Brian James Trailers Ltd., China International Marine Containers Group Ltd., Dennison Trailers Ltd., Europe Trailers Pty Ltd., Great Dane LLC, Heil Trailer International, Humbaur GmbH, Hyundai Motor Group, Ifor Williams Trailers Ltd., Kentucky Trailer, MAXX-D Trailers, MCR Safety, Miller Industries Inc., Pace American Trailers, Premier Trailer Mfg. Inc., Schmitz Cargobull AG, and Wabash National Corp.
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Browse for Technavio's consumer discretionary market reports
Table of contents
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global automotive trailer market 2017 - 2021
4.2 Type Segment Analysis 2017 - 2021
4.3 Vehicle type Segment Analysis 2017 - 2021
4.4 Geography Segment Analysis 2017 - 2021
4.5 Country Segment Analysis 2017 - 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Type
6.1 Market segments
6.2 Comparison by Type
6.3 Dry trailers - Market size and forecast 2022-2027
6.4 Refrigerated trailer - Market size and forecast 2022-2027
6.5 Tank trailer - Market size and forecast 2022-2027
6.6 Flatbed trailers - Market size and forecast 2022-2027
6.7 Others - Market size and forecast 2022-2027
6.8 Market opportunity by Type
7 Market Segmentation by Vehicle Type
7.1 Market segments
7.2 Comparison by Vehicle Type
7.3 Commercial vehicle - Market size and forecast 2022-2027
7.4 Passenger car - Market size and forecast 2022-2027
7.5 Two-wheeler and bicycle - Market size and forecast 2022-2027
7.6 Market opportunity by Vehicle Type
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 APAC - Market size and forecast 2022-2027
9.4 Europe - Market size and forecast 2022-2027
9.5 North America - Market size and forecast 2022-2027
9.6 South America - Market size and forecast 2022-2027
9.7 Middle East and Africa - Market size and forecast 2022-2027
9.8 China - Market size and forecast 2022-2027
9.9 US - Market size and forecast 2022-2027
9.10 Germany - Market size and forecast 2022-2027
9.11 India - Market size and forecast 2022-2027
9.12 UK - Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 ACPS Automotive GmbH
12.4 Big Tex Trailer Manufacturing LLC
12.5 Bockmann Fahrzeugwerke GmbH
12.6 Brian James Trailers Ltd.
12.7 China International Marine Containers Group Ltd.
12.8 Dennison Trailers Ltd.
12.9 Europe Trailers Pty Ltd.
12.10 Great Dane LLC
12.11 Heil Trailer International
12.12 Humbaur GmbH
12.13 Hyundai Motor Group
12.14 Ifor Williams Trailers Ltd.
12.15 MCR Safety
12.16 Schmitz Cargobull AG
12.17 Wabash National Corp.
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
View original content to download multimedia:https://www.prnewswire.com/news-releases/automotive-trailer-market-size-to-grow-by-usd-6-25-billion-from-2022-to-2027-highlights-on-covid-19-analysis-recovery-and-latest-trends---technavio-301739149.html