Nov 23, 2020 (The Expresswire) -- Global “ Semi-Trailer Market ” Research Report 2020 - 2024isolated into the item, end-use area, and district. In addition, key organizations are examined dependent on their budgetary viewpoints, their innovative work statuses, just as their development procedures for the coming years, have been featured in the report. Contingent upon the division, the examination record uncovers the item advancement, benefit, cost, market worth, and improvement proportion of each sort.
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Semi-Trailer Market is made to give the market scene and limitless rule about contemporary market size, share, driving variables, patterns, reformist development, and predominant players of the Semi-Trailer market. The report serves in general data available to top makers, wholesalers, merchants, vendors. It will assist them with understanding the item scope, market diagram, market-main thrust, innovative progression, market danger, openings, and examination discoveries.
Short- Description About Semi-Trailer Market:
The semi-trailer market is expected to register a CAGR of
, during the forecast period, 2020 - 2024.
- The majority of the transportation in the energy, construction, automotive, and manufacturing sectors happens through road and trailers, due to their flexibility and versatility. Semi-trailers are more popular than full-trailers.
- The increasing use of alternative fuels is expected to drive the growth prospects for the road freight transportation market, over the forecast period.
- Semi-trailer manufacturers are developing and adopting advanced technologies, in order to enhance the efficiency of vehicles. For instance; Ekeri, a Finland-based company, has developed a side opening design for a semi-trailer, which is likely to save 30 minutes on each daily run. Similarly, KÃ¤ssbohrer, a German-based company ,has recently launched 18 new models of semi-trailers across four product groups, in response to the changing trends in the industry, and to cater to the exact requirements of customers.
- Asia-Pacific is the largest market for semi-trailers and is expected to grow at the fastest pace beyond 2020.
- Many heavy commercial vehicles in India are outdated and due for replacement. Strict emission norms will result in an increase in the demand for replacements, thus, driving the growth in the Indian semi-trailer market.
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Here Is a List of Top Key-players/Leading Manufacturers of Semi-Trailer Market 2020:
Semi-Trailer Market Report Segmented by Regions : North America, Europe, Asia-Pacific (APAC), Middle East and Africa, Rest of World (ROW). This Semi-Trailer market research report focuses on theKey Manufacturers Profiles in DetailwithGranular Analysisof theMarket Share, Production Technology, Market Entry Strategies,Revenue Forecasts, andRegional Analysisof the Market.
The report focuses on the global market, especially in the United States, Europe, China, Japan, South Korea, North America, and India.
Also, the Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions.
The Global Semi-Trailer market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
The global Semi-Trailer market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.
Scope of the Semi-Trailer Market Report:
The semi-trailer market has been segmented by vehicle type and foot length.
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Key Trends of Semi-Trailer Market:
Rising Demand for Refrigerated-type Trailer
A refrigerated semi-trailer is designed to carry goods at a specific temperature. These vehicles are equipped with any mechanical refrigeration systems, powered by small displacement diesel engines, and utilize carbon dioxide as a cooling agent. The demand for frozen food products across the country has been increasing over the past five years. This spike has laid roots for the demand for refrigerated semi-trailers.
Great Dane Trailers, Wabash National, Schmitz Cargobull, Utility Trailer Manufacturing, Kogel Trailer GmbH, and Krone GmbH are the major players that dominated the refrigerated trailer market during 2018. The key focus of these companies is to design and develop refrigerated trailers with advanced technology and improved operational efficiency. In addition to this, third-party logistics service providers are increasing their trailer feet, due to the increasing demand for refrigerated trailers.
The companies are collaborating and developing technologically advanced products. For instance;
- Dearman System has collaborated with Paneltex for developing the zero-emission transport refrigeration. A transport refrigeration unit (TRU), powered by a secondary diesel engine, can emit up to six times as much nitrogen oxide (NOx), and almost 30 times as much particulate matter (PM). However, the Dearman TRU eradicates all emissions of NOx and PM, offering a significant improvement in air quality, along with reducing carbon footprint and noise.
- ABCO Transportation, a leading transportation service provider in Missouri (United States), offers refrigerated semi-trailers. The company has installed the latest technology to support the changing demands of the market. The vehicles provided by ABCO also ensure safety and have tracking equipment, such as GPS mobile communication and mobile scanning devices. ABCO has partnered with R+L Carriers, Paramount Freight Systems, and R+L Global, to expand its services to greater coverage.
Asia Pacific and North America â Largest Markets
Asia-Pacific is the largest market for semi-trailers and is expected to grow at the fastest pace during the forecast period, followed by North America. The growth is primarily contributed by the increase in inland transportation, rising investments in infrastructure and construction activities, and continually increasing demand from the logistics sector.
Most of the heavy commercial vehicles in India are outdated and are due for replacement. Stringent emission norms will result in high replacement demand, driving the growth in the semi-trailer market.
Furthermore, the United States has witnessed positive growth in the commercial vehicle sales during 2015-2018, majorly owing to their growing operations in the e-commerce and logistics sectors.
Mexico, on account of increased exports and expanded domestic market, witnessed the fastest growth rate. The majority of the transportation in the energy, construction, automotive, and manufacturing sector happens through the road; semi-trailers, and due to their flexibility and versatility, they are more popular than full trailers, and are considered as the viable option.